According to ChemAnalyst report, “Global Plasticizers Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, Global Plasticizers market demand stood at 8.23 Million Tonnes in 2020 and is forecast to reach 12.91 Million Tonnes by 2030, growing at a healthy CAGR of 4.71% until 2030. Growing demand of plasticizers due to its versatile properties as an additive in different polymers especially in PVC by agriculture and construction sector is likely to bolster the global plasticizers market in upcoming years. Plasticizers are highly operative in various sectors including automotive, electronic, coatings, floorings and others.
Plasticizers are liquid or solid substances that are colorles, odorless and non-volatile in nature. They are usually added in different polymers in order to increase their stretchability, flexibility, processability and durability. On adding, they tend to minimize the Glass Transition Temperature (Tg) and viscosity of polymers to make it suitable for the film coating. They are among the widely researched chemical. Plasticizers when combined with plastic, strengthen the thermoplasticity and boosts the fabrication quality. Plasticizers act as a lubricant between segments of polymer chain thus provide greater mobility. Polymers would become extremely bis highly dependent on the end use industries for manufacturing films & sheet material as it exhibits good compatibility and barrier characteristics such as weather resistance and good heat stability. Plasticizers are generally produced by the reaction of alcohol with different acids such as phthalic anhydride and olefins. The plasticizers Industry is currently fascinated by bio-based and renewable plasticizers that can be a safe alternative for the environmental footprint. uprise in the demand of Polyvinyl Chloride (PVC) by major end-user industries like construction, automotive and electronics is expected to boost the Plasticizers market worldwide.
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Depending upon the chemical composition and properties, Plasticizers can be classified as Phthalate Esters, Aliphatic dibasic acid Esters, Benzoate Esters, Trimellitate Esters, Polyester, epoxy esters, alkyl sulfonic acid phenyl ester, chlorinated plasticizers, polyol esters, Bio Plasticizers and others. Due to its properties such as high resilience, stability, and improved efficiency, phthalates are the most used compound in Plastic Industry. Out of all the applications, plasticizers are extensively utilized in the manufacturing of PVC which is among the highly used polymers in the world. PVC is widely used in Industrial, technical and commercial applications such as water pipelines, drainage pipes, PVC films, flooring and wall coverings, paint, footwear, automobile interior and others. The demand of PVC is largely driven by the construction, infrastructure and automotive sector.
According to National Toxicology Programme (NTP), Plasticizers are considered as a potent carcinogen. The International Agency for Research on Cancer (IARC) reported that a type of phthalate and diethylhexyl phthalate (DEHP) is classified as a potential cause for cancer as an additive in plastics. Exposure through different routes can induce tumour and cause adverse health effects as it can be a serious environmental pollutant. Ban on the use of phthalate plasticizers in the use of toys have been implemented in 2020.
Due to the consequence of Global crises, there was nationwide lockdowns around the world which impacted several industries and their economy in terms of sales and distribution. Low demand due to global crises hindered the usage of PVC in in construction and infrastructure sector. However, the continuous growing demand of bio plasticizers by many industries will propel the global plasticizers market.
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Region wise, Asia Pacific region holds the largest share of the global Plasticizers market due to advancements in construction and automotive sector. Increasing demand of green fuels is also a factor driving demand growth in Europe during the forecast period. North America is also a big contributor of bio-based plasticizers.
Major Players:
- Dow Chemical Company,
- Arkema S.A.,
- BASF SE,
- Evonik Industries Ag,
- LG CHEM LTD.,
- Exxon Mobil Corporation,
- Eastman Chemical Company,
- Ineos Group,
- UPC GROUP ,
- Shandong Hongxin Chemicals,
- Bluesail
- Others.
“Being linked to the downstream application such as PVC, automotive and coatings etc, the Global Plasticizers Industry has shown a tremendous growth along with the growing population and changing in the preference of consumer. It is projected that India is likely to become the world's fifth largest consumer market by 2025. In addition, growing per capita income worldwide poised a stronger outlook to the country’s acetone demand. The nationwide lockdowns around the world affected the supply chain logistics and happens to cause immediate shortage of raw materials hence increased the prices of Plasticizers. Meanwhile, China serves as the major holder as well with sufficiently installed capacities. With new competitors emerging across the Plasticizers market, it is extremely important to keep an eye on which region will grab the biggest market shareduring the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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