Bio Plasticizers Market Trend, Share, Growth, Size, Analysis and Forecast 2032

Bio Plasticizers Market: Industry Perspective

The global Bio Plasticizers market size accrued earnings worth approximately USD 3.14 Billion in 2023 and is predicted to gain revenue of about USD 6.60 Billion by 2032, is set to record a CAGR of nearly 8.60% over the period from 2024 to 2032.

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Plasticizers are compounds incorporated in the polymer matrix to increase flexibility and enhance the chemical properties of the plastic product. Moreover, plasticizer melts viscosity and decreases glass transition temperature and elastic modulus of polymers. Previously, phthalate-based plasticizer contributed more than 80% share in the overall plasticizers market. Stringent government regulations and growing health concerns among consumers is expected to fuel the bio plasticizers market in the upcoming years. Various end-user industries are searching for safe, non-phthalate-based, and biodegradable plasticizers for ensuring sustainability. Bio plasticizers are additives with low side effects as compared to synthetic chemicals. These offer high safety and possess increased levels of biodegradability. The escalating demand for bio-based materials in myriad industries is predicted to further drive this market in the future. These green polymers are widely used in the manufacturing of surface coatings for cables and polymers and find application in the form of additives in the plastic industry.

Bio plasticizers are extensively used for architectural molds and sculptures, thermal insulation panels, and other construction materials, which include adhesives, sealants, bonding agents, and flooring and roofing supplies. Bio plasticizers are polymer additives used to enhance flexibility, softness, and volatility of plasticized materials. These are based on renewable resources and produced from raw materials, such as castor oil, palm, citrates, starch, soybean, and stearic acid. Bio plasticizers come in different types, among which Epoxidized soybean oil and castor oil-based types are mostly preferred. These are some factors expected to drive the bio plasticizers market in the future.

Bio Plasticizers Market Outlook

A plasticizer is a chemical added to polymeric materials to aid in processing and provide plasticity, flexibility, softness, and reduce brittleness. The additives are widely used in many applications such as PVC cable, PVC resins, wire jacketing, vinyl flooring, medical equipment, vehicle parts, packaging materials, and consumer goods.

The anticipated expansion of the bio plasticizer market in the forecast period is mostly driven by the increasing demand in developing countries. Moreover, the increasing demand for PVC and the use of plasticizers are expected to drive the growth of the bio plasticizer market. Additionally, the stringent regulations are expected to support the growth of the bio plasticizer market. The increased cost is expected to hinder the growth of the bio plasticizer market over the specified timeframe.

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Bio Plasticizers Market: Report Scope

Bio Plasticizers Market Segmentation

The study provides a decisive view of the bio plasticizers market by segmenting the market based on product, application, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2018 to 2024.

Bio Plasticizers Market Regional Analysis

Asia-Pacific leads the bio plasticizer market because of the increasing urbanization. The rapid industrialization and rising use of bio-based packaging materials in the advancing industry would enhance the expansion of the bio plasticizer market in the area during the forecast period. North America is expected to experience substantial expansion in the bio plasticizer market because of advancements in technology in the packaging and consumer goods sectors. In addition, the expanding automotive and transport industry is expected to drive the expansion of the bio plasticizer market in the region in the near future.

The regional segmentation includes the historic and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. This segmentation includes demand for bio plasticizers market based on all segments in all the regions and countries.

Some key players operating in the global bio plasticizers market include

• Vertellus Specialties Inc.
• The Dow Chemical Company
• Danisco A/S
• Solvay S.A.
• Evonik Industries AG
• BioAmber Inc.
• Emery Oleochemicals LLC
• Lanxess AG
• PolyOne Corporation
• Myriant Corporation
• and Matrica S.p.A., among others.

This report segments the global bio plasticizers market as follows:

By Product Segments

• Epoxidized Soybean Oil (ESBO)
• Castor Oil-Based Plasticizers
• Citrates
• Succinic Acid
• Others

By Application Segments

• Packaging Materials
• Medical Devices
• Consumer Goods
• Wires & Cables
• Building & Construction
• Others

By Regional Segments

• North America

  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa