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Bio-Plasticizers Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • ID: 4622551
  • Report
  • April 2021
  • Region: Global
  • 120 pages
  • Mordor Intelligence

FEATURED COMPANIES

  • Avient Corporation
  • Dow
  • Evonik Industries AG
  • LANXESS
  • OXEA GmbH
  • Roquette Freres
  • MORE
The Global Bio-Plasticizers Market is projected to register a CAGR of over 6% during the forecast period (2021-2026).

The market was negatively impacted by COVID-19 in 2020. Owing to the pandemic scenario, the construction activities were on temporary halt due to the government-imposed lockdown, thus led to a decrease in the consumption of bio-plasticizers based flooring and wall coverings, wires, and cables, which in turn negatively impacts the market demand for bio-plasticizers. However, the demand for packaging from the food and eCommerce segment has been significantly increasing during this situation, which in turn stimulates the demand for packaging material made up of bio-plasticizers, thus enhancing the market growth.
  • Over the short term, the augmenting demand of bio-plasticizers for flexible PVC and prohibition on phthalate-based plasticizers are expected to drive the market growth.
  • High cost of bio-plasticizers, when compared with conventional plasticizers, is likely to hinder the markets growth.
  • Ongoing research on bio-based plasticizers is likely to create opportunities for the market in the coming years.
  • Asia-Pacific region is expected to dominate the market and is also likely to witness highest CAGR during the forecast period.
Key Market Trends

Increasing Demand from Flooring and Wall Covering
  • Bio-Plasticizers help in reducing water requirements and make concrete strong and workable. These are generally organic or a combination of organic and inorganic substances that help reduce water content for workability.
  • The quantity of plasticizers added is about 0.1% to 0.4% by weight of cement. This amount reduces 5% to 15% of the water requirement and also leads to the increment of workability from about 3 to 8 cm slump. A plasticizer, in general, entrains less than 2% air.
  • In 2019, the total value of new construction put in place was about USD 1,365 billion in the United States and reached about USD 1,429 billion in 2020, with a growth rate of about 4.5%, thus led to an increase in the demand for flooring and wall covering, which in turn increases the demand of the bio-plasticizers market.
  • Thus, with the growing demand for the conservation of water resources, the usage of plasticizers is rapidly increasing in flooring and wall coverings.
  • Owing to all these factors, the demand for bio-plasticizers is likely to grow across the world during the forecast period.
Asia-Pacific Region to Dominate the Market Growth
  • The Asia-Pacific construction sector is the largest in the world and is growing at a healthy rate, owing to the rising population, increase in middle-class incomes, and urbanization.
  • Increasing infrastructure construction activities and the entry of major players from the European Union into the lucrative market of China have further fueled the industry’s expansion.
  • China’s construction industry developed rapidly in the recent past, due to the central government’s push for infrastructure investment, as a means to sustain economic growth. China was leading in the construction industry with market size of USD 1092.9 billion in the year 2019, registering a growth rate of 14.71% compared to the previous year.
  • Furthermore, the total new construction in Japan was accounted for about 127.55 million square meters in 2019 and reached about 113.74 million square meters in 2020, with a decline rate of about 10.5%, thus led to a decrease in consumption of bio-plasticizers used for applications include wire, cables, flooring, and wall coverings.
  • Furthermore, restrictions on foreign investment on land development, high-end hotels, office buildings, international exhibition centers, and construction and operation of large theme parks have also been lifted. The growth in the infrastructure and transportation sectors is expected to boost the bio-plasticizers market in the region, over the forecast period.
  • Moreover, according to the Packaging Industry Association of India (PIAI), India is becoming a preferred hub for the plastic packaging industry. The packaging industry is the fifth-largest sector in the Indian economy.
  • The healthcare sector is growing at a steady pace, with a consistent increase in healthcare spending and medical facilities in the country. Liberalization of government policies has also enabled 100% foreign direct investment in the medical devices market in India.
  • Additionally, the government introduced the world's largest government-funded healthcare program, NHP Scheme. The healthcare market in the country is likely to witness a three-fold increase to INR 8.6 trillion (USD 133.44 billion) by 2022. This is because India has been experiencing about 22%-25% growth in medical tourism.
  • Therefore, the aforementioned factors are expected to show significant impact on the market in the coming years.
Competitive Landscape

The bio-plasticizers market is partially consolidated in nature. Some of the major players in the market include Dow, Evonik Industries AG, LANXESS, Matrica S.p.A., and OQ Chemicals GmbH, among others.

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Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Avient Corporation
  • Dow
  • Evonik Industries AG
  • LANXESS
  • OXEA GmbH
  • Roquette Freres
  • MORE
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Augmenting Demand for Flexible PVC
4.1.2 Prohibition on Phthalate-Based Plasticizers
4.2 Restraints
4.2.1 High Cost when Compared with Typical Plasticizers
4.2.2 Unfavorable Conditions Arising due to the Impact of COVID-19
4.2.3 Other Restraints
4.3 Industry Value-Chain Analysis
4.4 Porters Five Force Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition

5 MARKET SEGMENTATION
5.1 Type
5.1.1 Epoxidized Soybean Oil (ESBO)
5.1.2 Castor Oil
5.1.3 Citrates
5.1.4 Succinic Acid
5.1.5 Other Types
5.2 Application
5.2.1 Wire and Cables
5.2.2 Film and Sheet
5.2.3 Flooring and Wall Covering
5.2.4 Medical Devices
5.2.5 Package Materials
5.2.6 Other Applications
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 Italy
5.3.3.4 France
5.3.3.5 Rest of Europe
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle-East and Africa

6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Avient Corporation
6.4.2 Dow
6.4.3 DIC CORPORATION
6.4.4 Emery Oleochemicals
6.4.5 Evonik Industries AG
6.4.6 Hebei Jingu Plasticizer Co., Ltd
6.4.7 Jiangxi East Huge Dragon Chemical Co., Ltd
6.4.8 Jungbunzlauer Suisse AG
6.4.9 LANXESS
6.4.10 Matrica S.p.A.
6.4.11 OXEA GmbH
6.4.12 PolyOne Corporation
6.4.13 Roquette Freres
6.4.14 Solvay

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Ongoing Research on Bio-based Plasticizers
Note: Product cover images may vary from those shown
  • 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 S.p.A.
  • OXEA GmbH
  • PolyOne Corporation
  • Roquette Freres
  • Solvay
Note: Product cover images may vary from those shown

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