Demand for Plasticizers to Grow at a CAGR of 6.41% from 2014-19 in Asia-Pacific: MarketsandMarkets
The report, “Plasticizers Market by Type (Low Phthalates, High Phthalates, and Non-Phthalates) Sub-Type (DOP, DINP/DIDP, DOTP, Bio-Based, & Others) & Geography - Trends and Forecasts to 2019”, defines and segments the plasticizers market with analysis and forecasting of the consumption volume and value.
The Asia-Pacific ? Biggest market of plasticizers
The 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. 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.
“Low phthalates ?the biggest type segment, and DOTP?the fastest growing sub-type”
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 l
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