According to a new market report published by Lucintel, the future of the bio-plasticizer market looks attractive with opportunities in the packaging, medical device, consumer goods, wire & cable, and building & construction industries. The global bio-plasticizer market is expected to reach an estimated $2.3 billion by 2027 with a CAGR of 7.7% from 2021 to 2027. The major drivers for this market are increasing demand for PVC, growing need for non-toxic alternative for phthalates plasticizer, stringent environment regulations, and increasing health concern.
In this market, various types of bio-plasticizer, such as ESBO (Epoxidized soybean oil), citrates, castor oil, and succinic acid are used as an additive in polymers to enhance flexibility, softness, and volatility. ESBO based bio-plasticizer will remain the largest material type and it is also expected to witness the highest growth over the forecast period due to restriction on phthalate plasticizer, ease of availability, and growth in packaging materials, medical devices, and consumer goods.
Within the bio-plasticizer market, packaging will remain the largest end use industry and it is also expected to witness the highest growth during the forecast period supported by increasing demand for eco-friendly plastics in the food and beverages, household products, personal care, and pharmaceutical packaging.
Asia Pacific will remain the largest region by value and volume and it is also expected to witness the highest growth over the forecast period, supported by increasing demand for PVC plastics in construction, automotive, packaging, food and medical industries in emerging countries, such as China and India.
Dow Chemical, Evonik Industries, Solvay, Lanxess, Polyone, Danisco, Emery Oleochemicals, Matrica, Myriant Corporation, Hebei plasticizers, Jiangxi East Huge Dragon Chemical, and Vertellus Specialties Inc. are among the major bio-plasticizer providers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global bio-plasticizer market by material type, end use industry, and region and has come up with a comprehensive research report titled “Growth Opportunities in the Global Bio-Plasticizer Market 2022-2027: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global bio-plasticizer by material type, end use industry, and region as follows:
By Material Type [Kilotons and $M shipment analysis from 2016 to 2027]:
ESBO
Citrates
Castor Oil
Succinic Acid
Others
By End Use Industry [Kilotons and $M shipment analysis from 2016 to 2027]:
Packaging Materials
Medical Devices
Consumer Goods
Wires & Cables
Building and Construction
Others
By Region [Kilotons and $M shipment analysis for 2016 – 2027]:
United States
Canada
Mexico
United Kingdom
Germany
France
Japan
China
South Korea
India
This 201-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/bio-plasticizer-market.aspx or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.