Report Overview

The Global bio plasticizers Market size is expected to be worth around USD 3.07 billion by 2032 from USD 1.41 billion in 2023, growing at a CAGR of 8.10% during the forecast period from 2023 to 2032.

Bio-plasticizers are made from vegetable materials. They can also be used to replace petroleum-based plasticizers. These additives can be made from ESBO or succinic acid, two of the most common raw materials. ESBO is a preferred additive for food packaging. It is especially used in PVC gaskets. BioAmber and Myriant are two of the largest succinic acid producers in North America. These are the main suppliers of raw materials for product manufacturers throughout the region. Bio-plasticizers can be used as additives to synthetic chemicals with low side effects, high safety, and high biodegradability.

Global Bio Plasticizers Market Segmentation Analysis

Product Analysis

In terms of ‘Product’, the ‘Epoxidized Soybean Oil’ (ESBO) segment dominated this market and accounted for 40% of all total revenues in 2021. Soybean oil is a light yellow vegetable oil that is made from soybeans. It is widely used in plasticizers as a stabilizer. ESBO is an additive that increases the reactivity in plasticizers. It works by oxidizing carbon-carbon double bonds found in vegetable oils.

The use of succinic acid to make plastic additives produces flexible PVC with comparable mechanical properties to DOA. They can be used to make bio-based additions that are phthalate-free and have a higher renewal rate than their synthetic counterparts.

Castor oil and its derivatives can be used to create flexible, semi-rigid, or rigid Bio – Plasticizers. It resists hydrolysis and pigment dispersion. It is compatible with polyether polyols. The biodegradable and bio-based citrates can be used to make PVC, PHA, or other biopolymers.

Global players are shifting their focus to sustainability in manufacturing and supply chains, which helps reduce carbon emissions, waste, energy, and other environmental impacts. Because it has lower adverse environmental impacts and offers high profits, recycled bio-based plastics are quickly gaining popularity.

Application Analysis

According to projections, in terms of ‘Application’, demand from the ‘Automotive & Transport’ segment is expected to grow at the fastest rate. Bio Plasticizers Market share analysis is expected to increase at a CAGR of over 9.0% between the forecast period 2023-2032. Bio plasticizers reduce fuel consumption and emissions by decreasing vehicle weight. The fabrics of automotive interiors are also made from plant-based plasticizers that have comparable mechanical properties to their synthetic counterparts. The additional benefits include improved stiffness, electrical properties, and dimensional stability as well as a higher gloss level and resistance to thermal shock.

The average growth rate of the market during forecast period for the ‘Packaging Materials’ segment is expected to be around 8.5% over the forecast period. An important role is played by these specialty additives in protective packaging, rigid and flexible food contact packaging industries, etc., as well as many other packaging options that can be used for different industries. Global packaging companies use sophisticated manufacturing techniques and flexible processes to tailor their products to customers’ specific needs, especially when it comes to food packaging. Bio-based materials can be used to preserve food and prolong its shelf-life. They also have higher barrier properties, such as oxygen resistance, antimicrobial, and moisture resistance.

Eco-friendly plastics can be used in agriculture and horticulture to produce eco-friendly tarpaulins. The rise in environmental constraints due to increasing carbon footprints, combined with better durability and improved finished product properties will lend synthetic plastics an edge.

The availability of abundant and easy-to-access renewable feedstock provides stable raw materials that support the transition from traditional PVC plastics into organic polymers. Countries in Europe and the U.S. are both mature economies that have been focusing on the use of eco-friendly products and fabrics in their textile and packaging industries.

Key Market Segments

• By Product
  • Castor Oil-Based Plasticizers
  • Epoxidized Soybean Oil (ESBO)
  • Succinic Acid
  • Citrates
  • Other Products
• By Application Segmentation
  • Consumer Goods
  • Packaging Materials
  • Building & Construction
  • Automotive & Transport
  • Other Applications

Market Dynamics

Castor and soybean oil are key raw materials for making bio-plasticizers. Linseed oil is another important ingredient. In the next few years, this industry will index an increase in the demand for bio-plasticizers. They are expected to be used in a wider range of industries including agriculture, construction, packaging, transportation, and textiles. Market growth is also expected to be driven by the high demand for non-phthalate and bio-plasticizers across diverse geographic regions and forecast periods.

