North America 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
The North America Bio Plasticizers Market would witness market growth of 7.8% CAGR during the forecast period (2024-2031). In the year 2020, the North America market's volume surged to 305.40 Kilo Tonnes, showcasing a growth of 12.6% (2020-2023).
Epoxidized Soybean Oil (ESBO) serves as a prominent bio plasticizer in the market, offering a sustainable alternative to traditional phthalate-based plasticizers. ESBO is derived from soybean oil through epoxidation, a process that introduces epoxy groups into the oil's structure. This modification enhances ESBO's plasticizing properties, making it an effective additive in polymer formulations to improve flexibility, durability, and thermal stability. Hence, the total consumption of Epoxidized Soybean Oil in the US Market was 130.94 Kilo Tonnes in 2023.
The US market dominated the North America Bio Plasticizers Market by Country in 2023 and would continue to be a dominant market till 2031; thereby, achieving a market value of $987.1 million by 2031. The Canada market is experiencing a CAGR of 9.9% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 9.3% during (2024 - 2031).
Bio plasticizers are plastic additives that improve their flexibility, workability, and durability. They are derived from renewable resources such as plant oils, corn, and sugarcane, making them more environmentally friendly than traditional plasticizers derived from fossil fuels. These are used in various industries, including construction, automotive, and packaging, as a safer and more sustainable alternative to conventional plasticizers.
The market is undergoing a significant transformation driven by increasing environmental concerns, regulatory pressure, and a growing demand for sustainable alternatives. Plasticizers are essential additives used in the production of plastics to improve their flexibility, workability, and durability. They are commonly added to PVC (polyvinyl chloride) and other polymer products to impart desired properties.
The rising demand for bio-plasticizers in North America can be attributed to several factors, including the region's significant automotive and packaging industries. Mexico, for example, is a key player in the automotive sector, ranking as the world's seventh-largest passenger vehicle manufacturer, with 3.5 million vehicles produced annually. Thus, its demand in North America is rising, driven by the region's significant automotive, packaging, and agriculture industries.
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 U.S., Mexico, Canada, and Rest of North America.
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
By Product (Volume, Kilo Tonnes, USD Billion, 2020-2031)
- Epoxidized Soyabean Oil (ESBO)
- Castor Oil-based Plasticizer
- Citrates
- Succinic Acid
- Others
- Packaging Materials
- Consumer Goods
- Automotive & Transport
- Building & Construction
- Textile
- Agriculture & Horticulture
- Others
- US
- Canada
- Mexico
- Rest of North America
- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Bio Plasticizers Market, by Product
- 1.4.2 North America Bio Plasticizers Market, by Application
- 1.4.3 North America 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. North America Bio Plasticizers Market by Product
- 4.1 North America Epoxidized Soyabean Oil (ESBO) Market by Country
- 4.2 North America Castor Oil-based Plasticizer Market by Country
- 4.3 North America Citrates Market by Country
- 4.4 North America Succinic Acid Market by Country
- 4.5 North America Others Market by Country
- Chapter 5. North America Bio Plasticizers Market by Application
- 5.1 North America Packaging Materials Market by Country
- 5.2 North America Consumer Goods Market by Country
- 5.3 North America Automotive & Transport Market by Country
- 5.4 North America Building & Construction Market by Country
- 5.5 North America Textile Market by Country
- 5.6 North America Agriculture & Horticulture Market by Country
- 5.7 North America Others Market by Country
- Chapter 6. North America Bio Plasticizers Market by Country
- 6.1 US Bio Plasticizers Market
- 6.1.1 US Bio Plasticizers Market by Product
- 6.1.2 US Bio Plasticizers Market by Application
- 6.2 Canada Bio Plasticizers Market
- 6.2.1 Canada Bio Plasticizers Market by Product
- 6.2.2 Canada Bio Plasticizers Market by Application
- 6.3 Mexico Bio Plasticizers Market
- 6.3.1 Mexico Bio Plasticizers Market by Product
- 6.3.2 Mexico Bio Plasticizers Market by Application
- 6.4 Rest of North America Bio Plasticizers Market
- 6.4.1 Rest of North America Bio Plasticizers Market by Product
- 6.4.2 Rest of North America 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
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