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2022
Bio Plasticizers Market

Bio Plasticizers Market

by Type (Epoxides, Sebacates, Succinic Acid, Citrates, Glycerol Esters, Others), by Application (Flooring and Walls, Film and Sheet Coverings, Wires and Cables, Coated Fabrics, Consumer Goods, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030

✷  Report Code: A01710
Pages: 228
May 2022 | 11854 Views
Author(s) : Prakhar Jain, Marpu Vinod , Yerukola Eswara Prasad
Tables: 130
Charts: 65
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Bio Plasticizers Market Research, 2030

The global bio plasticizers market was valued at $1.3 billion in 2020, and is projected to reach $2.1 billion by 2030, growing at a CAGR of 5.31% from 2021 to 2030.

The increase in demand for the e-commerce during the pandemic has created a huge demand for films and sheet covering used in packaging industries. The shutdown construction projects in developing countries, such as India lead to decline in demand for the bio plasticizers, which are utilized in the construction sector.

Bio Plasticizers Market, Bio Plasticizers Market Size, Bio Plasticizers Market Share, Bio Plasticizers Market Trend, Bio Plasticizers Market Growth, Bio Plasticizers Market Analysis, Bio Plasticizers Market Forecast, -, -, -

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Bio plasticizers are additives incorporated in a material to increase its flexibility, workability, tear resistance, and durability. These lower the second-order transition temperature of micro-molecules, elastic modulus, tensile strength, density, and hardness & melt viscosity of the material, thereby making it soft and resilient. Bio plasticizers also reduce polymer–polymer chain secondary bonding by spreading them apart, increasing the free volume, which enhances flexibility, elongation at break, toughness, power factor, and dielectric constant. An effective bio plasticizer is believed to contain two types of structural components, such as polar and non-polar. The polar component binds reversibly with the polymer, thereby softening it, while the non-polar part controls the polymer interaction to maintain its crystallinity.

Awareness among people for using sustainable and eco-friendly commodities, change in lifestyle, and increase in disposable income of consumers in Asia-Pacific, Middle East, and Latin America have led to increase in growth of consumer electronics and medical industries, making way for high market potential for bio plasticizers. Growth in population and urbanization in emerging economies, such as India and China, boost the construction activities and automobile production, which further drives the market growth. However, high cost of the bio plasticizers is expected to hamper the growth of the market. The R&D for bio plasticizers, which make it more beneficial & lesser in cost brings great opportunity for the global market during forecast period. Also, the ban imposed on some of the phthalates for certain products makes the key players add bio plasticizers in their portfolio.

The bio plasticizers market is segmented on the basis of type, application, and region.

On the basis of type, the market is categorized into epoxides, sebacates, succinic acid, citrates, glycerol esters, and others. According to application, it is divided into flooring & wall, film & sheet coverings, wires & cables, coated fabrics, consumer goods, and others (medical, sports, & adhesive & sealants applications). By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific region accounted for largest market share of the total revenue in 2020, followed by North America and Europe. The high adoption of plasticizer products in construction in this region is expected to continue to bolster the bio plasticizers market size, due to the presence of huge population base, rapid change in lifestyle among individuals, and presence of many developing countries in this region have significant impact on the market.

The key players operating in the global bio plasticizers market are Bioamber Inc., DuPont, DOW Chemical Company, Emery Oleochemicals, Evonik Industries, Lanxess AG, Matrìca S.p.A., Myriant Corporation, PolyOne Corporation, and Vertellus Holdings LLC. Other players in the value chain, such as Galata Chemicals, ROQUETTE, Jungbunzlauer Suisse AG, OXEA GmbH, Proviron, Jiangxi East Huge Dragon Chemical Co., Ltd., Hebei Jingu Plasticizer Co., Ltd., Jiangxi East Huge Dragon Chemical Co., Ltd., Suzhou Sunbo Chemical Building Materials Co., Ltd., and Binzhou Chengli Building Materials Co., Ltd. are competing for the share of the market through product launch, joint venture, partnership, and expanding the production capabilities to meet the future demand for the bio plasticizers market during the forecast period.

Bio Plasticizers Market
By Region

2030
Asia-pacific 
North America
Europe
Lamea

Asia-Pacific holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.

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Asia-Pacific dominates the bio plasticizers market and consists of countries such as the China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific. The Asia-Pacific construction sector is the largest globally and grows at a healthy rate, owing to the rise in population, increase in middle-class incomes, and urbanization. Increase in infrastructure construction activities and the entry of major players from the European Union into the lucrative market of China further fuel the industry’s expansion. Furthermore, the total new construction in Japan accounted for about 127.55 million square meters in 2019 and reached about 113.74 million square meters in 2020, with a decline rate of about 10.5%. Thus, this led to a decrease in bio-plasticizers' consumption for applications such as wire, cables, flooring, and wall coverings. Furthermore, restrictions on foreign investment in land development, high-end hotels, office buildings, international exhibition centers, and the construction and operation of large theme parks have also been lifted. The growth in the infrastructure and transportation sectors is expected to boost the bio-plasticizers market in the region during the forecast period. Moreover, according to the Packaging Industry Association of India (PIAI), India is becoming a preferred hub for the plastic packaging industry. The packaging industry is the fifth-largest sector in the Indian economy. In addition, the Indian government introduced the world's largest government-funded healthcare program, National Health Protection (NHP) Scheme in 2018. The healthcare market in the country is likely to witness a three-fold increase to $133.44 billion by 2022. This is because India experiences about 22%-25% growth in medical tourism. The above mentioned factors are major driving force for the development of the market in this region during the forecast period.

