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Plasticizers are odorless and colorless esters that perform the function of increasing the elasticity of a specific material. Benefits like durability and flexibility enhance the growth prospects of the plasticizers market. On the basis of type, the plasticizers market can be classified into phthalates, aliphates, polymeric plasticizers, and non-phthalates. Plasticizers improve flow and thermoplasticity properties of a polymer by reducing the viscosity of the polymer melt. Therefore, these aspects can assist in increasing the growth of the plasticizers market.

  • The use of plasticizers as a raw material for producing construction material such as roofs, wall insulation, building interiors, pipes, tubes, etc. is growing at a significant rate. As the construction industry is growing at a steady rate, the plasticizers market is also expected to grow at a steady rate. The Asia Pacific region is observing growth in urbanization. Hence, it is expected to record good growth during the forecast period of 2016-2024. A rise in demand for flexible PVC is also expected to accelerate the plasticizers market.
  • The manufacturers in the plasticizers market are coming up with new strategies and plans to increase their footprint. Mergers and acquisitions are one of the important strategies for getting stronghold over the plasticizers market. Expansion of production capacity is also vital owing to the growing demand for plasticizers across various sectors. Therefore, manufacturers are expanding production capacity to smoothly meet the demand. For instance, Perstorp Holding AB announced the expansion plan for the production capacity of Pevalen, a non-phthalate polyester plasticizer. This project will enable the company to increase plasticizers production up to 50000 tons per year.
  • In addition, the replacement of numerous wood and iron products such as floorings, doors, pipes, and windows with plastics will bring an increase in the growth rate of the plasticizers market throughout the forecast period.

Global Plasticizers Market: Snapshot

Thanks to the augmenting urbanization, growth of the construction industry, and the infrastructural developments in the medical and the healthcare sector, especially in emerging economies, such as China and India, the global market for plasticizers has been witnessing a remarkable progress in its size and valuation. Along with this, the surge in the demand for PVC products and the expansion of the automotive industry are also boosting this market significantly.

Moving forward, the replacement of a number of wood and iron products, such as windows, floorings, doors, and pipes, with plastics will reflect positively on the sales of plasticizers across the world in the near future. However, the harmful effects of plastics on environment, stringent government regulations limiting the usage of plastics, and the high cost of plasticizer production, together, may restrict this market from growing steadily in the years to come

The global plasticizers market offered an opportunity worth US$14.85 bn in 2015. Increasing at a CAGR 5.50% between 2016 and 2024, the market is anticipated to attain US$23.87 bn in revenues by the end of 2024.

plasticizers market

Plasticizers to Experience Continued Demand from Floor Walls and Coverings

Phthalates, non-phthalates, aliphates, and polymeric plasticizers have surfaced as the key products available in the global plasticizers market. Phthalates have been the most preferred product among consumers and are anticipated to remain substantial among all the product types over the forthcoming years.

Floor walls and coverings, wires and cables, consumer goods, and films and sheets are the prime applications of plasticizers across the world. In 2015, the demand for plasticizers was higher from floor walls and coverings than other application. With the increasing preference of consumers for new designs of floor walls and coverings in their houses and workplaces, the pace of demand from this segment is anticipated to remain high over the next few years.

Asia Pacific to Remain Leading Plasticizers Market

Asia Pacific has been leading the global plasticizers market since the last few years, thanks to the augmenting usage of PVC products in the housing and construction, electric and electronics, automotive, and the medical and healthcare industries in this region. Analysts anticipate Asia Pacific to continue registering dominance in the global market in the near future, expanding at a CAGR of 6.10% from 2016 to 2024. The increasing infrastructural development, boosted by the economic strengthening of Asian economies, especially China, Korea, Japan, and India, is projected to support the Asia Pacific market for plasticizers considerably over the forthcoming years.

North America and Europe, on the other hand, are likely to witness a sluggish progress in the next few years, as both the markets are near maturation. North America, being the hub of established industries, where leading players have been operating since long, has very limited growth opportunities for this market, which is going to affect the North America plasticizers market adversely in the near future. In the similar fashion, the market in Europe is also well-established, which is becoming unfavorable for this market.

