USD 2.07 billion
Bio Plasticizers Market Size, Share, Growth Analysis, By Application(Packaging Materials, Consumer Goods, Automotive & Transport, Building & Construction), By Type(Epoxidized Soybean Oil, Castor Oil, Citrates and Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2189 |
Region:
Global |
Published Date: March, 2024
Pages:
184
|Tables:
65
|Figures:
77
Bio Plasticizers Market Insights
Global Bio Plasticizers Market size was valued at USD 2.07 billion in 2022 and is poised to grow from USD 2.18 billion in 2023 to USD 3.29 billion by 2031, at a CAGR of 5.30% during the forecast period (2024- 2031).
As a phthalate-free substitute in a variety of consumer goods, such as cosmetics, food packaging, medical equipment, and toys, bio-plasticizers hold out a lot of potential. Inputs that are expensive are often needed to produce bio-based plasticizers.
In recent years, bio-plasticizers—commonly thought of as biologically produced compounds added to polymers to make them pliable and workable—have drawn a lot of interest.
These bio-plasticizers are produced using materials including stearic acid, starch, castor oil, and soybean oil. It makes use of non-renewable, sustainable resources. Bio-plasticizers can lower a material's elastic modulus, glass transition temperature, and melt viscosity.
The growth of the bio plasticizers market is the rising awareness of environmental concerns and the need to reduce the carbon footprint. Stringent regulations and a growing preference for sustainable products have led manufacturers to explore bio-based solutions in plasticizer production.
The construction and automotive industries, in particular, have been significant consumers of bio plasticizers due to the increasing demand for eco-friendly materials in building and automotive applications.
These plasticizers are also essential for improving the characteristics of polymers so that they are more appropriate for the intended usage. The greatest publicly sponsored healthcare programme in the history of the globe, the NHP Plan, was launched by the government.
By the end of 2022, it was projected that the healthcare market in the nation will expand to USD 133.44 billion. This is due to the fact that medical tourism has been growing by between 22% and 25% in India.
US Bio Plasticizers Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Packaging Materials
Fastest Growth
Building & Construction
Growth Rate
5.30% CAGR
Global Bio Plasticizers Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Bio Plasticizers Market Segmental Analysis
Global Bio Plasticizers Market is segmented on the basis of type, application and region. By application the market is segmented into packaging materials, consumer goods, automotive & transport, building & construction, textiles. By type, the market is segmented into epoxidized soybean oil, castor oil, citrates and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Bio Plasticizers Market Analysis by Type
The dominant segment in the bio plasticizers market with a CAGR 7% in 2021 is the epoxidized soybean oil (ESBO) segment. This segment is expected to hold the largest market share due to its extensive use in various applications, including food packaging, medical devices, and toys, among others. It is also known for its low toxicity and biodegradability, making it a popular choice among consumers who prioritize sustainability.
The citrates segment is expected to be the fastest-growing segment in the bio plasticizers market with a CAGR of 6.8% during the forecast period. Citrates are derived from citric acid and are commonly used in applications such as PVC flooring and wire and cable coatings. Citrates are known for their excellent heat stability and low volatility, making them a popular choice among manufacturers.
Bio Plasticizers Market Analysis by Application
Due to the rising need for environmentally friendly and sustainable packaging options, the packaging materials segment is anticipated to hold a sway over the bio plasticizers market in 2021. Due to their non-toxicity and potential to lessen the environmental effects of plastic waste, bio plasticizers are frequently employed in food packaging.
During the course of the forecast period, the bio plasticizers market is anticipated to experience the quickest growth in the building and construction sector. The demand for sustainable construction materials is rising, and green building techniques are being more widely used, which can be credited for the segment's expansion.
Global Bio Plasticizers Market By Application (%)
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Bio Plasticizers Market Regional Insights
Asia-Pacific is expected to be the dominant segment in the bio plasticizers market in 2021, driven by the growing demand for sustainable products and the presence of a large number of manufacturers in the region. It is projected that a high level of urbanization and rapid industrialization will accelerate market growth nationwide. Additionally, the demand for products in the region is boosted by the increased use of bio-based packaging material products in developing nations.
The Latin America market is expected to be the fastest-growing segment in 2021 the bio plasticizers market during the forecast period. The growth of this segment can be attributed to the increasing government initiatives and investments in the region to promote sustainable development and reduce the environmental impact of plastic waste.
Global Bio Plasticizers Market By Region
- Largest
- Fastest
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Bio Plasticizers Market Dynamics
Bio Plasticizers Market Drivers
Growing demand for Eco-Friendly Plasticizers will Open New Revenue Generating Opportunities
- There is a growing demand for eco-friendly and sustainable plasticizers due to increasing environmental concerns and regulations. Bio plasticizers are derived from renewable sources, such as plant oils and vegetable fats, and are considered to be more sustainable than traditional petroleum-based plasticizers.
