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2022

Plasticizers Market

Plasticizers Market Size, Share, Competitive Landscape and Trend Analysis Report by Type and Application : Global Opportunity Analysis and Industry Forecast, 2021-2030

MC : Renewable, Speciality and fine chemicals

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Author's: Bhagyashri Patil| Pratik Mandon | Eswara Prasad
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Plasticizers Market Statistics – 2030

The global plasticizers market was valued at $14.7 billion in 2020, and is projected to reach $22.0 billion by 2030, growing at a CAGR of 4.1% from 2021 to 2030.

Plasticizers are polymer additives meant for improving flexibility, softness, workability, and volatility of the plasticized materials. They may be internal or external based on the kind of modifications done to the materials to which they are added. Furthermore, external plasticizers can be grouped into primary and secondary. Primary plasticizers cause elongation & increased softness of the materials, while secondary plasticizers have limited compatibility with polymers and are used in combination with other plasticizers. Moreover, the market is expected to be fueled by increased adoption of non-phthalate and high molecular weight phthalate plasticizers, as well as an increase in demand for bio-based materials throughout the estimated period. Plasticizers are available as different types in market among which phthalates, terephthalates, epoxies, and aliphatics are highly adopted.

Plasticizers Market

The global plasticizers market is driven by rise in demand for flexible PVC in different applications, increase in adoption of non-phthalate & high molecular weight phthalate plasticizers, and growth in packaging industries. Asia-Pacific dominates the market, in terms of volume & growth, due to massive demand and production in China as well as high developing rate of the market in India & other countries. Strict regulatory bans on some of the phthalates and toxicity of PVC limit the market growth. Continuous innovation in plasticizers resulting in generation of its bio-derived type and R&D activities for producing new applications by different market players are projected to provide numerous opportunities for development of the plasticizer market.

The plasticizers market is segmented on the basis of type, application, and region. Bytype, the market is segmented into phthalates, terephthalates, trimellitates, epoxides, phosphates, sebacates, extenders, aliphatic dibasic esters, and others. Phthalates is further segmented into DINP, DIDP, DPHP, and DOP.Byapplication, the market segmentation includes flooring & wall, film & sheet coverings, wires & cables, coated fabrics, consumer goods, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Comprehensive competitive analysis and profiles of major market players, such as Arkema S.A., BASF SE, Daelim Industrial Co. Ltd., Dow Chemical Company, LG Chem Ltd., Evonik Industries AG, ExxonMobil Chemical, Eastman Chemical Company, Ineos Group and UPC Group, are considered in the report. 

Plasticizers Market, by Type

The phthalatessegment dominated the global plasticizers market in 2020, and is expected to maintain its dominance during the forecast period, owing to their high-performance properties such as strong solvent, low transition temperature, low volatility, low diffusion, stability, and flame retardance.

Plasticizers Market
By Type
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Phthalates is projected as the most lucrative segment.

Plasticizers Market, by Application

The wires & cables segment dominated the global plasticizers market in 2020, and is expected to maintain its dominance during the forecast period, owing to rise in trend of electronic devices in several developing countries of Asia-Pacific & LAMEA, which is expected to be a key driver for the market.

Plasticizers Market
By Application
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Wires and Cables is projected as the most lucrative market.

Plasticizers Market, by Region

Asia-Pacific accounted for the largest share of the plasticizers market in 2020. The Asia-Pacific market for plasticizers is expected to grow at the highest CAGR, in terms of both volume and value. An expansion of Asia-Pacific plasticizers business is growing as electrical & electronic industries is growing. China is the leading country in terms of demand and commercialization of plasticizers.

Plasticizers Market
By Region
2030
Asia-pacific 
North America
Europe
LAMEA

Asia-Pacific is projected as the most lucrative segment.

Key Benefits For Stakeholders

  • The report provides in-depth analysis of the global plasticizers market along with the current trends and future estimations. 
  • This report highlights the key drivers, opportunities, and restraints of the market along with the impact analysis during the forecast period.
  • Porter’s five forces analysis helps to analyze the potential of the buyers & suppliers and the competitive scenario of the global plasticizers market for strategy building.
  • A comprehensive market analysis covers the factors that drive and restrain the global plasticizers market growth.
  • The qualitative data about market dynamics, trends, and developments is provided in the report.

