Press release
Plasticizers Market Size to Reach $135.58 Billion by 2029 | Growth at 8.3% CAGR Forecast
Plasticizers
What is the Projected Market Size of the Plasticizers Industry?
In recent times, the plasticizers market has seen significant expansion. The market, which is projected to surge from $91.81 billion in 2024 to $98.62 billion in 2025, is expected to witness a Compound Annual Growth Rate (CAGR) of 7.4%. Factors contributing to this growth during the past period include robust economic growth in emerging markets, growing demand for polyvinyl chloride (PVC), heightened demand for industrial packaging merchandise, and an uptick in global chemical mergers and acquisitions.
What Will Be the Size of the Plasticizers Market by 2029?
The market size of plasticizers is anticipated to experience robust growth in the ensuing years. This market is projected to reach $135.58 billion by 2029, with a compound annual growth rate (CAGR) of 8.3%. The growth during the forecast period is likely due to the rising demand for plastic or pvc, along with an increased need for plasticizers in the healare sector. Key trends during the forecast period consist of eco-friendly plasticizers, the heightened utilization of recycled raw materials in plasticizers, an upsurge in mergers and acquisitions, factory automation using robotics, as well as phthalate alternatives.
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What Are the Key Drivers Accelerating Growth in the Plasticizers Market?
The plasticizer market is experiencing growth, thanks in large part to the rising need for flexible polyvinyl chloride (PVC). This variant of PVC is softer than its unplasticized counterpart due to the incorporation of plasticizers. Its growing use across different industries is driving an increased demand for plasticizers. Longevity, lightness, compactness, and a minimal carbon footprint make flexible packaging a preferred choice, leading to a surge in PVC demand in the packaging sector.
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How Is the Plasticizers Market Segmented by Type, Application, and Region?
The plasticizers market covered in this report is segmented -
1) By Product Type: Phthalates Plasticizers, Non-Phthalates Plasticizers
2) By Distribution Channel: Online, Offline
3) By Application: Flooring & Wall, Film & Sheet Coverings, Wires & Cables, Coated Fabrics, Consumer Goods, Other Applications
Subsegments:
1) By Phthalates Plasticizers: Di(2-Ethylhexyl) Phthalate (DEHP), Diisononyl Phthalate (DINP), Di-N-Butyl Phthalate (DBP), Dicyclohexyl Phthalate (DCHP), Other Phthalates
2) By Non-Phthalates Plasticizers: Adipates, Sebacates, Trimellitates, Epoxidized Soybean Oil (ESBO), Citrate Esters, Other Non-Phthalates
What Are the Key Trends Driving Growth in the Plasticizers Market?
Environmentally friendly plasticizers are gaining popularity as a replacement for hazardous phthalate plasticizers such as DOP, DBP, BBP, and DEP. These eco-friendly substitutes have multiple benefits, including good electrical resistivity, weather resistance, enhanced mechanical strength, and high heat stability. Such attributes are leading to the phasing out of phthalate plasticizers in favor of the eco-friendly alternatives. Eco-friendly plasticizers are additives used in polymers to improve their plasticity. The worldwide market for these environmentally friendly plasticizers is experiencing rapid growth due to heightened demand for materials that safeguard human health and the environment. Characterized by low toxicity and excellent compatibility, these plasticizers are utilized primarily in film and cable production sectors, contributing towards the expansion of the overall plasticizer market.
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Who Are the Leading Companies Driving Growth in the Plasticizers Market?
Major companies operating in the plasticizers market include LG Chem Ltd., Dow Chemical Company, BASF SE, UPC Group, Evonik Industries, Arkema S.A., Ineos Group, Eastman Chemical Company, Exxon Mobil Corporation, Nan Ya Plastics Corporation, Indo-Nippon Chemical Co. Ltd, KLJ Group, Amines & Plasticizers Limited, Lemon-Flex Company Limited, Bluesail Group Co. Ltd, Zhejiangjiaao Enprotech Stock Co.Ltd, Shanghai Rongou Chemical Technology Co. Ltd., Nayakem Organics Pvt. Ltd, Gapuma UK Ltd., Alphagary, Perstorp, DOMO Chemicals, MegaChem (UK) Ltd., Grupa Azoty ZAK S.A., Gazprom Neft, Krahn Chemie Group, SIBUR, GJ Chemical, The Chemical Co., Chemionics Corp., ChemCeed, Valtris, Palmer Holland Inc., Hanwha International LLC, TRInternational Inc., Broadview Technologies Inc., Lestar Química, Innospec, elekeiroz, Laxness, Linevol, BIOPOL S.A., Astra Polymers Compounding Company, Nassagi Iran Rise Alborz, Al Faisal Plastic Company, I. Plast Ltd., Chryso, Misr El-Hegaz Group, nasydco, CEMEX Egypt, Teknor Apex.
Which Is the Leading Region in the Global Plasticizers Market?
Asia-Pacific was the largest region in the plasticizers market in 2024. North America was the second-largest region in the global plasticizers market. The regions covered in the plasticizers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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