Vinyl Flooring Plasticizers Market to Attain a Revenue of US$ 2.01 Billion by 2033: Fact.MR Analysis
Vinyl flooring plasticizer sales in Germany are forecasted to increase at 2.8% CAGR over the next ten years.
Rockville, Sept. 26, 2023 (GLOBE NEWSWIRE) — As per this detailed report by Fact.MR, a market research and competitive intelligence provider, the global Vinyl Flooring Plasticizers Market is projected to expand at 3.7% CAGR and attain a valuation of US$ 2.01 billion by the end of 2033.
Rapid industrialization and urbanization in Asian economies have been creating a highly opportune scenario for the vinyl flooring plasticizers market as well as other markets as well. The expanding population and rising disposable income in the Asia Pacific region are also estimated to further bolster demand for vinyl flooring plasticizers over the next ten years. China and India are projected to be at the helm of the regional market growth across the study period and beyond.
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Key Segments of Vinyl Flooring Plasticizers Industry Research Report
| By Plasticizer Type | By Application | By Region |
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Rising awareness regarding climate change among people has increased the emphasis on sustainability and this is influentially boosting the demand for non-phthalate plasticizers while killing the sales of phthalate-based plasticizers along the way.
Key Takeaways from Market Study
- The global vinyl flooring plasticizers market is estimated at US$ 1.39 billion in 2023.
- From 2023 to 2033, vinyl flooring plasticizer shipments are set to rise at a CAGR of 3.7%.
- The global market is projected to reach US$ 2.01 billion by 2033-end.
- Increasing investments in infrastructure development, growing industrialization and urbanization, the launch of new construction projects, and the growing use of vinyl flooring in hospitals are key market drivers.
- Rising availability of vinyl flooring plasticizer alternatives is the prime constraint for overall market growth in the future.
- Sales of vinyl flooring plasticizers in Germany are projected to increase at 2.8% CAGR.
- Demand for vinyl flooring plasticizers in the Asia Pacific region accounts for 40% of the global market share at present.
- Sales of phthalate-based plasticizers account for around 80% of the global revenue share in 2023.
“Vinyl flooring plasticizer companies looking to bolster their presence in the global competitive landscape should focus on amplifying their business in the APAC region,” says a Fact.MR analyst
Winning Strategy
Vinyl flooring plasticizer companies need to focus on incorporating sustainable practices in their manufacturing and sales approach if they want to stay relevant in the business going forward. Vinyl flooring plasticizer suppliers should also focus on finding new applications for plasticizers and diversify to widen their business scope and not just be dependent on specific flooring applications.
Manufacturers of vinyl flooring plasticizers primarily generate revenue from phthalate-based ones, which are proven to be harmful to the environment and human health. Increasing awareness of this harm drives a growing demand for non-phthalate-based alternatives, presenting a significant market opportunity for the future.
Key Companies Profiled
- BASF SE
- UPC Group
- Evonik Industries AG
- Aekyung Petrochemical Co. Ltd.
- Nan Ya Plastics Corporation
- LG Chem Ltd.
- Eastman Chemical Company
- Shandong Qilu Plasticizers Co. Ltd.
- Shandong Hongxin Chemicals Co. Ltd.
- ExxonMobil Corporation
To succeed in this shifting market, vinyl flooring plasticizer vendors must not only innovate and introduce sustainable alternatives but also ensure competitive pricing. Additionally, raising awareness about the advantages of sustainable vinyl flooring plasticizers is crucial in gaining user acceptance. Government initiatives and incentives promoting sustainability can further support market players in this transition.
| Report Attributes | Details |
| Forecast Period | 2023 – 2033 |
| Value Projection (2033) | US$ 2.01 Billion |
| Growth Rate (2023-2033) | 3.7% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 36 Tables |
| No. of Figures | 68 Figures |
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Over the last ten years, the demand for vinyl flooring plasticizers in the United States has significantly increased due to the growing preference for resilient flooring. Consumers in the country seek both aesthetics and durability, qualities easily offered by vinyl plasticizers. With a heightened emphasis on sustainability, U.S. authorities are implementing strict regulations on phthalate-based vinyl plasticizers, promoting the shift towards non-phthalate alternatives in vinyl flooring.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global vinyl flooring plasticizers market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based on plasticizer type (phthalates, non-phthalates) and application (residential, commercial, industrial), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
Checkout More Related Studies Published by Fact.MR Research:
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Vinyl Acetate Monomers Market: The global vinyl acetate monomers market is valued at US$ 8.8 billion in 2022 and is expected to expand at a CAGR of 4.7% to reach US$ 13.9 billion by the end of 2032. Polyvinyl acetate dominated the global market with 42.6% market share in 2021.
Vinyl Siding Market: The global vinyl siding market is estimated at USD 6.7 Billion in 2022 and is forecast to surpass USD 10.3 Billion by 2032, growing at a CAGR of 4.4% from 2022 to 2032.
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