Industry Press Releases

Plasticizers Market Worth 16.15 Billion USD by 2022

Friday, Mar 02, 2018

The report "Plasticizers Market by Type (Phthalates, Non-Phthalates), Application (Flooring & Wall Covering, Wire & Cable, Coated Fabric, Consumer Goods, Film & Sheet), and Region (Asia Pacific, Europe, North America) - Global Forecast to 2022" published by MarketsandMarkets™, the market is estimated at USD 12.23 Billion in 2017, and is projected to reach USD 16.15 Billion by 2022, at a CAGR of 5.7% from 2017 to 2022 The rising demand for plasticizers for the manufacture of flexible PVC is expected to drive the Plasticizers Market during the forecast period. The manufacture of flexible PVC consumes about 85% of the global Plasticizers Market. The necessity to soften plastics for usage in various applications, such as wire & cable, film & sheet, and flooring & wall covering, among others by increasing the flexibility of plastics, have resulted in high demand for plasticizers.

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Among types, the phthalates segment led the Plasticizers Market in 2016

Phthalates is the largest segment of the Plasticizers Market, owing to availability at cheap rates and wide usage in various industries. Dioctyl Phthalate (DOP) and Diisononyl Phthalate (DINP) / Diisodecyl Phthalate (DIDP) / Di(2-propylheptyl) Phthalate (DPHP) are the most commonly used phthalate plasticizers in the market. Their excellent properties, such as high durability, stability, and strong performance are also driving the phthalates market.

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Among applications, the flooring & wall covering segment is expected to lead the Plasticizers Market during the forecast period

Flooring & wall covering is the largest segment of the Plasticizers Market, due to the rise in construction across the globe along with an increased need for renovation and maintenance of existing buildings, which are expected to drive demand during the forecast period.

The Plasticizers Market in Asia Pacific is projected to grow at the highest CAGR during the forecast period

Asia Pacific is the largest and the fastest-growing market for plasticizers due to the rising demand for flexible PVC in the region. Increasing construction activities and demand for automotive are expected to drive the market for plasticizers. The region is projected to be the fastest-growing market due to rising construction activities, especially in the residential sector, increasing automotive production, and industrialization. China was the largest market for plasticizers in the Asia Pacific in 2016.

Key players in the Plasticizers Market

Key players operating in the Plasticizers Market are UPC Technology Corporation (Taiwan), Exxon Mobil Corporation (US), Aekyung Petrochemical Co., Ltd (South Korea), BASF SE (Germany), and Nan Ya Plastics Corporation (Taiwan). These companies undertake dynamic business strategies to sustain their growth in the Plasticizers Market.

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