Plasticizers Market - Global Industry Analysis

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Plasticizers are used as additives to decrease the viscosity or increase the plasticity of materials and make materials softer. These are either liquids with low volatility or solids. Plasticizers are colorless nonvolatile liquids that are classified according to their function or structure. Plasticizers are widely used to transform PVC polymer into flexible, soft, and elastic materials.

Plasticizers market is estimated to grow considerably, due to the increased demand for PVC and other polymers in several applications. There has been a rise in the overall plasticizers demand, owing to the increase in the application of polymeric material in the automotive, construction, and consumer goods industries. Additionally, the demand for phthalate plasticizers in packaging is increasing significantly due to the material’s easy availability and cost-effectiveness. Considering all these factors, it is expected that the demand for plasticizers is likely to increase and have a positive impact on the overall market growth. Furthermore, rising construction activities globally and rapid industrialization in emerging countries, such as India, China, and Brazil, is further propelling the demand for plasticizers. These are widely used in the automotive industry for manufacturing protective underbody coatings and designing. Plasticizers are widely used in the production of PVC for floor and roofing covering purposes. But, environmental regulations for plasticizers and PVC toxicity might hinder this market’s growth in the near future. However, technological advancements for bio-plasticizers are expected to create numerous growth opportunities for the plasticizers market in the future.

The plasticizers market is divided based on type and application. By type, the market for plasticizers includes phthalates, terephthalates, aliphatics, trimellitates, polymerics, epoxy, phosphates, and others. The phthalates segment dominated the market and is expected to maintain its dominance in the upcoming years, due to its cost-effectiveness and easy availability, among other versatile properties. Moreover, epoxy and polymerics plasticizers are expected to grow at a fast rate, due to increased product demand for construction and automotive applications. By application, the plasticizers market is segmented into automotive, cables and wires, flooring and roofing covering, coated fabric, consumer goods, packaging, and others. Increasing usage of plasticizers, especially in the automotive and cables and wires industries, is further estimated to drive this market’s growth significantly in the forecast time period.

The regional analysis of plasticizers market includes North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2017, Asia Pacific dominated this market, due to the growing construction and automotive industries. Additionally, increasing demand for plasticizers for wire and cable sector is estimated to fuel the Asia Pacific plasticizers market during the forecast time period.

Some key players operating in the global plasticizers market include BASF, Dow Chemicals, ExxonMobil, Evonik Industries, Arkema, Eastman Chemicals, Clariant International, Adeka, UPC Group, Blue Sail Chemical Group, and Aekyung Petrochemical, among others.