Plasticizers Market Outlook - Supply and Demand Analysis 2024-2032

Plasticizers Market

Plasticizers are non-volatile and colourless liquid or solid substances used to improve the flow and thermoplasticity of a raw polymer like plastic or rubber. It is among the most commonly used additives in the plastics industry. Currently, out of 30,000 tested polymer plasticizers, only 50 are made commercially available, which are categorised into phthalates, dicarbonates, phosphates, and fatty acid esters. Plasticization of a polymer can be carried out through internal plasticization or external plasticization.

Global Supply/Demand Outlook

The global plasticizers market stood at a volume of around 10,000 KT in the year 2023. The market is estimated to grow at a CAGR of 4.0% between 2024 and 2032 to reach a volume of about 14,260.5 KT by 2032. Plasticizers are widely used in various sectors to enhance the flexibility, durability, and workability of plastics. The products are extensively used in various end-use industries such as construction, automotive, and packaging. In the construction industry, plasticizers are primarily used in the production of concrete and mortar to enhance their workability and durability. In the automotive sector, plasticizers are employed in the manufacturing of various interior and exterior components, such as dashboards, door panels, and bumpers. These additives improve the flexibility, impact resistance, and thermal stability of the components, thereby increasing their durability and longevity. In terms of application, flexible PVC dominates the market and accounts for around 80–90% of the global plasticizer consumption. The anticipated increase in the demand for flexible PVC is expected to continue to boost the consumption of plasticizers.

Phthalates, among different types, contributed to more than 53% of the global plasticizers consumption in 2023, down from nearly 60–65% a few years ago. In recent years, there has been a significant shift toward non-phthalate-based plasticizers due to growing awareness about the harmful effects of phthalates on human health and the environment. Non-phthalate plasticizers are considered safer and more environmentally friendly alternatives to traditional phthalate-based plasticizers, making them a preferred choice in various applications.

The global capacity of plasticizers was about 12,400 KT in the year 2023. It is estimated to reach 16.500 KT by 2032. The plant capacity utilization of plasticizers remained 81% in 2023.

Regional Market Analysis

In terms of consumption, the Asia Pacific dominates the market with an estimated 69% market share. The downstream plasticizer markets are greatly influenced by the global and regional economic conditions. In 2020, Mainland China accounted for more than half of the global plasticizer consumption. The region is expected to continue its dominance in the forecast period as well, supported by increased use of plasticizer in goods for both local and export markets.

Key Market Players

The top five market players are BASF SE, ExxonMobil Chemical, Eastman Chemical Company, Ineos Group, and Aekyung Chemical. Among these, BASF is the world's leading producer of plasticizers and it holds approximately 5% of the global plasticizers capacity.

Other major manufacturers of plasticizers are Evonik Industries AG, LG Chem Ltd., UPC Technology Corporation, Avient Corporation, Lanxess AG, and OQ Chemicals GmbH.

Key Questions Answered in the Report:

• What are the high-growth opportunities and markets for plasticizers by application and region?

• What are the different types of plasticizers available by region?

• Which segments and regions are projected to grow at a faster pace and why in the plasticizers market?

• What is the nameplate capacity of plasticizers by region from 2018 to 2032?

• How does the plant capacity utilisation of plasticizers vary by region between 2018 and 2032?

• Who are the major players in the plasticizers market by capacity and region?

• What major plant shutdowns and expansions have occurred in the plasticizers market in the last year and the last quarter?

• What major plant shutdowns and expansions are planned in the plasticizers market over the next year and quarters?

• How did export and import dynamics of plasticizers vary by region in terms of value between 2018 and 2023?

• How did export and import dynamics of plasticizers vary by region in terms of volume between 2018 and 2023?

• What impacts have shutdowns, force majeure events, and plant closures had on demand and pricing of plasticizers?

• What are the environmental considerations and regulatory impacts affecting the plasticizers market?

• What technological innovations are having an impact on the production and application of plasticizers?

• What are the key trends and innovations in the plasticizers market?

• What are the challenges and opportunities faced by plasticizers manufacturers?

• What are the potential risks and barriers to entry for new players in the plasticizers market?

• What strategic investments and expansions have major players made in the plasticizers market?

• How are geopolitical factors and international trade policies affecting the global plasticizers market?

• What are the price trends for plasticizers, and how are they expected to change?

• How does the supply chain of plasticizers operate, and what are its key components?