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Plasticizers Market to Garner $22.0 Billion, Globally, By 2030 at 4.1% CAGR, Says Allied Market Research
Increase in demand for flexible PVC, growing use of HMW phthalates & non-phthalates, and developments in the packaging industry drive the growth of the global plasticizers market. On the other hand, toxicity of PVC and stringent government regulations on phthalates restrain the growth to some extent. However, ongoing research on bio-based plasticizers and surge in demand for automotive across the globe are expected to create lucrative opportunities in the industry.
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Based on type, the phthalates segment accounted for more than half of the global plasticizers market share in 2020, and is anticipated to rule the roost by 2030. This is owing to their high-performance properties such as strong solvent, low transition temperature, low volatility, low diffusion, stability, and flame retardance. The epoxides segment, however, would cite the fastest CAGR of 4.5% throughout the forecast period.
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Based on application, the wires and cables segment held around one-fifth of the global plasticizers market revenue in 2020, and is expected to lead the trail by 2030. Growing adoption of electronic devices in the developing countries fuels the growth of the segment. The flooring & walls segment, on the other hand, would manifest the fastest CAGR of 4.6% from 2020 to 2030.
Based on region, Asia-Pacific , followed by Europe and North America , held the major share in 2020, generating more than three-fifths of the global plasticizers market. The same region would also grow at the fastest CAGR of 4.7% by 2030. This is attributed to the fact that China is the leading country in terms of demand and commercialization of plasticizers.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon . Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar , the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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