Bio-plasticizers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Bio-plasticizers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global bio-plasticizers market size reached US$ 1.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1.9 Billion by 2028, exhibiting a growth rate (CAGR) of 6.5% during 2022-2028.

Bio-plasticizers refer to biologically derived additives used for improving the flexibility, softness, texture, functional properties and volatility of plasticized polymers. Some of the commonly used bio-plasticizers include epoxidized plant oils, cardanol, isosorbide esters and citrates. They are derived from vegetable raw materials, such as soybean, palm, castor oil, citrates, stearic acid, starch, biomass, agricultural products and waste materials. In comparison to the traditionally used phthalates, bio-plasticizers are non-toxic, environment-friendly, resistant to leaching, miscible and highly cost-effective. As a result, they are extensively used for the manufacturing of polyvinyl chloride (PVC) cables and resins, wire jackets, cables, food packaging material, medical equipment and automobile components.

Bio-plasticizers Market Trends:

A significant increase in the demand for PVC products across the globe is one of the key factors driving the market growth. Bio-plasticizers are widely used in the manufacturing of PVC products to enhance the stability, safety and effectiveness of flexible sheets and films, coated fabrics and electrical components. Moreover, the imposition of a ban on the use of phthalate-based plasticizers to produce consumer goods, food packaging materials and medical devices is providing a thrust to the market growth. In line with this, the widespread adoption of bio-plasticizers in construction materials is also contributing to the growth of the market. Bio-plasticizers aid in reducing the water requirement of the concrete and increasing the functional stability of other building materials. They are also highly effective in thermo-insulation panels, architectural molds and sculptures that require high-quality adhesives and sealants. Additionally, the development of fast-acting bio-plasticizers using rapidly renewable plant-based feedstock with enhanced productivity, minimal defects and enhanced biodegradability, are favoring the market growth. Other factors, including rising environmental consciousness among the masses, along with the implementation of favorable government policies promoting sustainable development, are anticipated to drive the market toward growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global bio-plasticizers market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product and application.

Breakup by Product:

Epoxidized Soybean Oil (ESBO)

Castor Oil-Based Plasticizers

Citrates

Succinic Acid

Others



Breakup by Application:

Packaging Materials

Consumer Goods

Automotive and Transport

Building and Construction

Textiles

Agriculture and Horticulture

Others



Breakup by Region:

North America

United States

Canada

Asia-Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa



Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Avient Corporation, BASF SE, DIC Corporation, Dow Inc., DuPont de Nemours Inc., Emery Oleochemicals LLC, Evonik Industries AG, Lanxess AG, Matrica S.p.A., OQ Chemicals GmbH, Roquette Freres and Solvay S.A.

Key Questions Answered in This Report

1. What was the size of the global bio-plasticizers market in 2022?

2. What is the expected growth rate of the global bio-plasticizers market during 2023-2028?

3. What are the key factors driving the global bio-plasticizers market?

4. What has been the impact of COVID-19 on the global bio-plasticizers market?

5. What is the breakup of the global bio-plasticizers market based on the product?

6. What is the breakup of the global bio-plasticizers market based on the application?

7. What are the key regions in the global bio-plasticizers market?

8. Who are the key players/companies in the global bio-plasticizers market?