The demand for plasticizers is growing due to their versatile properties for many different polymers especially in PVC by automotive and construction sector which is likely to bolster the global plasticizers market in upcoming years. Plasticizers are highly operative in various sectors such as automotive, electronic, coatings, floorings and others. Being one of the most widely researched chemicals in the world and a key commodity of various end use industries, the demand for plasticizers for better durability and flexibility of polymers is always at peak.
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The demand for plasticizers from various sectors including paint, coatings, automotive, construction, agriculture and others is likely to propel the growth of the plasticizers market worldwide. Global plasticizers market has shown considerable growth in the historic period and is anticipated to achieve a healthy CAGR of 5.8% during the forecast period. Plasticizers are basically added in different polymers just to enhance their flexibility, stretchability, and durability. When plasticizers are added to Polymers, they decrease the Glass Transition Temperature (Tg) and viscosity of polymers while making the film coating more suitable. Plasticizers on combining with plastic, tends to strengthen the Thermoplasticity and boosts the fabrication quality. Polymers that consist of plasticizers would become highly dependent on the end use industries for manufacturing films & sheet material as it exhibits compatibility and good barrier characteristics such as weather resistance and extreme heat stability. The largest market share is held by the production of Polyvinyl Chloride (PVC) by phthalate plasticizers driven by automotive and construction industries. Plasticizers play a huge part as a key feedstock chemical widely used in industrial, technical and commercial applications including water pipelines, drainage pipes, PVC films, paint, footwear, coatings, automobile interior, flooring and wall coverings and others. The plasticizers industry has started focusing on plasticizers that are bio-based and renewable which can be a safe alternative for the ecological footprint. Due to surge in the demand of PVC by construction, automotive, electronics and other sectors, it is expected to witness a boost in the plasticizers market worldwide. Phthalate and Diethylhexyl Phthalate (DEHP) plasticizers are classified as potent carcinogens as per the report of International Agency for Research on Cancer (IARC). Moreover, plasticizers are considered as a potential cause for cancer thus, ban on the use of plasticizers in toys was implemented in 2020.
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