NEW
YORK, Sept. 11, 2024 /PRNewswire/ -- Report with
the AI impact on market trends- The global phthalate
plasticizer market size is estimated to grow by USD 4.10 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of 5.19%
during the forecast period. Low cost of production of phthalate
plasticizers is driving market growth, with a trend
towards growing urbanization and infrastructure development.
However, imposition of strict regulations on usage of
phthalate plasticizers poses a challenge. Key market players
include ABC Chemical Co Ltd, ADEKA Corp., Aroma Organics Ltd., BASF
SE, Eastman Chemical Co., Ennore India Chemical International,
Evonik Industries AG, Exxon Mobil Corp., Grupa Azoty SA, India
Glycols Ltd., KH Neochem Co. Ltd., KLJ Group, Labdhi Chemicals, Nan
Ya Plastic Corp., Nayakem, New Japan Chemical Co. Ltd, Polynt SpA,
Supreme Plasticizers, Tandon Solvents and Chemicals, and Valtris
Specialty Chemicals.
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Product
(Di-2-ethylhexyl phthalate (DEHP), Diisononyl phthalate (DINP),
Diisodecyl phthalate (DIDP), and Others), Application (Building and
construction, Automotive, Chemical, Medical devices, and Others),
and Geography (APAC, North America, Europe, South America, and
Middle East and Africa)
|
Region
Covered
|
APAC, North America,
Europe, South America, and Middle East and Africa
|
Key companies
profiled
|
ABC Chemical Co Ltd,
ADEKA Corp., Aroma Organics Ltd., BASF SE, Eastman Chemical Co.,
Ennore India Chemical International, Evonik Industries AG, Exxon
Mobil Corp., Grupa Azoty SA, India Glycols Ltd., KH Neochem Co.
Ltd., KLJ Group, Labdhi Chemicals, Nan Ya Plastic Corp., Nayakem,
New Japan Chemical Co. Ltd, Polynt SpA, Supreme Plasticizers,
Tandon Solvents and Chemicals, and Valtris Specialty
Chemicals
|
Key Market Trends Fueling Growth
The global phthalate plasticizer market is experiencing growth
due to the increasing urbanization and infrastructure development
worldwide. With the growing population in cities, there is a rising
demand for infrastructure facilities such as buildings, roads,
bridges, and transit networks. Phthalate plasticizers, particularly
dioctyl phthalate (DOP) and diisonyl phthalate (DINP), play a
crucial role in enhancing the flexibility and durability of PVC
products used in construction processes. In countries like
India and China, where there are numerous construction
and infrastructure projects underway, the demand for phthalate
plasticizers is significant. For instance, the ongoing projects in
India, such as the Navi Mumbai
International Airport, the Chenab River Railway Bridge, and the
Delhi-Mumbai Industrial Corridor, will increase the consumption of
phthalate plasticizers. Therefore, the growing infrastructure
development and regulatory requirements for emission controls in
building processes will fuel the market growth during the forecast
period.
Phthalate plasticizers continue to be in high demand due to
their use in diverse industries such as electrical insulation
materials, foam cushions, and automotive parts. The market is
driven by trends like fire resistance in sealants and adhesives,
lightweight vehicles, and energy-efficient buildings. However,
environmental regulations and health hazards associated with
phthalates are pushing the market towards sustainable alternatives
like bio-based plasticizers and eco-friendly renewable sources. Key
industries include PVC, wires, construction materials, and
automotive parts. Phthalates offer flexibility and durability,
making them essential for various applications. But, volatile
prices and environmental concerns necessitate hedging strategies
and the exploration of non-phthalate plasticizers. Markets like
skincare, fragrances, hair care, and personal care are also
adopting eco-friendly plasticizers for waterproofing and mechanical
strength. Phthalate plasticizer types offer thermal stability and
performance, but the shift towards renewable materials and
eco-conscious consumers is driving innovation in the market. The
future of the phthalate plasticizer market lies in sustainable
products and reducing carbon footprint. Companies are investing in
research and development to create stable, high-performing, and
eco-friendly alternatives. The industry is expected to grow,
offering opportunities for businesses to thrive in this evolving
landscape.
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Market Challenges
- The phthalate plasticizer market faces challenges due to
health and environmental concerns. Phthalates are used extensively
in plastics production, packaging, and delivery for various
consumer goods. However, these plasticizers are toxic and can lead
to endocrine disruptions and organ dysfunction, particularly
affecting pregnancy, child growth, and development, and
reproductive systems. Strict regulations, such as those imposed by
the US Consumer Product Safety Commission (CPSC), limit the usage
of certain phthalate plasticizers, like DEHP, DBP, and BBP, in toys
and other children's products. The CPCS's Chronic Hazard Advisory
Panel studies phthalates' negative effects on children. The US Food
and Drug Administration (FDA) also approves only eight types of
phthalates for food contact applications. Regulations aim to ensure
safety, sustainability, and environmental protection but create
compliance difficulties for market players. Phthalates' harmful
effects on human health and the environment have led to social
campaigns against their use. These factors will hinder the growth
of the phthalate plasticizer market during the forecast
period.
