Global Plasticisers Market Report and Forecast 2023-2028

Global Plasticisers Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global plasticisers market is projected to grow at a CAGR of 3.5% between 2023 and 2028. Aided by the escalating need for flexible and durable materials in various applications and the burgeoning utility of plasticisers in numerous industries, the market is expected to reach a value of USD 24.64 billion by 2028.

Plasticisers, primarily phthalates, are substances that are integrated into a polymer to increase its flexibility, extensibility, and processability. They achieve this by reducing the intermolecular forces within the polymer chains. Predominantly utilised in the manufacture of flexible polyvinyl chloride (PVC), plasticisers have made significant inroads in diverse products ranging from cables and wires to flooring materials.

A salient driver of the global plasticisers market growth is the incessant demand for more flexible materials in diverse applications. As industries expand and evolve, there is a discernible shift towards materials that offer greater resilience and adaptability. This has invariably led to a heightened demand for plasticised materials, especially in sectors like construction, automotive, and consumer goods. The proliferation of urban environments and the subsequent rise in construction activities have also necessitated materials that can endure varied conditions, thereby amplifying the relevance of plasticisers.

Another factor boosting the plasticisers market demand is the myriad applications of the product in different industries. In the automotive industry, plasticisers are indispensable for producing flexible plastics that are integral to the vehicle's interiors, under-the-hood components, and various other parts. Their ability to withstand temperature fluctuations and provide durability makes them essential. Similarly, in the consumer goods sector, products such as footwear, toys, and even certain clothing items benefit from the flexibility imparted by plasticisers.

However, the most notable boost for the plasticisers market comes from the rapid innovations in the realm of materials science. There's a burgeoning interest in bioplastics, environmentally friendly polymers derived from renewable biomass sources. As sustainability becomes a cornerstone for modern industries, the incorporation of plasticisers in bioplastics ensures these materials maintain the desired flexibility while being ecologically responsible.

On the production frontier, the plasticisers market outlook is witnessing a shift. Historically dominated by the West, there's a palpable move towards Asia, primarily driven by the region's burgeoning manufacturing base and the relatively relaxed regulatory environment. This geographic recalibration is expected to offer new market dynamics and opportunities in the coming years.

Market Segmentation

The market can be divided based on type, application, and region.

Market Breakup by Type

• Phthalate Esters

DOP

DINP/DIDP/DPHP

Others

• Aliphatic Dibasic Acid Esters
• Benzoate
• Trimellitate
• Polyesters
• Bio-Based Plasticisers
• Others

Market Breakup by Application

• Film and Sheet
• Flooring and Walls
• Wire and Cable
• Coated Fabrics
• Consumer Goods
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global plasticisers market. Some of the major players explored in the report by Expert Market Research are as follows:

• BASF SE
• Arkema Group
• Evonik Industries AG
• Exxon Mobil Corporation
• Eastman Chemical Company
• LG Chem
• Ineos AG
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.