Bio Plasticizers Market
By Type

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Epoxides segment is projected to be the dominating segment during the forecast period.

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The epoxides segment dominates the global bio plasticizers market. Surge in the number of growth recorded in the packaging industry and increase in application in food packaging and medical devices are likely to enhance the growth of the epoxides in the bio plasticizers market during the forecast period. On the other hand, rise in demand for automotive across the globe is expected to further boost various opportunities that lead to the growth of the application of epoxides in the bio plasticizers market during the forecast period. The rapid development of the modern society and surge in the demand for e-commerce across the globe have positive impact on the packing industry, which augment the growth of the bio plasticizer market.

Bio Plasticizers Market
By Application

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Flooring and Walls is expected to be the most lucrative segment till 2030

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The flooring & wall segment dominates the global bio plasticizers market. Bio-plasticizers help in reducing water requirements and make concrete strong and workable. These are generally organic or a combination of organic and inorganic substances that help reduce water content for workability. In 2019, the total value of new construction put in place was about $1,365 billion in the U.S. and reached about $1,429 billion in 2020, with a growth rate of about 4.5%. Thus, this led to an increase in demand for flooring and wall covering, which, in turn, increased the demand for the bio-plasticizers. Thus, with the growing demand for the conservation of water resources, the usage of bio plasticizers is rapidly increasing in flooring and wall coverings, which drives the growth of the bio plasticizers market.

COVID-19 Impact Analysis:

COVID-19 has severely impacted the global economy with devastating effects on global trade, which simultaneously affects households, business, financial institution, industrial establishments, and infrastructure companies. The restrictions on international trade and lockdown regulations on the operations of the manufacturing industry are projected to decrease the demand for the market. The outbreak of pandemic has led to increase in demand for medical equipment and other medical devices where plasticizers are utilized. The increase in demand for the e-commerce during the pandemic has created a huge demand for films and sheet covering used in packaging industries. The shutdown construction projects in developing countries, such as India lead to decline in demand for the bio plasticizers, which are utilized in the construction sector.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the bio plasticizers market analysis from 2020 to 2030 to identify the prevailing bio plasticizers market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the bio plasticizers market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global bio plasticizers market trends, key players, market segments, application areas, and market growth strategies.

Bio Plasticizers Market Report Highlights

Aspects Details
By Application
  • Flooring and Walls
  • Film and Sheet Coverings
  • Wires and Cables
  • Coated Fabrics
  • Consumer Goods
  • Others
By Type
  • Sebacates
  • Succinic Acid
  • Citrates
  • Glycerol Esters
  • Others
  • Epoxides
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (U.K., Germany, France, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest Of Asia Pacific)
  • LAMEA  (UAE, Brazil, South Africa, Saudi Arabia, Rest of LAMEA)
Key Market Players EMERY OLEOCHEMICALS, EVONIK INDUSTRIES, LANXESS AG, MATRCA S.P.A., MYRIANT CORPORATION, BIOAMBER INC, DUPONT, DOW CHEMICAL COMPANY, POLYONE CORPORATION, VERTELLUS HOLDINGS LLC
 

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Bio plasticizers are additives that determine the physical properties of polymers and materials. These are chemicals and molecules that provide high performance for a variety of applications in a safe and sustainable way. Today, the industry witnesses a gradual transition to bio plasticizers as synthetic plasticizers are harmful to humans and the environment, leading to ban on some varieties of conventional plasticizers.

Epoxy occupies more than half of the global bio plasticizer market, and this trend is expected to continue during the forecast period due to its availability and excellent properties. Castor oil-based plasticizers, such as glycerine esters are expected to have the highest growth rates in post-epoxy sales. Increase in consumer demand for natural and organic additives in cosmetics fuels the industrial demand for bio plasticizers.

Rise in global economic growth is expected to lead to higher disposable income and improved lifestyles, promoting people's luxury. It is estimated to increase sales of end-use products for bio thermoplastics, such as automobiles, electronic devices, packaged foods, toys, and personal care products. Apart from this, the ban on phthalate-type synthetic plasticizers also supports the high growth rate of the global bio plasticizer market. Therefore, leading companies in the industry strive to eliminate harmful phthalates by including bio plasticizers in their product portfolio.

Asia-pacific covers more than half market share. In addition, this area is expected to grow with the best CAGR during the forecast period for rapid development of emerging economies, such as India, Korea and other countries.

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FREQUENTLY ASKED QUESTIONS?

A. Upsurge in demand for flexible PVC and ban on certain plasticizers are the key factors boosting the Bio Plasticizers Market growth

A. The market value of Bio Plasticizers in 2030 is US$ 2.1 Billion

A. Bioamber Inc., DuPont, DOW Chemical Company, Emery Oleochemicals, Evonik Industries, Lanxess AG, Matrìca S.p.A., Myriant Corporation, PolyOne Corporation, and Vertellus Holdings LLC.

A. Construction industry is projected to increase the demand for Bio Plasticizers Market

A. The bio plasticizers market is segmented on the basis of type, application, and region. On the basis of type, the market is categorized into epoxides, sebacates, succinic acid, citrates, glycerol esters, and others. According to application, it is divided into flooring & wall, film & sheet coverings, wires & cables, coated fabrics, consumer goods, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

A. Ongoing research on bio-based plasticizers is the Main Driver of Bio Plasticizers Market

A. Flooring & walls and wires & cables end-use applications are expected to drive the adoption of Bio Plasticizers

A. The increase in demand for the e-commerce during the pandemic has created a huge demand for films and sheet covering used in packaging industries. The shutdown construction projects in developing countries, such as India lead to decline in demand for the bio plasticizers, which are utilized in the construction sector.

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