The Global Plasticizers Market is expected to reach USD 20.96 Billion by 2027, according to a new report by Reports and Data. Plasticizers are commonly used in the manufacture of flexible and foldable vinyl or polyvinyl chloride (PVC). In hospitals, households, corporations, and vehicles, it finds broad applications in multiple goods. Due to its stability, longevity, and robust performance, it is widely used for softening vinyl. It is used in durable flooring, PVC coatings, and wall coverings, among others, because of its strength, durability, and ability to withstand high temperatures. Factors such as the expansion of the construction and automotive sector and the growing need for flexible PVC are promoting the sector’s growth.
The growth of the sector is supported by factors such as the expansion of the construction sector and the growing need for versatile PVC. The construction industry is a major contributor to the rise in plasticizer sales due to the continuous growth of the construction sector and the diverse applicability of this plasticizer, such as wire & cable, flooring & wall coverings, in this industry. Although the growth of the industry is driven by different supporting factors, adverse market factors such as strict regulatory standards on the use of plasticizers may hinder the market growth.
The market dominated the market in the Asia Pacific region in 2019 and is likely to rise at the fastest rate of 5.9% in the forecast period. This is due to rapid urbanization, the expansion of infrastructure projects, and the strong growth of the region’s automotive and construction industries. In addition, it is expected that the growing demand for products from the packaging and consumer goods industries will stimulate the region’s market growth.
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Over the forecast period, North America is expected to have a CAGR of 5.1%. This is due to the tight government regulations on the use of conventional phthalate plasticizers and the high demand in commercial and residential applications for PVC products, which is boosting the growth of the market in this area.
Due to the continuous expansion of the automotive sector in this area, Europe had a significant share in 2019. The region’s latest medical device guidelines stress the abolition of the use of phthalates by 2020-2027.
Key participants include
Shandong Hongxin Chemicals
For the purpose of this report, Reports and Data has segmented the Global Plasticizers Market on the basis of type, distribution channel, application, and region:
Type Outlook (Revenue, USD Million; 2017-2027)
Distribution Channel Outlook (Revenue, USD Million; 2017-2027)
Application Outlook (Revenue, USD Million; 2017-2027)
Flooring & Wall Covering
Wire & Cable
Film & Sheet
Regional Outlook (Revenue, USD Million; 2017-2027)
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East and Africa
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