Plasticizers Global Market Report 2023
Major players in the plasticizers market are Arkema S.A, BASF SE, Dow Chemical Company, LG Chem Ltd, Evonik Industries Ag, Exxon Mobil Corporation, Eastman Chemical Company, Ineos Group, UPC GROUP, and Bluesail.
New York, Feb. 06, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Plasticizers Global Market Report 2023" - https://www.reportlinker.com/p06281539/?utm_source=GNW
The global plasticizers market will grow from $93.47 billion in 2022 to $100.74 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The plasticizers market is expected to grow from $132.63 billion in 2027 at a CAGR of 7.1%.
The plasticizers market consists of the sales of azelates, citrates, ortho-phthalates, terephthalates, and sebacates.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Plasticizers are chemical additives used to increase the plasticity or fluidity of a material. Plasticizers have dominant uses in rubber, resins, and plastics, especially polyvinyl chloride (PVC).
Asia Pacific was the largest region in the plasticizers market in 2022.North America was the second-largest region in the plasticizers market.
The regions covered in the plasticizers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The product types of plasticizers are phthalate plasticizers, dop, dinp/didp/dphp, other non-phthalate plasticizers, dotp, adipates, trimellitates, epoxies, and benzoates.Phthalates are a group of chemicals that are used to make plastics more durable.
A few of the phthalates are used to help dissolve other materials.Phthalates are in hundreds of products, like vinyl flooring, lubricating oils, and personal-care products like soaps, shampoos, and hair sprays.
The distribution channels are online and offline. The various applications involved are flooring & walls, film & sheet coverings, wires & cables, coated fabrics, consumer goods, and other applications.
Rising demand for flexible polyvinyl chloride (PVC) contributes to the growth of the plasticizer market.Flexible PVC is softer than unplasticized polyvinyl chloride (uPVC) due to the addition of plasticizers.
The increasing demand for flexible PVC material in various end-use industries drives the demand for plasticizers. Flexible packaging provides long-lasting safety, lightweight, and compactness while maintaining a low carbon footprint, which increases demand for PVC from the packaging industry.
The strict regulations on the use of phthalate plasticizers are limiting the growth of the plasticizer market.Phthalate plasticizers are the most commonly used plasticizers due to their easy availability and low cost.
Several companies are moving away from phthalate plasticizers as a number of studies reveal the health effects caused by the use of plasticizers. However, non-governmental organizations such as the U.S. Green Building Council (USGBC) promote the use of non-phthalate plasticizers because of their environmentally friendly nature. The application of certain phthalates in many consumer products is prohibited in various countries. Directives such as the EEC Directive and other regulations in Europe ban the use of phthalate plasticizers in some applications. The European parliament forbids the use of phthalate plasticizers such as DEHP, DBP, and BBP in toys and childcare products. Therefore, strict regulations on using phthalate plasticizers have a negative impact on the plasticizer market’s growth.
Eco-friendly plasticizers are increasingly being used to prevent harmful phthalate plasticizers such as DOP, DBP, BBP, and DEP.Eco-friendly plasticizers have various properties such as waterproofing with good electrical resistivity, weather resistance, better mechanical strength, and good heat stability.
Due to these factors, phthalate plasticizers are being replaced with eco-friendly plasticizers.Eco-friendly plasticizers are polymer additives that improve a material’s plasticity.
The global eco-friendly plasticizer market is growing rapidly due to the increased demand for eco-friendly plasticizers to keep human health and the environment safe. These plasticizers come with low toxicity and good compatibility and are used in various applications, mainly in films and cable manufacturing, and are driving the growth of the plasticizer market.
In September 2021, Cargill Inc., a US-based food corporation, acquired Arkema’S for an undisclosed amount. With this acquisition of Arkema manufacturing capabilities with Cargill’s bio-industrial expertise, the company will further support its plastics, automotive, medical, furniture, flooring, and specialty chemicals customers with a broader portfolio of bio-based solutions for applications such as polymer and lubricant modifiers, coalescing agents for paint, and foam for furniture. Arkema is a French-based specialty chemical and advanced materials company.
The countries covered in the plasticizers market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The plasticizers market research report is one of a series of new reports that provides plasticizers market statistics, including plasticizers industry global market size, regional shares, competitors with a plasticizers market share, detailed plasticizers market segments, market trends and opportunities, and any further data you may need to thrive in the plasticizers industry. This plasticizers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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