Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Plasticizers Market size was over USD 18.6 billion in 2024 and is anticipated to cross USD 31.75 billion by 2037, growing at more than 4.2% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of plasticizers is assessed at USD 19.26 billion.
The 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 there of.
Plasticizers Sector: Growth Drivers and Challenges
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 market. Additionally, the global eco-friendly plasticizers market is anticipated to achieve a CAGR of 13.5% over the forecast period 2018-2027.
Challenges
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 market.
Plasticizers Market: Key Insights
| Report Attribute | Details |
|---|---|
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
4.2% |
|
Base Year Market Size (2024) |
USD 18.6 billion |
|
Forecast Year Market Size (2037) |
USD 31.75 billion |
|
Regional Scope |
|
Plasticizers Segmentation
The plasticizers 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.
Our in-depth analysis of the global market includes the following segments:
By Type |
|
|
By Application |
|
Vishnu Nair
Head - Global Business DevelopmentCustomize this report to your requirements — connect with our consultant for personalized insights and options.
Plasticizers Industry - Regional Synopsis
- Exxon Mobil Corporation
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Eastman Chemical Company
- Arkema S.A.
- BASF SE
- The Dow Chemical Company
- Daelim Industrial Co. Ltd.
- LG Chem Ltd.
- Evonik Industries AG
- INEOS Capital Limited
- UPC Group
Recent Developments
- 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.
- Report ID: 2627
- Published Date: Dec 23, 2024
- Report Format: PDF, PPT
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