Plasticizer Market Research Report - Global Forecast Till 2030

Plasticizer Market: Information by Type (Phthalate Plasticizer and Non-Phthalate Plasticizer), Application (Flooring & Wall Covering, Wire & Cable, Packaging, Consumer Goods, Medical & Healthcare, Toys and Others) and Region Forecast till 2030

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Plasticizers Market Overview:


The Plasticizer Market Value amounted to USD 19.31 Billion in the year 2019. It is anticipated to touch a total of USD 29.77 Billion by the end of the year 2030. The Plasticizer Market size will rise with a CAGR of 6.0 % from the year 2022-2030.


Plasticizers are chemical compounds that are added to polymers to increase their flexibility and firmness. 80-90 % of the total Plasticizer is consumed by the Polyvinyl chloride (PVC) industry. Phthalates and adipates are the most widely known and used types of plasticizers. These may also be used to enhance the quality of clay, concrete, and other construction materials. These are also known as dispersants and softeners as they impart softness and viscosity to the final products.


The Plasticizer Market Share is anticipated to increase at a faster rate in the coming future.


COVID 19 Analysis


People across the globe are being affected by Coronavirus, the global pandemic. It has negatively impacted the operations of all the industries, except for the pharmaceutical industry. There has been a complete lockdown situation in almost every part of the world and people are forced to stay at their homes. Every nation has sealed their borders which mean no international travel will be possible shortly. The businesses are also being shut down due to which many people were laid off from their workplaces. This has affected the Plasticizer Market Growth as well.


It is being anticipated that post the Covid19 situation, Global Plasticizer Market Share will grow tremendously. PVC is a popularly used material in the construction of commercial as well as domestic buildings. It is used for wall coverings, false ceilings, roofing membranes, and other such purposes. As the construction industry is constantly booming it is also giving a push to the PVC and Plasticizers market.


Competitive Landscape


The list of major Global Plasticizer Market Key Players is as follows:



  • BASF SE (Germany)

  • DIC Corporation (Japan)

  • LG Chem (South Korea)

  • Evonik (Germany)

  • Exxon Mobil Corporation (US)

  • Lanxess AG (Germany)

  • Nan Ya Plastics (Taiwan)

  • KAO Corporation (Japan)

  • Polynt SPA (Italy)

  • KLJ Group (India)

  • Polyone Corporation (US)

  • Jiangsu Zhengdan Chemical Industry Co. Ltd. (China)

  • OXEA GmbH (Germany)

  • Vertellus Holdings LLC (US)

  • Dahin Co. (Taiwan)


Market Dynamics


Drivers


Plasticizers help in making the polymers soft and flexible which further makes the end-products more durable. These flexible PVC materials are used in making pipe, flooring, ceiling, and wall covering, adhesive films, pool liners, wires, automotive, and medical devices. In the year 2018, about 7.45 million tons of plasticizers were used for making plastic and other PVC products.


Opportunity 


The development of eco-friendly and bio-based plasticizers is providing a crucial opportunity for the growth of its market. These are produced from vegetable waste and other natural raw materials and are used as an alternative to petroleum-based plasticizers. The ban on certain phthalates in the production of consumer goods, such as medical equipment or food packaging materials, is increasing the demand for bio-based plasticizers.


Restraints


Many non-governmental organizations like the USGBC (U.S. Green Building Council) are actively promoting the use of non-phthalates plasticizers because they are less hazardous to the environment. Many nations have banned the use of certain phthalates in the production of consumer products. For example, The European Parliament prohibits the use of DEHP, DBP, and BBP in kid’s toys and child care products.


Value Chain Analysis


Plasticizer helps in changing the overall quality and physical properties of a material. It helps in reducing the attraction between monomers or in a chain of polymers to increase its flexibility and elasticity. Due to the stringent rules and regulations regarding the use of phthalates plasticizers the major end-user industries, such as automotive, electrical, medical & healthcare, etc, are shifting to bio-based plasticizers as they are less hazardous to nature.


Plasticizer Market Share, by Application 2018 (%)

 Plasticizer Market


Source: MRFR Analysis


Market Segmentation


According to the global Plasticizer Market Analysis, its market can be divided into various segments. These are based on resin type and based on application. 


Based on resin type


The plasticizer market can be further subdivided into non-phthalates and phthalates. The non-phthalates include Di-octyl Terephthalate (DOTP), Benzoates, Epoxy, Trimellitate, Adipate, and many others. The phthalates include Di-isononyl Phthalate (DINP), Di-Ethylhexyl Phthalate (DEHP), Di-propylheptyl Phthalate (DPHP), Di-isodecyl Phthalate (DIDP), and many others. Due to stringent rules and regulations by REACH, the Non-phthalates or bio-based plasticizers market is expected to grow at a faster rate.


Based on application


The various applications of plasticizers can be seen in flooring, ceiling & wall coverings, wire & cable insulation, food and other packaging material, consumer goods, medical & healthcare equipment, toys, and child care products, film and sheets, etc. The film & sheet segment is growing tremendously owing to their increased demand for the production of packaging material. 


Regional Analysis


The Global Plasticizer Market Value is increasing rapidly. It is leaving a huge impression in every part of the world owing to its specialization and advancements. The regions of the operation of its Global market include regions of America, Europe, Asia-pacific, and the rest of the world.


