DUBLIN--(BUSINESS WIRE)--The "Bio Plasticizers Market by Type, by Application - Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.
The Global Bio Plasticizers Market was valued at USD 1.55 billion in 2019 and is projected at USD 2.11 billion, expanding at a CAGR of 2.7% during the forecast period, from 2020 to 2030.
In terms of volumetric sale, the market was estimates at 2,148.7 kilotons in 2019 and is expected to reach 3,089.6 Kilotons by 2030, at a CAGR of 3.3% from 2020 to 2030.
Bio plasticizers are bio-based polymer additives obtained from castor oil, soybean, stearic acid, starch, palm oil, and others such vegetable raw materials. These are renewable sources, available in abundance and thus do not cause carbon emission. Bio plasticizers improve the flexibility, softness, workability, and volatility of the plasticized materials. Bio plasticizers can replace phthalate in applications such as packaging, medical devices, toys, personal care products, and other products.
Market Dynamics and Trends:
The growth of global bio plasticizers market is attributable to the factors such as stringent regulations regarding the use of phthalate-based plasticizers, increasing demand for polyvinyl chloride (PVC) in a wide range of applications, growing demand for bio-based plastic films in the food and packaging industries, and inclination of key players toward sustainable manufacturing processes through the use of eco-friendly raw-materials.
Bio plasticizers are widely used in the building & construction industry, especially in architectural molds, thermal insulation panels, sculptures, and other construction materials such as adhesives, bonding agents, flooring, sealants, and roofing supplies. The building & construction segment is expected to fuel the growth of bio plasticizers market during the forecast period.
However, high cost of raw materials used to produce bio plasticizers is impeding the growth of the market. On the other hand, rising research & development activities, growing application of bio plasticizers in emerging economies, and inclination towards sustainable development are expected to create opportunities in the market.
Market Segmentations and Scope of the Study:
The global bio plasticizers market is segmented based on type, application, and geography. On the basis of type, the market is segregated into epoxides, sebacates, succinic acid, citrates, glycerol esters, and others. In terms of application, the market is divided into flooring & wall, film & sheet coverings, wires & cables, coated fabrics, consumer goods, and others. Based on region, the global bio plasticize market is classified as North America, Europe, Asia-Pacific, and Rest of the World (RoW).
Geographical Analysis
North America is expected to dominate the global bio plasticizers market due to the ban on phthalates, which in turn has boosted the adoption of these plasticizers. Also, surge in demand for eco-friendly bio-films from the food & packaging industry is expected to propel the market in this region.
Europe is expected to hold a significant share of the market during the forecast period owing to the increasing government investments and growing demand for bio-plasticizers by the personal care product and consumer goods manufacturers.
The market in Asia-Pacific is expected to grow at a substantial CAGR during the forecast period due to growing awareness among consumers regarding bio-degradable and eco-friendly plasticizers, huge investment in R&D activities, increasing government initiatives to produce effective and low-cost bio-plasticizers.
Competitive Landscape
Key players in the bio plasticizers market include Bioamber Inc., DuPont, DOW Chemical Company, Emery Oleochemicals, Evonik Industries, Lanxess AG, Matrica S.p.A., Myriant Corporation, PolyOne Corporation, and Vertellus Holdings LLC.
In February 2020, Lanxess AG introduced 'Vegan LANXESS processing promoter' to ensure the reduction of carbon-footprints in the production process of tiers. Aktiplast PP-veg, a vegetable raw material-based processing promoter for polymer blends, which can be used to manufacture tires and other types of technical rubber articles.
Key Topics Covered:
1. Introduction
2. Market Snapshot, 2019-2030 Million USD
2.1. Market Snapshot
3. Porter's Five Force Model Analysis
4. Market Dynamics
4.1. Growth Drivers
4.2. Challenges
4.3. Opportunities
5. Global Bio Plasticizers Market, by Type
5.1. Overview
5.2. Epoxides
5.3. Sebacates
5.4. Succinic Acid
5.5. Citrates
5.6. Glycerol Esters
6. Global Bio Plasticizers Market, by Application
6.1. Overview
6.2. Flooring & Wall
6.3. Film & Sheet Coverings
6.4. Wires & Cables
6.5. Coated Fabrics
6.6. Consumer Goods
7. Global Bio Plasticizers Market, by Region
8. Company Profiles
8.1 Company Overview
8.2 Company Snapshot
8.3 Operating Business Segments
8.4 Product Portfolio
8.5 Business Performance
8.6 Key Strategic Moves and Development
- DuPont
- Bioamber Inc.
- DOW Chemical Company
- Evonik Industries
- Emery Oleochemicals
- Lanxess AG
- Myriant Corporation
- Matrica S.p.A.
- PolyOne Corporation
- Galata Chemicals
- Vertellus Holdings LLC.
- ROQUETTE
- OXEA GmbH
- Jungbunzlauer Suisse AG
- Proviron
- Hebei Jingu Plasticizer Co., Ltd
- Jiangxi East Huge Dragon Chemical Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/4igt7s
