Non-Phthalate Plasticizers Market Overview:
According to the USD Analytics published latest research report, the global “Non-Phthalate Plasticizers Market” is expected to grow at a tremendous CAGR of 5.19% during the forecast period 2023-2030.
The global non-phthalate plasticizers market has lately seen significant expansion due to increased demand for safer and more ecologically friendly plasticizers across various end-use industries. Non-phthalate plasticizers are chemical additives that improve polymers’ flexibility, toughness, and workability without damaging human health or the environment. These plasticizers are extensively used to produce toys, medical equipment, food packaging, and other consumer items.
Market Drivers:
One of the key drivers driving the market for non-phthalate plasticizers is increased consumer and regulatory awareness about the detrimental effects of traditional phthalate-based plasticizers. Phthalates have been associated with various adverse health impacts, including cancer, reproductive system and development abnormalities, and respiratory troubles. Consequently, numerous industries have significantly shifted to safer and more ecologically friendly alternatives, such as non-phthalate plasticizers.
The growing demand for eco-friendly and bio-based plasticizers is another key driver driving the non-phthalate plasticizer market. Demand for bio-based and renewable plasticizers derived from natural sources such as soybean oil, maize, and other vegetable oils has surged as a consequence of rising environmental concerns and a desire to reduce carbon footprint. These bio-based plasticizers offer many advantages over conventional equivalents, including biodegradability, non-toxicity, and lower greenhouse gas emissions.
Market Restraints:
However, there are certain challenges in the non-phthalate plasticizer business. One of the major barriers is the higher cost of non-phthalate plasticizers compared to traditional phthalate-based plasticizers. Due to this, manufacturers may face significant challenges, particularly in developing countries where economic concerns are essential. Non-phthalate plasticizers may also react differently depending on the application, which limits their usage in some sectors.
Growth Factors:
Despite these challenges, the non-phthalate plasticizer market is expected to increase considerably in the next few years due to various growth-promoting factors. One of the primary growth factors is the increasing usage of non-phthalate plasticizers in the healthcare industry.
Non-phthalate plasticizers are often used to fabricate medical equipment such as catheters, IV bags, and blood bags due to their non-toxic nature and biocompatibility. The demand for non-phthalate plasticizers in the healthcare industry is expected to increase dramatically due to increased demand for medical equipment and increased focus on patient safety.
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Recent Industry Developments:
- Valtris Specialty Chemicals, Inc. stated on May 2, 2022, that it had completed ISO 14040 and ISO 14044 Life Cycle Assessments for Santicizer Platinum G-2000 (NA) and Santicizer Platinum G-2030 Biobased Plasticizers (EU). The assessments were conducted per the LCIA EN 15804 + A2 methodology. The global warming potential (kg CO2 Eq) of the Santicizer Platinum G-2000 is -0.39, whereas that of the Santicizer Platinum G-2030 is -0.55. Santicizer Platinum G-2000 and G-2030 epoxy soyate esters include 85% certified biobased content. The Santicizer Platinum G-2000 and G-2030 general-purpose plasticizers outperform other non-phthalate general-purpose plasticizers. They offer high processing performance, excellent low-temperature characteristics, and good heat stability, and they include a significant percentage of biobased material.
- Pentel Co., Ltd., one of Japan’s oldest stationery product manufacturers, and BASF Japan Ltd. announced today that Pentel has completely switched to BASF’s non-phthalate plasticizer, Hexamoll DINCH, in the production of all Polyvinylchloride (PVC) erasers under the “Ain” and “Hi-POLYMER” brand erasers on November 16, 2021. Due to this collaboration, Pentel has become one of BASF’s Hexamoll DINCH Trusted Partners in the Asia Pacific region. A brand relationship has been created between the two companies. One of the marketing activities is ingredient branding on eraser packaging. Hexamoll DINCH PVC erasers are available in all countries where Pentel conducts business.
Segmentation Analysis:
As per the research analysis, the global non-phthalate plasticizers market is segmented by type into benzoates, adipates, trimellitates, epoxies, and others; by application into wires and cables, films and sheets, flooring and wall coverings, consumer goods, coated fabrics, and others; and by end user into building and construction, sports and leisure, healthcare, food and beverages (F&B), electrical and electronics, and others.
Based on application the global non-phthalate plasticizers market has been segmented into wires and cables, films and sheets, flooring and wall coverings, consumer goods, coated fabrics, and others. The wires and cables segment will likely dominate the market during the forecast period because of the increased need for non-phthalate plasticizers in the electrical and electronics industries. The films and sheets segment is also predicted to develop significantly, owing to the growing use of non-phthalate plasticizers in the packaging industry.
Geographical Analysis:
The global non-phthalate plasticizers market is segmented into North America, Europe, South America, Asia Pacific, and Middle East & Africa.
Asia-Pacific Non-Phthalate Plasticizers Market:
Asia-Pacific will account for a relatively big revenue share in 2022 due to major reasons such as robust economic development in the region’s nations, fast industrialization, and expanding urbanization. Furthermore, rigorous environmental requirements, such as phthalate phase-out, boost demand for non-phthalate plasticizers. Because of their non-toxic and safe qualities, the cosmetics and medical sectors are key users of non-phthalate plasticizers, and the product’s usage is expanding due to fast-developing end-use industries.
Moreover, increased demand for flexible PVC goods in the automotive, electrical, and construction sectors is fuelling the regional need for non-phthalate plasticizers.
North America Non-Phthalate Plasticizers Market:
North America is predicted to increase rapidly throughout the projection period. The desire for safer alternatives to conventional phthalate-based plasticizers drives the high demand for non-phthalate plasticizers in North America. Regulatory compliance, health and safety concerns, rising consumer awareness, and desire for safer goods drive demand for non-phthalate plasticizers in North America.
The Food and Drug Administration (FDA) issued a rule revising its food additive rules on May 19, 2022, to prohibit the use of most previously-authorized phthalates as food additives since the industry has abandoned these applications. The FDA withdrew licenses for 23 phthalates and two other chemicals used in food contact: plasticizers, defoaming agents, resins, adhesives, lubricants, and slimicides.
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Competitive Landscape:
The major companies included in the global non-phthalate plasticizers market are BASF SE, Evonik, Exxon Mobil Corporation, LANXESS, Avient Corporation, Eastman Chemical Company, KLJ Group, Mitsubishi Chemical Corporation, NAN YA PLASTICS CORPORATION, and DIC CORPORATION.
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