American region, which includes the area of North America (the US and Canada) and Latin America, provides a good market for plasticizers. This is because of huge construction projects across the nation. 


The European region, which includes Germany, UK, France, Russia, and Italy, is also expanding and holds the second-largest market share of the plasticizer market owing to its robust automotive industry. 


The Asia-Pacific region includes countries such as China, Japan, India, Australia, and South Korea, is growing tremendously throughout the forecasted period, and holds the largest market share. The developing countries are providing a promising market for plasticizer market due to rapid industrialization, growth of the automotive industry, and infrastructural developments. Toymaking and packaging industry is another driving force for the plasticizer market in this region.


The rest of the world region, which includes the region of the Middle East and Africa, is growing at a slower but constant rate owing to the low economic development, lower technological and industrial development, lack of awareness, and fewer government initiatives.


These companies form joint ventures or come together in partnerships for certain projects, mergers, and acquisitions to make technological advancements. They strive to develop end-products and services that are unique, cost-effective, and proficient in working, and can deliver accurate solutions to the respective problems.


Recent Developments


November 2021- Evonik is ready to introduce the latest plasticizer products comprised of the raw material INA (Isononanol) in 2022 produced at the company’s largest site in Marl, Germany.
With the expansion of its product portfolio, Evonik focuses on strengthening its position in the global market as a provider of plasticizers that are rapidly used in flexible PVC products such as roofing membranes, flooring, and cables. The company already provides ELATUR DPT and ELATUR CH as part of its plasticizer range.
The company states that it has planned initial planning to present production capacities at the Marl site that can be grown. When the planning is done, the basic engineering part is likely to start to define the basic needs for the latest plants and offer details on manufacturing capacities.

January 2021- Hanwha Solution is set to multiply its production capacity by almost three times to produce phthalate-free plasticizers to fulfill the escalating demand for eco-friendly products. The Chemical Business Division of Hanwha Solutions disclosed the plans to boost the commercial production of an eco-friendly premium plasticizer, Eco-Dehch, by approximately 50,000 tons. It elevated its yearly production capacity from 15,000 tons to 65,000 tons by investing 45 billion won.

In June of the year 2019, Perstorp Holding AB started manufacturing an advanced and renewable polyol ester plasticizer that falls under the category of non-phthalate. It was named Pevalen Pro. This plasticizer produces flexible PVC and is cost-effective, plasticizing-efficient, firm, and soft.

In the year 2017, BASF SE, a Germany-Based company, started the process of manufacturing DOTP. It was being produced under the brand name Palatinol for its Texas branch. This output has enabled the company to meet the growing demand for non-ortho-phthalate plasticizers in North America and other regions globally.


In the year 2016, a company named Eastman introduced a new type of plasticizer. It was named Eastman VersaMax Plus. It helped the company to expand its existing non-phthalate product portfolio. This product entailed better features such as efficacy and cost-effectiveness, faster dry time, and lesser and faster fusion when compared to other plasticizers.


In the year 2013, Evonik, a Germany-Based organization, started the production of phthalate-free plasticizer as well as 2-Cyclohexa di-carboxylic acid ester. It is advertised and sold under the brand ELATUR. The company was able to expand its product line with the introduction of this product.


Report Overview


This report about the global Plasticizer Market Trends includes the following elements:



  • Market Overview

  • COVID19 Analysis

  • Market Dynamics

  • Value Chain Analysis

  • Market Segmentation

  • Regional Analysis

  • Competitive Landscape

  • Recent Developments


This research report provides a comprehensive study about the global Plasticizer Market Outlook. It includes a thorough analysis of its market trends and the areas of new advancements. PVC is used for various purposes, such as for construction, automotive applications, electric appliances and wire insulations, medical and healthcare devices, and others. Due to the stringent rules and regulations regarding the use of phthalates plasticizers, the major manufacturers are launching advanced bio-based plasticizers as they are less hazardous to nature.



Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2019: USD 19.31 Billion
  • 2030: USD 29.77 Billion
  •   CAGR   6.0%(2022–2030)
      Base Year   2021
      Forecast Period   2022-2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Billion)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   By Type, Application and Region
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   BASF SE (Germany),DIC Corporation (Japan),LG Chem (South Korea),Evonik (Germany),Exxon Mobil Corporation (US),Lanxess AG (Germany),Nan Ya Plastics (Taiwan),KAO Corporation (Japan),Polynt SPA (Italy),KLJ Group (India),Polyone Corporation (US), Jiangsu Zhengdan Chemical Industry Co. Ltd. (China), OXEA GmbH (Germany), Vertellus Holdings LLC (US),Dahin Co. (Taiwan)
      Key Market Opportunities   The development of eco-friendly and bio-based plasticizers is providing a crucial opportunity for the growth of its market.
      Key Market Drivers   Plasticizers help in making the polymers soft and flexible which further makes the end-products more durable.


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    Frequently Asked Questions (FAQ) :

    The plasticizer market is projected to grow at a 6% CAGR between 2020–2027.

    The Asia Pacific is expected to dominate the plasticizer market.

    It finds extensive applications in toys, medical and healthcare, consumer goods, packaging, wire and cable, and flooring & wall covering.

    Increasing infrastructure projects and growing demand for passenger cars is boosting market growth.

    Strict regulations may hinder market growth.