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

ID: MRFR/CnM/1688-HCR | February 2023 | Region: Global | 140 Pages         

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Plasticizer Market

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.

Segmentation
By Type Phthalate Plasticizer Non-Phthalate Plasticizer
By Application Flooring & Wall Covering Wire & Cable Packaging Consumer Goods Medical & Healthcare Toys Others
Key Players
Companies Profiled   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)
Drivers
Market Driving Forces    Plasticizers help in making the polymers soft and flexible which further makes the end-products more durable
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Plasticizer Market Overview


The plasticizer market is expected to gain a market value of USD 29.77 billion by 2030 at a CAGR of 6.0 % from 2022-2030.


Plasticizer are low-volatility liquid or solid substances that decrease the viscosity of a material. Adding infusion agents to plastic is a process to improve a polymer's physical properties such as flexibility, processability, and extensibility, and about 80-90% of the total plasticizer is consumed by the Polyvinyl chloride (PVC) industry.


The increase in construction activities and rising demand for PVC and other polymers in various applications are all fuelling the market's growth. Furthermore, the need for plasticizers in the flexible PVC (polyvinyl chloride) industry is increasing due to new products that use these types of plastics. The packaging is lightweight and compact, provides safety and long-lasting durability, and has a low carbon footprint. These are the factors driving the demand for PVC from the packing industry.


The strict regulations on using phthalates limit plasticizers' market growth. Phthalates are the most commonly used plasticizers due to their easy availability and low cost. Several companies are moving away from phthalate plasticizers as recent studies reveal the health effects caused due to the use of plasticizers. However, NGOs such as the US Green Building Council (USGBC) promote non-phthalate plasticizers because of their green, eco-friendly nature. Applications of certain phthalates in consumer products are banned in many countries. As well as other regulations, directives such as the EEC directive and Europe banned the use of phthalates plasticizers in some applications. The European Parliament has forbidden using phthalate plasticizers such as DEHP, DBP, and BBP in toys and childcare products. This harms the market for plasticizers.


The demand for plasticizers in India will remain steady and increase because of its growing consumption in packaging, flooring, and coatings.


COVID-19 Analysis


The COVID-19 pandemic has impacted all industries except for the pharma sector. This has led to many negative consequences and was a major source of concern. There had been a complete lockdown in almost every part of the world. People were forced to stay in their homes. Every nation has sealed its borders. International travel was banned. The businesses were also shut down, which has affected the plasticizer market growth.


Now that the COVID-19 situation is almost over, it is expected that the use of PVC in construction will increase substantially. PVC is typically used as a building material and prevents water penetration more efficiently than other materials, such as plastics. PVC and plasticizers are an essential part of the construction industry. PVC is used for flooring, wall coverings, false ceilings, and other such purposes in many industries and flourishing market growth.


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



  • In August 2022, DIC Corporation announced that its now 100% biomass-based polyester plasticizer, GLOBINEXⓇW-1810-BIO, was accredited as a certified biobased product by the United States Department of Agriculture.

  • In January 2022, LG Chem, a South Korean-based company, built a new hydrothermal plastic recycling plant to produce oil from plastic waste using high-temperature steam.

  • In September 2021, Herbert Morgenstern announced the BASF plasticizers portfolio based on alternative raw materials: the Biomass Balanced and CcycledTM It aims to reduce CO2 emissions.


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.