Bio-Plasticizers Market Overview:
Global Bio Plasticizers Market size and share is currently valued at USD 2.73 billion in 2023 and is anticipated to generate an estimated revenue of USD 5.90 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 9.0% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2024 – 2032
Key Market Drivers:
- Shift Towards Sustainable Materials: Growing environmental concerns and regulatory pressures are encouraging the replacement of traditional plasticizers with bio-based alternatives, propelling the bio-plasticizers market.
- Health and Safety Regulations: Increased awareness of the health risks associated with conventional plasticizers has led to a preference for bio-plasticizers, which are perceived as safer and more environmentally friendly.
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Bio-Plasticizers Market Scope:
The bio-plasticizers market focuses on eco-friendly plasticizers derived from renewable resources. These materials are used to enhance the flexibility and durability of plastics in applications like packaging, medical devices, and consumer goods. The scope covers various types of bio-based plasticizers, including epoxidized soybean oil and citrates. Growing environmental concerns and regulatory frameworks promoting non-toxic and sustainable alternatives are driving this market’s expansion.
Key Companies in Bio-Plasticizers Market:
• ACS Technical Products
• Avient Corporation
• BASF SE
• Cargill, Incorporated
• DIC CORPORATION
• Dow
• Emery Oleochemicals
• Evonik Industries
• GOLDSTAB ORGANICS PVT LTD
• JIAAO ENPROTECH
• Jungbunzlauer Suisse AG
• LANXESS
• Matrìca S.p.A.
• Roquette Frères
• Solvay
• Valtris Specialty Chemicals
Bio-Plasticizers Market Segmentation:
The bio-plasticizers market is segmented by type into epoxidized soybean oil (ESBO), castor oil-based plasticizers, and others. Application areas include flooring, wall coverings, wires, cables, films, and medical products. The end-use industries span construction, automotive, packaging, and healthcare. Regional segmentation comprises North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Construction dominates due to the demand for sustainable materials in flooring and wall applications. The automotive sector is growing as manufacturers transition to eco-friendly materials, especially in Europe and North America. Increased regulation against phthalates drives adoption of bio-plasticizers in medical and packaging sectors.
Bio Plasticizers Market, Product Outlook (Revenue – USD Billion, 2019-2032)
- Epoxidized Soybean Oil (ESBO)
- Citrates
- Castor oil
- Succinic Acid
- Glycol Esters
- Others
Bio Plasticizers Market, Application Outlook (Revenue – USD Billion, 2019-2032)
- Packaging Materials
- Building and Construction
- Consumer Goods
- Automotive
- Medical Devices
- Others
Bio-Plasticizers Industry Developments:
- March 2024: Baerlocher USA announced a partnership with Innoleics, a U.S.-based company specializing in bio-based plasticizers. As part of this collaboration, Baerlocher USA will serve as the distributor of Innoleics’ bio-based plasticizers, designed for flexible polyvinyl chloride (PVC) applications in the U.S. market.
- October 2021: Cargill expanded its bio-industrial solutions portfolio by launching BioveroÔ, a bio-based plasticizer. This innovative product is used in the production of flooring, clothing, wires, cables, and plastic films and sheets. Initially available to industrial customers in North America, the company plans to extend its availability globally.
- April 2021: BASF introduced a new range of biomass-balanced (BMB) plasticizers, including Hexamoll DINCH BMB, Palatinol N BMB, Palatinol 10-P BMB, and Plastomoll DOA BMB. These plasticizers, derived from renewable raw materials, highlight BASF’s commitment to sustainable production using renewable feedstock.
The market for bio plasticizers is witnessing substantial growth, propelled by the growing environmental consciousness and the need for sustainable and environmentally friendly products. As industries and consumers become more aware of the environmental impact of traditional plasticizers, there is a noticeable move towards bio-based alternatives.