Ferro Corp., UPC Technology Corp., Nan Ya Plastics Corp., Arkema Inc., Evonik Industries, LG Chem Ltd., Eastman Chemical Co., ExxonMobil Corp., and BASF SE are the leading producers of gastrointestinal drugs across the world. Other prominent players operating in the global gastrointestinal drugs market are Teknor Apex, Shandong Qilu Plasticizers Co. Ltd., Reagens, and Aekyung Petrochemical Co. Ltd.

Global Plasticizers Market: Overview

Plasticizers are supplements that are added to plastics enhance their properties such as plasticity and viscosity. Plasticizers soften the plastic material to make it bendable and flexible. Plasticizers have found wide applications in the manufacturing of various PVC (polyvinyl chloride) products.

The report provides in-depth analysis and forecast of the plasticizers market on the global as well as on regional level. The report includes forecast for the period from 2016 to 2024 in terms of volume (kilo tons) and revenue (US$ Mn). Quantitative data has been derived through extensive secondary research of the global plasticizers market. Secondary sources typically include company websites, relevant magazines, government documents, and press releases.

Global Plasticizers Market: Research Methodology

The top-down approach has been adopted to derive the regional numbers from global revenue and volume figures. Furthermore, the bottom-up approach has been employed to derive data for various product type and application segments based on demand for plasticizers in each geographical segment. A combination of top-down and bottom-up approaches helps in validation of the quantitative data of the market. The data was further validated with the help of primary research with industry experts to ensure accuracy of derived numbers.

Detailed analysis of various factors driving the global plasticizers market has been included for astute decision making. Impact of these drivers during the forecast period has been included with data to substantiate research findings. Furthermore, factors restraining market growth have been included for better understanding of the market. Impact of these restraints has been analyzed over the forecast period. The report also comprises various opportunities available for market growth over the next eight years. Opportunities entail untapped or recently explored factors that are anticipated to drive the plasticizers market during the forecast period.

The report includes value chain analysis to help understand the industry thoroughly. Value chain analysis comprises detailed evaluation of the roles of various entities involved in the plasticizers industry, from raw material suppliers to end-users. Various processes employed in the manufacture of plasticizers have been included in the value chain analysis. Porter’s Five Forces model has been included to determine the degree of competition in the market during the forecast period. Furthermore, market attractiveness analysis has been conducted to analyze application segments that are expected to be lucrative during the forecast period. This is based on various factors such as market size, growth rate, profitability, raw material procurement, and competition in each application segment.

Global Plasticizers Market: Segmentation

Plasticizers can be divided on the basis of products as: phthalates, non-phthalates, aliphates, polymeric, and others. Based on application type, the plasticizers market has been segmented wires & cables, floor walls & coverings, consumer goods, films & sheets, and applications. The report comprises detailed analysis of all the segments in the regional and global markets and forecast based on current and future trends in the industry in terms of volume (kilo tons) and revenue (US$ Mn).

In terms of region, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Demand for Plasticizers in each application segment type has been analyzed and forecast for a period of eight years.

Companies Mentioned in this Report

The report also comprises profiles of leading companies in the plasticizers market. These include BASF SE, ExxonMobil Corporation, Eastman Chemical Company, Evonik Industries, LG Chem Ltd., Arkema Inc., Ferro Corporation, UPC Technology Corp., Nan Ya Plastics Corp., and Aekyung Petrochemical Co. Ltd. Various attributes of these companies, such as company overview, business strategies, and recent developments form the core of the company profiles section.

This report segments the global plasticizers market as follows:

By Product

  • Phthalates
  • Non-phthalates
  • Aliphates
  • Polymeric
  • Others

By Application

  • Wires & Cables
  • Floor Walls & Coverings
  • Consumer Goods
  • Films & Sheets
  • Other Applications

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Italy
    • Spain
    • France
    • Germany
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan & Korea
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • South Africa
    • Rest of MEA

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Global Plasticizers Market

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