- PVC (Polyvinyl Chloride) is widely used in several industries, including construction, automotive, and packaging. Bio plasticizers, such as Epoxidized Soybean Oil (ESBO) and Citrates, are extensively used in PVC applications due to their excellent plasticizing properties, which has led to increased demand for bio plasticizers.
Bio Plasticizers Market Restraints
Competition from Traditional Plasticizers might Hinder Market Growth
- Although the global bio plasticizers market is growing, there are several factors that can act as restraints to the market's growth. Traditional petroleum-based plasticizers are still widely used and are often less expensive than bio plasticizers. This can limit the demand for bio plasticizers, especially in cost-sensitive industries.
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Bio Plasticizers Market Competitive Landscape
Due to the volatility of these material prices on the global market, it is difficult for most manufacturers to earn significant profit margins because they are vulnerable to commodity and energy prices as well as the costs of critical raw materials. Businesses frequently have backup plans in place, including portfolio consolidation, organizational reorganization, momentary production halts, and other business measures, in case there are indications of a wider turndown and inventory building.
Top Player’s Company Profiles in Bio Plasticizers Market
- Arkema S.A. (France)
- Evonik Industries AG (Germany)
- Lanxess AG (Germany)
- Dow Inc. (USA)
- PolyOne Corporation (USA)
- Bioamber Inc. (Canada)
- Emery Oleochemicals LLC (Malaysia)
- Danisco A/S (Denmark)
- Vertellus Holdings LLC (USA)
- Perstorp Holding AB (Sweden)
- Myriant Corporation (USA)
- Corbion NV (Netherlands)
- Jungbunzlauer Suisse AG (Switzerland)
- Polynt Composites Inc. (Italy)
- Shandong Yuanli Science and Technology Co., Ltd. (China)
- KLJ Group (India)
- Solvay SA (Belgium)
- Mitsubishi Chemical Corporation (Japan)
- Meredian Holdings Group Inc. (USA)
Bio Plasticizers Market Recent Developments
-
In March 2024, Baerlocher USA, a division of the Baerlocher Group, a main global supplier of plastics added substances, and Innoleics, a US-based innovator in bio-based plasticizers, unveiled a new partnership agreement. According to the agreement, Baerlocher USA is the exclusive wholesaler of Innoleics' complete range of bio-based plasticizers customized for the U.S. market for adaptable polyvinyl chloride (PVC) applications.
-
In October 2023, LANXESS declared the availability of its plasticizer Mesamoll with a considerably reduced product carbon footprint (PCF). While keeping up with the standard item quality, clients can now partake in the additional benefit of an improved maintainability profile.
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In May 2023, Origin Materials, Inc., a worldwide leader in carbon-negative materials, and Indorama Ventures Public Company Limited, the world's biggest maker of virgin and reused PET resins, uncovered a strategic partnership to facilitate the huge-scale creation of bio-based materials.
Bio Plasticizers Key Market Trends
-
Traditional phthalate-based plasticizers have been associated with several health hazards, which has led to the banning or restriction of their use in several countries. Bio plasticizers are considered safer and healthier alternatives to phthalate-based plasticizers, and their adoption is increasing rapidly.
-
The growing emphasis on regulatory compliance and eco-friendly certifications. Governments and industries worldwide are increasingly recognizing the importance of sustainable practices, leading to stringent regulations favoring bio-based solutions. This regulatory landscape has propelled the integration of bio plasticizers across various sectors, including packaging, automotive, and construction.
Bio Plasticizers Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analyses, the global bio plasticizers market refers to the market for renewable and biodegradable plasticizers used in various applications such as packaging, consumer goods, automotive, construction, and others. Bio plasticizers are a type of plasticizer derived from natural and renewable sources, such as vegetable oils, soybeans, and cornstarch, and they are considered a sustainable alternative to traditional, petroleum-based plasticizers. The global bio plasticizers market is expected to grow significantly in the coming years due to increasing demand for sustainable and eco-friendly products. The market is driven by factors such as growing consumer awareness about the harmful effects of traditional plasticizers on the environment, stringent government regulations promoting the use of bio-based products, and increasing adoption of bio plasticizers by various industries.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.07 billion |
| Market size value in 2031 | USD 3.29 billion |
| Growth Rate | 5.30% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Bio Plasticizers Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Bio Plasticizers Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Bio Plasticizers Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Bio Plasticizers Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Bio Plasticizers Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Bio Plasticizers Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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