Impact Of Covid-19 On The Global Plasticizers Market

  • Owing to COVID-19 pandemic, transport limitations were implemented, resulting in reduced industrial production and disrupted supply chains, which affected global economic growth by a substantial proportion, severely impacting market growth.
  • The companies have not earned any profit as a result of the work stoppage and not only the companies lost money however they also lost suppliers who are providing the required materials to various companies to be used in construction sector, all those suppliers are also facing huge losses.
  • Furthermore, due to social distancing norms during COVID-19, the manufacturing companies worked with limited workforce; thus, negatively impacted the production and construction processes.

Plasticizers Market Report Highlights

Aspects Details
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By Type
  • Phthalates
    • Diisononyl Phthalate (DINP)
    • Diisodecyl Phthalate (DIDP)
    • Di-(2-Propyl Heptyl) Phthalate (DPHP)
    • Dioctyl Phthalate (DOP)
    • Other Phthalates
  • Terephthalates
  • Trimellitates
  • Epoxides
  • Phosphates
  • Sebacates
  • Extenders
  • Aliphatic Dibasic Esters
  • Others
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By Application
  • Flooring & Wall
  • Film & Sheet Coverings
  • Wires & Cables
  • Coated Fabrics
  • Consumer Goods
  • Others
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Rest Of Europe)
  • Asia-Pacific 
  • LAMEA 
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By Key Market Players
  • Arkema S.A.
  • BASF SE
  • Daelim Industrial Co. Ltd.
  • Dow Chemical Company
  • LG Chem Ltd.
  • Evonik Industries AG
  • ExxonMobil Chemical
  • Eastman Chemical Company
  • Ineos Group
  • UPC Group

Analyst Review

Plasticizers are not simply additives; however they determine the physical properties of polymers & materials to which they are added. Contemporary plasticizers constitute of those chemicals & molecules, which bring about high performance to different applications in a safe & sustainable manner. Therefore, a shift toward bio-based plasticizers is observed in the industry, owing to rigorous R&D and large number of patents published on it. Phthalates constitute more than half of the plasticizers market; however this trend is expected to decline due to its adverse environmental & health impacts. Another factor responsible for this decline is the strict ban & regulation imposed by different regulatory bodies.   

Bio-derived plasticizers, such as epoxides & sebacates, are expected to gain manufacturers’ interest and expand globally with highest growth rates as these are non-toxic alternatives, renewable in nature, and employ vegetable raw materials. Rise in consumer demand for natural and organic additives in cosmetics has fueled the demand for plasticizers as natural ingredients in the industry. Key industry leaders aim to eliminate harmful phthalates in their products by employing non-phthalates or bio-based plasticizers.

Asia-Pacific is the highest revenue contributor in the plasticizers market, covering more than half of the market share, due to significant stand of China as a dominant country in polymers as well as plasticizers market. In addition, the region is expected to grow at the highest CAGR owing to rapid development in emerging economies such as India, Korea, and other countries.

The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key players to increase their market share and sustain intense competition in the industry.

Author Name(s) : Bhagyashri Patil| Pratik Mandon | Eswara Prasad
Frequently Asked Questions?

Upsurge in demand for flexible PVC is expected to boost the plasticizers market growth.

The market value of global plasticizers market in 2021 is expected to be $14.7 billion and projected to rise to $22.0 billion in 2030.

The leading players in the market Arkema S.A., BASF SE, Daelim Industrial Co. Ltd., Dow chemical Company, LG Chem Ltd, Evonik Industries AG, ExxonMobil Chemical, Eastman Chemical company, Ineos Group, and UPC Group.

The packaging industry is projected to increase the demand for plasticizers market

The global plasticizers market is segmented on the basis of derivative type, application and region.

Increasing use of HMW phthalates and non-phthalates is the main driver of plasticizers Market

Due to COVID-19 pandemic, transport limitations were implemented, resulting in reduced industrial production and disrupted supply chains, which affected global economic growth by a substantial proportion, severely impacting market growth.

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Plasticizers Market

Global Opportunity Analysis and Industry Forecast, 2021-2030