The Bio Plasticizer market is projected to grow by USD 803.8 Million from 2024-2028, driven by AI and expanding applications of bio plasticizers across industries, transforming the market - Technavio

Oct 23, 2024, 14:30 ET

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NEW YORK, Oct. 23, 2024 /PRNewswire/ -- Report with the AI impact on market trends - The Global Bio Plasticizer Market size is estimated to grow by USD 803.8 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 6.19% during the forecast period.Rise in number of applications of bio plasticizers across different industries is driving market growth, with a trend towards technological advancements of bio plasticizers. However, high cost of production of bio plasticizers poses a challenge - Key market players include ACS Technical Products, ARD, Avient Corp., BASF SE, Cargill Inc., DIC Corp., Dow Inc., Emery Oleochemicals Group, Evonik Industries AG, Goldstab Organics Pvt. Ltd., Grupo Princz IPASA, Hebei Jingu Co. Ltd, India Glycols Ltd., Jungbunzlauer Suisse AG, Lanxess AG, Matrica S.p.A, OQ Chemicals GmbH, Roquette Freres SA, Solvay SA, Valtris Specialty Chemicals, and Zhejiang Jiaao Enprotech Stock Co Ltd.

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Bio Plasticizer Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 - 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 6.19%

Market growth 2024-2028

USD 803.8 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.36

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 34%

Key countries

US, Germany, China, Japan, and France

Key companies profiled

ACS Technical Products, ARD, Avient Corp., BASF SE, Cargill Inc., DIC Corp., Dow Inc., Emery Oleochemicals Group, Evonik Industries AG, Goldstab Organics Pvt. Ltd., Grupo Princz IPASA, Hebei Jingu Co. Ltd, India Glycols Ltd., Jungbunzlauer Suisse AG, Lanxess AG, Matrica S.p.A, OQ Chemicals GmbH, Roquette Freres SA, Solvay SA, Valtris Specialty Chemicals, and Zhejiang Jiaao Enprotech Stock Co Ltd

Market Driver

The bio plasticizer market is experiencing significant growth due to technological advancements in this field. Companies are investing heavily in research and development to create eco-friendly, sustainable, and high-performing bio plasticizers. Key trends include the use of epoxidized vegetable oils, cardanol derivatives, and isosorbide plasticizers, which offer improved thermal stability, efficiency, and biodegradability. Major players like Evonik Industries AG and Cargill Inc. Are leading the way with innovative solutions, such as Evonik's bio plasticizers that are compatible with various polymers and have low migration and volatility rates. Dow Inc.'s Ecolibrium bio plasticizers, derived from vegetable oils, reduce carbon footprints and maintain desirable performance for various applications. These advancements will continue to drive the growth of the global bio plasticizer market in the coming years.

The Bio Plasticizer Market is experiencing significant growth due to increasing trends towards sustainable practices and resource efficiency in various industries. Textile manufacturers are turning to eco-friendly plastics for producing sustainable fabrics. Sustainable production of bio-based packaging and consumer goods is also on the rise, driven by consumer demand for eco-friendly alternatives. Bio-based plasticizers such as epoxidized soybean oil, citrates, castor oil, and glycol esters are gaining popularity due to their biodegradability and lower carbon footprint. These materials offer flexibility, durability, and workability, making them suitable for use in a wide range of applications. Environmental and health concerns have led to a ban on single-use plastics, driving demand for compostable products made from plant-based materials like starch and vegetable oils. The circular economy is also a key trend, with a focus on reducing waste and pollution through landfilling reduction and food loss prevention. Regulatory support for eco-friendly plastics, thermal stability, compatibility, and production complexity are important factors influencing market growth. Biodegradability, non-toxicity, and regulatory compliance are crucial considerations for companies seeking to meet consumer demands for sustainable and eco-friendly alternatives. The medical device industry is also adopting bio-based plasticizers for producing eco-friendly and biocompatible products. E-commerce is another sector driving growth, as consumers increasingly demand sustainable and compostable packaging solutions.

