The global phthalate and non-phthalate plasticizers market value is estimated to reach USD 14,432.6 million in 2023. From 2023 and 2033, global phthalate and non-phthalate plasticizer sales are likely to thrive at 4.8% CAGR. by 2033. Total market size at the end of 2033 will reach around USD 22,968.9 million.
Increasing demand from automotive and aerospace industries along with rising health and environmental concerns will boost the market. As per the latest report, the phthalate & non-phthalate plasticizers market accounts for around 0.1% to 1% of the global specialty chemicals market.
Key Trends Shaping Growth in the Market:
Plasticizers are chemical compounds that are added to polymers, such as plastics, to improve their flexibility, durability, and workability. They work by reducing the intermolecular forces between polymer chains.
Addition of plasticizers allows the polymer to become more flexible and easier to shape. There are commonly two types of plasticizers. This includes phthalate and non-phthalate plasticizers.
Few of the key phthalate plasticizers used by end users include dioctyl phthalate, diethylhexyl phthalate, dimethyl phthalate. While examples of commonly used non-phthalate plasticizers include adipates, terephthalates, trimellitates, epoxies, and octyl adipate
Phthalates are the most widely used type of plasticizer and are often used in polyvinyl chloride (PVC) products such as flooring, cables, and toys. They are also used in the manufacturing of several flexible PVC products. This includes vinyl flooring, shower curtains, medical devices such as tubing, catheters, and blood bags, and automotive parts such as dashboards, seats, and interior trims.
Non-phthalate plasticizers are alternative chemicals used to soften and increase the flexibility of plastics without using phthalates. They are typically derived from vegetable oils, citrates, or other types of esters.
Non-phthalate plasticizers are commonly used in products such as toys, food packaging, and medical devices. They are also used in food packaging materials, such as films and coatings, to prevent the migration of chemicals into food.
Non-phthalate plasticizers are considered safer than phthalate-based plasticizers, as phthalates have been linked to potential health risks, such as endocrine disruption.
Growing adoption of phthalate and non-phthalate plasticizers in a wide variety of industries will provide impetus to the global market.
Similarly, changing preferences towards eco-friendly plasticizers/bio-based plasticizers will boost sales.
| Attribute | Key Insights |
|---|---|
| Global Phthalate and Non-Phthalate Plasticizers Market Base Value (2022) | USD 13,934.2 million |
| Estimated Market Size (2023) | USD 14,432.6 million |
| Projected Market Size (2033) | USD 22,968.9 million |
| Value-based CAGR (2023 to 2033) | 4.8% |
| Collective Value Share: Top 5 Countries (2023E) | 60.2% |
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Global sales of phthalate and non-phthalate plasticizers grew at a CAGR of 1.6% from 2018 to 2022. Overall market size at the end of 2022 reached around USD 13,934.2 million. Between 2023 and 2033, global demand for phthalate and non-phthalate plasticizers is likely to surge at 4.8% CAGR.
Increasing usage of phthalate and non-phthalate plasticizers across diverse industries will boost the global market.
In recent years, demand for plasticizers across industries such as automotive and aerospace has increased rapidly. Plasticizers in the aerospace industry are used to modify the properties of various polymers used in the production of electrical insulation materials, such as wires, cables, and connectors.
They are also used to make the foam cushions used in aircraft seating more comfortable and durable. These plasticizers improve the fire resistance of the foam, which is an important safety consideration in the event of a fire.
Plasticizers are also used in the production of sealants and adhesives used in aircraft construction and maintenance. Hence, growing applications in thriving aerospace industry will elevate phthalate and non-phthalate plasticizer demand.
Shifting focus towards non-phthalate plasticizers and rising trend of lightweight vehicles and energy-efficient buildings are likely to boost the global market.
Consequently, increasing popularity of bio-based plasticizers is making strides in the global market. Advantages of bio-based plasticizers are garnering the attention of both manufacturers and end users.
Bio-based plasticizers are derived from renewable sources such as vegetable oils and are biodegradable. This makes them more eco-friendly than traditional plasticizers made from petrochemicals. Hence, inclination toward bio-based plasticizers will create lucrative opportunities for phthalate and non-phthalate plasticizer manufacturers
Rising adoption of environment-friendly products along with the implementation of strict environmental regulations are set to propel demand for non-phthalate plasticizers through 2033.
Thriving Demand for Polyvinyl Chloride (PVC) Products to Boost the Market:
Phthalates are a group of chemicals used as plasticizers in polyvinyl chloride (PVC) to increase its flexibility and durability. They are added to PVC products such as vinyl flooring, toys, medical devices, and food packaging.
PVC (polyvinyl chloride) is a popular material used in several industries, such as construction, automotive, and medical industries. It (PVC) is inherently rigid and brittle and therefore requires plasticizers to improve its flexibility and durability.
Phthalate plasticizers have been widely used in the PVC industry for decades due to their low cost, excellent compatibility with PVC, and good performance properties. Rising demand for PVC products will therefore continue to fuel growth of the phthalate and non-phthalate plasticizers industry.
High Adoption of Non-phthalate Plasticizer Across Automotive & Construction Sectors to Create Growth Prospects
Non-phthalate plasticizers are relatively inexpensive and can be used in a wide range of construction materials. These plasticizers improve the performance of construction materials, which makes them more flexible, durable, and resistant to cracking and breaking.
Increasing demand for non-phthalate plasticizers due to rising consumer awareness and regulatory restrictions on the use of phthalates is anticipated to boost the market. Non-phthalate plasticizers are especially gaining popularity across developed and developing nations.
Booming demand for non-phthalate plasticizers from the automotive sector as a safe and healthier alternative to phthalate plasticizers will positively impact sales.
