Market Definition
Plasticizers are a range of synthetic chemicals that reduce the amount of friction between materials. Plasticizers reduce friction in the application of synthetic materials such as polyvinyl chloride (PVC) and polyurethane.
Market Size Analysis:
According to a report by Altus Market Research titled, “Plasticizers Global Market 2022 Share And Strategies To 2030: By Product Type: (Phthalates Plasticizers; DOP; DINP/DIDP/DPHP; Non-Phthalates Plasticizers; DOTP; Adipates; Trimellitates; Epoxies; Benzoates); By Application; By Distribution Channel“, the global plasticizers market size is expected to grow from $13,342.7 million in 2020 to $13,951.6 million in 2021 at a growth rate of 0.04%. The growth is mainly due to strong economic growth in emerging markets, increased demand for polyvinyl chloride (PVC), increased demand for industrial packaging products, increase in global chemicals mergers and acquisitions (M&A). In addition to this, faster economic growth, increasing demand for plasticizers from the healthcare sector have positively influencing the growth of plasticizers on the global level. The market is expected to grow at a CAGR of 4.6% from 2020 to reach $16,693.5 million in 2025. The global plasticizers market is expected to reach $21,471.4 million in 2030, at a CAGR of 5.2%.
Market Growth by Key Players:
The global plasticizers market share is highly fragmented, with large number of small players in the market. The top ten competitors in the market made up to 66.06% of the total market in 2020. Major players in the market include LG Chem Ltd., Dow Chemical Company, BASF SE, UPC Group, Evonik Industries.
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Market Growth Drivers:
Growth in the historic period resulted from strong economic growth in emerging markets, Increased demand for polyvinyl chloride (PVC), increased demand for industrial packaging products, increase in global chemicals mergers and acquisitions (M&A). Factors that negatively affected growth in the historic period were fluctuating raw material costs, regulatory challenges. Going forward, increasing demand for plastic Or PVC increasing demand for plasticizers from the healthcare sector. Factors that could hinder the growth of the plasticizers market in the future include rising interest rates, geo-political tensions, coronavirus pandemic.
Market Growth by Segments:
The plasticizers market is segmented by product type into phthalates plasticizers and non-phthalates plasticizers. The phthalates plasticizers market was the largest segment of the plasticizers market segmented by product type, accounting for 70.3% of the total in 2020. Non-phthalates plasticizers is expected to be the fastest growing segment going forward, at a CAGR of 4.9% during 2020-2025.
The phthalates plasticizers market is sub-segmented by product type into dioctyl phthalate (DOP), diisononyl phthalate (DINP)/ diisodecyl phthalate (DIDP)/ di(2-propylheptyl) phthalate (DPHP) and others.
The DOP market was the largest segment of the plasticizers market segmented by product type, accounting for 42.0% of the total in 2020. DINP/DIDP/DPHP is expected to be the fastest growing segment going forward, at a CAGR of 4.6% during 2020-2025
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The non-phthalates plasticizers market is segmented by product type into dioctyl terephthalate (DOTP), adipates, trimellitates, epoxies and benzoates. The adipates market was the largest segment of the plasticizers market segmented by product type, accounting for 39.8% of the total in 2020. Trimellitates is expected to be the fastest growing segment going forward, at a CAGR of 5.4% during 2020-2025.
Market Growth by Applications:
The plasticizers market is also segmented by application into flooring & wall, film & sheet coverings, wires & cables, coated fabrics, consumer goods and others. The film & sheet coverings market was the largest segment of the plasticizers market segmented by application, accounting for 40.1% of the total in 2020. Other applications is expected to be the fastest growing segment going forward, at a CAGR of 5.9% during 2020-2025.
Market Growth distribution channel
The plasticizers market is also segmented by distribution channel into online and offline. The offline market was the largest segment by distribution channel, accounting for 83.9% of the total in 2020. Online is expected to be the fastest growing segment going forward, at a CAGR of 6.3% during 2020-2025.
Market Growth by Region:
Asia Pacific was the largest region in the global plasticizers market, accounting for 51.7% of the total in 2020. It was followed by North America, Western Europe, and then the other regions. Going forward, the fastest-growing regions in the plasticizers market will be Middle East and Eastern Europe, where growth will be at CAGRs of 6.0% and 5.7% respectively. These will be followed by North America and Africa, where the markets are expected to grow at CAGRs of 5.2% and 4.8% respectively, during 2020-2025.
Other Players
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, Arkema S.A, Ineos Group, Perstorp, DOMO Chemicals, Amines & Plasticizers Limited (APL), 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, Laxness, Linevol, Elekeiroz, BIOPOL S.A, Astra Polymers Compounding Company, Nassagi Iran Rise Alborz, Al Faisal Plastic Company, I. Plast Ltd, Chryso, Gapuma, Misr El-Hegaz Group, nasydco, CEMEX Egypt, Alphagary, Teknor Apex,
Future Investment Opportunities:
The top opportunities in the plasticizers market segmented by product type will arise in the phthalates plasticizers segment, which will gain $2,269.7 million of global annual sales by 2025. The top opportunities in the phthalates plasticizers market segmented by product type will arise in the DOP segment, which will gain $965.6 million of global annual sales by 2025. The top opportunities in the non-phthalates plasticizers market segmented by product type will arise in the adipates segment, which will gain $403.0 million of global annual sales by 2025. The top opportunities in the plasticizers market segmented by application will arise in the film & sheet coverings segment, which will gain $1,702.3 million of global annual sales by 2025. The top opportunities in the plasticizers market segmented by distribution channel will arise in the offline segment, which will gain $2,586.4 million of global annual sales by 2025. The plasticizers market size will gain the most in the China at $1,067.2 million.
Market: Trend-based Strategies
Market-trend-based strategies for the plasticizers market include eco-friendly plasticizers, increasing use of recycled raw materials in plasticizers, rising in mergers and acquisitions, automation through robotics in factories, phthalate substitutes. Player-adopted strategies in the plasticizers market include expanding production capabilities in developing countries through strategic joint venture with regional players, enhancing competitiveness in chemicals business by expanding operations, and expanding business and operational presence through development.
Growth Strategies by Altus Market Research for Companies in the Market:
To take advantage of the opportunities, The AMR recommends the plasticizers companies to focus to invest in automation through robotics in factories, use of recycled raw materials in plasticizers, expand in emerging markets, expansion through distribution partners, scale up through merger and acquisition activity, partnerships with fast-growing end-use industries, increase adoption of internet and social media, focus on b2b promotions.
