The global plasticizers market attained a value of $13,967.9 million in 2018 and is predicted to generate a revenue of $16,700.6 million by 2024. According to the forecast of P&S Intelligence, a market research firm based in India, the market would progress at a CAGR of 3.5% between 2019 and 2024. The mushrooming construction activities in several countries and the burgeoning requirement for polyvinyl chloride (PVC) in the electronics and electrical industry are the main growth drivers of the market. 

The boom of the construction industry is a major factor fueling the progress of the plasticizers market across the globe. This is because a large volume of construction tools and materials are made from PVCs, that require various plasticizers such as DBP, DOTP, DINP, and DOP for softness. Moreover, PVC materials are widely used in construction activities, on account of their beneficial traits such as excellent resistance to ultraviolet (UV) light and temperature. 

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Plasticizers are used as raw materials in the production of various construction materials such as tubes and pipes, building interiors, and roof and wall insulation. Additionally, these materials are used in construction materials that are used for flooring, roofing, cladding, and various other applications. Hence, with the increasing number of construction activities in several countries such as India, Brazil, and China, on account of the rising urbanization rate, the demand for plasticizers would grow enormously in the coming years.

This would, in turn, push up the sales of these materials around the world. Depending on product, the plasticizers market is classified into phthalates and non-phthalates. Between these, the phthalate category registered higher growth in the market in the past years. This was because of the extensive utilization of phthalate plasticizers in the production of several products such as plastics required in the healthcare industry, coatings, emulsifying agents, and anti-viscosity agents. 

When application is taken into consideration, the plasticizers market is divided into wires & cables, flooring, roofing, and cladding, films & sheets, medical equipment, automotive parts, and toys & child care products. Out of these, the wires & cables category recorded the highest growth in the market in the years gone by. This was because of the heavy usage of wires & cables, that require flexible PVC for insulation and protection. 

Globally, the plasticizers market recorded the highest growth in the Asia-Pacific (APAC) region in the past years and this trend is likely to continue in the upcoming years as well. This is credited to the ballooning construction and production activities in the manufacturing, healthcare, and chemicals industries and increasing urban infrastructural development activities in various countries such as Indonesia, China, India, and several Southeast Asian nations. Plasticizers are extensively used in all these industries for producing flexible PVC.

Hence, it is quite clear from the above paragraphs that the market would exhibit substantial advancement across the world in the years to come, mainly because of the increasing construction and infrastructural development activities in various countries around the world.

The increasing number of infrastructural development and construction projects being launched in several countries is propelling the sales of plasticizers. This is because of most of the majorly used building tools and materials are made from polyvinyl chloride (PVC), which requires plasticizers such as DBP, DOTP, DINP, and DOP for softness. Moreover, the PVC products are widely used in construction activities, on account of their various beneficial traits such as high resistance to ultraviolet (UV) light and temperature.  

Because of the aforementioned factors, the rapid growth of the construction industry is positively impacting the global sales of plasticizers. Apart from various infrastructural development activities and industrialization, the increasing urbanization, especially in the developing nations such as India, Brazil, and China is also pushing up the demand for plasticizers. These materials are heavily required in the construction of residential buildings as they are extensively used for producing the materials required for flooring, roofing, and cladding. 

Apart from the construction industry, the ballooning requirement for PVC in the electronics and electrical industry is also fueling the surge in the demand for plasticizers across the globe. As per many reports, more than 90.0% of the plasticizers produced around the world, particularly phthalates, are used for making PVC. As plasticizers have the ability to smoothen or provide flexibility to the end products, they are increasingly being used in the automotive and chemical industries.

Due to the burgeoning requirement for PVCs in several industries, the sales of plasticizers are rising rapidly, which is, in turn, fueling the expansion of the global plasticizers market. According to the estimates of P&S Intelligence, a market research company based in India, the valuation of the market would rise from $13,967.9 million to $16,700.6 million from 2018 to 2024. Additionally, the company predicts that the market would exhibit a CAGR of 3.5% from 2019 to 2024.

Phthalate and non-phthalate are the two main types of plasticizers used around the world. Between these, the sales of non-phthalate plasticizers will rise at a faster rate over the next few years, mainly because of the toxicological profile of a few phthalate plasticizers. Due to the numerous health concerns associated with the usage of phthalate plasticizers, many developed nations have banned the utilization of these plasticizers, particularly in the products used by children below the age of 3 years. 

Globally, the plasticizers market recorded the highest growth in the Asia-Pacific (APAC) region in the past few years. This is credited to the extensive utilization of plasticizers in the region in the years gone by due to the presence of flourishing automotive, electrical and electronics, construction, and chemicals industries in the regional countries. Moreover, the predicted boom of these industries in the future years will massively boost the demand for plasticizers in the region in the coming years. 

Hence, it can be said without any hesitation that the sales of plasticizers would surge all over the world in the forthcoming years, mainly because of the growing requirement for PVCs in the construction, electrical and electronics, and automotive industries. 

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