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Vinyl Flooring Plasticizers Market Investigation Reveals Enhanced Growth during the forecast Period, 2018-2027
The vinyl flooring plasticizers market is projected to expand at a steady CAGR of 3.2% in terms of value throughout the period of assessment, 2018-2027
Vinyl flooring plasticizers market continues to witness lucrative opportunities across countries owing to the rising demand of flooring industry across the globe. Moreover, increase in the demand of ecologically sound vinyl flooring products has influenced the adoption of non – phthalate plasticizers in the vinyl flooring market. This has encouraged manufacturers to adopt for new innovations in order to meet the rising demand of non–phthalate plasticizers.
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In a new study compiled by Fact.MR, the growth prospects for vinyl flooring plasticizers are likely to remain positive throughout the period of forecast. According to the report, the vinyl flooring plasticizers market is projected to expand at a steady CAGR of 3.2% in terms of value throughout the period of assessment, 2018-2027. In addition, the report reveals that the growth of vinyl flooring plasticizers market continues to sprint in Asia Pacific and Latin American region in the coming years.
Vinyl Flooring Plasticizers Market – Strengthening Flooring Industry
Flooring is one area in the construction industry that has been witnessing rapid changes over the past two decades. The advent of several new technologies and materials along with the increasing use of specialized machinery have meant that the field has changed beyond recognition, especially with reference to the industrial and commercial flooring sectors. The industrial and commercial flooring segments have been maintaining a healthy pace of growth in the recent few years. The rising demand of vinyl flooring in the commercial sector like hospitals and sports clubs will escalate the growth of vinyl flooring plasticizers in the future.
Asia Pacific Remained an Attractive Market for Vinyl Flooring Plasticizers
Asia Pacific has been witnessing significant growth in the vinyl flooring plasticizers market. APAC is expected to maintain its dominance in the vinyl flooring plasticizers market during the forecast period, 2018 to 2027. The adoption of sustainable construction products by the people in APAC has led to an upsurge in the demand for vinyl flooring plasticizers. Despite this, around 90% of the total plasticizers manufactured for flooring industry comes from phthalate-based plasticizers especially DEHP.
Europe has been the dominant vinyl flooring plasticizers market, commanding over 26% of the global demand. North America accounts for over 22% share in the global vinyl flooring plasticizers market. Imports of PVC flooring from Asia to the United States have been on the rise over the last decade. According to the statistics from the database USA Trade Online, the value of plastic floor covering imports from Asia to the U.S. rose around 5 times in 10 years. The majority of those imports are likely to contain toxic phthalates such as DEHP.
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Dinp Non-phthalate Plasticizer Is Expected to Gain Traction in the Market
The increase in the permissible limits of DINP by REACH in flooring products will help in strengthening the demand of phthalate plasticizers in the flooring industry. DINP remained the preferred choice because of its low costs, low toxicity and high functional efficiencies in comparison to other phthalate plasticizers.
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