USD 17.0 billion
Report ID:
SQMIG15A2251 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
72
|Figures:
75
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.
US Plasticizers Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 17.0 billion
Largest Segment
Flooring & Wall
Fastest Growth
Flooring & Wall
Growth Rate
5.7% CAGR
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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 Analysis By Type
The phthalates segment held a dominant position in the global plasticizers market, and it is anticipated to continue its dominance throughout the forecast period. This is primarily attributed to the high-performance properties exhibited by phthalates, including strong solvent characteristics, low transition temperature, low volatility, low diffusion rate, stability, and flame retardance. These favorable properties make phthalates widely used in various applications, such as flooring & wall coverings, film & sheet coverings, wires & cables, and consumer goods, among others. Despite concerns over their environmental impact and regulations on certain phthalates, their versatility and cost-effectiveness continue to drive their significant adoption in the plasticizers market.
Plasticizers Market Analysis By Application
In the past years, the wires & cables segment emerged as the dominant player in the global plasticizers market, and it is projected to retain its dominance in the forecast period. The segment's strong position is attributed to the increasing trend of electronic devices in several developing countries across Asia-Pacific and LAMEA regions. The growing adoption of electronic gadgets and devices, along with rapid urbanization and industrialization in these regions, is expected to be a significant driver for the wires & cables segment. Plasticizers play a crucial role in enhancing the flexibility and performance of wires and cables, making them more durable and efficient for various electrical applications. As the demand for electronic products continues to rise in these regions, the wires & cables segment is poised to maintain its leading position in the plasticizers market.
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The plasticizers market report covers several countries across different regions. In the Asia-Pacific region, the market is dominated by countries like China, Japan, and India, where there is a strong demand for polymer additives . The region's dominance is driven by the expanding electrical and electronic industries, which are experiencing significant growth in Asia-Pacific. Particularly, China stands out as the leading country in terms of plasticizers demand and commercialization, showcasing a robust market for these polymer additives. The surge in demand for plasticizers in the electrical and electronic sectors is attributed to the rising adoption of electronic devices in various applications. As Asia-Pacific continues to witness industrial expansion and economic development, the plasticizers market in the region is expected to further thrive, propelled by the growing electrical and electronic industries, with China at the forefront of this growth.
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Plasticizers Market Drivers
Rise in Urbanization
Plasticizers Market Restraints
Stringent Regulation
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The plasticizers market exhibits a highly competitive landscape with the presence of several key players striving to maintain their market position. These companies engage in various strategies such as mergers, acquisitions, partnerships, and new product developments to gain a competitive edge. Major players focus on expanding their product portfolios and developing innovative, eco-friendly plasticizers to meet the evolving consumer demands and stringent regulations. Additionally, manufacturers are investing in research and development activities to enhance the performance and sustainability of their products. With the growing demand for eco-friendly solutions, players are anticipated to increasingly focus on developing bio-based plasticizers to cater to a more environmentally conscious market.
Plasticizers Market Top Player’s Company Profiles
Plasticizers Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the future prospects of the plasticizers market look promising, driven by factors such as rising population, urbanization, and industrialization in developing economies. The construction and automotive industries in countries like China, India, and Brazil are expected to contribute significantly to the market's growth, as they require a substantial number of plasticizers for various applications. Moreover, the increasing demand for eco-friendly and sustainable plasticizers due to stringent government regulations and growing environmental awareness is likely to further boost the market. Continuous innovations and research in developing bio-based and non-phthalate plasticizers are also expected to present new opportunities for market expansion in the coming years.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 17.0 billion |
Market size value in 2031 | USD 26.49 billion |
Growth Rate | 5.7% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Plasticizers Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Plasticizers Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Plasticizers Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Plasticizers Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG15A2251