Description :
The global plasticizers market was valued at $ 15,179 million in 2015 , and is expected to reach $ 18,538 million by 2022 , registering a CAGR of 2.9 % from 2016 to 2022 . Plasticizers are additives incorporated in a material to increase its flexibility , workability , tear resistance , and durability . These compounds lower the second-order transition temperature of micromolecules , elastic modulus , tensile strength , density , and hardness & melt viscosity of the material , thereby making it soft and resilient . Plasticizers also reduce polymer – polymer chain secondary bonding by spreading them apart , increasing the free volume , which enhances flexibility , elongation at break , toughness , power factor , and dielectric constant . An effective plasticizer must contain two types of structural components : polar and nonpolar . The polar component must be able to bind reversibly with the polymer , thereby softening it , while the non-polar part controls the polymer interaction to maintain its crystallinity .
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Change in lifestyle and increased disposable income of consumers in Asia-Pacific , Middle East , and Latin America have led to increase in growth of consumer electronics & medical industries , leading to high market potential for plasticizers . Growth in population and urbanization in emerging economies , such as India and China , have boosted the construction activities and automobile production , thus driving the market growth . However , strict regulations , fluctuations in cost , and availability of raw materials that serve as plasticizer feedstock may cause a significant reduction in the plasticizer market revenue , thus hampering this growth .
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The report segments the global plasticizers market based on type , application , and geography . By type , the market is divided into phthalates , terephthalates , trimellitates , epoxides , phosphates , sebacates , extenders , aliphatic dibasic esters , and others . Phthalates is the dominant product segment , owing to their high-performance properties such as strong solvent , low transition temperature , low volatility , low diffusion , stability , and flame retardance . By application , the market is categorized into flooring & wall , film & sheet coverings , wires & cables , coated fabrics , consumer goods , and others . Geographically , it is analyzed across North America , Europe , Asia-Pacific , and LAMEA . In 2015 , Asia-Pacific accounted for the largest share , owing to emergence of China as the key contributor in consumption of plasticizers , and it is expected to maintain its dominance during the forecast period .
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