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Segment Overview

This bio plasticizer market report extensively covers market segmentation by

1.1 Epoxidized Soybean Oil (ESBO)- The Bio Plasticizer market is growing due to increasing demand for eco-friendly products. Businesses are shifting from traditional plasticizers to bio-based alternatives. Bio plasticizers are derived from renewable resources such as vegetable oils and fruits. They offer similar performance to petroleum-based plasticizers but with the added benefit of being biodegradable. This trend is expected to continue as regulations push for sustainable manufacturing processes. Companies are investing in research and development to improve the production and performance of bio plasticizers.

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Research Analysis

The Bio Plasticizer market is witnessing significant growth due to the increasing demand for sustainable practices in various industries, particularly in textiles and consumer goods. Resource efficiency and waste reduction are key drivers as the world grapples with pollution issues. Bio-based packaging is gaining popularity as an eco-friendly alternative to traditional plastics, reducing the need for landfilling and addressing food loss. Epoxidized soybean oil and vegetable oils are commonly used as bio-plasticizers in the production of eco-friendly plastics. Biodegradable plastics made from plant-based materials offer flexibility, durability, and workability, making them suitable for various packaging applications. Environmental and health concerns, as well as regulatory requirements, are pushing the market towards sustainable solutions. The market for bio-plasticizers is expected to grow as consumers become more environmentally aware and demand eco-friendly alternatives, including in medical devices.

Market Research Overview

The Bio Plasticizer Market is witnessing significant growth due to the increasing demand for sustainable practices in various industries. Resource efficiency and waste reduction are key focus areas as concerns over pollution continue to mount. Bio-based packaging and eco-friendly plastics are gaining popularity in consumer goods industries, as consumers become more environmentally aware. Composting infrastructure and landfilling reduction are also driving the market, as biodegradable plastics become a viable alternative to single-use plastics. Food loss is another area where bio plasticizers are making an impact, as they are used in flexible packaging to extend the shelf life of perishable goods. Epoxidized soybean oil, polyvinyl chloride, and other vegetable oils, starch, and plant-based materials are popular bio plasticizers. Flexibility, durability, and workability are essential factors in their selection. Environmental and health concerns are also driving the market, as biodegradable plastics offer a more sustainable alternative to traditional plastics. Regulatory support for eco-friendly alternatives is increasing, with a growing number of countries implementing bans on single-use plastics. The circular economy is another trend driving the market, as companies seek to reduce their carbon footprint and promote sustainable production. Bio plasticizers are also used in non-packaging applications such as medical devices, flooring, wall coverings, and bio-fertilizers. Continuous innovation in the field is driving the market, with new bio plasticizers such as citrates, castor oil, succinic acid, glycol esters, and other non-toxic materials being developed. The market is expected to continue growing as consumers and businesses seek more sustainable and eco-friendly alternatives to traditional plastics. The packaging industries are a significant consumer of plasticizers, with continuous innovation and the need for eco-friendly alternatives driving demand. E-commerce and lifestyle improvement are also contributing to the growth of the market, as consumers seek convenient and disposable packaging options. Water conservation is another area where bio plasticizers are making an impact, as they are used in the production of eco-friendly chemicals and polymers. In conclusion, the Bio Plasticizer Market is experiencing significant growth due to the increasing demand for sustainable practices, resource efficiency, and waste reduction. Biodegradable plastics offer a viable alternative to traditional plastics, and the market is expected to continue growing as consumers and businesses seek more eco-friendly and sustainable solutions. The use of vegetable raw materials, continuous innovation, and regulatory support are key factors driving the market.

Table of Contents:

1 Executive Summary2 Market Landscape3 Market Sizing4 Historic Market Size5 Five Forces Analysis6 Market Segmentation

7 Customer Landscape8 Geographic Landscape9 Drivers, Challenges, and Trends10 Company Landscape11 Company Analysis12 Appendix

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SOURCE Technavio