TAGS: PVC, Plasticizers and Sustainability Additives for Packaging
Plasticizers market size is valued at 20.44 billion dollars in 2020 and is projected to reach 32.53 billion dollars by 2028, growing at a CAGR of 6.09% from 2021 to 2028.
The growing demand for flexible PVC for different applications such as flooring & wall coverings, coated fabrics, film & sheet, wire & cable, & consumer goods, and expanding packaging industries are expected to drive the plasticizers market over the predicted years.
Plasticizers Market Overview
The growing demand for flexible
PVC for different applications such as flooring & wall coverings, coated fabrics, film & sheet, wire & cable, & consumer goods, and expanding packaging industries are expected to drive the plasticizers market over the predicted years.
Also, continuous innovation in plasticizers and increasing demand from the construction industry expect a boost to the market in the coming years. Additionally, rising adoption of non-phthalate & high molecular weight phthalate plasticizers is predicted and the upsurge in the demand for bio-based materials is predicted to fuel the market during the forecasted period.
There are certain restraints and challenges faced which can hinder the market growth. Stringent regulations banning the usage of
phthalates plasticizers and the toxic effect of
PVC is likely to act as a market restraint.
On the basis of geography, the global plasticizers market is classified into phthalate plasticizers (DOP,
DINP/
DIDP/DPHP, others), non-
phthalates plasticizers (DOTP, adipates, trimellitates, epoxies, benzoates, others).
The non-
phthalates plasticizers segment is expected to hold the largest market share. The factors can be attributed to the Registration, Evaluation, and Authorization of Chemicals (REACH) regulations for restrictions on the use of
phthalates.
On the basis of application, the global plasticizers market is classified into flooring & wall covering, wire & cable, coated fabric, consumer goods, film & sheet, others. It is predicted to hold the most significant CAGR in the forecasted period due to the rising demand from the packaging application in the food & beverage industry.
On the basis of geography, the global plasticizers market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The largest share in the market will be dominated by the Asia Pacific owing to the growing construction and automotive industries in this region.
Key Players
The “Global Plasticizers Market” study report will provide a valuable insight with an emphasis on global market including some of the major 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.
Source: Verified Market Research