Product Code: SQMIG15A2251
Plasticizers Market size was valued at USD 17.0 billion in 2022 and is poised to grow from USD 17.97 billion in 2023 to USD 26.49 billion by 2030, at a CAGR of 5.7% during the forecast period (2023-2030).
Plasticizers are essential additives used to enhance the flexibility, softness, workability, and volatility of plasticized materials. They can be internal or external, depending on the modifications they bring to the materials they are added to. External plasticizers can be further classified as primary or secondary, with primary ones imparting elongation and increased softness to materials, while secondary ones have limited compatibility with polymers and are used in combination with other plasticizers.
The market's growth is expected to be driven by the increasing adoption of non-phthalate and high molecular weight phthalate plasticizers, as well as a growing demand for bio-based materials over the forecast period. The market for plasticizers is dominated by various types, including phthalates, terephthalates, epoxies, and aliphatics. Factors propelling the global plasticizers market include the growing demand for flexible PVC in various applications, the rise in the use of non-phthalate and high molecular weight phthalate plasticizers, and the expansion of industries.
Top-down and bottom-up approaches were used to estimate and validate the size of the global Plasticizers Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Plasticizers Market Segmental Analysis
The plasticizers market is categorized based on type, application, and region. In terms of type, the segments include phthalates, terephthalates, trimellitates, epoxides, phosphates, sebacates, extenders, aliphatic dibasic esters, and others. The phthalates segment is further divided into DINP, DIDP, DPHP, and DOP. Regarding applications, the market is segmented into flooring & wall, film & sheet coverings, wires & cables, coated fabrics, consumer goods, and others. Geographically, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Plasticizers Market Drivers
Rise in Urbanization
- The plasticizers market is expected to be driven by various factors in developing economies, including rising population, urbanization, and industrialization. Notably, countries such as China, India, and Brazil are experiencing significant infrastructure development, leading to a surge in demand for plasticizers. These developing nations require substantial amounts of construction materials and automotive components. As they construct new roads, bridges, airports, ports, and other projects, the demand for plastic products like pipes, wires, and cable insulation also increases. Consequently, the need for more efficient and sustainable infrastructure is expected to fuel the demand for plasticizers in the coming years.
Plasticizers Market Restraints
Stringent Regulation
- Governments across the globe have implemented strict regulations regarding the use of plasticizers to safeguard the environment and mitigate health risks. As a result, certain phthalate plasticizers have been either banned or restricted in specific applications due to their detrimental impact on health and the environment. Additionally, many governments are actively promoting the adoption of bio-based and sustainable plasticizers to encourage the use of eco-friendly products. This focus on eco-friendly alternatives is anticipated to drive the demand for environmentally conscious plasticizers and foster a sustainable approach to the industry.
Market Trends of Global Plasticizers Key
- The plasticizers market is experiencing several key trends that are shaping its growth and dynamics. One prominent trend is the increasing demand for non-phthalate and bio-based plasticizers due to growing environmental concerns and regulatory restrictions on phthalates. Additionally, there is a rising trend of using high molecular weight phthalate plasticizers, which offer enhanced performance and compatibility with various polymer materials.
- Another significant trend is the surge in demand for plasticizers in the construction and automotive industries, driven by rapid urbanization and infrastructure development in emerging economies. The wires & cables segment is witnessing substantial growth due to the rising adoption of electronic devices in developing countries. Moreover, continuous innovation in plasticizers and research and development activities by market players are opening new avenues for the market's expansion.
Table of Contents
- Executive Summary
- Market Overview
- Wheel of Fortune
- Research Methodology
- Information Procurement
- Secondary & Primary Data Sources
- Market Size Estimation
- Market Assumptions & Limitations
- Parent Market Analysis
- Market Overview
- Market Size
- Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
- Key Market Insights
- Technology Analysis
- Pricing Analysis
- Supply Chain Analysis
- Value Chain Analysis
- Ecosystem of the Market
- IP Analysis
- Trade Analysis
- Startup Analysis
- Raw Material Analysis
- Innovation Matrix
- Pipeline Product Analysis
- Macroeconomic Indicators
- Top Investment Analysis
- Key Success Factor
- Degree of Competition
- Market Dynamics & Outlook
- Drivers
- Opportunities
- Restraints
- Challenges
- Regulatory Landscape
- Porters Analysis
- Competitive rivalry
- Threat of Substitute Products
- Bargaining Power of Buyers
- Threat of New Entrants
- Bargaining Power of Suppliers
- Skyquest Special Insights on Future Disruptions
- Political Impact
- Economic Impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
- Global Plasticizers Market by Type
- Market Overview
- Phthalates
- Terephthalates
- Trimellitates
- Epoxides
- Phosphates
- Sebacates
- Extenders
- Aliphatic Dibasic Esters
- and Others
- Global Plasticizers Market by Application
- Market Overview
- Flooring & Wall
- Film & Sheet Coverings
- Wires & Cables
- Coated Fabrics
- Consumer Goods
- and Others
- Global Plasticizers Market Size by Region
- Market Overview
- North America
- USA
- Canada
- Germany
- Spain
- France
- UK
- Rest of Europe
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Brazil
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA
- Competitive Landscape
- Top 5 Player Comparison
- Market Positioning of Key Players, 2021
- Strategies Adopted by Key Market Players
- Top Winning Strategies
- By Development
- By Company
- By Year
- Recent Activities in the Market
- Key Companies Market Share (%), 2021
- Key Company Profiles
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- ExxonMobil Corporation - United States
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Eastman Chemical Company - United States
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Evonik Industries AG - Germany
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- LG Chem Ltd. - South Korea
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- UPC Technology Corporation - Taiwan
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Aekyung Petrochemical Co. Ltd. - South Korea
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Perstorp Holding AB - Sweden
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Jiangsu Zhengdan Chemical Industry Co., Ltd. - China
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Nan Ya Plastics Corporation - Taiwan
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Shandong Qilu Plasticizers Co., Ltd. - China
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Mitsubishi Chemical Corporation - Japan
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- Songwon Industrial Co., Ltd. - South Korea
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- KLATencor Corporation - United States
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
- ExxonMobil Chemical Company - United States
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments