Plasticizers Market - Forecast(2021 - 2026)
Plasticizers are organic compounds added to polymers to facilitate processing and to increase the flexibility and toughness of the final product by internal modification of the polymer molecule. Polyvinyl chloride (PVC) accounts for 80-90% of world plasticizer consumption . The main factor owing to the growth of this industry is growing consumption from industries like automotive industry, home appliances, electric wires and cables. Phthalates accounted for 70% of the world consumption of plasticizers in 2014, down from approximately 88% in 2005 and are forecast to account for 65% of world consumption in 2020. This decline is due to the increasing concerns over environmental effects. The plasticizers market has been segmented by type, application and geography exclusively. Based on the types of additives commercially available, the market is categorized widely into two categories, which are, phthalates and non-phthalates. Each type varies greatly and the composition is diff