Compound Plasticisers Market

The article discusses the rising demand for compound plasticisers worldwide and predicts a positive growth trend from 2022 to 2030. It highlights the expected increase in market volume and value, as well as fluctuations in consumption, production, imports, and exports over the past decade. The analysis includes key countries with the highest consumption, production, imports, and exports of compound plasticisers, along with growth rates in terms of volume and value. Overall, the market is expected to witness gradual expansion in the coming years.

Market Forecast

Driven by rising demand for compound plasticisers worldwide, the market is expected to start an upward consumption trend over the next eight years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.6% for the period from 2022 to 2030, which is projected to bring the market volume to 1.1M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.7% for the period from 2022 to 2030, which is projected to bring the market value to $6.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Compound Plasticisers For Rubber Or Plastics

In 2022, the amount of compound plasticisers for rubber or plastics consumed worldwide dropped slightly to 1M tons, with a decrease of -4.6% on 2021 figures. Overall, consumption saw a mild slump. The growth pace was the most rapid in 2021 when the consumption volume increased by 6.3% against the previous year. Over the period under review, global consumption attained the maximum volume at 1.1M tons in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

The global compound plasticisers market size contracted to $4.4B in 2022, which is down by -12.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +20.4% against 2020 indices. As a result, consumption reached the peak level of $5B, and then shrank in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Turkey (226K tons), China (150K tons) and the United States (103K tons), with a combined 48% share of global consumption. Poland, India, Germany, Japan, Indonesia, Vietnam and South Korea lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Poland (with a CAGR of +31.7%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Turkey ($2.8B) led the market, alone. The second position in the ranking was held by the United States ($304M). It was followed by China.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey totaled +12.9%. In the other countries, the average annual rates were as follows: the United States (-6.3% per year) and China (-8.3% per year).

The countries with the highest levels of compound plasticisers per capita consumption in 2022 were Turkey (2,638 kg per 1000 persons), Poland (2,331 kg per 1000 persons) and Germany (470 kg per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Poland (with a CAGR of +31.8%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Compound Plasticisers For Rubber Or Plastics

In 2022, approx. 959K tons of compound plasticisers for rubber or plastics were produced worldwide; with a decrease of -3.1% compared with the previous year. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 7.7%. Global production peaked at 1.1M tons in 2012; however, from 2013 to 2022, production failed to regain momentum.

In value terms, compound plasticisers production shrank remarkably to $4.2B in 2022 estimated in export price. Overall, production, however, continues to indicate a moderate expansion. The pace of growth appeared the most rapid in 2021 with an increase of 97% against the previous year. Over the period under review, global production reached the maximum level at $7.8B in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were Turkey (215K tons), China (168K tons) and the United States (101K tons), with a combined 50% share of global production. Poland, Germany, India, Estonia, Malaysia, Japan, Argentina, South Korea, Brazil and Canada lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Poland (with a CAGR of +58.7%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Compound Plasticisers For Rubber Or Plastics

In 2022, global compound plasticisers imports contracted to 337K tons, declining by -11.1% on the previous year. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 15% against the previous year. Global imports peaked at 384K tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, compound plasticisers imports reduced modestly to $885M in 2022. The total import value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 27% against the previous year. Over the period under review, global imports hit record highs at $915M in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports By Country

In 2022, China (30K tons), the United States (24K tons), Indonesia (18K tons), Vietnam (17K tons), Thailand (14K tons), France (14K tons), Italy (14K tons), Belgium (13K tons), Turkey (12K tons), Japan (11K tons), the Netherlands (10K tons) and South Africa (9.3K tons) was the key importer of compound plasticisers for rubber or plastics in the world, generating 55% of total import. Germany (8.6K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +18.1%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, China ($92M), the United States ($72M) and France ($42M) constituted the countries with the highest levels of imports in 2022, together comprising 23% of global imports. Thailand, Italy, Belgium, Vietnam, Japan, Turkey, Germany, Indonesia, the Netherlands and South Africa lagged somewhat behind, together comprising a further 35%.

Vietnam, with a CAGR of +19.8%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average compound plasticisers import price stood at $2,628 per ton in 2022, surging by 10% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 15% against the previous year. Global import price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Germany ($3,434 per ton), while South Africa ($1,202 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Compound Plasticisers For Rubber Or Plastics

In 2022, the amount of compound plasticisers for rubber or plastics exported worldwide fell to 289K tons, shrinking by -7.6% against the previous year. The total export volume increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 23%. As a result, the exports reached the peak of 313K tons, and then contracted in the following year.

In value terms, compound plasticisers exports expanded markedly to $725M in 2022. The total export value increased at an average annual rate of +2.7% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 33% against the previous year. Over the period under review, the global exports attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Exports By Country

In 2022, Germany (51K tons) and China (48K tons) were the key exporters of compound plasticisers for rubber or plasticsin the world, together generating 34% of total exports. India (27K tons) ranks next in terms of the total exports with a 9.5% share, followed by Estonia (8.3%), the United States (7.3%), Malaysia (7.2%) and Argentina (6.4%). Canada (12K tons), the Netherlands (9.1K tons), South Korea (7K tons), Belgium (7K tons), Taiwan (Chinese) (6.9K tons) and the United Arab Emirates (6.2K tons) took a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +49.9%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($162M), the United States ($95M) and China ($91M) constituted the countries with the highest levels of exports in 2022, with a combined 48% share of global exports. Malaysia, Estonia, Canada, Argentina, India, Belgium, the Netherlands, Taiwan (Chinese), South Korea and the United Arab Emirates lagged somewhat behind, together comprising a further 41%.

Among the main exporting countries, Malaysia, with a CAGR of +50.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average compound plasticisers export price stood at $2,508 per ton in 2022, jumping by 15% against the previous year. Overall, the export price saw a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($4,475 per ton), while the United Arab Emirates ($983 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform