The global bio plasticizers market was valued at $1.4 billion in 2022, and is projected to reach $2.4 billion by 2032, growing at a CAGR of 5.5% from 2023 to 2032.
Bio plasticizers are additives used in plastics that are derived from renewable, bio-based sources and serve to enhance the flexibility and other properties of the plastic materials while minimizing environmental and health concerns associated with traditional plasticizers. Bio plasticizers are often considered safer for human health and the environment as they do not contain harmful chemicals commonly found in some traditional plasticizers, such as phthalates. Bio plasticizers are used in a wide range of plastic products, including flexible PVC (polyvinyl chloride) materials, films, and coatings. They help improve the plastic's flexibility, durability, and overall performance.
Bio plasticizers offer the advantage of being biodegradable and compostable, reducing the environmental impact of plastic waste. This aligns with the goals of achieving a circular economy and reducing plastic pollution. Moreover, companies have diversified their supply chains and are sourcing materials from renewable and sustainable sources. This shift supports the use of bio plasticizers as part of an eco-friendlier supply chain strategy. However, while there is a surge in demand for sustainable and eco-friendly products, consumers and industries expect these products to be competitively priced. The cost disparity between bio plasticizers and conventional plasticizers is a barrier to adoption, particularly in price-sensitive markets. Nevertheless, the surge in demand from packaging industry is anticipated to offer many opportunities for market growth in the coming years.
The bio plasticizers market is segmented on the basis of product, application, and region. By product, the market is categorized into epoxidized soybean oil (ESBO), castor oil-based plasticizers, citrates, succinic acid, and others. By application, the bio plasticizers market is classified into flooring & walls, film & sheet coverings, wires & cables, coated fabrics, consumer goods, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report covers strategies adopted by key players in the market to sustain the competitive environment and increase their market share. The key players operating in the bio plasticizers market include Evonik Industries AG, Dow Chemical Company, Avient Corporation, Lanxess AG, MATRCA S.P.A., Vertellus, Emery Oleochemicals, Cargill, BASF SE, and DIC CORPORATION. In addition, the market drivers, restraints, and opportunities are explained in the report.
Bio plasticizers are additives used in plastics that are derived from renewable, bio-based sources and serve to enhance the flexibility and other properties of the plastic materials while minimizing environmental and health concerns associated with traditional plasticizers. Bio plasticizers are often considered safer for human health and the environment as they do not contain harmful chemicals commonly found in some traditional plasticizers, such as phthalates. Bio plasticizers are used in a wide range of plastic products, including flexible PVC (polyvinyl chloride) materials, films, and coatings. They help improve the plastic's flexibility, durability, and overall performance.
Bio plasticizers offer the advantage of being biodegradable and compostable, reducing the environmental impact of plastic waste. This aligns with the goals of achieving a circular economy and reducing plastic pollution. Moreover, companies have diversified their supply chains and are sourcing materials from renewable and sustainable sources. This shift supports the use of bio plasticizers as part of an eco-friendlier supply chain strategy. However, while there is a surge in demand for sustainable and eco-friendly products, consumers and industries expect these products to be competitively priced. The cost disparity between bio plasticizers and conventional plasticizers is a barrier to adoption, particularly in price-sensitive markets. Nevertheless, the surge in demand from packaging industry is anticipated to offer many opportunities for market growth in the coming years.
The bio plasticizers market is segmented on the basis of product, application, and region. By product, the market is categorized into epoxidized soybean oil (ESBO), castor oil-based plasticizers, citrates, succinic acid, and others. By application, the bio plasticizers market is classified into flooring & walls, film & sheet coverings, wires & cables, coated fabrics, consumer goods, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report covers strategies adopted by key players in the market to sustain the competitive environment and increase their market share. The key players operating in the bio plasticizers market include Evonik Industries AG, Dow Chemical Company, Avient Corporation, Lanxess AG, MATRCA S.P.A., Vertellus, Emery Oleochemicals, Cargill, BASF SE, and DIC CORPORATION. In addition, the market drivers, restraints, and opportunities are explained in the report.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the bio plasticizers market analysis from 2022 to 2032 to identify the prevailing bio plasticizers market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the bio plasticizers market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global bio plasticizers market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Product
- Epoxidized Soybean Oil (ESBO)
- Castor Oil-Based Plasticizers
- Citrates
- Succinic Acid
- Others
By Application
- Wires and Cables
- Coated Fabrics
- Consumer Goods
- Others
- Flooring and Walls
- Film and Sheet Coverings
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- UK
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Key Market Players
- Evonik Industries AG
- Vertellus
- Dow
- LANXESS
- BASF SE
- Emery Oleochemicals
- Matrca S.p.A.
- DIC CORPORATION
- Cargill, Incorporated.
- Avient Corporation
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: BIO PLASTICIZERS MARKET, BY PRODUCT
CHAPTER 5: BIO PLASTICIZERS MARKET, BY APPLICATION
CHAPTER 6: BIO PLASTICIZERS MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, the bio plasticizers market was valued at $1.4 billion in 2022, and is estimated to reach $2.4 billion by 2032, growing at a CAGR of 5.5% from 2023 to 2032.Bio plasticizers find applications in the wire and cable industry as eco-friendly alternatives to traditional plasticizers. These bio-based plasticizers help enhance the flexibility, electrical properties, and overall performance of wires and cables while reducing the environmental impact. In the production of PVC (polyvinyl chloride) insulated cables, bio plasticizers are incorporated to improve the flexibility of the insulation material. This flexibility is crucial for the cable to bend, coil, and withstand installation stresses. Bio plasticizers are used in the jacketing of cables to provide protection against environmental factors such as moisture, UV radiation, and abrasion. The plasticizers enhance the jacket's flexibility, making it easier to handle and install.
Further, bio plasticizers are used in agricultural films, such as greenhouse films and mulching films. They enhance the flexibility of the films, making them easier to handle and install. These films help improve crop yield, protect plants from weather conditions, and conserve water resources. Besides, bio plasticizers play a crucial role in the production of biodegradable films. These films are designed to break down naturally over time, reducing plastic waste in the environment. They are used in applications such as compostable bags and food packaging. Moreover, bio plasticizers are used in plastic wraps and cling films to improve their clinginess and ease of use in preserving food freshness.
Moreover, in the construction industry, bio plasticizers are used in roofing membranes and waterproofing materials to enhance their flexibility, ensuring they conform to irregular surfaces and provide long-lasting protection. Moreover, bio plasticizers are incorporated into geomembranes used for environmental containment, such as landfill liners and pond liners. These plasticizers improve the flexibility and resistance to environmental stress cracking.
Bio plasticizers contribute to reducing the environmental footprint of packaging materials. They are biodegradable and compostable, which means they break down naturally over time, reducing the persistence of plastic waste in landfills and ecosystems. Moreover, as consumer preferences shift toward eco-friendly and sustainable products, packaging manufacturers are under pressure to meet these demands. Bio plasticizers help in the development of packaging materials that appeal to environmentally conscious consumers. Bio plasticizers are particularly well-suited for food packaging applications due to their food-safe nature and biodegradability. They are used in items such as food wraps, containers, and disposable cutlery. In addition, many regions have implemented regulations and standards related to packaging materials, with a focus on reducing the use of conventional plastics and promoting sustainable alternatives. Bio plasticizers help packaging manufacturers comply with these regulations. In addition, brand owners and consumer goods companies collaborate with packaging manufacturers to develop sustainable packaging solutions. This collaboration drives the adoption of bio plasticizers in the packaging industry. Consequently, rise in demand from packaging industry is expected to offer lucrative opportunities in the coming years.
However, the production process for bio plasticizers is more complex and costly compared to the production of conventional plasticizers, which are typically derived from readily available petroleum-based sources. Moreover, the cost and availability of bio-based feedstocks vary due to factors such as weather conditions, crop yields, and geographic location. This variability in feedstock prices has impacted the overall cost of producing bio plasticizers. Further, traditional plasticizer production has benefited from economies of scale over many years, leading to efficient and cost-effective manufacturing processes. Bio plasticizers, being a relatively newer technology, have not reached the same level of scale and cost efficiency, making them more expensive to produce. Thus, the above-mentioned factors are anticipated to hamper market growth. However, despite these cost-related challenges, the bio plasticizers market is working to address them through ongoing R&D efforts aimed at improving production efficiency and cost-effectiveness. In addition, as consumer awareness of environmental issues continues to grow, and as governments implement regulations favoring sustainable alternatives, the cost-competitiveness of bio plasticizers improves over time, driving greater adoption in various industries.
The bio plasticizers market is segmented on the basis of product, application, and region. By product, the market is categorized into epoxidized soybean oil (ESBO), castor oil-based plasticizers, citrates, succinic acid, and others. By application, the bio plasticizers market is classified into flooring & walls, film & sheet coverings, wires & cables, coated fabrics, consumer goods, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players in the bio plasticizers industry include Evonik Industries AG, Dow Chemical Company, Avient Corporation, Lanxess AG, MATRCA S.P.A., Vertellus, Emery Oleochemicals, Cargill, BASF SE, and DIC CORPORATION.
Key Market Insights:
By product, the epoxidized soybean oil (ESBO) segment domindominatedmarket in 2022.On the basis of application, the flooring and walls segment was the highest revenue contributor to the market in 2022.
Region wise, Asia-Pacific held the largest share of the global market in 2022.
Companies Mentioned
- Evonik Industries AG
- Vertellus
- Dow
- LANXESS
- BASF SE
- Emery Oleochemicals
- Matrca S.p.A.
- DIC CORPORATION
- Cargill, Incorporated.
- Avient Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 311 |
| Published | September 2023 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 1.4 billion |
| Forecasted Market Value ( USD | $ 2.4 billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
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