Automotive industry uses non-phthalate plasticizers for the production of various parts and components. This includes rubber seals, hoses, gaskets, and upholstery.
The use of non-phthalate plasticizers helps to reduce the release of toxic substances into the environment. It also provides a safer working environment for employees who come into contact with these materials. This in turn will continue to elevate non-phthalate plasticizer demand.
Growing Popularity of Bio-based Plasticizers Boosting the United States Market
The United States market is forecast to witness a steady growth rate during the forecast period. This is due to changes in the overall economic conditions, shift in consumer preferences, and growing popularity of bio-based plasticizers.
Burgeoning demand from thriving industries such as construction, automotive, and packaging industries will also boost sales in the country.
The United States accounted for about 15% of the global market in 2022. By 2033, the United States phthalate and non-phthalate plasticizers industry will reach a value of around USD 3,272.6 million.
Growing environmental concerns and increasing governmental regulations in the country are projected to uplift demand for non-phthalate plasticizers. This is due to their eco-friendly nature.
India to Create Ample Opportunities for Phthalate and Non-Phthalate Plasticizer Manufacturers
India is projected to hold a significant share of the global phthalate and non-phthalate plasticizers industry in 2023. It will emerge as a lucrative market for manufacturers during the forecast period. This is due to its rapidly rising population and increasing urbanization.
Demand for plasticizers in the country will also be driven due to the growing demand for plastics in various applications, including packaging, construction, automotive, and consumer goods.
As per Future Market Insights, India phthalate and non-phthalate plasticizers market is set to register a growth rate of around 5.4% CAGR through 2033. It is estimated to create an absolute $ opportunity of USD 633.3 million during the forecast period.
Booming Automotive & Construction Sectors Driving Demand in China
China is likely to retain its dominance over the global phthalate & non-phthalate plasticizers market. The country accounts for nearly 35% share of the global market and is projected to reach a value of USD 7,805.8 million at the end forecast period.
Growth in China market is expected to be driven by the increasing demand for flexible PVC products, such as cables, flooring, and wall coverings, as well as the expansion of the construction and automotive industries.
Non-Phthalate Plasticizers to Witness High Demand Through 2033
As per Future Market Insights, phthalate plasticizer segment will continue to dominate the market. It is estimated to reach a value of USD 11,743.2 million by 2033. Phthalate plasticizers are relatively inexpensive compared to other types of plasticizers. These plasticizers are compatible with a wide range of polymers, including PVC, which is a widely used polymer in many different applications.
Non-phthalate plasticizer segment on the other hand will witness significant growth. The target segment is forecast to exhibit a CAGR of 5.3% over the next ten years. It will likely create an absolute $ opportunity of USD 4,551.7 million through 2033.
Rising demand for non-phthalate plasticizers as bio-based and environment-friendly products from various industries, such as automotive and building & construction is one of the key factors driving growth in the target segment.
Wires and Cables to Remain the Most Remunerative Application
Wires and cables application segment is likely to retain its dominance in the global phthalate and non-phthalate plasticizers market through 2033. The segment accounts for around 23.5% market share in 2023 and is likely to experience a CAGR of 4.5% during the forecast period.
Plasticizers are commonly used in wires and cables to improve their flexibility and durability. The addition of plasticizers can help to make the cable more pliable, which can make it easier to install and reduce the risk of cracking or breaking during use.
Increasing demand for wires and cables from various industries, such as building & construction, automotive, and aerospace will bolster phthalate and non-phthalate plasticizer sales.
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The global phthalate & non-phthalate plasticizers market is a highly consolidated market with the presence of several key manufacturers. These players are focusing on strengthening their partnerships with end users by entering into long term supply agreements.
Leading phthalate and non-phthalate plasticizers manufacturers are continuously investing in research & development and technology advancements to develop customized products. With the growing demand for environmentally friendly products, several players are also aiming at developing phthalate-free plasticizers.
Key Developments:
| Attribute | Details |
|---|---|
| Estimated Market Value (2023) | USD 14,432.6 million |
| Projected Market Value (2033) | USD 22,968.9 million |
| Anticipated Growth Rate | 4.8% CAGR |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million, Volume in Tons, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Market Segments Covered | Product Type, Application, End Use Industry, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia and the Pacific; Middle East and Africa; India |
| Key Countries Covered | United States, Canada, Mexico, Brazil, China, Japan, South Korea, Indonesia, Malaysia, Germany, France, Italy, Spain, BENELUX, United Kingdom, Russia, The Gulf Cooperation Council Countries, Türkiye, South Africa |
| Key Companies Profiled | BASF SE; Exxon Mobil Corporation; Evonik Industries AG; Eastman Chemical Company; Lanxess AG; Hanwha Group; Sasol Ltd.; Hallstar; Aarti Industries; New Japan Chemical Co., Ltd.; Bluesail Group; Henan Qing'an Chemical Hi-Tech Co.,Ltd; Polynt S.p.A.; Aekyung Chemical Co. Ltd.; UPC Technology Corporation; KLJ Group; Shandong Hongxin Chemicals Co., Ltd.; LG Chem; Perstorp Holding AB |
The growth potential of this market is 4.8% through 2033
North America is projected to emerge as a lucrative market.
The rise in non-phthalate plasticizer use in auto & construction limits the market.
The United States generated 15% revenue in 2022.
Thriving demand for polyvinyl chloride (PVC) is expected to drive sales.
| Market Size (2023) | USD 141.1 Million |
|---|---|
| Market Size (2033) | USD 175.4 Million |
| Value CAGR (2023 to 2033) | 2.2% |
| Market Size (2022) | USD 6.08 Billion |
|---|---|
| Market Size (2032) | USD 8.49 Billion |
| Market CAGR (2022 to 2032) | 3.4% |
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Phthalate and Non-Phthalate Plasticizers Market
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