PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1514931
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1514931
Asia Pacific Bio Plasticizers Market, By Product Type, By Application, By Country - Industry Analysis, Market Size, Market Share & Forecast from 2024-2032
REPORT HIGHLIGHT
Asia Pacific Bio Plasticizers Market size was valued at USD 690.21 Million in 2023, expanding at a CAGR of 11.20% from 2024 to 2032.
Bioplasticizers are additives derived from renewable biological sources used to enhance the flexibility, durability, and processability of polymers, particularly in plastics. Unlike traditional plasticizers made from petroleum, bioplasticizers are environmentally friendly, reducing the ecological footprint of plastic products. They improve the plastic's mechanical properties without compromising its strength or stability. Common sources include vegetable oils, starch, and other natural materials. Bio plasticizers are increasingly finding applications, in various industries such as medical devices, packaging, and consumer goods, to meet the growing demand for sustainable and eco-friendly materials.
Asia Pacific Bio Plasticizers Market- Market Dynamics
Increased demand for flexible PVC in various applications and regulatory bans on certain plasticizers to propel market demand
Bio plasticizers are utilized in the packaging sector to enhance the aesthetic appeal of the final product while providing an environmentally sustainable alternative. The market is experiencing significant growth driven by increased demand for flexible PVC in various applications and regulatory bans on certain plasticizers. Additionally, the market is propelled by heightened consumption of consumer goods and a surge in construction activities across the region. Ongoing research into bio-based plasticizers and the emergence of new applications are expected to unlock numerous growth opportunities. Notably, partnerships and collaborations among bio-plasticizer manufacturers and end-use industries are rising. Expanding the packaging industries in the Asia-Pacific region, such as in India is driving market growth in the country. The production landscape of bio-plasticizers is poised to shift towards emerging economies like China and India, further driving market growth in the region. This shift is anticipated due to rapid industrialization and government support for domestic manufacturing, leading to increased regional bio-plasticizer production and lucrative global opportunities for bio-plasticizer producers.
Asia Pacific 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 11.20% over the forecast period (2024-2032)
Based on Product Type segmentation, Epoxidized Soybean Oil (ESBO) was the leading type in 2023
Based on Application segmentation, packaging materials was predicted to show maximum market share in the year 2023
On the basis of countries, China was the leading revenue generator in 2023
Asia Pacific Bio Plasticizers Market- Segmentation Analysis:
The Asia Pacific Bio Plasticizers Market is segmented on the basis of Product Type, Application, and Country.
The market is divided into five categories based on Product Type: Epoxidized Soybean Oil (ESBO) , Castor Oil-based Plasticizers, Citrates, Succinic Acid, and Others. Epoxidized Soybean Oil (ESBO) emerged as the market leader, capturing the largest revenue share in 2023. This dominance is attributed to several factors, including health and environmental concerns, regulatory restrictions on traditional plasticizers, and growing public awareness of their adverse impacts. Manufacturers are increasingly shifting towards bio-based alternatives like ESBO to address these concerns and improve the flexibility and durability of plastic products, particularly those containing polyvinyl chloride (PVC), widely used in consumer goods, packaging, and construction industries.
The market is divided into seven categories based on Application: Consumer Goods, Packaging Materials, Automotive & Transport, Building & Construction, Textiles, Agriculture & Horticulture, and Others. In 2023, packaging materials held the largest market share, driven by the expanding utilization of bio-plasticizer-based plastics across diverse sectors such as food and beverage, personal care, films and sheets, and household care products. Consumer preference for sustainable packaging and rising concerns over global landfill pollution have significantly contributed to the growth of bio-plasticizer-based packaging goods. The pandemic further intensified demand for food packaging applications owing to the closure of restaurants and food service outlets.
Asia Pacific Bio Plasticizers Market- Geographical Insights
The analysis of the Asia Pacific bio-plasticizers market includes countries such as India, China, South Korea, Japan, Australia, Thailand, Indonesia, and the Philippines, along with the rest of the Asia Pacific (APAC). China led the Asia Pacific bio-plasticizers market in 2023, commanding the highest revenue share. This growth is fueled by increasing demand across various sectors including packaging, automotive and transport, agriculture, consumer goods, building and construction, and textiles. China's substantial consumption of non-alcoholic beverages and packaged food products amplifies the demand for bio-plasticizers in the packaging industry, consolidating its dominant position in the market.
Asia Pacific Bio Plasticizers Market- Competitive Landscape:
The Asia Pacific bio-plasticizers market demonstrates a moderate to high level of innovation, attributed to the complexity of developing bio-based alternatives to conventional plasticizers. While research and development efforts continue to enhance the performance and sustainability of bioplasticizers, innovation progress is not as rapid as in some other industries. Regulations play a significant role in shaping the market landscape, driven by the need for bio-based alternatives in response to regulations restricting the use of phthalate-based plasticizers and growing environmental concerns. Regulatory actions supporting sustainability and renewable resource utilization further drive the adoption of bio-plasticizers in the region. The market experiences moderate product expansion, with a few major manufacturers dominating the landscape by offering both conventional and bio-based options. Despite some diversification and the introduction of new bio-based plasticizer products, there is potential for further product growth as demand for sustainable solutions grows and environmental challenges become more widely acknowledged.
Recent Developments:
In February 2024, DIC Corporation introduced a new antifoaming agent tailored for electric vehicle lubricating oils, free of perfluoroalkyl and polyfluoroalkyl substances (PFASs). This innovative product boasts remarkable antifoaming capabilities, thermal stability, and durability, addressing challenges encountered by PFAS-free alternatives in the past.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
ASIA PACIFIC BIO PLASTICIZERS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHT
DIC Corporation
Zhejiangjiaao Enprotech Stock Co., Ltd.
Aekyung Chemical
JiangXi East Huge Dragon Chemical co.,ltd
Hebei Jingu Plasticizer Co. Ltd.
UPC Technology Corp.
Toling Corporation (m) sdn bhd
KLJ GROUP
Hanwha Chemical
Cargill Inc.
Avient Corporation
Others
ASIA PACIFIC BIO PLASTICIZERS MARKET, BY PRODUCT TYPE - MARKET ANALYSIS, 2019 - 2032
Epoxidized Soybean Oil (ESBO)
Castor Oil-based Plasticizers
Citrates
Succinic Acid
Others
ASIA PACIFIC BIO PLASTICIZERS MARKET, BY APPLICATION- MARKET ANALYSIS, 2019 - 2032
Packaging Materials
Consumer Goods
Automotive & Transport
Building & Construction
Textiles
Agriculture & Horticulture
Others
ASIA PACIFIC BIO PLASTICIZERS MARKET, BY COUNTRY- MARKET ANALYSIS, 2019 - 2032
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Table of Contents
1. Asia Pacific Bio Plasticizers Market Overview
- 1.1. Study Scope
- 1.2. Market Estimation Years
2. Executive Summary
- 2.1. Market Snippet
- 2.1.1. Asia Pacific Bio Plasticizers Market Snippet by Product type
- 2.1.2. Asia Pacific Bio Plasticizers Market Snippet by Application
- 2.1.3. Asia Pacific Bio Plasticizers Market Snippet by Country
- 2.2. Competitive Insights
3. Asia Pacific Bio Plasticizers Key Market Trends
- 3.1. Asia Pacific Bio Plasticizers Market Drivers
- 3.1.1. Impact Analysis of Market Drivers
- 3.2. Asia Pacific Bio Plasticizers Market Restraints
- 3.2.1. Impact Analysis of Market Restraints
- 3.3. Asia Pacific Bio Plasticizers Market Opportunities
- 3.4. Asia Pacific Bio Plasticizers Market Future Trends
4. Asia Pacific Bio Plasticizers Industry Study
- 4.1. PEST Analysis
- 4.2. Porter's Five Forces Analysis
- 4.3. Growth Prospect Mapping
