Global Bio Plasticizer Market, By Type (Epoxidized Soybean Oil (ESBO), Castor Oil-Based Plasticizers, Citrates, Succinic Acid, Others) By Applications (Packaging materials, Consumer goods, Automotive & transport, Building & construction, Textiles, Agriculture & horticulture, Others) By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2025
Market Analysis :
The Global Bio Plasticizer Market accounted for USD 1.45 billion in 2017 and is projected to grow at a CAGR of 3.5% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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Plasticizers are compounds are used in a polymer matrix to increase its flexibility and improve the chemical properties of the plastic product. Addition of a plasticizer can lower the glass transition temperature; melt viscosity and elastic modulus of the polymer. In 2015, phthalate-based plasticizer represented 85% of the total plasticizers market. In order to assure sustainability end users are looking for safe, bio-degradable and non-phthalate-based plasticizers. Bio-based plasticizers are widely used as additives in PVCs. They are used in PVC resins, PVC cables, vinyl flooring, wire jacketing, automobile parts and others application. The use of bio-plasticizers for wire applications can enable cable manufacturers and original equipment manufacturers (OEMs) reduce carbon gas emission by up to 40%. Furthermore, plasticizers are the most commonly used additives used in plastic industries. Bio-based plasticizers are produced from vegetable and are used as an alternative of petroleum based plasticizers. The raw material used for production of bio-plasticizers is castor oil, soybean oil, palm oil and starch. Epoxidized soybean oil (ESBO) is one of the most preferred additives in PVC gasket used particularly in food packaging.
Major Market Drivers:
• Stringent norms & regulations
• High demand for PVC in various application
• Growing demand in developing countries
• Bio plasticizers help in reducing carbon footprint
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• High cost of bio plasticizers
• Environmental guidelines, protocols, and blending policies
• The bio plasticizer market is segmented on the basis of type into epoxidized soybean oil (ESBO), castor oil-based plasticizers, citrates, succinic acid and others.
• The bio plasticizer market is segmented on the basis of application into packaging materials, consumer goods, automotive & transport, building & construction, textiles, agriculture & horticulture and others.
• On the basis of geography, the bio plasticizer market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
The global bio plasticizer market is fragmented with the presence of a large number of players across different regions. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Major Market Competitors:
Top 30 Players In Market
• The Dow Chemical Company,
• Evonik Industries,
• Solvay S.A.,
• Lanxess AG,
• Bioamber Inc.,
• Danisco Us Inc.,
• Emery Oleochemicals LLC,
• Matrica SPA,
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