Plasticizer market to witness comprehensive growth by 2025

The global plasticizer market is expected to register a CAGR of 5.4% from 2018 to 2025. Plasticizer with low molecular weight includes DEHP, BBP, and DBP, whereas, plasticizer with high molecular weight such as DINP & DIDP. The mixture of plasticizer sub segments with polyvinyl chloride (PVC) such as PVC+DINP, and DIDP are highly demanded in global plasticizer market as they are safe, flexible, durable, cost effective, and recyclable.

China is the largest plasticizer market in the world, accounting for nearly 42% of global plasticizer consumption in 2017. It also has the highest forecast consumption growth due to increased plasticizer consumption in goods, for both domestic and export markets.

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Asia-Pacific dominates the plasticizer market, in terms of volume during forecasted period. This is caused due to improved economic condition, increased infrastructural development, large demand of PVC products from different end user industries such as healthcare, construction and housing, automotive, electric and electronics, and medical.

Phthalates, aliphates, and polymeric plasticizers are the key products available in the global plasticizers market. Phthalates is preferred largely among consumers and is expected to remain significant among all the product types in the future.

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According to European Council for Plasticisers and Intermediates (ECPI), around 96% of plasticisers are used in soft PVC production for durable goods such as cable, film, roofing, flooring or wall coverings, and others. Other 4% is used in sensitive applications such as medical devices, food packaging, toys; these applications are covered by specific European legislation to ensure optimal consumer and environmental safety. High molecular weight phthalates account for around 85% of the European market. Low molecular weight phthalates represent less than 11% of the phthalates used in Europe.

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The key leading players in the global plasticizer market are Arkema, BASF, Dow Chemical, Evonik, Exxon Mobile, Eastman, LANXESS, Teknor Apex, Galata Chemicals, Aekyung Petrochemical, LG Chem, and UPC Group.