TAGS: PVC, Plasticizers and Sustainability
The global plasticizers market is projected to reach 22 billion dollars by 2030, growing at a CAGR of 4.1% from 2021 to 2030.
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 Plasticizers’ Market
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. By type, 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. By application, 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.
The phthalates segment 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 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.
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.
Major market players are
Arkema,
BASF,
Daelim Industrial,
Dow Chemical Company,
LG Chem Ltd.,
Evonik Industries,
ExxonMobil Chemical,
Eastman Chemical Company,
Ineos Group and
UPC Group.
Explore Complete Plasticizers' Range for PVC
Source: AMR