The global plasticizers market size stood at USD 17.34 billion in 2022. The market is set to expand from USD 17.99 billion in 2023 to USD 23.88 billion by 2030, exhibiting a CAGR of 4.1% over the study period.

Some of the commonly used plasticizers comprises of adipates, phthalate esters, and trimellitates. The product is extensively used in the packaging industry for protecting flexible films that are used for protecting and wrapping various consumer goods. This is expected to fuel industry growth over the coming years.

Fortune Business Insights™ provides this information in its research report, titled “Plasticizers Market, 2023-2030”.

COVID-19 Impact:

Supply Chain Disruptions Affected Market Growth during COVID-19 Pandemic

The COVID-19 pandemic led to disruptions in the global supply chain owing to the enforcement of lockdown restrictions by the governments of several countries. This created a scarcity of raw materials, affecting manufacturing activities across various regions. This impacted the industry expansion during the pandemic period.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit:

Segmentation:

Phthalates Segment Holds Leading Share Due to Increasing Product Use on Account of Low Cost

Based on type, the market is segmented into non-phthalates and phthalates. The phthalates segment accounts for a major market share. This is due to the increasing product usage in several applications on account of the product’s versatility and low cost.

Wire & Cable Segment Led Due to Escalated Product Usage to Enhance Safety during Power Transmission

Based on application, the market is categorized into flooring & wall covering, wire & cable, consumer goods, coated fabrics, film & sheet, and others. The wire & cable segment is poised to register a key market share. This is driven by the extensive product usage in telecommunications and power transmission given the role played by plasticizers to enhance wire safety.

By geography, the market for plasticizers has been studied across Europe, Asia Pacific, North America, Latin America, and the Middle East & Africa.

Report Coverage:

The report presents an overview of the major factors anticipated to boost the industry growth over the coming years. It also gives an account of the key steps deployed by major companies to strengthen their market share. The report also discusses the pivotal trends in the market.

Drivers and Restraints:

Market Value to Surge Due to Growing Inclination toward Non-Phthalate Products

The rising awareness regarding the harmful effects of phthalate-usage on the environment and human health has led to a shift toward the use of non-phthalate-based plasticizers. They are a more sustainable option considering their biodegradable nature. These factors are expected to boost their deployment, impelling plasticizers market growth over the coming years.

However, the industry expansion could be hindered owing to the enforcement of stringent regulations associated with the usage of phthalate-based materials.

Regional Insights: