PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1490261
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1490261
Bio Plasticizers Market size was valued at USD 3,098.32 Million in 2023, expanding at a CAGR of 8.92% from 2024 to 2032.
Unlike conventional plasticizers, which are typically derived from petroleum, bioplasticizers are sourced from renewable biological materials. They are generally considered more environmentally friendly because they are biodegradable and have a lower carbon footprint. The prohibition on phthalate-based plasticizers and the strict laws governing the safe use of toys and food packaging are the main factors driving the growth of the worldwide bio-plasticizers market. Furthermore, it is anticipated that using sustainable manufacturing processes for plastic will boost resource efficiency, reduce waste and pollution, and open up new avenues for growth and innovation, all of which will have a beneficial economic impact.
Bio Plasticizers Market- Market Dynamics
Increasing The growing demand for bio-based plastic additives as the replacement for phthalate-based polymers
The market for bio-based plastic additives is anticipated to expand at a faster rate in the upcoming years due to the increasing demand for these additives across a variety of industries, including consumer goods, packaging, automotive, and agriculture. Additionally, the other major factors that are anticipated to boost the market growth include the growing demand for the conservation of water resources, and the usage of plasticizers, which are rapidly increasing in flooring and wall coverings. For instance, according to the National Bureau of Statistics of China, the output value of construction works in the country accounted for USD 4.02 trillion in 2021, compared to USD 3.37 trillion in 2020. The market for bioplasticizers saw a rise in demand as a result, driving up demand for wall covering and flooring.
Bio Plasticizers Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 8.92% over the forecast period (2024-2032)
Based on application segmentation, packaging materials were predicted to show maximum market share in the year 2023
Based on end-user segmentation, building & construction was the leading type in 2023
based on region, Asia Pacific was the leading revenue generator in 2023
The Global Bio Plasticizers Market is segmented on the basis of Product Type, Application, End User, and Region.
The market is divided into five categories based on product type: Epoxidized Soybean Oil, Castor Oil-based Plasticizers, Sebacates, and Citrates. Epoxidized soybean oil (ESBO) is a plasticizer made from soybean oil. Plastic materials, particularly those comprising PVC and used across industries such as construction, packaging, and consumer goods, can be made more flexible and durable using Epoxidized soybean oil.
The market is divided into two categories based on application: Flooring & Wall, Film & Sheet Coverings, Wires & Cables, Medical Devices, Roofing Membranes, Coated Fabrics, Adhesives & Sealants, Packaging Materials and Others. Bio-plasticizer-based plastics are widely used in packaging applications such as food & beverage packaging, personal care packaging, films & sheets, and household care products packaging.
Bio Plasticizers Market- Geographical Insights
The growing construction industry in the Asia-Pacific region is a significant driver for the bioplasticizers market. As the construction sector in this region experiences rapid growth and urbanization, there is an increasing demand for sustainable and eco-friendly construction materials. Bio plasticizers play a critical role in meeting these needs by improving the properties of construction products while reducing their environmental influence. Stricter ecological laws for building materials as well as methods are being applied in several Asia-Pacific nations. Because they are made from sustainable resources, bioplasticizers assist building enterprises in adhering to these rules. These flexible materials are essential to the building industry because of their strength and adaptability.
Avient Corporation, Dow, Emery Oleochemicals, DIC CORPORATION, Hebei Jingu Plasticizer Co. Ltd., Jiangxi East Huge Dragon Chemical Co. Ltd., Roquette Freres, Evonik Industries AG, LANXESS, Matrica SpA, OXEA GmbH, PolyOne Corporation, Jungbunzlauer Suisse AG, and Solvay are a few of the major players in the global bio-plasticizers market. Due to their reduced environmental impact and compliance with strict rules against old, toxic plasticizers, bio-based plasticizers are becoming more and more popular. Dow Inc., a significant player in the bio-plasticizers industry, provides a wide range of plastic products to several industries, including packaging, consumer goods, and healthcare. For instance, In January 2024, Specialty chemicals innovator Perstorp launched Pevalen Pro 100, marking a new era in PVC plasticizing technology. Moreover, Baerlocher USA and Innoleics announced a U.S. distribution partnership for bio-based PVC plasticizers
In November 2022, Evonik Industries has centralized and expanded its influence. It launched its primary digital dais, 'myFLEXINO,' for plasticizers to efficiently and efficiently extend its products and services to consumers.
In August 2022, The Hallstar Company, a specialty substances company developed an ester manufacturing place in North Carolina, from German subject chemicals manufacturer Lanxess. This location has substantial assets that yield environmentally responsive phthalate-free plasticizers which will help to expand the product portfolio of Hallstar Company
GLOBAL BIO PLASTICIZERS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Avient Corporation
Dow
DIC CORPORATION
Emery Oleochemicals
Evonik Industries AG
Hebei Jingu Plasticizer Co. Ltd
Jiangxi East Huge Dragon Chemical Co. Ltd
Jungbunzlauer Suisse AG
LANXESS
Matrica SpA
OXEA GmbH
PolyOne Corporation
Roquette Freres
Solvay
Others