Plasticizers Market Analysis Report on Latest trends, Growth Factors, Key Players and more

Plasticizer Market

A plasticizer is a chemical substance that is being added to another material such as plastic, to make it resistant, flexible, and easy to handle. More than 300 types of plasticizers are available across the market, among which only 50-100 are currently being used commercially. The most common type of plasticizers that are being used are phthalates and adipates.

Plasticizers are primarily being added to the polymer matrix to increase its flexibility and improve the chemical properties of the final product. Moreover, the addition of a plasticizer in materials can lower the glass transition temperature, melt viscosity, and elastic modulus of the polymer. They primarily act as additives that increase the plasticity or fluidity of a material. They can further enhance the properties of materials such as concrete, clays, and other related products.

The plasticizer market is expected to reach US$ 1021.2 million by 2023, growing with a significant CAGR during the forecast period. The market is growing due to the high demand for plasticizers in various applications such as consumer goods, flooring & wall coverings, coated fabrics, wire & cable, and film & sheet. In addition to these, rapid urbanization and increasing construction projects across the globe where the product is used as an additive for concrete and other polymers and also in the production of wires and cables, will further accelerate the growth of the market.

This plasticizer market report covers an in-depth analysis of the market including statistical and subjective data points, along with the key market drivers and opportunities & restraints that have positive or negative effects on the overall global market. An exclusive coverage has been provided for market drivers and challenges & opportunities for a country-level market in the respective regional segments. The report comprises a competitive analysis of the key players functioning in the market and covers in-depth data related to the competitive landscape of the market and the recent strategies & products that will assist or affect the market in the near future.

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The global plasticizer market is segmented on the basis of type, application, and geography. Based on types, the market is categorized into phthalates, terephthalates, trimellitates, epoxides, phosphates, sebacates, extenders, aliphatic dibasic esters, and others. Based on applications, the plasticizer market has been segregated into flooring & wall, film & sheet coverings, wires & cables, coated fabrics, consumer goods, and others (medical, sports, & adhesive & sealants applications).

The flooring & wall segment is dominating the plasticizers market during the forecast period

The flooring & wall covering segment is dominating the global plasticizers market in the year 2018 due to an increase in construction across the globe, along with increased need for renovation and maintenance of existing buildings, which are fostering the market growth. Plasticizers are being used extensively for coverings due to their viscosity reducing property, and fast fusers.

Moreover, their use will increase due to increasing consumer preference for new designs in coverings and floor walls in their buildings. As the economic conditions of people are improving, the application of plasticizers in production of wires & cables and consumer goods is also expected to increase in the coming years.

Asia Pacific is expected to grow at the highest CAGR during the forecast period
Asia Pacific is the fastest-growing region in the plasticizers market owing to an increasing demand for flexible PVC in the region. Rising construction activities and the growing demand for automotive are expected to fuel the market growth for plasticizers. China was the largest market for plasticizers in the Asia-Pacific in 2016.

Further, increasing construction activities in developing countries such as China and India are projected to enhance the demand for PVC cladding and roofing. Plasticizers are widely used to manufacture flexible PVC roofing membranes. Thus, these factors are likely to boost the plasticizers market in this region.

The key players operating in the global plasticizer market includes

Orica Ltd.
Adeka Corporation
Clariant International Ltd.
Grupa Azoty S.A.
Aekyung Petrochemical Co. Ltd.
Sasol Ltd.
Blue Sail Chemical Group
Nan Ya Plastics Corporation
Teknor Apex
Amines & Plasticizers Ltd.
others

The global plasticizer market is a competitive market due to the presence of various international, regional, and local vendors.

The demand for plasticizer is expected to increase over the coming years due to rising investments in R&D by key players such as Clariant International Ltd., Grupa Azoty S.A., and others. To expand the market, majority of vendors are adopting new technologies and product launches to gain competitive advantage in the global market. The plasticizer market is largely driven by new product launches and acquisitions.

The competition in the global plasticizer market is intense as various international and regional vendors are providing the new technology to various end-use industries for the expansion of the market. Plasticizer vendors are emphasizing on investing in R&D facilities to increase technology development.

The key players and emerging vendors have improved manufacturing techniques and enhanced their products to have a competitive edge over others. Furthermore, companies are involved in acquisitions and expansion to improve their product offerings and increase the production process.

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