Plasticizers are used to improve the properties and replace heavy metal components in automobiles. The use of plastic components for vehicle interiors as well as exteriors has reduced vehicle weight. This in turn has led to lower fuel consumption, and consequently, lower emissions. The use of bio-plasticizers in the automotive industry is comparatively high due to their environmental-friendly characteristics. Continuous advancements in bio-plasticizers have led to lower investment costs for R&D activities as well as product development and have substantially increased competitiveness in key markets around the world.

The penetration of packaging materials is high among all bio-plasticizer segments. Bio-based plastics play a major role in packaging for food, pharmaceutical, or beverage applications. In packaging beverages, consumer goods as well as toys and apparel, bio-plasticizer polymers are gradually replacing compounded plastics such as PC and PET. The growing consumption of bio-plasticizers in packaging is expected to be a key Factor market growth driver.

Greater awareness about the harmful effects of petroleum-based polymers has caused many U.S. customers to switch to green products, leading to a steady rise in this global market. These resins can alter the characteristics of a polymer for a particular purpose.

Regional Analysis

The Asia-Pacific was responsible for the largest Market Share Analysis of 43% in 2021 and is expected to continue growing in the years ahead. The highest contribution was made by China. China’s rapid industrialization combined with high levels of urbanization will likely boost the major countries market growth trajectory. The surging product demand in this major region is also due to the increasing use of bio-based packaging solutions from emerging economies such as India, Japan, and Taiwan. Market growth in the region is expected to increase due to a spike in construction activities and the increased demand for bio-plasticizers. India, China, South Korea, and Japan are major industrial nations that use bio-plasticizers to treat water, bleach their homes, and for chemical purposes. Growing population figures, combined with an increase in incomes and purchasing power parity have resulted in a strong

demand for consumer goods such as toys and household items. These factors are expected to drive the demand for bio-plasticizers in this region over the forecast period.

North America was the market leader due to its continued expansion and technological advances in the packaging, and consumer goods industries. The continued growth in North America’s bio-plasticizers market sector is also due to the booming auto & transport industry.

Europe is dominated by significant industrial economies like the UK and France. This has led to a growing number of market suppliers, as well as manufacturers of personal care products and pharmaceutical products. Bio plasticizers can be used as an additive in the production of cosmetic products, including lipsticks, shampoos, and soaps. European countries are expected to register a high demand for bio-plasticizers because of the large number of cosmetic and personal care manufacturing units.

Key Regions and Countries Covered іn this Rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Major Market Players Analysis:

Evonik Industries is one of many industry participants in the bioplasticizers market. Global Market Major Players such as Solvay SA, BASF SE, and Emery Oleochemicals LLC engage in product innovation, industrial collaborations, R&D initiatives, and technology & product innovation to expand their product portfolios. Industry players are likely to expand their market share analysis in emerging countries like India, Japan, and China over the forecast period. This industry is well-consolidated, with only a few companies accounting for significant market size and market share analysis. Many manufacturers are sensitive to commodity and energy prices. They also need to pay for raw material costs. This creates problems in earning high-profit margins due to the volatility of material prices in the global market sectors. Many companies have the ability to respond to signs of a larger turndown or inventory buildup by portfolio consolidation, restructuring, and temporary production process shutdowns.

Маrkеt Plауеrѕ:

• BASF SE
• Evonik Industries AG
• Solvay SA
• Dow Chemical Company
• PolyOne Corporation
• Emery Oleochemicals LLC
• Danisco US Inc.
• BioAmber Inc.
• vertellus holdings LLC
• Other Key Players

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For the Bio Plasticizers Market research study, the following years have been considered to estimate the market size: