Plasticizers Market Trends: Uncovering Lucrative Business Opportunities to 2022-2032
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Plasticizers Market: Size & Share by (By Type, By Application and Region) and Forecast Year 2023-2032.
Plasticizers Market Definition & Overview
Plasticizers are polymer additives that are used for softness, improving flexibility, and various other characteristics in plasticized materials. Plasticizers are of two types, primary and secondary. Primary plasticizers are used in increasing softness while secondary plasticizers have limited capability with polymers.
The KD Market Research team has developed a comprehensive market research report on a global basis on the plasticizers market, with a focus on identifying the market trends and drivers, Key companies, constraints and challenges, competitive landscape, customer insights, future outlook, and regulatory environment business owners face. The research report includes market segmentation types and future outlook, a regional perspective, and an analysis of recent plasticizers market developments.
Moreover, it provides detailed information on the base year and forecast year market size, global and regional market share, industry developments, and customer insights, as well as SWOT analysis, Porter's five forces analysis, PESTEL analysis, heat map analysis, market forecast, and major key players operating in the Plasticizers Market.
Plasticizers Market + Report Scope (by Share & Size)
The global plasticizers market is expected to grow significantly in the forecast period of 2023 to 2032. The KD Market Research analyses that the market is likely to grow with a CAGR of 5.7% during the forecast period of 2023 to 2032 and is expected to reach USD 29.6 Billion by 2032. The increase in antimicrobial protection is a major factor driving the market growth for the plasticizers market. Global Plasticizers Market is segmented by Type into Phthalates, Terephthalates, Trimellitates, Epoxides, Phosphates, Sebacates, Extenders, Aliphatic Dibasic Esters, others; by Application into Flooring & Wall, Film & Sheet Coverings, Wires & Cables, Coated Fabrics, Consumer Goods, others; by Region into North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
Plasticizers Market Insights
|
Report Metric |
Report Details |
|
Forecast Year |
2023-2032 |
|
Base Year |
2022 |
|
CAGR |
5.7% |
|
Base Year Market Size |
17.0 Bn |
|
Forecast Year Market Size |
29.6 Bn |
|
Segmentation |
By Type, By Application and Region |
|
Growth Drivers |
|
|
Regions Covered |
North America Europe Asia-Pacific Latin America Middle East and Africa |
Plasticizers Market Dynamics Growth Drivers and Challenge
Plasticizers Market Opportunities that trigger Market Growth
- Rising demand for PVC
The rising demand for PVC is increasing the demand for plasticizers as it is used in the production of PVC. Due to plasticizers, the PVCs are strong, flexible, durable, and less brittle in nature. The PVCs are high performing, and more efficient due to the presence of plasticizers.
- Increase in adoption of non-phthalate plasticizers
Phthalate is a substance that is used to make plastics stronger and hard to break. Non-phthalate plasticizers are used in various applications such as toys, packing materials, and others. Due to the increased adoption of non-phthalate plasticizers, there is higher demand for plasticizers in the market.
- Rising growth in packaging industries
The maximum of the plasticizers is used in the packaging industry. Therefore, the rising growth in the packaging industry is increasing the demand for plasticizers in the market.
Plasticizers Market Hurdles and Challenges
- Stringent government regulations
The government has imposed several rules and regulations for the use of plasticizers. This is because of protection from health problems and the environment. Furthermore, some of the plasticizers are banned or restricted due to their adverse effect. The government is also promoting bio-based and sustainable plasticizers.
- High prices of raw materials
The prices of raw material for plasticizers is high due to their manufacturing from petrol-based raw materials. This further increases the production cost and hence, it impacts negatively the growth of the plasticizers market. Companies who are manufacturing plasticizers are adopting various new strategies to diversify the raw material source and use alternatives.
Plasticizers Market Regional Analysis
In 2022, Asia-Pacific holds the largest share in the plasticizers market. The market is driven by the electric and electronic industries. China and India are major markets for plasticizers market due to rising demand and commercialization of plasticizers. The European market is also experiencing significant growth in the plasticizers market. The market is driven by the increasing demand for the electronics industry which further increase the demand for PVCs and plasticizers that are used in making wires. The North American market is also growing appropriately for plasticizers. The market is driven by the increasing demand from the textile and electronic industries. Latin America and the Middle East and Africa are expected to show lower growth in the plasticizers market during the forecast period.
Plasticizers Market Segmentation, Division, and Categorization
- 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, and others.
- By Application: Flooring & Wall, Film & Sheet Coverings, Wires & Cables, Coated Fabrics, Consumer Goods, and others.
- By Region: North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
Plasticizers Market Industry Developments
There have been various developments in the plasticizers market. Some of them are listed below.
In December 2022, BASF and StePac collaborated in order to produce new improved, and sustainable packaging solutions for other industries.
In December 2022, Evonik’s Coating Additives Business Line launched a new and multifunctional polymer additive for powder coating formulations.
In April 2021, 3F Feed & Food was acquired by Eastman Chemical Company to expand its business.
Plasticizers Market Key Featured Companies
- 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
- Others
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- Publication date: Aug 2023
- Base year: 2022
- Forecast year: 2023-2033
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