Top 5 Key Players of Citrate Plasticizer Market, 2023

Citric acid and alcohols are the primary ingredients used to create citrate plasticizer. The two most used types of citrate plasticizer are tributyl citrate (TBC) and acetyl tributyl citrate (ATBC). The FDA has approved them as a safe plasticizer. Citrates are easily applied as lubricants in paints and coatings due to their good solubility in both polar and nonpolar solvents.

Due to its excellent compatibility & chemical robustness in contrast to these materials, it has been widely employed for the engineering of organic polymers such as vinyl chloride resins, styrene-butadiene copolymer latexes, unsaturated polyesters, cellulose nitrates, etc. Plasticizers based on citric acid are one of the top candidates to replace phthalates (especially targeted to replace DOP). Some properties of materials plasticized with citrates can match those plasticized with DOP but the cost of their production is substantially higher.

According to Business Research Insights, the market for Citrate Plasticizer size is valued at USD 2.358 billion in 2022 and is projected to reach a valuation of USD 2.563 billion by 2028 with a CAGR of 1.4%. The market has leading players; Vertellus, Oxea, SurfaTech, ChemCeed, Jungbunzlauer, Lanxess, Morimura, Asahi, Kasei, Indo Nippon & KLJ Group.

The citrate plasticizer market is projected to record massive sales and revenues during the forecast period as the market witnesses advanced features and innovations, growing urbanization, and rising consumer demand and industrial activities. The COVID-19 destructively constricted the market. The pandemic scenario caused the authorities to order a lockdown, which temporarily halted construction events. As a result, the market demand for bio-plasticizers is adversely affected by the decline in the use of bio-plasticizers formed on wires, cables, and flooring. However, during this time, the demand for packaging from the food and e-commerce sectors has been significantly rising. This, in turn, stimulates the demand for packaging materials made of bio-plasticizers and boosts the growth of the citrate plasticizer market. The increasing use of citrate plasticizers in several end-user industries, including paints and coatings, food and beverage packaging, wire & cable, and medical products, is expected to propel the global market for these materials to steady growth throughout the forecast period. Furthermore, these plasticizers have been increasingly used in high-performing elastic PVC resins that are used to make milk bottles, cake molds, baby food pouches, and other products.

Business Research Insights States Top 5 citrate plasticizer Companies: -

1. Vertellus (Indiana)

In 1896, Peter Reilly established Reilly Tar & Chemical and began producing creosote where the Indianapolis Tibbs Plant is now located. In 2021, Vertellus acquired IM Chemicals, a Division of ESIM Chemicals & Specialty Ingredients Businesses from Chemtrade, expanding its solution portfolio in a number of high growth industries. Niacin (vitamin B3), DEET, sulfones, EMA copolymers, alkenyl succinic anhydride, castor oil derivatives, cetylpyridinium chloride, sodium borohydride, and trimethyl borate are among the other products made by Vertellus.

2. Oxea (Germany)

German founded in the year 2007. For a variety of applications, including coatings, paints, adhesives, safety glass, lubricants, and plastics, it is a supplier of oxo-products including chemical basic elements, olefin derivatives, and specialties.

3. ChemCeed (U.S.)

A woman- and minority-owned global chemical distributor with its headquarters in the small American town of Chippewa Falls, ChemCeed was established in 2009. Chemicals, raw materials, plasticizers, fatty acids, alcohols, specialty chemicals, pharmaceuticals, corrosion inhibitors, and esters are all provided.

4. Jungbunzlauer (Switzerland)

One of the top manufacturers of naturally sourced, biodegradable materials is Jungbunzlauer, which was founded in 1867. It enables the consumers to produce goods that are more wholesome, secure, delicious, and environmentally friendly. Citric acid, xanthan gum, gluconates, lactic acid, and sweeteners for the food, cosmetics, and pharmaceutical industries are among the items produced.

5. Lanxess (Germany)

In 2004, Bayer AG's chemicals division and some of the polymer’s business were spun off to become Lanxess, a German specialty chemicals corporation with headquarters in Cologne. The "control center" for all of the Group's requirements has been the 95-meter-high LANXESS Tower since 2013. Development, production, and marketing of consumer safety goods, additives, and chemical intermediates make up the company's key activities.

Increasing Demand from Food Packaging Sector to Promote Growth

The rise in disposable income of consumers, the expanding population, and the growing preference for a variety of culinary practices have all contributed to the rise in demand for food goods. Acetyl trisodium citrate is a common plasticizer. Numerous modules used in chemical processing, such as phthalate and terephthalate, functional groups of ester, citrate, and benzoate, give products qualities like solubility, resistance to hydrolysis, weather resistance, and flame retardancy.

It is mostly used in the production of goods like food packaging and wraps. This increased demand in the food and beverage packaging sector is what is driving the worldwide citrate plasticizer market. Rapid development has had an impact on how the construction business has developed. The lucrative potential of the citrate plasticizer market is covered in this article. It works to create the colorings that are essential in the creation of paints, ink, coatings, and other products.