According to the latest report by IMARC Group “Bio-plasticizers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global bio-plasticizers market size reached US$ 1.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 1.8 Billion by 2027, exhibiting a growth rate (CAGR) of 6.4% during 2022-2027.
Bio-plasticizers comprise epoxidized plant oils, isosorbide esters and citrates, and cardanol. They are used to improve the flexibility, softness, texture, and functional properties of plasticized polymers. As they are non-toxic, eco-friendly, resistant to leaching, miscible and cost-effective, they are utilized in the manufacturing of wire jackets, cables, food packaging material, and medical equipment.
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Market Trends:
At present, there is a significant increase in the need for polyvinyl chloride (PVC) products around the world. This represents one of the key factors propelling the growth of the market. Bio-plasticizers are employed in the production of PVC products as they enhance the stability, safety, and effectiveness of electrical components. Moreover, on account of their ability to reduce the water requirement of the concrete and enhance the stability of building materials, they are widely adopted in the construction industry. Furthermore, leading players are using renewable plant-based feedstock for developing fast-acting bio-plasticizers. This is anticipated to fuel the market.
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
Market 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 with Key Player:
- 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
- Solvay S.A.
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