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One thing that is becoming apparent in the broader chemical industry is that Polymeric Plasticizer Market is highly dynamic and continuously changing. These chemicals play important roles in terms of adjusting flexibility, strength as well as other physical characteristics necessary in different types of plastics made today. There are several dynamics associated with this sector which determine its growth, demand structure and competitiveness among others.
The polymeric plasticizer industry is driven by the growing demand for lightweight and flexible materials in various industries such as automotive. The automotive industry particularly relies on these materials to make interior trims, door panels, and dashboards more flexible. This requirement has been influenced by the ongoing push towards light weight vehicles which are necessitated due to fuel economy and emission control among other issues. Therefore, there is a continuous search in the market for new plasticizers that can meet the modern high performance requirements of automobile usage.
Polymeric plasticizers’ market dynamics are also significantly influenced by the construction sector. The adoption of polymeric plasticizers is motivated by the need for flexible and durable construction materials made from PVC. Consequently, this helps to achieve desired workability and flexibility of building materials hence resulting into long lasting resilient structures. With sustained growth rate in emerging economies characterizing global construction industry; the market for polymeric plasticizers has potential for further expansion.
The underlying complexity of this market emanates from its global nature. This therefore affects how raw material prices fluctuate, geopolitics as well as trade policies making it difficult to predict future trends within this market. Similarly, geopolitical tensions and supply chain disruptions can make companies’ decisions challenging.
Polymeric Plasticizer Market Highlights:
Polymeric Plasticizer Market Overview
According to MRFR Analysis, the polymeric plasticizer market was valued at USD 1.93 million in 2018 and is expected to grow at a CAGR of 4.10% during the forecast period.
Polymeric Plasticizer Market Regional Analysis
The global polymeric plasticizer market has been analyzed with respect to five regions, namely, Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.
Asia-Pacific dominated the global polymeric plasticizer market with a share of over 40% in 2018 and is expected to follow a similar trend during the forecast period. The building and construction industry was the largest consumer of polymeric adipate plasticizers in Europe in 2018 due to the widespread use of products such as adhesives and sealants, paints and coatings, films and sheets, rubber, wires and cables, and furniture upholstery wherein polymeric plasticizers are used. Thus, increasing building & construction activities (residential and non-residential) in the region is the primary factor that drives the polymeric plasticizers market in the region. Among Asia-Pacific countries, China, and India together accounted for over 60% share for the polymeric plasticizers.
North America was the second largest market for polymeric plasticizer in 2018. The US has substantial automotive production wherein adhesives and sealants, paints and coatings, wires and cables and rubbers are used, which is fueling the growth of the polymeric plasticizer market in the region. Additionally, growing electrical & electronics industry in the US is expected to boost the demand for polymeric plasticizers in the region further.
Europe accounted for the third most significant market share in 2018. The packaging is the primary end-use industry in the European polymeric plasticizers market due to the increasing demand for packaging materials for wrapping applications in the consumer and other industries. Furthermore, the growing E-commerce industry is also contributing to the growth of the packaging industry in the region. Polymeric plasticizers are used in packaging to make it flexible.
The markets in Latin America and the Middle East & Africa is also likely to witness positive growth during the forecast period.
Key Players
Some of the prominent players in the global polymeric plasticizer market are BASF SE (Germany), DowDuPont, Inc. (US), Eastman Chemical Company (US), LANXESS (Germany), and Resymat Mexico (Mexico).
Market Synopsis
Polymeric plasticizers are a class of plasticizers that offer excellent migration, volatility, fluid chemical extraction, and weathering resistance in high-performance applications as compared to monomeric plasticizers. They are polyesters of aliphatic dicarboxylic acids and have a molecular weight of more than 500. They are formed by the reaction between difunctional acids (usually adipic acid, sebacic acid, and others) and ethyl glycol or propylene glycol.One of the factors that drive the global polymeric plasticizers market is, the growing use of these polymeric plasticizers in the wire and cables. The outer coverings of wires and cables are made of polymers such as polyvinyl chloride (PVC), nylon, polyethylene (PE), polypropylene (PP), thermoplastic polyurethane (TPU), and thermoplastic elastomers (TPE) for insulation and jacketing purposes. Polymeric plasticizers increase the flexibility of these polymers, which is essential for covering electrical wires and cables. Another factor that drives the global market is the increasing use of polymeric plasticizers in the adhesives and sealants. Adhesives and sealants are formulated by mixing the base material with fillers, pigments, stabilizers, plasticizers, and other additives. Plasticizers are an essential component of adhesives and sealants. They are used as a solvent to improve the performance of adhesives and sealants by creating the desired elasticity, optimizing viscosity, and offering low-temperature efficiency, impact-resistance, and set-time functionality. The widespread use of adhesives and sealants in end-use industries such as packaging, building and construction, automotive, laminates, footwear, and healthcare is expected to boost the growth of the global polymeric plasticizers market during the forecast period.
However, the stringent regulations on the use of polymeric plasticizers in packaging, toys, and consumer goods are likely to limit the global market growth during the assessment period.
Global Polymeric Plasticizer Market Share, by Application (2018)
Source: MRFR Analysis
Market Segmentation
The global polymeric plasticizer market has been segmented based on applications, end use, and region.
Based on application, the market has been classified as adhesives & sealants, paints & coating, films & sheets, rubber, wires & cables, furniture upholstery, and others.
On the basis of end-use industry, the market has been divided into packaging, building & construction, automotive, electrical & electronics, and others.
Intended Audience
- Polymeric plasticizer manufacturers
- Traders and distributors of polymeric plasticizer
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratories
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