The global market value of plasticisers is forecast to increase to more than US$19.5 billion in 2020 with Asia-Pacific and Eastern Europe set to be major growth markets, according to the latest market research study by Ceresana.
"In 2012, about 87% of global plasticiser consumption was processed in plastic products, the majority being films and cables", explained Oliver Kutsch, CEO of Ceresana. Demand for plasticisers in the production of rubber products, paints and varnishes, as well as adhesives is considerably lower.
Ceresana expects the highest growth rates in plasticizer use to be for the BRIC countries, but the USA is also likely to increase demand for plasticisers during the next eight years. The report suggests an increasing demand for phthalate-free plasticisers will stimulate the market in Western Europe.
Health concerns of consumers and possible further bans on the use of phthalates will lead to an increased demand for phthalate-free and biobased plasticisers, according to the market research.
Ceresana expects phthalate plasticisers, especially DEHP, to lose even higher market shares at the favour of phthalate-free products than they did in the past. Where new production capacities are created in Western Europe, these are expected to be almost exclusively dedicated to the production of phthalate-free plasticisers.