Plasticizers are colorless and odorless types of low-molecular-weight polymers that increase the spacing between crystalline polymer chains to make them more flexible and rigid. According to BlueQuark Research & Consulting, the Global Plasticizers market is expected to witness a significant growth rate during the forecasted period. Factors like the growing use of polymers such as Poly Vinyl Chloride to which Plasticizers are added to make it soft and pliable in automobile and construction industry I expected to drive the Global Plasticizers market in the forecasted period. Further, the use of food-grade Plasticizers as additives for increasing the plasticity or decreasing the viscosity of the food wrapping material is projected to drive the Global Plasticizer market in the forecasted period. Furthermore, the use of Plasticizers to make soft, flexible, and safe toys by replacing or protecting sharp edges and avoiding brittleness, which could result in a choking hazard, is expected to drive the Global Plasticizer market in the forecasted period. They are needed to make rigid and brittle plastics, rubbers, paints, coatings, and adhesives more smooth, flexible, and soft. PVC floors, cables, plastic toys, or packaging. Therefore, many everyday products contain plasticizers. However, factors like toxicity concerning the use of Plasticizers, availability of substitutes, and stringent government regulations are estimated to restrain the global market growth.

Plasticizers convert rigid plastics into soft, flexible, and elastic materials for better, efficient, and safe use in various industries like automotive, construction, and Electronics. Further, it makes plastics suitable for films, flooring, automotive interiors, cables, toys, cables, and plastic tubing applications. 

The Automobile industry is the most vital consumer of Plasticizers. It is used to soften and lighten plastics used in automobiles and is projected to drive the Global Plasticizers market. Growing population rapid urbanization are some of the facts behind the increased sales of cars, especially in populated regions like India and China. The rise in demand for flexible PVC in different applications, increased adoption of non-phthalate & high molecular weight phthalate plasticizers, and growing packaging industries. Further, the enhanced awareness of the fundamental relationship between mass and fuel economy of automobiles has inclined automobile makers to opt for lightweight materials and metal alternatives. PVCs used in cars are treated with plasticizers for making them soft, and as a result, the plastics get excellent water resistance. Non-flammable properties have driven the demand for plasticizers to grow. Volkswagen Group posted its quarter one results of 2021, with a revenue of USD 55.1 Billion and sales of 2.4 million vehicles globally, a 21.2 percent year-on-year increase. Furthermore, the automotive industry is also experiencing a boom in the electric vehicle market due to the environmental awareness amongst citizens and the government offering subsidies on its purchase, further propelling the automotive industry. Since Plastic treated plastics are used in automotive components like bumpers, interiors, seating, center consoles, etc., their applications are not limited and are almost identical in electric and conventional automobiles. Plasticizers play a vital role in making PVC soft by imparting the necessary flexible and durable properties. PVC products that are softened by plasticizers are known as flexible PVC. These flexible PVCs open up new application markets due to their durability property with the high performance of up to 50 years. Flexible PVC accounts for approximately 30–40% of the total PVC market. Flexible PVC finds applications in pipe, flooring, wall coverings, napkins, adhesive films, pool liners, extruded wires, synthetic leather coated textiles, automotive, and medical devices. Growing demand for lightweight PVC materials in various end-use industries and increased lifetime compared to conventional PVC are propelling the demand for flexible PVC. Moreover, the increasing population and rising standard of living are also surging the demand for flexible PVC materials in various construction and automotive applications. Continuous innovation in plasticizers resulting in the generation of its bio-derived type and R&D activities for producing new applications by different market players are projected to provide numerous opportunities for the development of the plasticizer market. Therefore the use of Plasticizers in the automobile industry is expected to grow and drive the overall market.

Asia-Pacific region is expected to be the Plasticizers production leader, with most of the consumption in China and India. Plasticizer-added polymers account for a critical portion of the automotive polymers utilized in a passenger vehicle. Thus, with hundreds of automobiles manufactured daily, China satisfies its domestic need and caters to the international demand for cars. IBEF stated that the automobile production in India grew at 2.36% CAGR between FY16-20, with nearly 26.36 million vehicles being manufactured in the country in 2020-21. Apart from the rapidly increasing automobile industry, China, Japan, and South Korea are the largest electronics and other consumer goods producers, which have Plasticizers as one of the vital components, thus surging the demand for Plasticizers in the region. The growth of this fragment is attributed to surging demand from the packaging application in the food & beverage industry. Awareness about health and hygiene is further fueling the packaging industry market, thereby driving the film & sheet application. Plasticizers manufacture flexible PVC, which find applications in flooring & wall coverings, wire & cable, coated fabrics, consumer goods, and film & sheets. As greater than half of the world's people reside in the Asia-Pacific region, there is an increasing demand for housing. Since Plasticizers are used in pipe, flooring, wall coverings, napkins, adhesive films, pool liners, extruded cables, automobile, synthetic leather coated textiles, and medical devices, the demand for Plasticizers is expected to increase in the region. 

Some of the market's key players are Arkema S.A., BASF SE, The Dow Chemical Company, L.G. Chem Ltd., Evonik Industries AG, ExxonMobil Chemical Company, and Eastman Chemical Company. 

In September 2021, L.G. Chem partnered with Dansk International to build a new plant in South Korea to produce hydro-treated vegetable oil, which is used as a precursor to making PVC.

In September 2021, South Korea's Aekyung Group announced an overseas production plant for phthalic anhydride (P.A.).

In August 2021, Lanxess AG completed the acquisition of US-based Emerald Kalama Chemical for USD 1.04 Billion. 

Global Plasticizers Market report provides deep insight into the Industrial market's current and future state across various regions. The study comprehensively analyses the Plasticizers market by segmenting based on the Type (Phthalates, Non-Phthalates, Others), End-User Industry (Automotive, Electronics, Consumer Goods, Construction, Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints and the impact of Covid-19 on the market growth in detail. The study covers emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.