The plasticizers market is estimated at USD 12.23 Billion in 2017 and is projected to reach USD 16.15 Billion by 2022, at a CAGR of 5.7% from 2017 to 2022. Rising demand for plasticizers is majorly due to the increasing production of flexible PVC for various applications. Moreover, the growing construction activities are also driving the market.
The report analyzes the key growth strategies adopted by the leading market players between 2013 and 2017. UPC Technology Corporation (Taiwan), Exxon Mobil Corporation (US), Aekyung Petrochemical Co., Ltd (South Korea), BASF SE (Germany), and Nan Ya Plastics Corporation (Taiwan) are the key players operating in the plasticizers market. These companies adopted new product launches, agreements & partnerships, and investments & expansions strategies to strengthen their presence in the plasticizers market.
UPC Technology Corporation leads the plasticizers market and has adopted investments & expansions as its major strategy. The company acquired a plasticizer plant in Gebeng Petrochemical Park, Malaysia from BASF Petronas Chemicals Sdn. Bhd. (BPC). The plant is capable of manufacturing 40,000 metric tons of phthalic anhydride and 100,000 metric tons of plasticizer every year. This move is expected to increase the company's position in the Asia Pacific region. The company focuses on the needs of end consumer segments and a strategic agenda for continuous growth. The company is focusing on financial consolidation, targeting higher returns on capital, and higher profitability.
BASF SE has adopted investments & expansions to grow in the plasticizers market. In July 2017, the company started the production of Dioctyl Terephthalate (DOTP) under the brand name, Palatinol in its Texas facility. This development is expected to enable the company meet the growing demand for non-ortho-phthalate plasticizers in North America. In November 2014, the company doubled the capacity of its non-phthalate plasticizer, Hexamoll DINCH from 100,000 metric tons to 200,000 metric tons at its site in Germany. This development enabled the company to strengthen its supply security worldwide.
Plasticizers Market by Type (Low Plasticizers Market by Type (Phthalates, Non-Phthalates), Application (Flooring & Wall Covering, Wire & Cable, Coated Fabric, Consumer Goods, Film & Sheet), and Region (Asia Pacific, Europe, North America) - Global Forecast to 2022
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