Top 7 Leading Companies Accelerating the Development of the Global Plasticisers Market

BASF SE, Arkema Group, Evonik Industries AG, Exxon Mobil Corporation, Eastman Chemical Company, LG Chem, and Ineos AG, among others, are the significant players in the global market for plasticisers.

As per the analysis by Expert Market Research, the global plasticisers market is expected to grow at a CAGR of 3.5% in the forecast period of 2023-2028, owing to the rise in bio-based plasticisers.

Plasticisers are chemicals added to another material, such as plastic, to make it more pliable, resilient, and easy to work. They are available in different types and are commercially used. Also, bio-based plasticisers may enrich clays, concrete, and other similar goods. Bio-based plasticisers have fuelled the development of the plasticisers market. Vegetable raw resources are utilised to create a bio-based alternative for petroleum-based plasticisers.

The need for non-phthalate-based plasticisers from end-users is further bolstering the growth of the industry. Due to the increasing public knowledge about the toxic effects of plasticisers, producers have created eco-friendly bio-based plasticisers to replace the harmful ones. They are used in both food packaging and medicinal product packaging. Thus, bio-based plasticisers are anticipated to spur the development of plasticisers in the long term.

In May 2021, Arkema, with the planned acquisition of Agiplast, a market leader in the regeneration of high-performance polymers, particularly speciality polyamides and fluoropolymers, will provide a comprehensive material circularity service to customers, thus meeting the growing market expectations. This initiative, which helps the polymer industry's sustainable development, is ideally aligned with Arkema's sustainable growth strategy. These investments are contributing to the development of plasticisers market.

North America is a significant market for plasticisers on a global scale. This can be ascribed to the product's expanding use in emerging sectors like packaging, healthcare, and the chemical industry. Since the manufacturing and healthcare sectors are both experiencing steady expansion in Europe, the region has long been a market for plasticisers. Further, the Asia Pacific region is also thriving due to shifting lifestyles, rising disposable incomes, and rapid urbanisation.

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Top 7 Global Plasticisers Companies:

BASF SE

BASF SE is a German multinational business and is one of the largest chemical producers in the world. The BASF Group operates 390 minor manufacturing facilities, six integrated production facilities, and joint ventures in more than 80 nations. Chemicals, polymers, crop protection products, and performance goods are produced, marketed, and sold by this company. Plasticisers from BASF are available in a variety of types for both common and specialised uses, including toys and medical equipment.

Arkema Group

Arkema is a leader in speciality materials and operates via three divisions: Industrial Chemicals, Coating Solutions, and Performance Products. The company creates intermediates that are necessary for industrial facility operation and manufacturing operations.

Evonik Industries AG

Evonik Industries AG is a German speciality chemicals business based in Essen, Germany. It is one of the world's major speciality chemical businesses. The six business units in the chemicals industry fall under the operational activities division. In November 2021, Evonik intended to introduce new plasticiser products based on the INA (isononanol) raw material. The Group's global plasticiser business will grow as a result. Plasticisers are used in particular for flexible PVC products like flooring, cables, and roofing membranes.

Exxon Mobil Corporation

Multinational oil and gas corporation Exxon Mobil Corporation has its headquarters in Irving, Texas. ExxonMobil, one of the biggest publicly traded energy and chemical businesses in the world, creates and implements cutting-edge technology to support supplying the world's growing need for energy and high-quality chemical products in a safe and responsible manner.

Eastman Chemical Company

Eastman Chemical Company is a Fortune 500 company based in the United States. It is mainly engaged in the chemical sector. Eastman collaborates with clients to deliver cutting-edge goods and services while upholding a commitment to sustainability and safety. The company's innovation-driven growth plan takes use of its dominant positions in profitable end-markets including transportation, building and construction, and consumables, with the aid of top-tier technological platforms, intense client engagement, and innovative application development.

LG Chem

LG Chem Ltd, sometimes known as LG Chemical, is one of the biggest chemical companies. As a result of separating the consumer goods segment into LG Household & Health Care, the firm is now exclusively a business-to-business organisation. A chemical firm with roots in petrochemicals, innovative materials, and biotechnology, LG Chem is internationally diversified.

Ineos AG

Ineos Group Ltd is a British multinational chemicals company based in London, England. The company manufactures petrochemicals, specialty chemicals, and oil products on a global scale along with a number of consumer brands. One of the top manufacturers of oxygenated solvents in Europe is INEOS Solvents. About 850 personnel across offices in Germany and Scotland create plasticisers, fine chemicals, and BDO & derivatives in addition to solvents for usage by clients in the global chemical industry.

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