The growth building & construction industry is one of the significant factors influencing the market growth.
Market Size – USD 13.81 Billion in 2019, Market Growth – CAGR of 5.3%, Market Trends – Increasing demand from the emerging nations of the APAC region
The global Plasticizers Market is expected to reach USD 20.96 Billion by 2027, according to a new report by Reports and Data. Plasticizers find widespread usage in the production of vinyl flexible or polyvinyl chloride (PVC) and pliant. It finds extensive applications in various products in hospitals, homes, businesses, and cars. It is extensively used for softening vinyl due to its stability, durability, and robust performance. Due to its strength, durability, and ability to withstand high temperatures, it is used in resilient flooring, PVC coatings, and wall coverings, among others. Factors like the expansion of the construction and automotive sector industry, and escalating necessity for flexible PVC are fostering the growth of the sector.
Factors like the expansion of the construction sector, and the escalating necessity for flexible PVC is supporting the sector growth. The construction sector is a significant contributor to the increase in the sales of the plasticizers attributed to the continuous expansion of the construction sector and the diverse applicability of this plasticizer in this industry like in wire & cable, flooring & wall coverings.
Furthermore, the report is furnished with the latest impact of the COVID-19 pandemic on the market. The pandemic has affected every segment of the market, along with bringing disruption in the supply chain, demands & trends, and financial difficulties. The report covers the initial and future assessment of the COVID-19 impact on the market.
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The report covers the market dynamics analysis, company profiles, production and manufacturing capacity, product specifications, product value, and key players. The report also offers an insight into the growth prospects during the forecast period. The Plasticizers Market report also offers detailed data on the key market players to impart a deeper understanding of the competitive landscape. The report focuses on the key market elements to ensure the readers gain a competitive advantage and maximum benefit of the market data to assist them in achieving substantial growth and an advantageous position in the global market.
Key findings of the report:
By type, phthalate plasticizers contributed to a larger market share in 2019. Phthalates segment is attributed to the rising demand for PVC in various industries where it finds applicability in plasticizing PVC. Its traits like durability and permanency result in its extensive use in applications like wires/cables, automobile applications, and roofing, which also contributes to the market share held by this segment.
By distribution channel, offline held a larger market share in 2019. The polyglycolic acid industry is very offline-intensive and witnesses transparency. The offline channel necessitates the requirement of substantial investment of time by the buyer and high selling costs, along with considerable knowledge of the market on the seller side.
By application, the film & sheet segment is projected to witness the fastest growth rate of 6.1% during the forecast period. The growth rate seen by the Film & Sheet segment is associated with the continuous expansion of the e-commerce sector, growing food & beverage industry that is resulting in rising demand for these plasticizers for packaging purposes contributing to the growth rate witnessed by this segment.
The market in the Asia Pacific region dominated the market in 2019 and is likely to grow at the fastest rate of 5.9% in the forecast period. This is owing to the swift urbanization, development of infrastructure projects, and the robust growth of the automotive and construction industry in this region. Furthermore, the surging demand for the product from the packaging, and consumer goods industry is estimated to spur the market growth in the region.
Key participants include BASF, ExxonMobil, Evonik Industries, UPC Technology, Eastman, LG Chem, Aekyung Petrochemical, Lanxess AG, Polyone Corporation, and Shandong Hongxin Chemicals, among others.
In July 2017, BASF, a leading market player, had started the manufacturing of Palatinol DOTP plasticizer at its Texas facility. The focus of this expansion was to cater to the growing requirements phthalate plasticizers in the North American region.
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For the purpose of this study, the global Plasticizers market has been segmented on the basis of disease type, application, distribution channel, and region:
Type Outlook (Revenue, USD Million; 2017-2027)
- Phthalate Plasticizers
- Non-Phthalate Plasticizers
Distribution Channel Outlook (Revenue, USD Million; 2017-2027)
Application Outlook (Revenue, USD Million; 2017-2027)
- Flooring & Wall Covering
- Wire & Cable
- Coated Fabrics
- Consumer Goods
- Film & Sheet
By Region (Revenue, USD Million; 2017-2027)
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
Key Coverage of the Report:
- An in-depth analysis of the historical years and the forecast period has been offered in the report
- Plasticizers Market dynamics, including key drivers, challenges, restraints, threats, and growth opportunities have been analyzed in reports
- SWOT analysis and Porter’s Five Forces analysis with feasibility analysis and investment return analysis
- Competitive landscape benchmarking along with a comprehensive overview of their company profiles, product portfolios, strategic business decisions, and financial standings
- The report covers mergers and acquisitions, product launches and brand promotions, joint ventures, collaborations, and partnerships among few
- Pictorial representation of the key statistical data into graphs, tables, charts, diagrams, and figures
- An in-depth analysis of the current and emerging market trends and developmental patterns
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