Plasticizers Market Scope
Plasticizers refer to a substance added to a synthetic resin to produce or promote plasticity and flexibility and to reduce brittleness. It increases the plasticity or decreases the viscosity of a material. Growing demand for PVC products and expanding the automotive industry will increase the demand of the plasticizer market in the forecasted years. The growth in the PVC market will augment the product's market due to its extensive use in PVC manufacturing.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Largest Market | Asia Pacific |
Unit | Value (USD Billion) |
Key Companies Profiled | UPC Technology Corporation (Taiwan), Exxon Mobil Corporation (United States), Cargill (United States), Aekyung Petrochemical Co., Ltd (South Korea), BASF SE (Germany), Nan Ya Plastics Corporation (Taiwan), Bluesail (India), Evonik (Germany), Eastman Chemical Company (United States) and LG Chem 9South Korea) |
CAGR | 5.2% |
"According to AMA, the Global Plasticizers market is expected to see growth rate of 5.2% and may see market size of USD16.7 Billion by 2027."The demand for Plasticizers is increasing with each passing day. The businesses in this industry facing major competition with leading players of the market that includes UPC Technology Corporation, Exxon Mobil Corporation, BASF SE and others. Many international as well as regional providers are also participants in the industry and directly compete with leaders. It has been identified that market leading players are investing heavily in growth strategies such as technological development, resource utilization to enhance their market position. The market leaders demonstrate a market-defining vision of how plasticizers drug can help top-line business executives achieve their business objectives. Leaders have the ability to execute against that vision through both products and services. They have demonstrated solid business results in the form of revenue and earnings. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Plasticizers market throughout the predicted period.
UPC Technology Corporation (Taiwan), Exxon Mobil Corporation (United States), Cargill (United States), Aekyung Petrochemical Co., Ltd (South Korea), BASF SE (Germany), Nan Ya Plastics Corporation (Taiwan), Bluesail (India), Evonik (Germany), Eastman Chemical Company (United States) and LG Chem 9South Korea) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Perstorp (Sweden), Sinopec Jinling (China), DEZA, a. s. (Czech Republic) and Hongxin Chemical (China).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Plasticizers market by Type , by Application (Flooring & Wall Coverings, Coated Fabric, Wire & Cable, Film & Sheet and Consumer Goods) and Region with country level break-up.
On the basis of geography, the market of Plasticizers has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2021.
Market Leaders and their expansionary development strategies
In September 2021 Cargill had announced the acquisition of Arkema. The acquisition will give Cargill complete manufacturing capabilities for bio-based plasticizers and polyols, enabling the business to offer its industrial clients natural substitutes for conventional petroleum-based additives and better serve them. The company anticipates providing a wider range of bio-based solutions for applications like polymer and lubricant modifiers, coalescing agents for paint, and foam for furniture to its customers in the plastics, automotive, medical, furniture, flooring, and specialty chemicals markets by combining the manufacturing capabilities of Arkema and Cargill.
In January 2022 Evonik Inc. had announced the launch of ELATUR DINCD. Evonik has introduced a new generation of innovative plasticizers. The new cyclohexanoate exhibits a number of highly desirable properties, including excellent low-temperature flexibility and high UV resistance. This portfolio expansion is part of Evonik's long-term strategy to diversify its plasticizer portfolio based on specific customer needs. The new product will be produced at the Group's largest plant in Marl.
Influencing Trend:
Increase in adoption of non-phthalate & high molecular weight phthalate plasticizers
Market Growth Drivers:
Rising Demand for Flexible Pvc and Demand From Construction Industry is Propelling the Plasticizers Market
Challenges:
Intense Competition From Large-Scale Players
Restraints:
Stringent Government Rules and Regulations on the Use of Phthalates Plasticizers and Migration Effect of Plasticizers on Non-Pvc Components
Opportunities:
Emerging Demand for Eco-Friendly Plasticizers
Key Target Audience
Manufacturers of Plasticizers, Chemical Suppliers, Traders, Distributors, and Suppliers of Plasticizers, Raw Material Suppliers, Government and Research Organizations and Industry Associations