According to the latest report by IMARC Group "Bio-plasticizers Market Size: Global Industry Trends, Share, Growth, Opportunity and Forecast 2021-2026", The global bio-plasticizers market exhibited moderate during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 6% during 2021-2026.
Bio-plasticizers comprise epoxidized plant oils, isosorbide esters and citrates, and cardanol. They are used to improve the flexibility, softness, texture, and functional properties of plasticized polymers. As they are non-toxic, eco-friendly, resistant to leaching, miscible and cost-effective, they are utilized in the manufacturing of wire jackets, cables, food packaging material, and medical equipment.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
At present, there is a significant increase in the need for polyvinyl chloride (PVC) products around the world. This represents one of the key factors propelling the growth of the market. Bio-plasticizers are employed in the production of PVC products as they enhance the stability, safety, and effectiveness of electrical components. Moreover, on account of their ability to reduce the water requirement of the concrete and enhance the stability of building materials, they are widely adopted in the construction industry. Furthermore, leading players are using renewable plant-based feedstock for developing fast-acting bio-plasticizers. Thisis anticipated to fuel the market.
Breakup by Product:
Epoxidized Soybean Oil (ESBO)
Castor Oil-Based Plasticizers
Citrates
Succinic Acid
Others
Breakup by Application:
Packaging Materials
Consumer Goods
Automotive and Transport
Building and Construction
Textiles
Agriculture and Horticulture
Others
Market Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Competitive Landscape with Key Player:
Avient Corporation
BASF SE
DIC Corporation
Dow Inc.
DuPont de Nemours Inc.
Emery Oleochemicals LLC
Evonik Industries AG
Lanxess AG
Matrica S.p.A.
OQ Chemicals GmbH
Roquette Freres
Solvay S.A.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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