The global Plasticizers market was valued at USD 16.26billion in 2016 and is projected to reach USD 27.46billionby 2025, growing at a CAGR of 6.00% from 2017 to 2025.
Plasticizers are used in plastic manufacturing to improve the physical properties of final product. They are either low volatility liquids or solids. The growing demand for plastics is boosting demand for plasticizers. The demand is expected to remain high in Asia Pacific owing to presence of large number of manufacturing facilities.
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1. Market Drivers
1.1 Product innovation in high and non-phthalates
1.2 Growing demand for PVC
2. Market Restraints
2.1 Decline in demand for DOP
2.2 Uncertain low phthalate demand in Asia Pacific
The global Plasticizersmarket is segmented on the type, sub type, and region.
1. By Type:
1.1 High Phthalates
1.2 Non Phthalates
1.3 Low Phthalates
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2. By Sub Type:
2.1 Dioctyl Phthalate
2.2 Diisonomyl Phthalate/Diisodecyl Phthalate
2.3 Dioctyl Terephthalate
2.4 Bio Based Plasticizer
3. By Region:
3.1 North America (U.S., Canada, Mexico)
3.2 Europe (Germany, UK, France, Rest of Europe)
3.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
3.4 Latin America (Brazil, Argentina, Rest of Latin America)
3.5 Middle East & Africa
The major players in the market are as follows:
1. UPC Technology Corporation
2. Exxonmobil Corporation
3. BASF SE
4. Nan Ya Plastics Corporation
5. Aekyung Petrochemical Co. Ltd.
6. Shandong Qilu Plasticizers Co. Ltd.
7. Eastman Chemical Company
8. LG Chem
10. Shandong Hongxin Chemicals
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These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.