How is Growing Demand for Polyvinyl Chloride (PVC) Propelling Plasticizers Market?

Polyinyl chloride (PVC) is one of the most common plastics in the world, finding wide usage in water and sewage pipes, electricity cables, medical tubing, and a lot many objects. The material is fairly durable, corrosion-resistant, and cost-effective, which is why it is widely consumed in various applications.

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Now, here is the contradiction: while water pipes are rigid, electricity cables are rather flexible, so how does one material fit into both these applications? The credit for this goes to a chemical called plasticizer, which is used to decrease the viscosity of the plastic and make it more pliable and flexible.

Thus, with the increasing demand for PVC, the plasticizers market is on path to reaching $16,700.6 million by 2024, from $13,967.9 million in 2018, at a 3.5% CAGR during 2019-2024. There are two types of plasticizers added to PVC and many other plastics: non-phthalates and phthalates.

Of these, phthalates are consumed in higher volumes, owing to their importance in the manufacturing of medical-grade plastics, coatings, and emulsifying and anti-viscosity agents. But, in the coming years, much of their usage is expected to be replaced by non-phthalates, which are less toxic than the phthalate variants.

The consumption of both these types of plasticizers is increasing owing to the growing construction industry, where a variety of plastics are used. For instance, diisononyl phthalate (DINP), dioctyl phthalate (DOP), dibutyl phthalate (DBP), and dioctyl terephthalate (DOTP), are mixed with PVC to make it flexible, soft, and pliable. Around $10 trillion are spent on construction-related activities each year, according to McKinsey.

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Due to the rising population around the world, the demand for commercial, industrial, and residential infrastructure is rising, which is giving a push to the construction sector, thereby leading to the increasing consumption of plasticizer-containing plastics.

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This release was published on openPR.