According to a market report, published by Sheer Analytics and Insights, the total global plasticizers market was valued at $14.9 billion in 2021 and it is expected to reach $26.1 billion at a CAGR of 5.1% between 2022 and 2032. Plasticizers are usually polymer additives. These are mainly used to improve the softness, volatility, and flexibility of some materials which is plasticized. Additionally, the demand for plasticizers is increasing for multiple applications such as consumer goods, construction, wires, cable insulation, and coated fabrics among others. Hence, this rising demand is anticipated to drive the growth of the market globally. Besides this, a plasticizer is also widely used in concrete and cement formulations, which is expected to accelerate the market in the future. The primary usage of plasticizers is to make polymers soft and flexible, and that is utilized in various end-user industries including technical and commercial applications such as automobile interiors, drainage pipes, PVC films, paint, footwear, water pipelines, and more. Plasticizers make products more durable and strong. Furthermore, these might be used to strengthen the quality of construction materials including clay, and others.
At present days, governments from several emerging nations are spreading awareness about global warming and pollution-free campaigns. By doing this, they are supporting many key players from their nations to make eco-friendly and bio-based plasticizers. This would provide an essential growth opportunity for the market across those nations. Hence, these key players would also supply innovative production of new plasticizers to other developing countries for business purposes. This would drive the growth of the plasticizers market. Moreover, some key players are also focusing on producing plasticizers from vegetable waste and other natural raw materials.
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Most of the key players and organizations use phthalates plasticizers as these are less dangerous to the environment and very inexpensive on the market. So many key players from different regions are transferring themselves from phthalate plasticizers due to several studies exposing their negative effects on human health. This issue is expected to hamper the growth of the market over the upcoming years. Moreover, in several countries, governments are imposing some rules and regulations for manufacturing companies that are prohibiting the use of phthalates plasticizers in particular applications. This is anticipated to hamper market growth.
However, a couple of years ago, the epidemic of COVID-19 negatively impacted most of the end-user industries across the globe. Due to complete lockdowns, many domestic and international companies and organizations had to shut down their supplies. In addition, this situation has also negatively impacted the growth of the plasticizers market over the last two years. At present days, after the COVID-19 pandemic, the market is again gradually growing with the normal supply chain.
As mentioned that plasticizers are widely used to soften the PVC and make it flexible as well as bendable. This has opened up a wide range of possibilities for new applications in many industries across the globe. One of the primary benefits of plasticizers is their roughness and durability. Due to these benefits, plasticizers could ensure a high level of performance for up to 60 years.
Some new developments in the plasticizers market:
- In 2021, BASF has launched biomass balanced plasticizers based on renewable raw materials. In addition, BASF has also launched its trusted non-phthalate based on chemically recycled feedstock.
- In 2021, Eastman introduced new sustainable plasticizers which are drop-in replacement for existing products, offering the identical performance of this company’s legacy products.
- In 2022, Evonik has launched a new plasticizer for durable products. This latest generation plasticizer named ELATUR DINCD is easy to process due to its low viscosity and is suitable for demanding exterior as well as interior applications including textiles fabrics, floor coverings, and more.
According to the study, key players dominating the global plasticizers market are Avient Corporation (U.S), Arkema (France), BASF SE (Germany), DL Holdings (South Korea), Dow Inc (U.S), Emerald Performance Materials (U.S), Eastman Chemical Company (U.S), ExxonMobil (U.S), INEOS Limited (U.K), LG Corp (South Korea), Nan Ya Plastics (Taiwan), OQ (Oman), Roquette Frères (France), RAG-Stiftung (Germany), Solvay S.A (Belgium), UPC Technology Corp. (Taiwan), Valtris Specialty Chemicals Inc (U.S), among others.
The Global Plasticizers Market Has Been Segmented Into:
The Global Plasticizers Market – by Product Type:
- Phthalates
- Terephthalates
- Epoxides
- Phosphates
- Extenders
- Trimellitates
- Others
The Global Plasticizers Market – by Application Type:
- Film and Sheet Coverings
- Wires and Cables
- Coated Fabrics
- Consumer Goods
- Flooring and Wall
- Others
The Global Plasticizers Market – by Regions:
North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- France
- Italy
- U.K.
- Russia
- Rest of Europe Countries
Asia-Pacific
- India
- China
- Japan
- South Korea
- North Korea
- Rest of Asian Countries
LAMEA
- Brazil
- Saudi Arabia
- Rest of LAMEA
Browse The Full Report at https://www.sheeranalyticsandinsights.com/market-report-research/plasticizers-market-21
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