Austin, May 06, 2025 (GLOBE NEWSWIRE) -- The global plasticizers market is projected to reach USD 28.05 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.34% from 2024 to 2032.
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The major factor driving its growth is the robust demand for flexible PVC in flooring, roofing membranes, cables, and films for industrial and residential construction applications. Plasticizers, predominantly phthalates and non-phthalates, are utilized to increase plasticity and elasticity in polymer materials, which enables their usage in a variety of flexible and semi-rigid products. Another factor propelling the market growth is the trend of infrastructure modernization projects in Asia-Pacific and the Middle East, coupled with urbanization and inclination toward lightweight passenger automotive materials and lightweight automotive components. Apart from this, the demand for plasticizer-based materials, including the plastics that are used in wires, pipes, and flooring systems, is set to increase due to government programs for affordable housing and water infrastructure development.
The U.S. plasticizers market size was valued at USD 5.22 billion in 2023, with a market share of around 69% and growing at a significant CAGR over the forecast period. It is due to its well-developed and diversified manufacturing sector, such as the base of automotive, construction, packaging, and consumer goods - the leading end-users of plasticizers. The U.S. construction industry remains a major cornerstone reinvigorated with government investment and implementation towards residential and commercial infrastructure, such as the Infrastructure Investment and Jobs Act, which spent more than USD 1.2 trillion to support investment in the Construction sector. Plasticizers find great use in flexible PVC products such as wires, cables, flooring and roofing membranes, and wall coverings, with a huge demand from these projects contributing tremendously to flexible PVC consumption.
Key Players:
- Aekyung Petrochemical (DOP, DINP, DOTP)
- Arkema S.A. (Vikoflex 7170, Vikoflex 6080, Epoxol 7-4)
- BASF SE (DINCH, Hexamoll DINCH, Palatinol N)
- Bluesail Group Co., Ltd. (DOP, DOTP, DINP)
- DIC Corporation (DIDP, DOA, TOTM)
- Eastman Chemical Company (DOP, DOTP, TOTM)
- Evonik Industries AG (VESTINOL 9, ELATUR CH, VESTINOL IN)
- ExxonMobil Corporation (Jayflex DINP, Jayflex DIDP, Jayflex DTDP)
- Indo-Nippon Chemical Co. Ltd. (DOP, DBP, DEP)
- KLJ Group (DOP, DINP, DOTP)
- LANXESS AG (Mesamoll, Adimoll, Ultramoll)
- LG Chem Ltd. (DOP, DINP, DOTP)
- Nan Ya Plastics Corporation (DOP, DOTP, DINP)
- OXEA Corporation (DOA, DOTP, DBT)
- Perstorp (Pevalen, Emoltene 100, Emoltene 50)
- Polynt S.p.A. (TOTM, DOA, DBP)
- UPC Technology Corporation (DOP, DOTP, DINP)
- Valtris Specialty Chemicals (Benzoflex 9-88, Benzoflex 1046, Santicizer 160)
- Velsicol Chemical, LLC (Santicizer 160, Santicizer 278, Santicizer 141)
- Zhejiangjiaao Enprotech Stock Co., Ltd. (DOTP, TOTM, ATBC)
Plasticizers Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 17.57 Billion |
| Market Size by 2032 | USD 28.05 Billion |
| CAGR | CAGR of 5.34% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Phthalate [Dioctyl phthalate (DOP), Diisononyl phthalate (DINP), Diisodecyl phthalate (DIDP), Di(2-propylheptyl) phthalate (DPHP), Dibutyl phthalate (DBP), Diisobutyl phthalate (DIBP)], Non-phthalate [Terephthalates, Adipates, Maleates, 1,2-cyclohexane dicarboxylic acid diisononyl ester (DINCH)]) • By Application (Wires & Cables, Floorings & Wall Coverings, Films & Sheets, Coated Fabrics, Consumer Goods, Others) |
| Key Drivers | • Rising Demand for Plasticizers in the Growing Electrical and Electronics Industry Fueling Market Expansion. |
Market Segmentation
By Type
Phthalate plasticizers held the largest market share of around 59.4% in 2023. These include commonly used types such as DEHP, DBP, and DOP, valued for their cost-effectiveness, ease of processing, and superior compatibility with PVC. Phthalate plasticizers are extensively used in applications such as cables, flooring, hoses, and coated fabrics. However, mounting environmental scrutiny has caused a gradual shift toward non-phthalate alternatives.
By Application
The wires & cables segment held the dominant market share of 29.7% in 2023. It is expected to continue its growth trend with an increase in the adoption of flexible, insulated, and long-lasting raw materials from construction, energy, telecommunications, and automotive sectors. Plasticizers are essential additives for improving the properties of polyvinyl chloride (PVC), the most commonly used wire and cable insulation material. Plasticizers make PVC softer and more pliable, allowing cables to bend and avoid cracking from mechanical stresses, enabling the complex hookups that characterize modern infrastructure.
Plasticizer-based sheathing in residential and commercial construction facilitates long service life and safety in electrical installations, while in industrial applications, including control panels and robotics, and heavy machinery, plasticizer-based cables resist heat, moisture, and chemicals.
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Regional Analysis
In 2023, the global plasticizers market was segmented based on region, with Asia-Pacific accounting for 43.1% of the total. Backed by a robust manufacturing base, high urbanization, and an infrastructure development push. Plasticizers are mainly targeted towards flexible PVC products used in construction, automotive, electronics, and consumer goods end-user industries and are predominantly located in China, India, Japan and South Korea. Ongoing expansion of real estate projects, particularly in China and India, is driving expansion of plasticizers in flooring, wall coverings, roofing membranes and wiring applications.
Moreover, growing production of electric vehicles and development of electrical infrastructure across the region are escalating demand for plasticizers for manufacturing heat- and weather-resistant cables and electric automobile interior components. A strong supply chain, along with the presence of several PVC and plasticizer manufacturers, is responsible for the high cost-effectiveness of production in the Asia-Pacific region. Moreover, supportive government initiatives such as the “Made in China 2025” program and the “Smart Cities Mission” from India are promoting investments in the industrial manufacturing and infrastructure sectors, which, in turn, are boosting the market for plasticizers.
Recent Developments
- In January 2024, Evonik Industries expanded its sustainable chemicals portfolio with the introduction of a new high-performance non-phthalate plasticizer for sensitive applications, including medical tubing and food wraps.
- In February 2024, BASF SE added capacity for producing environmentally friendly plasticizers in Ludwigshafen, Germany, responding to increased demand in the European and North American markets for low-emission VOC, REACH-compliant products.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Plasticizers Market Segmentation, By Type
8. Plasticizers Market Segmentation, By Application
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practice
12. Conclusion
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