PUBLISHER: The Business Research Company | PRODUCT CODE: 1429607
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429607
Plasticizers are chemical additives employed to enhance the plasticity or fluidity of a material. They find predominant use in rubber, resins, and plastics, with a particular emphasis on polyvinyl chloride (PVC).
The types of plasticizers include phthalate plasticizers, DOP, DINP/DIDP/DPHP, other non-phthalate plasticizers, DOTP, adipates, taramellites, epoxies, and benzoates. Phthalates, as a subgroup, serve to make plastics more durable. Certain phthalates aid in dissolving other materials and are present in a myriad of products such as vinyl flooring, lubricating oils, and personal-care items such as soaps, shampoos, and hair sprays. Distribution channels encompass both online and offline avenues, while applications span across diverse areas including flooring and walls, film and sheet coverings, wires and cables, coated fabrics, consumer goods, and various other applications.
The plasticizers market research report is one of a series of new reports from The Business Research Company that provides plasticizers market statistics, including plasticizers industry global market size, regional shares, competitors with a plasticizers market share, detailed plasticizers market segments, market trends and opportunities, and any further data you may need to thrive in the plasticizers industry. This plasticizers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The plasticizers market size has grown strongly in recent years. It will grow from $100.57 billion in 2023 to $108.57 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The expansion observed in the historical period can be ascribed to robust economic growth in emerging markets, a surge in the demand for polyvinyl chloride (PVC), increased requirements for industrial packaging products, and a rise in global mergers and acquisitions (M&A) within the chemicals sector.
The plasticizers market size is expected to see strong growth in the next few years. It will grow to $145.7 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The anticipated growth in the forecast period can be linked to the rising demand for plastic or PVC and an increased need for plasticizers in the healthcare sector. Key trends expected during this period encompass the emergence of eco-friendly plasticizers, a growing utilization of recycled raw materials in plasticizers, an upswing in mergers and acquisitions, the implementation of robotics for automation in factories, and the exploration of phthalate substitutes.
The growing demand for flexible polyvinyl chloride (PVC) is a key factor contributing to the expansion of the plasticizer market. The flexibility of flexible PVC, compared to unplasticized polyvinyl chloride (uPVC), is achieved through the addition of plasticizers. This rise in demand for flexible PVC across various industries fuels the need for plasticizers. The utilization of flexible packaging, known for its enduring safety, lightweight properties, and compactness, while maintaining a low carbon footprint, further amplifies the demand for PVC within the packaging industry.
Anticipated growth in the plasticizer market is also driven by increasing demand from the construction industry. This sector, encompassing various activities related to the planning, design, development, and construction of buildings and infrastructure, relies on plasticizers to enhance the workability and flexibility of concrete and mortar. This, in turn, makes these materials easier to mix, pour, and shape, while simultaneously reducing cracking and improving overall durability. For instance, as of July 2023, the U.S. Census Bureau reported an expected annual rate of construction spending in May 2023 at $1,925.6 billion, representing a 0.9% increase from the April estimate of $1,909.0 billion. Hence, the growing demand from the construction industry is anticipated to be a driving force for the plasticizer market.
The use of eco-friendly plasticizers is on the rise, aiming to replace harmful phthalate plasticizers such as DOP, DBP, BBP, and DEP. Eco-friendly plasticizers boast properties such as waterproofing, excellent electrical resistivity, weather resistance, improved mechanical strength, and good heat stability. The substitution of phthalate plasticizers with eco-friendly alternatives is driven by these favorable attributes. Eco-friendly plasticizers, characterized by low toxicity and good compatibility, are experiencing significant demand in various applications, particularly in film and cable manufacturing. This growing preference for eco-friendly plasticizers is propelling the overall plasticizer market, contributing to the safety of human health and the environment.
Major players in the plasticizer market are actively engaged in innovative product development initiatives, exemplified by the introduction of ELATUR DINCD. This latest-generation innovative plasticizer further enhances their plasticizer portfolio. Eco-friendly plasticizers serve as chemical additives in the production of plastics and related materials, designed to be more environmentally sustainable and less detrimental to human health. For instance, in January 2022, Evonik Industries AG, a German specialty chemicals company, unveiled ELATUR DINCD, a cyclohexanoate with remarkable low-temperature flexibility and high UV resistance. This plasticizer, known for its easy processability due to low viscosity, finds suitability in demanding exterior and interior applications such as textile fabrics, roofing membranes, floor coverings, adhesives, sealants, paints, and coatings.
In September 2021, Cargill Inc., a US-based food corporation, acquired Arkema'S for an undisclosed amount. This strategic acquisition combines Arkema's manufacturing capabilities with Cargill's bio-industrial expertise, enabling the provision of a broader portfolio of bio-based solutions to customers in various industries, including plastics, automotive, medical, furniture, flooring, and specialty chemicals. The collaboration aims to offer innovative bio-based solutions for applications such as polymer and lubricant modifiers, coalescing agents for paint, and foam for furniture. Arkema, a French-based specialty chemical and advanced materials company, brings valuable expertise to this partnership.
Major companies operating in the plasticizers market report are LG Chem Ltd., Dow Chemical Company, BASF SE, UPC Group, Evonik Industries, Arkema S.A., Ineos Group, Eastman Chemical Company, Exxon Mobil Corporation, Nan Ya Plastics Corporation, Indo-Nippon Chemical Co. Ltd., KLJ Group, Amines & Plasticizers Limited, Lemon-Flex Company Limited, Bluesail Group Co. Ltd., Zhejiangjiaao Enprotech Stock Co.Ltd., Shanghai Rongou Chemical Technology Co. Ltd., Nayakem Organics Pvt. Ltd., Gapuma UK Ltd., Alphagary, Perstorp, DOMO Chemicals, MegaChem (UK) Ltd., Grupa Azoty ZAK S.A., Gazprom Neft, Krahn Chemie Group, SIBUR, GJ Chemical, The Chemical Co., Chemionics Corp., ChemCeed, Valtris, Palmer Holland Inc., Hanwha International LLC, TRInternational Inc., Broadview Technologies Inc., Lestar Quimica, Innospec, elekeiroz, Laxness, Linevol, BIOPOL S.A., Astra Polymers Compounding Company, Nassagi Iran Rise Alborz, Al Faisal Plastic Company, I. Plast Ltd., Chryso, Misr El-Hegaz Group, nasydco, CEMEX Egypt, Teknor Apex.
Asia-Pacific was the largest region in the plasticizers market in 2023. North America was the second-largest region in the global plasticizers market. The regions covered in the plasticizers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the plasticizers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
The plasticizers market consists of the sales of azelates, citrates, ortho-phthalates, terephthalates, and sebacates. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Plasticizers Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on plasticizers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for plasticizers? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The plasticizers market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.