Global Plasticizers Market – Forecast to 2021- 2028

James Bond

April 18, 2022

Contents hide

1 Global Plasticizers Market Overview :

2 Scope of the Report :

3 Key Market Trends :

3.1 The Asia-Pacific Region to Dominate the Market Growth :

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4.1 By Companies

4.2 By Type

4.3 By Application

4.4 Plasticizers Market by Region:

Global Plasticizers Market Overview :

During the forecast period, the bio plasticizers market is expected to grow at a compound annual growth rate (CAGR) of more than 6 percent (2021-2026).

In the year 2020, COVID-19 had a negative impact on the stock market. Construction works were temporarily halted as a result of the pandemic scenario and the government-imposed shutdown as a result of the lockdown. This has resulted in a drop in the consumption of bio-plasticizers in flooring and wall coverings, as well as in wires and cables, which in turn has a negative influence on the demand for bio-plasticizers on the global market. Although the food and e-commerce segments have seen a considerable increase in packaging demand throughout this period, the demand for packaging materials including bio-plasticizers has also increased, resulting in increased market growth for these materials.

Short-term market expansion is likely to be fueled by the increasing demand for bio-plasticizers for flexible PVC and the limitation on the use of phthalate-based plasticizers.
When compared to traditional plasticizers, the cost of bio-plasticizers is significantly higher, which is expected to limit the market’s growth.
Research on bio-based plasticizers is continuing, and it is expected to yield new prospects for the industry in the coming years.
The Asia-Pacific region is predicted to lead the market throughout the forecast period, and it is also expected to have the highest compound annual growth rate (CAGR).

Scope of the Report :

The bio-plasticizers are polymer materials obtained from renewable sources such as vegetable oil and biomass, which are considered to be environmentally friendly. In certain ways, it can be considered an alternative for polyvinyl chloride (PVC), and it finds its most widespread use in end-user industries such as the building and construction industry, electronics industry, and automobile industry. The bio-plasticizers market may be divided into three categories: type, application, and geography. The market is divided based on type into epoxidized soybean oil, castor oil, citrates, succinic acid, and other forms of oils and fat. Market segments are based on use, with wire and cables being the most common. Other applications include flooring and wall covering, medical devices, package materials, and other types of materials. The research also includes information on the size and growth prospects of the bio-plasticizers market in 15 countries across various geographic regions.

Key Market Trends :

Demand from the flooring and wall covering industries is increasing.
Bio-plasticizers aid in the reduction of water consumption while also making concrete robust and workable. The majority of them are organic chemicals, or a combination of organic and inorganic molecules, that aid in the reduction of water content for workability.
The amount of plasticizers used in cement is approximately 0.1 percent to 0.4 percent of the total weight of the cement. This amount minimises the water needs by 5 percent to 15 percent while also increasing the workability by around 3 to 8 cm slump. An average plasticizer contains less than 2 percent air, according to the manufacturer.

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The total value of new construction put in place in the United States was approximately USD 1,365 billion in 2019, and it is expected to reach approximately USD 1,429 billion in 2020, representing a growth rate of approximately 4.5 percent. The demand for flooring and wall covering increased as a result, which in turn increased the need for bio-plasticizers on the global market for plasticizers.
As a result, with the growing demand for water resource conservation, the use of plasticizers in flooring and wall coverings is fast increasing, particularly in the construction industry.
Due to a combination of these reasons, the demand for bio-plasticizers is expected to increase throughout the world over the forecast period.

The Asia-Pacific Region to Dominate the Market Growth :

With a rapidly growing population, rising middle-class wages, and increased urbanisation, the Asia-Pacific construction sector is the largest in the world and is developing at a healthy rate, according to the World Bank.
The expansion of infrastructure construction operations, as well as the admission of significant businesses from the European Union into the lucrative Chinese market, have all contributed to the industry’s growth in recent years.
Because of the central government’s desire for infrastructure investment as a means of sustaining economic growth, China’s construction industry has grown at a rapid pace in recent years. When it comes to the construction sector, China is the leader, with a market size of USD 1,092.9 billion in the year 2019, representing a 14.71 percent increase over the previous year.
Furthermore, the total new construction in Japan accounted for around 127.55 million square metres in 2019 and will reach approximately 113.74 million square metres in 2020, representing a drop rate of approximately 10.5 percent over the same period the previous year. This resulted in a decrease in the consumption of bio-plasticizers for applications such as wire and cable, flooring, and wall coverings, among others.
Apart from that, prohibitions on foreign investment in land development, high-end hotels, office buildings, international exhibition centres, as well as the construction and operation of huge theme parks, have been removed. Over the forecast period, the expansion of the infrastructure and transportation sectors is likely to fuel the growth of the bio-plasticizers market in the area.
The Packaging Industry Association of India (PIAI) also reports that India is rapidly becoming a preferred location for the plastic packaging industry. It is the fifth-largest sector in the Indian economy, behind agriculture and manufacturing.
In the United States, health-care spending and medical facilities are increasing at a consistent rate, which indicates that the sector is expanding consistently.
In addition, the NHP Scheme, the world’s largest government-funded healthcare programme, was launched by the government in 2009. By 2022, the Indian healthcare market is expected to have tripled in size, reaching INR 8.6 trillion (USD 133.44 billion)