Press release
Plasticizers Market Projected to Reach $26.9 Billion by 2031
Meticulous Research®, a prominent global market research firm, recently released a report titled "Plasticizers Market-Global Opportunity Analysis and Industry Forecasts (2024-2031)." The report indicates that the global plasticizers market is projected to reach $26.9 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.Download free sample report here: https://www.meticulousresearch.com/download-sample-report/cp_id=6022
The market's growth is driven by several key factors, including rising construction and infrastructure projects in developing countries and the increasing use of plasticizers in consumer goods and automotive industries. However, the market faces challenges due to fluctuating raw material prices, which may hinder its expansion.
Opportunities for growth lie in the increasing demand for eco-friendly plasticizers and the expanding use of plasticizers in packaging materials. On the flip side, the market is challenged by strict regulations concerning plastic products, which pose significant hurdles for industry players.
Major Players in the Market
The plasticizers market is moderately competitive, with a mix of large, medium, and small-sized global, regional, and local players. Key companies include:
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.)
Nan Ya Plastics Corporation (Taiwan)
Browse in depth: https://www.meticulousresearch.com/product/plasticizers-market-6022
Market Segmentation
The plasticizers market is segmented by type and end-use industry. The report provides detailed insights into market players and evaluates the market on both regional and national levels.
Types of Plasticizers
In 2024, phthalate plasticizers are expected to dominate the market with over 47% of the total share. Phthalates are popular due to their cost-effectiveness, low volatility, and their ability to create highly flexible and elastic materials. Additionally, their widespread use in products like vinyl flooring, coatings, pipes, and insulation, as well as the extensive application of Diisononyl Phthalate (DINP) and Diethylhexyl Phthalate (DEHP) in PVC products, reinforces their market dominance.
End-Use Industries
In terms of end-use industries, the building & construction sector is forecasted to lead the plasticizers market in 2024, accounting for more than 35% of the share. Plasticizers in this sector are used as additives to improve the softness, workability, and durability of concrete, while also reducing water requirements. The rapid pace of urbanization and infrastructure projects, combined with plasticizers' ability to enhance the quality of construction materials, supports the sector's leading position.
Regional Analysis
Geographically, the Asia-Pacific (APAC) region is expected to hold the largest share of the plasticizers market in 2024, with over 53%, followed by North America, Europe, Latin America, and the Middle East & Africa. The APAC market's dominance is attributed to ongoing industrialization in countries such as China, South Korea, and India, increasing construction activities, and the growing adoption of advanced packaging solutions by food processors.
Quick buy: https://www.meticulousresearch.com/Checkout/79572464
Additionally, the expanding use of plasticizers to improve the performance and flexibility of various products contributes to the region's strong market position.
Related research:
1. Blog: https://meticulousblog.org/plasticizers-market-projected-to-reach-26-9-billion-by-2031/
2. Thermoplastic Elastomers (TPE) Market https://www.meticulousresearch.com/product/thermoplastic-elastomers-market-5896https://www.meticulousresearc
3. Plastic Additives Market: h.com/product/plastic-additives-market-5840
4. Recycled Plastics Market https://www.meticulousresearch.com/product/recycled-plastics-market-5999
5. 3D Printing Plastics Market https://www.meticulousresearch.com/product/3d-printing-plastics-market-5950
Contact:
Mr. Khushal Bombe
Meticulous Market Research Inc.
1267 Willis St, Ste 200 Redding,
California, 96001, U.S.
USA: +1-646-781-8004
Europe : +44-203-868-8738
APAC: +91 744-7780008
Email- sales@meticulousresearch.com
Visit Our Website: https://www.meticulousresearch.com/
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We are the trusted research partners for leading businesses around the world, providing market intelligence focused towards building revenue transformation strategies. Our research is used by Fortune 500 organizations to attain success by scouting next generation revenue opportunities well ahead of their competition.
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