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The plasticisers industry is being driven by its application as additives in many materials globally. The plasticisers are majorly used in plastics and polyvinyl chloride (PVC). The market is further being boosted by the initiatives undertaken by the regulatory authorities to promote eco-friendly products. This has stimulated the demand for bio-plasticisers in developed regions. Although the phthalate-based plasticiser was a dominant segment and represented the majority of the market share of plasticisers, it is facing a wavering growth owing to the rise in health concerns and stringent government regulations. This has led to the rising demand for bio-plasticisers that is presently an important trend in the market.
The market is further aided by the product advancements and developments being made by the industry players. Exxon Mobil Corporation (NYSE: XOM) has developed Jayflex™ DINP plasticizer, which offers an opportunity to save costs and provide a good balance of properties. It is used for PVC and is a brilliant substitute for Di (2-ethylhexyl) phthalate (DOP) in most compliant PVC applications. The product is safe to use, non-carcinogenic, and non-mutagenic. It is also not toxic for reproduction category 1 or 2. The new developments within the plasticisers industry strengthen it, and further is expected to promote its growth over the forecast period.
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BASF SE, Arkema Group, Evonik Industries AG, Exxon Mobil Corporation, Eastman Chemical Company, LG Chem, and Ineos AG, among others, are the key players in the global plasticisers market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
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