BioPlasticizers Market
The Global BioPlasticizers Market size valued to USD 1.55 billion, pegged a volumetricsale of 2,148.7 kilotons in 2019, and is predicted an elevation of USD 2.11billion, with an increase in volumetric sale up to 3,089.6 Kilotons by 2030,growing with a respective CAGR of 2.7% and 3.3% from 2020-2030.
Bio Plasticizers are bio-based polymer additivesobtained from castor oil, soybean, starch, palm oil, and other such vegetableraw materials. These are renewable in nature and tend towards sustainabledevelopment of the ecosystem, reducing the carbon footprints. Bio plasticizersfunctions towards the improvement of flexibility, softness, workability, andvolatility of the plasticized materials. Based on modifications of thebase-materials, the bio plasticizers can be internal or external. Bioplasticizers can easily replace phthalate from packaging, medical devices,toys, personal care products and many such products.
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MarketDynamics and Trends:
Theglobal bio plasticizers market is observing a lucrative growth due to stringentregulations regarding ban on phthalate-based plasticizers, increasing demandfor polyvinyl chloride (PVC) in a wide range of applications at differentindustrial verticals, growing demand for bio-based plastic films in the food& packaging industries, as well as inclination of key players towardssustainable manufacturing processes, using eco-friendly raw-materials.
Besides,bio plasticizers hold wide application in the building & constructionindustry, majorly in architectural molds, thermal insulation panels,sculptures, and other construction materials like adhesives, bonding agents,flooring, sealants, and roofing supplies. Hence, the building &construction segment is expected to supplement the bio plasticizers marketgrowth in future.
Market Segmentations andScope of the Study:
Theglobal bio plasticizers market share analysis is based on type, application,and geography.
Basedon type, the market is segmented into Epoxides, Sebacates, Succinic Acid,Citrates, Glycerol Esters, and Others. Based on application, the market isdivided into Flooring & Wall, Film & Sheet Coverings, Wires &Cables, Coated Fabrics, Consumer Goods, and Others. Geographic breakdown andanalysis of each of the previously mentioned segments include regionscomprising North America, Europe, Asia-Pacific, and RoW.
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Geographical Analysis:
NorthAmerica is expected to dominate the global bio plasticizers market, accountingfor the highest market shares. This is attributed to stringent regulationsregarding ban of phthalates, leading to higher adoption of bio plasticizers.Besides, higher demand for eco-friendly bio-films from the food & packagingindustry is expected to propel the bio plasticizers market growth in thisregion.
TheEurope region is expected to hold the second-highest market shares,representing a substantial growth of the bio plasticizers market over theforecast period. This is attributed to increasing government investments onenvironmentally-friendly initiatives and growing demand for bio-plasticizers inpersonal care products and consumer goods.
AsiaPacific region is expected to account for considerable market shares in theglobal bio plasticizers market, growing with the highest CAGR throughout theforecast period. Factors such as growing awareness among consumers regardingbio-degradable as well as eco-friendly plasticizers, higher investments inR&D activities, increasing government initiatives to produce effective andlow-cost bio-plasticizers.
Competitive Landscape:
Thebio plasticizers market, which is highly competitive, consists of variousmarket players. Some of the major market players include DuPont, Bioamber Inc.,Dow Chemical Company, Evonik Industries, Emery Oleochemicals, Lanxess AG,Myriant Corporation, Matrìca S.p.A., PolyOne Corporation, Galata Chemicals,Vertellus Holdings LLC., Roquette, Oxea GmbH, Jungbunzlauer Suisse AG,Proviron, Hebei Jingu Plasticizer Co., Ltd. and Jiangxi East Huge DragonChemical Co., Ltd. among others.
Thepast endeavors, present developments and futuristic advancements, sum-up tocomprehend the overall growth of the global bio plasticizers market.
Key Benefits:
Thebio plasticizers market report provides a quantitative analysis of the currentmarket and estimations through 2020-2030 that assists in identifying theprevailing market opportunities to capitalize on.
Thestudy comprises a deep dive analysis of the bio plasticizers market trendincluding current and future trends for depicting the prevalent investmentpockets in the market.
Thereport provides detailed information related to key drivers, restraints,opportunities and their impact on the bio plasticizers market.
Thereport incorporates a competitive analysis of the market players along withtheir market share in the global bio plasticizers market.
Thestudy elaborates SWOT analysis and Porters Five Forces model for the bioplasticizers market.
Valuechain analysis in the bio plasticizers market study provides a clear picture ofthe stakeholders’ roles.
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