Global plasticizers market to cross US$19366 mln by 2019

18-Dec-14

Asia-Pacific is the most promising market for plasticizers and is anticipated to be the same in the near future. The Asia-Pacific is the largest market of plasticizers, which consumed more than half of the total demand in 2013, as per MarketsandMarkets. The demand for plasticizers in the region is projected to grow at a CAGR of about 6.41% from 2014 to 2019. It is estimated that China and Japan were the biggest consumers of plasticizers in the region, followed by India in 2013. India is also projected to be the fastest growing Plasticizers Market in the region due to increasing domestic demand. The Chinese market for plasticizers is also growing at a notable pace, which is primarily due to the growing manufacturing industry that is further pushing the demand for plasticizers, domestically. Also, the budding PVC industry in the region is ultimately pushing demand for plasticizers within the region. Intensified efforts of various regulatory authorities to promote environment-friendly products have led to innovation and developments in the industry, making it a strong hub and the most potential growth market for plasticizers. Plasticizers are majorly consumed by low phthalates, which were at the forefront in terms of volumetric consumption in 2013, mainly due to the growth in demand of DOP, owing to its low cost and suitable plasticizing properties that are further employed in various applications. The demand of low phthalates is subjugated by China, followed by India, and Japan. Due to its plasticising performance, and cost-effectiveness DOP is widely employed as a general purpose plasticizer especially with PVC. Additionally, the high phthalates segment is dominant across the globe unlike the low phthalates segment which is majorly in Asia-pacific. On the other hand, DOTP is projected to be the fastest growing non-phthalate (being closely followed by bio-based segment) of plasticizers, which is projected to grow at a CAGR of about 10.18% between 2014 and 2019. The Chinese consumption for DOTP is estimated to almost double in the next five years. The demand for phthalates as a whole is falling out of favour especially when employed in food contact products, medical goods, and toys. This has led to a shift from phthalates to phthalate-free alternatives such as DOTP.