Bio Plasticizers Market Share, Size, Trends & Industry Analysis Report [By Product Type (Epoxidized Soybean Oil (ESBO), Citrates, Castor Oil, Succinic Acid, Glycol Esters), By Application (Packaging Materials, Consumer Goods, Building & Construction, Automotive, Medical Devices, and Others), By Regions] Segments & Forecast, 2019 – 2026
The Global Bio-Plasticizers Market is estimated to grow at a CAGR of ~8.8% during the forecast period 2019-2026, As per the analysis, the global market is estimated to grow from $1,088.5 million in the year 2018 to $2.11 billion by the end of the year 2026. Bio-Plasticizers are type of polymer additives that are used to boost the performance of plasticized materials considering its properties such as flexibility, workability and softness. It is obtained from chemically modified renewable products such as soybean oil, palm oil, castor oil, and starch. Its applications include plasticize of materials such as polybutadiene, polyvinyl chloride (PVC) and others.
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The global bio plasticizer market is driven by various growth driving factors such as increasing application of PVC products in various end-uses. Bio Plasticizer use less amount of water while its application on flooring and wall coverings, it reduces water requirement and make strong concrete. Furthermore, the global market is majorly dependent upon technological advancements, due to various types of demands of end-use industries related to product versatility and specifications.
Additionally, increasing disposable income and evolving lifestyles of regional population is giving a rapid boost to the market. The wide application of bio plasticizers in personal care product, packaging materials, cars, electronic equipment and toys among others support the market growth form the various end-use application.
Segmentation Overview of the Global Bio Plasticizer Market
The Global Bio Plasticizer Market is segmented on the basis of Product and Application. These market segments are further categorized into various sub-segments to study the market in detail.
The Product Segment of the Global Bio Plasticizer Market is Sub-Segmented into:
- Epoxidized Soybean Oil (ESBO)
- Castor oil
- Succinic Acid
- Glycol Esters
The Application Segment of the Global Bio Plasticizer Market is Sub-Segmented into:
- Packaging Materials
- Building and Construction
- Consumer Goods
- Medical Devices
Geographical Overview of the Global Bio Plasticizers Market
On the basis of geographical segmentation, the global bio plasticizers market was studied across North America (U.S., Canada); Europe (Germany, UK, France); Asia Pacific (China, India, Japan); Latin America (Brazil, Mexico); Middle East & Africa. As per the analysis, Asia-Pacific is expected to record the fastest growth considering the market volume and sales revenue. The regional growth is due to boosting economy of region’s developing countries and increase in sales in end-use industries of the regions. On the other side, North America is highly significant region in the global market, due to technological advancement in the consumer goods and packaging industry. Also, the region accounted as the promising market, owing to continuous growth of the manufacturing industry in the region. Continuous and stable domestic demand coupled with stringent regulations also promotes the demand of bio plasticizers.
Key Players Insights
Vertellus Holdings LLC, Myriant Corporation, Hebei Jingu Plasticizer Co. Ltd., Polyone Corporation, BioAmber, Inc., BASF SE, Danisco US Inc., Evonik Industries, Dow DuPont, Emery Oleochemicals LLC and Lanxess AG are some major players included in the research study of the global bio plasticizers market. The global market is highly competitive in nature with high-brand differentiation. The global market is flourished with large number of raw material suppliers.
Key Topics Covered
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