- 4.4. Regulatory Framework Analysis
5. Asia Pacific Bio Plasticizers Market: COVID-19 Impact Analysis
- 5.1. Pre-COVID-19 Impact Analysis
- 5.2. Post-COVID-19 Impact Analysis
- 5.2.1. Top Performing Segments
- 5.2.2. Marginal Growth Segments
- 5.2.3. Top Looser Segments
- 5.2.4. Marginal Loss Segments
6. Asia Pacific Bio Plasticizers Market Landscape
- 6.1. Asia Pacific Bio Plasticizers Market Share Analysis, 2023
- 6.2. Breakdown Data, by Key Manufacturer
- 6.2.1. Established Players' Analysis
- 6.2.2. Emerging Players' Analysis
7. Asia Pacific Bio Plasticizers Market - By Product type
- 7.1. Overview
- 7.1.1. Segment Share Analysis, By Product type, 2023 & 2032 (%)
- 7.1.2. Epoxidized Soybean Oil (ESBO)
- 7.1.3. Castor Oil-based Plasticizers
- 7.1.4. Citrates
- 7.1.5. Succinic Acid
- 7.1.6. Others
8. Asia Pacific Bio Plasticizers Market - By Application
- 8.1. Overview
- 8.1.1. Segment Share Analysis, By Application, 2023 & 2032 (%)
- 8.1.2. Packaging Materials
- 8.1.3. Consumer Goods
- 8.1.4. Automotive & Transport
- 8.1.5. Building & Construction
- 8.1.6. Textiles
- 8.1.7. Agriculture & Horticulture
- 8.1.8. Others
9. Asia Pacific Bio Plasticizers Market- By Geography
- 9.1. Introduction
- 9.1.1. Segment Share Analysis, By Geography, 2023 & 2032 (%)
- 9.2. Asia Pacific (APAC)
- 9.2.1. Overview
- 9.2.2. Asia Pacific Bio Plasticizers Key Manufacturers in Asia Pacific
- 9.2.3. Asia Pacific Market Size and Forecast, By Country, 2019 - 2032 (US$ Million)
- 9.2.4. Asia Pacific Market Size and Forecast, By Product type, 2019 - 2032 (US$ Million)
- 9.2.5. Asia Pacific Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 9.2.6. India
- 9.2.6.1. Overview
- 9.2.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 9.2.6.3. India Market Size and Forecast, By Product type, 2019 - 2032 (US$ Million)
- 9.2.6.4. India Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 9.2.7. China
- 9.2.7.1. Overview
- 9.2.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 9.2.7.3. China Market Size and Forecast, By Product type, 2019 - 2032 (US$ Million)
- 9.2.7.4. China Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 9.2.8. Japan
- 9.2.8.1. Overview
- 9.2.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 9.2.8.3. Japan Market Size and Forecast, By Product type, 2019 - 2032 (US$ Million)
- 9.2.8.4. Japan Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 9.2.9. South Korea
- 9.2.9.1. Overview
- 9.2.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 9.2.9.3. South Korea Market Size and Forecast, By Product type, 2019 - 2032 (US$ Million)
- 9.2.9.4. South Korea Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 9.2.10. Australia
- 9.2.10.1. Overview
- 9.2.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 9.2.10.3. Australia Market Size and Forecast, By Product type, 2019 - 2032 (US$ Million)
- 9.2.10.4. Australia Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 9.2.11. Thailand
- 9.2.11.1. Overview
- 9.2.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 9.2.11.3. Thailand Market Size and Forecast, By Product type, 2019 - 2032 (US$ Million)
- 9.2.11.4. Thailand Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 9.2.12. Indonesia
- 9.2.12.1. Overview
- 9.2.12.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 9.2.12.3. Indonesia Market Size and Forecast, By Product type, 2019 - 2032 (US$ Million)
- 9.2.12.4. Indonesia Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 9.2.13. Philippines
- 9.2.13.1. Overview
- 9.2.13.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 9.2.13.3. Philippines Market Size and Forecast, By Product type, 2019 - 2032 (US$ Million)
- 9.2.13.4. Philippines Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 9.2.14. Rest of APAC
- 9.2.14.1. Overview
- 9.2.14.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 9.2.14.3. Rest of APAC Market Size and Forecast, By Product type, 2019 - 2032 (US$ Million)
- 9.2.14.4. Rest of APAC Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
10. Key Vendor Analysis- Asia Pacific Bio Plasticizers Industry
- 10.1. Competitive Dashboard
- 10.2. Company Profiles
- 10.2.1. DIC Corporation
- 10.2.2. Zhejiangjiaao Enprotech Stock Co., Ltd.
