Plasticizers Market to Be Worth $26.9 Billion by 2031- Exclusive Report by Meticulous Research®

REDDING, Calif., Nov. 19, 2024 /PRNewswire/ -- According to a new market research report titled, 'Plasticizers Market  Size, Share, Forecast, & Trends Analysis by Type (Phthalate, Non-phthalate, Bio), End-use Industry (Building & Construction {Wires & Cables, Flooring & Wall Coverings, Roofing Membranes}, Automotive, Packaging)—Global Forecast to 2031'

The plasticizers market is expected to reach $26.9 billion by 2031, at a CAGR of 5.4% from 2024 to 2031.

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Plasticizers are low-volatility liquid or solid substances that are added to synthetic resins to increase their flexibility, workability, and distensibility. When plasticizers are added to a polymer, they work themselves into the polymer chains, acting like a buffer between the segments of molecules. Large quantities of plasticizers are used every year to produce plastic compositions, coatings, films, and filaments for applications across several industries, including automotive, medical devices, and consumer goods.

Growth in construction activities and infrastructure projects in emerging countries and the increasing use of plasticizers in automotive and consumer goods production drive the growth of this market. However, the volatility in raw material costs restrains the growth of the plasticizers market.

Additionally, the rising demand for eco-friendly plasticizers and the growing application of plasticizers in packaging materials production are expected to generate growth opportunities for market stakeholders. However, stringent regulatory compliance requirements for plastic products are a major challenge for market players.

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Key Players:

Key players in the plasticizers market are UPC Technology Corporation (Taiwan), Exxon Mobil Corporation (U.S.), BASF SE (Germany), Evonik Industries AG (Germany), Eastman Chemical Company (U.S.), Aekyung Chemical (South Korea), LG Chem, Ltd. (South Korea), DIC Corporation (Japan), Kao Corporation (Japan), Avient Corporation (U.S.), Polynt S.p.A. (Italy), KLJ Group (India), Arkema Group (France), Perstorp AB (Sweden), The Dow Chemical Company (U.S.), and Nan Ya Plastics Corporation (Taiwan).

The plasticizers market is segmented by type (phthalate plasticizers {Diethylhexyl Phthalate [DEHP], Diisononyl Phthalate [DINP], Diisodecyl Phthalate [DIDP], Butyl Benzyl Phthalate [BBP], Dioctyl Phthalate [DOP], and other phthalate plasticizers}, non-phthalate plasticizers {adipates, benzoates, trimellitates, epoxies, phosphate esters, and other non-phthalate plasticizers}, and bio-based plasticizers {citrate esters, Epoxidized Soybean Oil [ESBO], glycerol esters, and other bio-based plasticizers}) and end-use industry (building & construction {wires & cables, flooring & wall coverings, roofing membranes, and other building & construction applications}, automotive {interior & exterior parts, automotive sealers & adhesives, wire & cable insulation, and other automotive applications}, consumer goods {footwear, sports & leisure products, toys & childcare products, and other consumer goods applications}, packaging {flexible packaging, rigid packaging, and other packaging applications}, medical devices {tubes & bags, IV containers, and other medical device applications}, textiles {coated fabrics, synthetic leather, and other textile applications}, and other end-use industries). This study also provides a comprehensive analysis of the plasticizers market in North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa.

Plasticizers Industry Overview: Latest Developments from Key Industry Players (Get Free Sample Pages of this Report)

• In August 2024, Eastman Chemical Company (U.S.) announced the launch of Benzoflex™ 172, a new plasticizer that can help manufacturers more efficiently reduce viscosity in their Polyvinyl Chloride (PVC) formulations.
• In August 2024, BASF SE (Germany) signed a memorandum of understanding with UPC Technology Corporation (Taiwan) to strengthen strategic cooperation on plasticizer alcohols and catalysts for Phthalic Anhydride (PA) and Maleic Anhydride (MA), along with the development of sustainable solutions to reduce carbon emissions from operations and products.
• In June 2023, KLJ Group (India) announced investing approximately $145.0 million in commissioning a new facility for plasticizer and phthalic anhydride production at the GIDC Jhagadia Industrial Estate, Bharuch, Gujarat. The facility can produce 300,000 MT of phthalate plasticizers, 100,000 MT of phthalic anhydride, 3,500 MT of maleic anhydride, and 700 MT of benzoic acid annually.

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Key Findings in the Microalgae Market Study:

By type, the bio-based plasticizers segment is slated to register the highest CAGR during the forecast period. Increasing regulatory pressure and environmental awareness, the growing consumer preference for eco-friendly products, the increasing use of bio-based plasticizers in food & beverage packaging materials, medical tubing, and other devices, and the growing demand for bio-based plasticizers, particularly Epoxidized Soybean Oil (ESBO) and citrate esters due to the increasing demand for sustainable and environmentally friendly products contribute to the high growth of this segment.

By end-use industry, the medical devices segment is slated to record the highest growth rate during the analysis period. The increasing demand for plasticizers due to advances in the healthcare sector, the increasing need for medical devices, the shift toward non-toxic, biocompatible materials, and the growing use of plasticizers in the production of various medical devices and other products contribute to the segment's high growth.

By Geography, Asia-Pacific is poised to register the highest CAGR of over 6.5% during the forecast period. Growing consumer preference for products offering enhanced durability, flexibility, and safety and increasing government regulations and standards related to product safety and environmental protection driving the use of advanced plasticizers, including non-phthalate and bio-based types, contribute to the high growth of this regional market.

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Scope of the Report:

Plasticizers Market Assessment—by Type

• Phthalate Plasticizers
• Diethylhexyl Phthalate (DEHP)
• Diisononyl Phthalate (DINP)
• Diisodecyl Phthalate (DIDP)
• Butyl Benzyl Phthalate (BBP)
• Dioctyl Phthalate (DOP)
• Other Phthalate Plasticizers
• Non-phthalate Plasticizers
• Adipates
• Trimellitates
• Benzoates
• Epoxies
• Phosphate Esters
• Other Non-phthalate Plasticizers
• Bio-based Plasticizers
• Citrate Esters
• Epoxidized Soybean Oil (ESBO)
• Glycerol Esters
• Other Bio-based Plasticizers

Plasticizers Market Assessment—by End-use Industry

• Building & Construction
• Wires & Cables
• Flooring & Wall Coverings
• Roofing Membranes
• Other Building & Construction Applications
• Automotive
• Interior & Exterior Parts
• Automotive Sealers & Adhesives
• Wire & Cable Insulation
• Other Automotive Applications
• Consumer Goods
• Footwear
• Sports & Leisure Products
• Toys & Childcare Products
• Other Consumer Goods Applications
• Packaging
• Flexible Packaging
• Rigid Packaging
• Other Packaging Applications
• Medical Devices
• Tubes & Bags
• IV Containers
• Other Medical Device Applications
• Textiles
• Coated Fabrics
• Synthetic Leather
• Other Textile Applications
• Other End-use Industries

Plasticizers Market Assessment—by Geography

• North America
• S.
• Canada
• Europe
• Germany
• K.
• France
• Italy
• Spain
• Russia
• Netherlands
• Rest of Europe
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Thailand
• Singapore
• Rest of Asia-Pacific
• Latin America
• Mexico
• Brazil
• Argentina
• Rest of Latin America
• Middle East & Africa
• South Africa
• UAE
• Saudi Arabia
• Rest of Middle East & Africa

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Plasticizers Market Research Summary

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