According to estimates, the phthalate and non-phthalate plasticizers market would grow from US$ 14,432.6 million in 2023 to US$ 22,968.9 million in 2033. Through 2033, the market’s total sales are anticipated to grow at a 4.8% CAGR.
The global market will continue to grow as phthalate and non-phthalate plasticizers are quickly embraced by a variety of industries.
The shift towards bio-based plasticizers is emerging as a key trend that will bolster sales during the projection period.
Traditional phthalate plasticizers have been linked to negative health effects and environmental concerns. Hence, non-toxic alternatives that are sustainable and safer for human health & the environment such as non-phthalate plasticizers are coming into spotlight.
Increasing demand for non-phthalate plasticizers from automotive, aerospace, and building & construction industries will boost the market during the forecast period.
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Rising trend of lightweight vehicles and energy-efficient buildings will play a key role in uplifting product demand through 2033. Plasticizers are commonly used to improve the flexibility, durability, and workability of plastics, which are widely used in the automotive and building industries.
The trend towards lightweight vehicles and energy-efficient buildings is driving demand for plasticizers. This is because manufacturers seek to create more flexible, durable, and high-performance materials that can meet the changing needs of these industries.
Increasing adoption of medical devices presents an opportunity for non-phthalate plasticizers. This is because of the potential health risks associated with phthalate plasticizers.
Non-phthalate plasticizers are now being used in a wide range of medical devices, including IV bags, tubing, and other flexible plastic components. These plasticizers offer several advantages, including better compatibility with certain polymers, improved flexibility, and reduced leaching into the surrounding environment.
Key Takeaways from the Market:
- The global phthalate and non-phthalate plasticizers market will reach around US$ 22,968.9 million by 2033
- Global sales of phthalate and non-phthalate plasticizers are projected to rise at 8% through 2033.
- By product type, non-phthalate plasticizers segment is forecast to expand at a CAGR of around 3%.
- Based on application, cables & wires segment is likely to exhibit a CAGR of 5% from 2023 to 2033.
- China phthalate and non-phthalate plasticizers market value is estimated to reach US$ 7,805.8 million by 2033.
- Phthalate and non-phthalate plasticizer demand in India is projected to increase at around 4% CAGR through 2033.
- BASF SE, Exxon Mobil Corporation, Eastman Chemical Company, Lanxess AG, and Evonik Industries AG are the top players, accounting for a share of nearly 20% in the global market.
“Growing demand for non-toxic plasticizers and increasing demand from medical industry are key factors driving growth in this market. Manufacturers are likely to find lucrative opportunities for non-phthalate plasticizers that are sustainable, light-weight, durable and cost-effective. This is because such products would find widespread use across numerous industries like automotive and construction..” says a lead FMI analyst.
Who is Winning?
Leading manufacturers of phthalate and non-phthalate plasticizers
- 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
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Global Phthalate and Non-phthalate Plasticizers Market Segmentation
By Product Type:
- Phthalate Plasticizers
- Non-Phthalate Plasticizers
By Applications:
- Wire and Cables
- Flooring and Wall Coverings
- Coatings
- Films and Sheets
- Consumer and Industrial Goods
- Upholstery
- Medical Products
- Others
By End-use Industry:
- Healthcare
- Aerospace
- Automotive
- Building and Construction
- Food and Beverage
- Electrical and Electronics
- Consumer Goods
- Others
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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