The demand for plasticizers to increase to about 9.75 billion tonnes worldwide until 2024, according to a new report from Ceresana.
About 87% of all plasticizers were used for plastic products in 2016. Films used 2.14 million tonnes alone, followed closely by cables and profiles. Demand for plasticizers in the production of adhesives, rubber products, paints and varnishes is reportedly considerably lower. Until 2024, Ceresana expects the highest increases in plasticizer demand for cables and cable sheathing.
The plasticizer industry in Asia-Pacific reportedly accounted for about 59% of global demand in 2016. Due to above-average growth, demand in this region is predicted to rise to about 6 million tonnes in the years to come. Asia and Western Europe ranked second in 2016 with 12.1%, followed by North America with 11.5%.
For more information, visit www.ceresana.com.