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Asia Pacific Bio Plasticizers Market Size, Share & Trends Analysis Report By Product (Epoxidized Soyabean Oil (ESBO), Castor Oil-based Plasticizer, Citrates, Succinic Acid, and Others), By Application, By Country and Growth Forecast, 2024 - 2031

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    Report

  • 146 Pages
  • April 2024
  • Region: Asia Pacific
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 5955396
The Asia Pacific Bio Plasticizers Market would witness market growth of 8.7% CAGR during the forecast period (2024-2031). In the year 2022, the Asia Pacific market's volume surged to 686.38 Kilo Tonnes, showcasing a growth of 13.4% (2020-2023).

Citrates are a widely used class of in the market, offering an eco-friendly alternative to traditional phthalate-based plasticizers. Citrates, such as acetyl tributyl citrate (ATBC) and tributyl citrate (TBC), are derived from citric acid, a naturally occurring organic acid found in citrus fruits. These compounds are commonly employed as plasticizers in polymer formulations to improve flexibility, elasticity, and processability. In terms of volume, the India Market consumed 17.65 Kilo Tonnes Citrates in 2023.



The China market dominated the Asia Pacific Bio Plasticizers Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $602.5 million by 2031. The India market is registering a CAGR of 9.2% during (2024 - 2031). Additionally, The Japan market would showcase a CAGR of 7.7% during (2024 - 2031).

Bio plasticizers are being used to produce flexible and sustainable packaging materials that can help reduce the use of traditional plastics derived from fossil fuels. Similarly, in the automotive industry, there is a trend toward using bio-based materials in vehicle interiors to reduce the environmental footprint of automobiles. As these industries expand, their demand will increase as well.

The market is experiencing substantial growth across various end-use industries, driven by the increasing demand for sustainable and eco-friendly materials. One of the key industries benefiting from the adoption of these is the packaging industry. These facilitate the production of extensible and sustainable packaging materials, thereby catering to the increasing market demand for eco-friendly alternatives.

The Asia Pacific region is experiencing a significant expansion in the market, driven by key industries such as textiles, apparel, automotive, and handicrafts. For example, India's domestic apparel and textile industry contributes approximately 2.3% of the country's GDP and 7% of industry output in value terms. The textile, apparel, and handicrafts sector also plays a crucial role in India's exports, accounting for 11.4% of the country's total exports in 2020-21, with textile exports reaching over US$44 billion in FY 2021-22. This growth in the textile industry is driving the demand for sustainable materials, including bio plasticizers, to reduce environmental impact. Therefore, the region will present lucrative growth prospects for the market.

Based on Product, the market is segmented into Epoxidized Soyabean Oil (ESBO), Castor Oil-based Plasticizer, Citrates, Succinic Acid, and Others. Based on Application, the market is segmented into Packaging Materials, Consumer Goods, Automotive & Transport, Building & Construction, Textile, Agriculture & Horticulture, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Australia, Malaysia, and Rest of Asia Pacific.

List of Key Companies Profiled

  • Avient Corporation
  • BASF SE
  • Cargill, Incorporated
  • DIC Corporation
  • The Dow Chemical Company
  • Evonik Industries AG (RAG-Stifung)
  • Lanxess AG
  • Solvay SA
  • ACS Technical Products
  • Emery Oleochemicals LLC

Market Report Segmentation

By Product (Volume, Kilo Tonnes, USD Billion, 2020-2031)
  • Epoxidized Soyabean Oil (ESBO)
  • Castor Oil-based Plasticizer
  • Citrates
  • Succinic Acid
  • Others
By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)
  • Packaging Materials
  • Consumer Goods
  • Automotive & Transport
  • Building & Construction
  • Textile
  • Agriculture & Horticulture
  • Others
By Country (Volume, Kilo Tonnes, USD Billion, 2020-2031)
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Malaysia
  • Rest of Asia Pacific

Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Bio Plasticizers Market, by Product
1.4.2 Asia Pacific Bio Plasticizers Market, by Application
1.4.3 Asia Pacific Bio Plasticizers Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Opportunities
3.2.3 Market Restraints
3.2.4 Market Challenges
3.3 Porter’s Five Forces Analysis
Chapter 4. Asia Pacific Bio Plasticizers Market by Product
4.1 Asia Pacific Epoxidized Soyabean Oil (ESBO) Market by Country
4.2 Asia Pacific Castor Oil-based Plasticizer Market by Country
4.3 Asia Pacific Citrates Market by Country
4.4 Asia Pacific Succinic Acid Market by Country
4.5 Asia Pacific Others Market by Country
Chapter 5. Asia Pacific Bio Plasticizers Market by Application
5.1 Asia Pacific Packaging Materials Market by Country
5.2 Asia Pacific Consumer Goods Market by Country
5.3 Asia Pacific Automotive & Transport Market by Country
5.4 Asia Pacific Building & Construction Market by Country
5.5 Asia Pacific Textile Market by Country
5.6 Asia Pacific Agriculture & Horticulture Market by Country
5.7 Asia Pacific Others Market by Country
Chapter 6. Asia Pacific Bio Plasticizers Market by Country
6.1 China Bio Plasticizers Market
6.1.1 China Bio Plasticizers Market by Product
6.1.2 China Bio Plasticizers Market by Application
6.2 India Bio Plasticizers Market
6.2.1 India Bio Plasticizers Market by Product
6.2.2 India Bio Plasticizers Market by Application
6.3 Japan Bio Plasticizers Market
6.3.1 Japan Bio Plasticizers Market by Product
6.3.2 Japan Bio Plasticizers Market by Application
6.4 South Korea Bio Plasticizers Market
6.4.1 South Korea Bio Plasticizers Market by Product
6.4.2 South Korea Bio Plasticizers Market by Application
6.5 Australia Bio Plasticizers Market
6.5.1 Australia Bio Plasticizers Market by Product
6.5.2 Australia Bio Plasticizers Market by Application
6.6 Malaysia Bio Plasticizers Market
6.6.1 Malaysia Bio Plasticizers Market by Product
6.6.2 Malaysia Bio Plasticizers Market by Application
6.7 Rest of Asia Pacific Bio Plasticizers Market
6.7.1 Rest of Asia Pacific Bio Plasticizers Market by Product
6.7.2 Rest of Asia Pacific Bio Plasticizers Market by Application
Chapter 7. Company Profiles
7.1 Avient Corporation
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research & Development Expenses
7.1.5 Recent strategies and developments:
7.1.5.1 Acquisition and Mergers:
7.1.6 SWOT Analysis
7.2 BASF SE
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expense
7.2.5 Recent strategies and developments:
7.2.5.1 Partnerships, Collaborations, and Agreements:
7.2.6 SWOT Analysis
7.4 DIC Corporation
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental and Regional Analysis
7.4.4 Research & Development Expenses
7.4.5 SWOT Analysis
7.5 The Dow Chemical Company
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Segmental and Regional Analysis
7.5.4 Research & Development Expenses
7.5.5 SWOT Analysis
7.6 Evonik Industries AG (RAG-Stiftung)
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental and Regional Analysis
7.6.4 Research & Development Expenses
7.6.5 Recent strategies and developments:
7.6.5.1 Product Launches and Product Expansions:
7.6.6 SWOT Analysis
7.7 Lanxess AG
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Segmental and Regional Analysis
7.7.4 Research & Development Expenses
7.7.5 Recent strategies and developments:
7.7.5.1 Partnerships, Collaborations, and Agreements:
7.7.5.2 Acquisition and Mergers:
7.7.6 SWOT Analysis
7.8 Solvay SA
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Segmental and Regional Analysis
7.8.4 Research & Development Expenses
7.8.5 SWOT Analysis
7.9 ACS Technical Products
7.9.1 Company Overview
7.9.2 SWOT Analysis
7.10. Emery Oleochemicals LLC
7.10.1 Company Overview
7.10.2 SWOT Analysis

Companies Mentioned

  • Avient Corporation
  • BASF SE
  • Cargill, Incorporated
  • DIC Corporation
  • The Dow Chemical Company
  • Evonik Industries AG (RAG-Stifung)
  • Lanxess AG
  • Solvay SA
  • ACS Technical Products
  • Emery Oleochemicals LLC

Methodology

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