TAGS: PVC, Plasticizers and Sustainability Additives for Packaging
The global plasticizers market was valued at 14.7 billion dollars in 2020, and is projected to reach 22.0 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 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.
Segmentation of Market
The plasticizers market is segmented based on 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.
Some of the key market players in this area includes, 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, are considered in the report.
Plasticizers Market by Type:
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.
Plasticizers Market by Region:
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.
Exlore Complete Range of Plasticizers for Flexible PVC
Source: Allied Market Research