Enjoy complimentary customisation on priority with our Enterprise License!
The plasticizer alcohols market size is forecast to increase by USD 4.50 billion at a CAGR of 9.19% between 2023 and 2028. The market is experiencing significant growth due to several key factors. Firstly, the rapid economic expansion in emerging regions is driving demand for plastics and polyvinyl chloride (PVC) in various end-use industries, including construction, automotive, and packaging. Adipates, a type of plasticizer alcohol, are extensively used in the production of flexible PVC, particularly in the construction and healthcare sectors. The market is also witnessing a shift towards sustainable alternatives and eco-friendly substitutes, driven by growing environmental concerns. Sustainable sourcing of raw materials, such as bio-based plasticizers derived from renewable resources, is gaining popularity. As the demand for sustainable and eco-friendly solutions continues to rise, the market is expected to witness continued growth.
Moreover, key players in the market are focusing on innovation and product development to meet the evolving needs of consumers and regulatory bodies.
Plasticizer alcohols, a vital category of chemical intermediates, play a significant role in enhancing the flexibility, durability, and processability of polymers and elastomers. These alcohols, including 2-ethyl hexanol, n-butanol, isobutanol, and their esters such as acetate esters, trimellitates, and adipates, function as plasticizers in various applications, particularly in flexible PVC and flexible plastics. Plasticizer alcohols are essential solvents in the production of consumer goods, medical devices, and eco-friendly plasticizers. Their consumption rate has been increasing due to the growing demand for non-phthalate plasticizers and the shift towards bio-based plasticizers to address health and environmental concerns.
In addition, the boiling points of plasticizer alcohols vary, with n-butanol having a lower boiling point of 117.7°C and 2-ethyl hexanol having a higher boiling point of 198.4°C. These differences influence their applications and processing requirements. Plasticizer alcohols contribute to the flexibility and durability of polymers and elastomers. In the context of flexible PVC, plasticizer alcohols improve the plastic's flexibility and resistance to heat, cold, and aging. In the production of flexible plastics, these alcohols enhance the processability of the material, enabling manufacturers to produce high-quality, consistent products. The market is driven by the growing demand for flexible plastics in various industries, including automotive, construction, packaging, and consumer goods.
Additionally, the increasing popularity of electric vehicles and the subsequent demand for lightweight, durable materials are expected to further boost the market's growth. However, health and environmental concerns associated with plasticizers, particularly phthalates, have led to the development and adoption of alternative plasticizers, such as alcohol-based compounds. These eco-friendly alternatives offer improved safety profiles and reduced environmental impact, making them increasingly popular in various applications. In conclusion, the market is expected to witness steady growth due to the increasing demand for flexible plastics, the shift towards eco-friendly alternatives, and the growing concerns regarding the health and environmental impacts of traditional plasticizers. Furthermore, producers of plasticizer alcohols must remain agile and innovative to meet the evolving demands of the market and maintain their competitive edge.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The 2-ethylhexanol segment is estimated to witness significant growth during the forecast period.The 2-Ethylhexanol market experiences significant growth due to its essential function as a chemical intermediate in producing high-performance plasticizers, primarily in the automotive and construction sectors. This trend is primarily driven by 2-Ethylhexanol's versatility as a chemical intermediate, which plays a crucial role in producing high-performance plasticizers, particularly in the automotive and construction industries. This demand arises from its ability to replace traditional plasticizers, which face increasing regulatory oversight. As a preferred alternative, 2-Ethylhexanol is employed in the manufacture of phthalate-free plasticizers. Furthermore, its application in the creation of solvents, coatings, and surfactants broadens its market appeal. Moreover, the boiling point of 2-Ethylhexanol makes it an effective solvent, contributing to its use in various applications, including coatings, solvents, and surfactants. The shift towards sustainable and eco-friendly materials has intensified the demand for 2-Ethylhexanol, as it can be derived from renewable resources such as waste streams, biomass, and vegetable oils. Enzymatic and catalytic processes are increasingly being utilized for its production, with automation and process engineering playing a crucial role.
In addition, the continuous focus on performance, safety, and environmental concerns is anticipated to maintain the strong demand for 2-Ethylhexanol, contributing to the expansion of The market.
Get a glance at the market share of various segments Request Free Sample
The 2-Ethylhexanol segment accounted for USD 2.69 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
For more insights on the market share of various regions Request Free Sample
The market is experiencing significant growth due to the increasing construction activity and expanding vehicle production in countries such as China, India, and Vietnam. The rapid economic development, industrialization, and urbanization in the Asia Pacific (APAC) region, particularly in emerging markets, are fueling the overall consumption of plastics and the demand for plasticizer alcohols. The automotive industry's shift towards lightweight materials and electric vehicles is driving the demand for eco-friendly plasticizers, such as non-phthalates, including Dioctyl terephthalate. In response, process engineering and automation have become essential to enhance production efficiency and reduce costs. These alcohols, including 2-ethyl hexanol, n-butanol, isobutanol, and isononyl alcohol, are crucial as chemical intermediates and solvents in the production of acetate esters and other polymers, such as polyvinyl chloride (PVC). India is among the fastest-growing markets for plasticizer alcohols, driven by the expansion of end-use industries like automotive, construction, and consumer goods.
For instance, the construction sector in India, which accounts for nearly 9% of the country's GDP, is a significant consumer of plasticizer alcohols. As countries in the APAC region expand their manufacturing capabilities and infrastructure, there is a corresponding increase in the demand for plasticizers, which are essential for enhancing the flexibility and durability of plastics.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Rapid economic expansion in emerging regions is the key driver of the market. The market is witnessing notable expansion due to the thriving economic conditions in developing regions, primarily in Asia-Pacific, Latin America, and certain African countries. The construction, infrastructure, and manufacturing industries, which are significant consumers of plasticized products, are experiencing a boom in these regions. With many businesses seeking to relocate manufacturing operations beyond China, countries like Mexico, Vietnam, and India are poised to capture a larger share of US imports. India, in particular, has emerged as a significant emerging market, boasting an average growth rate of around 7% over the last decade. Sustainability and environmental friendliness are increasingly important considerations in the market.
In addition, research activities are underway to develop production methods with higher efficiency and lower emissions. Alcohol-based disinfectant compounds are increasingly being explored as eco-friendly substitutes due to their high performance and lower environmental impact. The coatings industry is also exploring the use of plasticizer alcohols in high-performance fuels to reduce greenhouse gas emissions. In the context of stricter emission norms, the demand for eco-friendly plasticizer alcohols is expected to rise. As a result, companies are investing in research and development to meet the evolving market requirements.
Increasing demand for flexible PVC is the upcoming trend in the market. Flexible Polyvinyl Chloride (PVC), recognized for its versatility, durability, and cost-effectiveness, maintains a significant market presence across numerous industries. The construction sector is a major contributor, utilizing flexible PVC in applications such as cable insulation, flooring, and weatherproof membranes. In the automotive industry, flexible PVC is increasingly adopted for interior components and wire harnesses due to its lightweight properties and customizable formulations. The healthcare sector benefits from the material's resistance to chemicals and ease of sterilization, making it popular for medical tubing, blood bags, and other critical devices. The packaging industry also fuels demand growth, employing flexible PVC in food packaging and protective coverings.
Furthermore, consumer goods, including toys and sporting equipment, further strengthen the market position of flexible PVC. Sustainable alternatives and eco-friendly substitutes, such as bio-based plasticizers derived from renewable resources and sustainable sourcing, are gaining traction in the market to reduce the environmental impact of flexible PVC production. Adipates, a type of plasticizer alcohol, play a crucial role in enhancing the flexibility and workability of PVC.
Regulatory constraints hampering market growth is a key challenge affecting the market growth. The market is experiencing regulatory challenges that are influencing its growth trajectory. With growing concerns over health risks and environmental impacts, governments and regulatory bodies worldwide are imposing stricter regulations on chemical substances, particularly those used in consumer products and food-contact materials. This has resulted in a ban or restriction of certain phthalate-based plasticizers, leading to an industry shift towards specialty plasticizers, such as aliphatics and alcohol-based compounds. However, this transition comes with its own set of challenges. Complying with evolving regulations necessitates substantial investments in research, development, and testing, which can increase production costs and potentially hinder market expansion.
Despite these hurdles, the Plasticizers market continues to play a crucial role in enhancing the flexibility and durability of Polymers and Elastomers. The use of plasticizer alcohols in various applications, including automotive, construction, packaging, and electrical and electronics, underscores their importance in diverse industries.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ADD Chem Germany - The company offers plasticizer alcohols such as DOTP, ESO, and DOA.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Plasticizer alcohols, a vital category of chemical intermediates, play a significant role in enhancing the flexibility and durability of polymers and elastomers. These alcohols, including 2-ethylhexanol, n-butanol, isobutanol, isononyl alcohol, and others, function as solvents in various applications. The consumption rate of plasticizer alcohols is driven by their usage in industries such as automotive, construction, and consumer goods. Acetate esters, phthalates, benzoates, aliphatics, and specialty plasticizers are some of the major types of plasticizers that utilize alcohol-based compounds. Boiling points and production efficiency are essential factors in the production of plasticizer alcohols. Sustainable development and environmental friendliness are key trends in the market, with research activities focusing on emission norms, high-performance fuels, and eco-friendly substitutes.
In addition, bio-based plasticizers derived from renewable resources, such as vegetable oils and biomass, are gaining popularity due to their sustainable sourcing and reduced environmental impact. Waste streams are being explored as potential sources for the production of plasticizer alcohols through enzymatic and catalytic processes. Flexible PVC applications, including construction and healthcare, are major consumers of plasticizer alcohols. The automotive industry also utilizes these chemicals in the production of non-phthalate alternatives for flexible plastics and polyvinyl chloride. Health concerns and environmental considerations are driving the demand for eco-friendly plasticizers. Electric vehicles, lightweight materials, and non-phthalate plasticizers are some of the emerging trends in the market. Process engineering and automation are essential for improving production efficiency and reducing costs.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
217 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 9.19% |
|
Market growth 2024-2028 |
USD 4.5 billion |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
8.36 |
|
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
|
Performing market contribution |
APAC at 41% |
|
Key countries |
China, US, and India |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
ADD Chem Germany, Amines and Plasticizers ltd., Arkema SA, BASF SE, Dow Inc., Eastman Chemical Co., Evonik Industries AG, Exxon Mobil Corp., Gapuma Group, Grupa Azoty SA, INEOS GROUP HOLDINGS S.A., Innospec Inc., KH Neochem Co. Ltd., Lanxess AG, LG Chem Ltd., New Japan Chemical Co. Ltd, Polynt SpA, Roquette Freres SA, Saudi Basic Industries Corp., Shell plc, Supreme Plasticizers, Tecnosintesi S.p.A., and VVF Ltd. |
|
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
|
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Technavio Analysis
3 Market Landscape
4 Market Sizing
5 Historic Market Size
6 Qualitative Analysis
7 Five Forces Analysis
8 Market Segmentation by Product
9 Market Segmentation by End-user
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Get the report (PDF) sent to your email within minutes.
Complimentary full Excel data with your report purchase.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