- 10.2.3. Aekyung Chemical
- 10.2.4. JiangXi East Huge Dragon Chemical co.,ltd
- 10.2.5. Hebei Jingu Plasticizer Co. Ltd.
- 10.2.6. UPC Technology Corp.
- 10.2.7. Toling Corporation (m) sdn bhd
- 10.2.8. KLJ GROUP
- 10.2.9. Hanwha Chemical
- 10.2.10. Cargill Inc.
- 10.2.11. Avient Corporation
- 10.2.12. Others
11. 360 Degree Analyst View
12. Appendix
- 12.1. Research Methodology
- 12.2. References
- 12.3. Abbreviations
- 12.4. Disclaimer
- 12.5. Contact Us
List of Tables
- TABLE List of data sources
- TABLE Market drivers; Impact Analysis
- TABLE Market restraints; Impact Analysis
- TABLE Asia Pacific Bio Plasticizers Market: Product type Snapshot (2023)
- TABLE Segment Dashboard; Definition and Scope, by Product type
- TABLE Asia Pacific Bio Plasticizers Market, by Product type 2019-2032 (USD Million)
- TABLE Asia Pacific Bio Plasticizers Market: Application Snapshot (2023)
- TABLE Segment Dashboard; Definition and Scope, by Application
- TABLE Asia Pacific Bio Plasticizers Market, by Application 2019-2032 (USD Million)
- TABLE Asia Pacific Asia Pacific Bio Plasticizers Market, by Country, 2019-2032 (USD Million)
List of Figures
- FIGURE Asia Pacific Bio Plasticizers Market Segmentation
- FIGURE Market research methodology
- FIGURE Value chain analysis
- FIGURE Porter's Five Forces Analysis
- FIGURE Market Attractiveness Analysis
- FIGURE COVID-19 Impact Analysis
- FIGURE Pre & Post COVID-19 Impact Comparision Study
- FIGURE Competitive Landscape; Key company market share analysis, 2023
- FIGURE Product type segment market share analysis, 2023 & 2032
- FIGURE Product type segment market size forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE Application segment market share analysis, 2023 & 2032
- FIGURE Application segment market size forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE Asia Pacific Asia Pacific Bio Plasticizers Market share and leading players, 2023
- FIGURE Asia Pacific Asia Pacific Bio Plasticizers Market share analysis by country, 2023
- FIGURE India Asia Pacific Bio Plasticizers Market size, forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE China Asia Pacific Bio Plasticizers Market size, forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE Japan Asia Pacific Bio Plasticizers Market size, forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE South Korea Asia Pacific Bio Plasticizers Market size, forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE Australia Asia Pacific Bio Plasticizers Market size, forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE Thailand Asia Pacific Bio Plasticizers Market size, forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE Indonesia Asia Pacific Bio Plasticizers Market size, forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE Philippines Asia Pacific Bio Plasticizers Market size, forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE Rest of APAC Asia Pacific Bio Plasticizers Market size, forecast and trend analysis, 2019 to 2032 (USD Million)
