Global Plasticizer Market 2014-2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-11 10:21:04
The Global Plasticizer market is forecast to grow at a CAGR of 5.95 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increase in demand from the Medical industry. The Global Plasticizer market has also been witnessing the growth in environmental concern. However, the health risks associated with plasticizers could pose a challenge to the growth of this market.
Key vendors dominating this market space are BASF SE, Eastman Chemical Co., ExxonMobil Corp., and Ferro Corp.
Other vendors mentioned in the report are Adeka Corp., Arkema S.A., Clariant International Ltd., Daelim Industrial Co. Ltd., Dow Chemical Co., Evonik Industries AG, Grupa Azoty S.A., LG Chem Ltd., Nan Ya Plastics Corp., Perstorp Holding AG, Shandong Hongxin Chemicals Co., Sinopec Ltd., Teknor Apex, and UPC Technology Corp.
The increasing global concern about the environment and the need for environmental sustainability is forcing vendors to design eco-friendly plasticizers. Plasticizers such as DOP and other types of phthalates contain harmful substances and toxins which often harm the environment and pose risks to aquatic and terrestrial ecosystems. The public in many countries, and social bodies concerned with the environment, have started pressurizing vendors and manufactures of various products to use bio-plasticizers in the manufacture of various goods. Hence, vendors are increasing their research capabilities and are developing biodegradable and less harmful plasticizers such as TEC, TBC, and TOC to protect the environment and population, and to reduce their carbon footprint. Consumers are also demanding more eco-friendly plasticizers, which is positively influencing the growth in this market, though it adds to the manufacturing pressure on some plasticizer vendors.
According to the report, one of the main drivers in this market is the rising demand for plasticizers from the Medical industry. Plasticizers are increasingly being used in the production of medical devices and in their packaging. The rapid growth of the Medical industry has also adding to the increased requirement for plasticizers.
Further, one of the main challenges hindering the growth of this market is the health risks associated with the use of plasticizers, especially phthalates. Some plasticizers harm humans and lead to low birth weights, problems in the reproductive system, problems in breathing, and numerous other diseases, especially among children.
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