HS Code:
Plasticizers are additives used to increase the flexibility, workability, and durability of plastics. They are primarily used in the production of polyvinyl chloride (PVC) products such as cables, films, and coatings. The category falls under HS Code 3812.20 (plasticizers, compound) and related codes depending on specific chemical compositions like phthalates, adipates, and others. The global trade of plasticizers is driven by demand in construction, automotive, and packaging industries, with significant environmental and regulatory considerations due to health concerns over certain chemical types like phthalates.
Total Trade Volume
USD 15.2 billion
Data from 2022
Source
United Nations Comtrade Database, International Trade Centre (ITC)
USD 2.8 billion
18.4% of total trade of total trade
Increasing
USD 2.3 billion
15.1% of total trade of total trade
Stable
USD 1.9 billion
12.5% of total trade of total trade
Increasing
USD 1.5 billion
9.9% of total trade of total trade
Increasing
USD 1.2 billion
7.9% of total trade of total trade
Stable
Average Rate
5.2% ad valorem
Highest Rate
12% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements such as EU-USMCA or within ASEAN)
Shift to bio-based plasticizers
Increasing demand for sustainable and non-toxic alternatives due to regulatory pressures, particularly in Europe and North America, leading to higher production costs but also opening new market segments.
2021-2023
Growth in Asia-Pacific demand
Rapid industrialization and urbanization in countries like India and Vietnam are driving higher consumption of plasticizers in construction and automotive sectors, boosting export opportunities for major producers.
2020-2022
Regulatory tightening on phthalates
Stricter regulations on phthalate-based plasticizers in the EU and US are reducing their market share, pushing manufacturers to innovate with alternatives like citrates and adipates.
2019-2023
The European Union expanded its restrictions under the REACH regulation, banning additional phthalate-based plasticizers in consumer goods effective from mid-2023, with exceptions for certain industrial applications under strict conditions.
July 2023
This has led to a significant drop in phthalate exports to the EU, prompting exporters to pivot to bio-based alternatives or focus on other regions with less stringent regulations.
As part of Phase One trade agreements, the US reduced tariffs on certain chemical imports, including plasticizers, from China, aiming to stabilize supply chains disrupted by previous trade tensions.
January 2023
This has increased Chinese plasticizer exports to the US by approximately 8% in 2023, benefiting US manufacturers reliant on cost-effective inputs while raising concerns among domestic producers.
Major South Korean chemical companies announced a USD 500 million investment in bio-plasticizer production facilities to meet growing global demand for sustainable materials, with production expected to start by late 2024.
March 2023
This positions South Korea as a leading exporter of eco-friendly plasticizers, potentially capturing a larger share of the European and North American markets.