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CHEMICALS AND ADVANCED MATERIALS

Plasticizers Market Segmentation By Type [Phthalates (DiDP, DiNP, DOP, DPHP and Others), Trimellitates, Terephthalates, Epoxides, Phosphates, Extenders, Sebacates, Aliphatic Dibasic Esters and Others] and By Application (Film & Sheet Coverings, Flooring & Wall, Wires & Cables, Coated Fabrics, Consumer Goods and Others) – Global Demand Analysis & Opportunity Outlook 2028

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Extensive insights into the Growth of Plasticizers Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS
  • April 2020: Exxon Mobil Corporation announced that it has increased the production of the raw materials that are required for the manufacturing of masks, gowns and hand sanitizers, used widely by medical professionals to fight against COVID-19 pandemic.
  • November 2018: Eastman Chemical Company announced that it has completed the construction of a new manufacturing facility that would manufacture isobutyric acid, used widely in the manufacturing process of plasticizers.

Introduction to Plasticizers

Plasticizers are referred to the chemical substance that are added to a polymer, such as plastics and rubber, for making the material softer and flexible. Plasticizers are also used widely to decrease viscosity of the material and increase its plasticity depending upon the end product’s application. They are also widely used to decrease friction during its handling in the process of its manufacturing. They are usually colourless and odourless liquids.

Market Size and Forecast

The global plasticizers market is thriving on the back of growing application of different type of plastics in different end use products across different industry verticals. Plastics are used widely in today’s era. It is found in almost any type of consumer products, ranging from toys to vehicles and several others. The market is also thriving on the back of the growing trade of plastics and the articles thereof. According to the statistics by the International Trade Centre (ITC), exports of plastics and articles thereof increased from USD 483270860 thousand in the year 2010 to USD 657646607 thousand in the year 2018. CLICK TO DOWNLOAD SAMPLE REPORT

Plasticizers-Market

The global plasticizers market is anticipated to achieve a CAGR of around 4% during the forecast period, i.e. 2021-2028. The market is segmented by application into film & sheet coverings, flooring & wall, wires & cables, coated fabrics, consumer goods and others. The consumer goods segment is anticipated to hold the largest market share on the back of the increasing population worldwide, which is raising the need for the consumption of consumer goods. Moreover, increasing disposable income of individuals worldwide, which raises the purchasing capacity of individuals, thereby influencing the greater consumption of consumer goods, are some of the factors anticipated to drive the growth of the consumer goods segment during the forecast period.

Global-Plasticizers-Market

Growth Drivers

Growing Demand for Flexible PVC in End User Industries

Plastics are used in different formats across several end user industries for the manufacturing of different types of goods. Based on the applicability and the utilization of the product, the rigidity of the plastic is decided for manufacturing the product. Several products require greater flexibility and elasticity to give different shapes. Plasticizers are used to enhance the physical properties of the PVC plastic, which are known as flexible PVC. The plasticizers soften the rigid PVC plastic, thereby providing a whole new dimension of market opportunities for flexible PVC, which is anticipated to drive the growth of the market over the forecast period. Flexible PVC are used majorly in the manufacturing of PVC pipes, adhesive films, extruded wires, flooring, napkins, and several others.

Growing Demand for Eco-Friendly Plasticizers

Eco-friendly plasticizers are the new trend which are known to have low toxicity levels and provide a great alternative over conventional plastic forms. Eco-friendly plasticizers do not affect the environment, which is why they find wide application across different end user industries. Moreover, backed by the growing concern for the environment and the increasing awareness for recycling of plastics, are some of the factors that are demanding for eco-friendly solutions, such as eco-friendly plasticizers, which is anticipated to drive the growth of the global plasticizers market. Additionally, the global eco-friendly plasticizers market is anticipated to achieve a CAGR of 13.5% over the forecast period 2018-2027.

Restraints

Stringent Government Norms For the Use of Plasticizers

Plasticizers are of various types, out of which, the phthalate plasticizer type is known to possess severe effect on health and the environment. As such, several governmental organization and environmental bodies are setting up restrictions in the use of phthalate plasticizers and are promoting the use of non-phthalate plasticizers, which is anticipated to hamper the growth of the global plasticizers market.

Market Segmentation

Our in-depth analysis of the global plasticizers market includes the following segments:

By Type

  • Phthalates
    • Diisononyl Phthalate (DiDP)
    • Diisodecyl Phthalate (DiNP)
    • Dioctyl Phthalate (DOP)
    • Di-(2-Propyl Heptyl) Phthalate (DPHP)
    • Others
  • Trimellitates
  • Terephthalates
  • Epoxides
  • Phosphaes
  • Extenders
  • Sebacates
  • Aliphatic Dibasic Esters
  • Others

By Application

  • Film & Sheet Coverings
  • Flooring & Wall
  • Wires & Cables
  • Coated Fabrics
  • Consumer Goods
  • Others

By Region

On the basis of regional analysis, the global plasticizers market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.

The market in Asia Pacific is anticipated to grow with the highest CAGR owing to the presence of several manufacturing industries that uses plastics in nations such as China and India. Additionally, the market in North America and Europe is anticipated to grow at a moderate pace, backed by the growing construction and automotive industries in the regions.

The global plasticizers market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • The Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

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