Development in Construction Sector Boosts Plasticizers Market

The plasticizers market is estimated to touch USD 17.1 billion in 2023, and it will reach USD 24.7 million, growing at a 5.6% compound annual growth rate, by 2030.

The growth of this industry is primarily attributed to the significant development in the construction sector across the globe, where the usage of flexible polymers including PVC is high.


Moreover, the rising acceptance of non-phthalates increases the requirement for such materials in the packaging sector. The growing usage of polymers in various consumer goods is also driving the industry.


The phthalates category, on the basis of product, will be the largest contributor to the industry in 2023, and it will remain the largest throughout this decade. This will be because of the high presentation properties of phthalates like low volatility, strong solvent, and low transition temperature.


Moreover, phthalates are the most often used type of plasticizer across various sectors and are inexpensive. Furthermore, phthalates are usually utilized by medium small businesses as they are an inexpensive choice. To attain plasticity in plastic products, phthalates improve transparency durability and are worked together with PVC materials.


The non-phthalates category, on the other hand, will advance at the fastest rate in the year to come. This will be because of their prominent result features and are employed as a substitute for phthalate plasticizers, because of their benefits including durability, eco-friendliness, and flexibility.


The wires cables category, based on end use, is leading the plasticizers market, and it will remain leading during this decade. This can be because of the growing need for electrical appliances across various nations and the increasing utilization of wires cables in electrical and electronics, construction, and automotive sectors.


Moreover, the production of wires cables needs the utilization of a large volume of PVC to offer more insulation and protection.


The films sheets category, on the other hand, will observe the fastest growth during this decade. This is because of the rising need for packed food beverages, which are covered by plasticizer-based sheets and films, and the surging utilization of protective coatings for other goods.


APAC is dominating the industry, and it is likely to generate USD 8.5 billion, in 2023. Moreover, the region will also advance at a significant rate during this decade. This can be attributed to the existence of numerous growing end-use sectors in Indonesia, India, Japan, China, South Korea, and Australia.


Moreover, the growing demand for electrical electronic components and the increasing usage of such chemicals in the packaging and construction sectors is also boosting the regional industry.


It is because of the constantly growing construction sector; the plasticizers industry will continue to progress in the years to come.


Pramod Kumar

6 KWAVE Magazine posts