According to the latest report published by Acute Market Reports “Plasticizer market” - Growth, Future Prospects and Competitive Analysis, 2020-2030,” the Plasticizer market is expected to expand at a CAGR of 6% during the forecast period of 2023 to 2030.

A plasticizer is a substance, which added to a material usually a plastic, resin or elastomer, to improve its processability and flexibility. Plasticizers are a versatile product providing unique contributions in widely varying applications. One of the main benefits of plasticizers is the durability they confer onto PVC applications, which can ensure high performances for up to 50 years. Without plasticizers, PVC can only be rigid, such as the PVC used in wastewater pipes. Over 30,000 substances have been tested for use as a polymer plasticizer, though today, only about 50 are available for use. Plasticizers are most often used in PVC, the third largest polymer by volume after PP and PE. In turn, PVC is used in a wide range of products. The plasticizers have key application in toys, medical and healthcare, consumer goods, packaging, wire and cable, and flooring and wall covering. Some plasticizers can also be used in rubber products, paints, printing inks, adhesives, and sealants for professional use.

There are basically two types of plasticizers viz., phthalates and non- phthalates. In 2020, phthalates were widely used plasticizer owing to its high usage in various end user applications such as flooring & wall, film & sheet coverings, wires & cables, coated fabrics, consumer goods and others (medical, sports, & adhesive & sealants applications). In 2020, the wires and cables segment had a substantial share in global plasticizers market and will continue to dominate the market in the coming years. Market size and forecast of each product type and application is presented for the period 2020 to 2030 along with respective CAGR % for the forecast period 2023-2030.

Phthalates plasticizers are the most widely used type of plasticizers. However, the manufacturers are moving away from production of Phthalates plasticizers as they cause health hazards. Eco friendly counsels and NGOs are largely promoting the use of non - Phthalates plasticizers. Use of Phthalates plasticizers n certain applications such as child care items are banned in certain European countries. Regulations remain as the key market restraint. This has propelled the demand for eco-friendly and safe alternatives through bio-based plasticizers and renewable feedstock. The bio based plasticizers market promises significant opportunities in the long term period.

The plasticizer industry is dominated by Asia, as raw materials are easily available. The demand for films and sheet is rising, this results growth in the plasticizer market. APAC is followed by North America and Europe. Asia Pacific is expected to achieve highest growth rate compared to other regions due to presence of countries such as China, India and Japan are observing significant industrial and construction growth.

Browse full report at: https://www.acutemarketreports.com/report/plasticizer-market

Key player in this market include UPC Technology Corporation, Exxon Mobil Corporation, Aekyung Petrochemical Co, BASF SE, Daelim Industrial Co. Ltd, Dow Chemical Company, LG Chem Ltd, Evonik Industries AG, Eastman Chemical Company, Ineos Group. Furthermore, the companies are focusing on expanding their business network, across regional markets. They are strengthening their market penetration by offering wide product range in the plasticizers segment. 

Key Market Movements:

• Plasticizer market is expected to grow at a CAGR 6% during the forecast period of 2023 - 2030.
• Eco-friendly plasticizers are in significant demand and promise huge potential.
• Phthalates plasticizers are used on large scale across various sectors.
• The pandemic has negative effect on manufacturing of plasticizers.
• Asia Pacific dominates the market.
• Key player in this market include UPC Technology Corporation, Exxon Mobil Corporation, Aekyung Petrochemical Co, BASF SE, Daelim Industrial Co. Ltd, Dow Chemical Company, LG Chem Ltd, Evonik Industries AG, Eastman Chemical Company, Ineos Group.
• Companies are focusing on expanding their business network, across regional markets. They are strengthening their market penetration by offering wide product range in the plasticizers segment.

Plasticizer market is segmented into:

*Detailed segments are available on the report page