- The Phthalate Plasticizer market faces several challenges
in various industries. Durability is a key concern in construction
materials and automotive parts, where stability and performance are
essential. Industrialization drives up demand for plasticizers,
particularly in consumer goods like wires and cables. However,
environmental protection and health hazards associated with
phthalates are growing concerns. Eco-conscious consumers prefer
sustainable products, leading to a shift towards bioplastics,
renewable materials, and eco-friendly plasticizers. Volatile prices
and the need for hedging strategies add complexity to the market.
In personal care applications, phthalates are used in skincare,
fragrances, and hair care, but non-phthalate plasticizers offer
safer alternatives. Sustainability is a priority in sectors like
flooring, waterproofing, and mechanical strength applications.
Phthalate plasticizers offer thermal stability, but non-phthalate
plasticizers like renewable-based polyol esters have lower carbon
footprints. The plasticizer type used depends on the specific
application and regulatory requirements. Overall, the market must
balance performance, sustainability, and consumer safety.
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Segment Overview
This phthalate plasticizer market report extensively covers
market segmentation by
- Product
- 1.1 Di-2-ethylhexyl phthalate (DEHP)
- 1.2 Diisononyl phthalate (DINP)
- 1.3 Diisodecyl phthalate (DIDP)
- 1.4 Others
- Application
- 2.1 Building and construction
- 2.2 Automotive
- 2.3 Chemical
- 2.4 Medical devices
- 2.5 Others
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Di-2-ethylhexyl phthalate (DEHP)- The Phthalate
Plasticizer Market refers to the business sector involving the
production, sale, and use of phthalates, a group of chemicals added
to plastics to increase their flexibility. Companies manufacture
and supply these plasticizers to various industries, including
automotive, construction, and consumer goods. Demand for phthalate
plasticizers is driven by the growth of these industries and
increasing consumer preferences for flexible plastics. Market size
and growth rate depend on factors such as regulations, raw material
prices, and competition.
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and future opportunities- including forecast (2024-2028) and
historic data (2018 - 2022)
Research Analysis
The Phthalate Plasticizer market is experiencing a demand in
various industries due to their diverse applications. These
plasticizers play a crucial role in enhancing the flexibility and
durability of PVC and other polymers, making them essential in
electrical insulation materials, foam cushions, sealants,
adhesives, and automotive parts. The market is also witnessing an
increasing trend towards eco-friendly and renewable sources, with
bio-based plasticizers gaining popularity. Environmental
regulations are driving the demand for sustainable products,
leading to the exploration of renewable sources and carbon
footprint reduction. However, health hazards associated with
phthalates and volatile prices, geopolitical tensions, and hedging
strategies pose challenges to the market growth. The market is
expected to continue its expansion in lightweight vehicles, fire
resistance, and sustainable packaging applications.
Market Research Overview
The Phthalate Plasticizer market is experiencing a demand in
diverse industries due to their use in various applications. These
include electrical insulation materials, foam cushions, and fire
resistance materials in construction, automotive parts, and
industrialization. Phthalate plasticizers offer flexibility and
durability, making them ideal for use in sealants, adhesives, and
wires. Moreover, the shift towards energy-efficient buildings and
lightweight vehicles is driving the demand for phthalate
plasticizers. However, environmental regulations and health hazards
associated with phthalates are leading to the exploration of
eco-friendly alternatives, such as bio-based plasticizers and
renewable sources. Phthalate plasticizers provide stability and
performance in PVC and other materials. Non-phthalate plasticizers,
such as renewable-based polyol esters, offer similar benefits while
being eco-friendly and biodegradable. These plasticizers are
finding applications in various sectors, including consumer goods,
medical, toys, and sustainable packaging. The personal care market,
including skincare, fragrances, and hair care, is also exploring
the use of eco-friendly plasticizers for waterproofing and
mechanical strength. Thermal stability and different plasticizer
types, such as phthalate and non-phthalate, are crucial factors in
selecting the right plasticizer for various applications. The
volatility of phthalate plasticizer prices and the need for
sustainability have led to hedging strategies and the exploration
of sustainable products and renewable materials. The market is
expected to continue growing, driven by the increasing demand for
plasticizers and the need for eco-conscious solutions.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Di-2-ethylhexyl Phthalate (DEHP)
- Diisononyl Phthalate (DINP)
- Diisodecyl Phthalate (DIDP)
- Others
- Application
-
- Building And Construction
- Automotive
- Chemical
- Medical Devices
- Others
- Geography
-
- APAC
- North America
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio