Global Bio Plasticizers Market Size and Forecast 2024-2033|ExxonMobil Corporation, Cargill Incorporated, BASF SE, Dow Inc., Evonik Industries AG

Woman technician inspecting pellets made of biodegradable materials

The Bio Plasticizers Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Bio Plasticizers Global Market Report 2024, The bio plasticizers market size has grown strongly in recent years. It will grow from $1.56 billion in 2023 to $1.69 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to growth in environmental concerns, stringent regulations on traditional plasticizers, renewable feedstock utilization, consumer awareness and preference for eco-friendly products, corporate sustainability initiatives.

The bio plasticizers market size is expected to see strong growth in the next few years. It will grow to $2.25 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to continued emphasis on sustainable packaging, expansion of bio-based polymers market, government support for bioeconomy, increasing demand for green building materials, shift in consumer preferences toward sustainable products.. Major trends in the forecast period include collaborations and partnerships, innovative solution launches, investments in research and development, application in medical devices and pharmaceuticals.

The flourishing construction industry is expected to boost the growth of the bio plasticizer market going forward. The construction industry is the commercial manufacturing and trade sector that develops, preserves, and repairs infrastructure. In the construction sector, bio-plasticizers are used for wire insulation and jacketing, which reduce water requirements and make concrete strong and workable. For instance, in April 2023, according to the reports shared by the United States Census Bureau, a US-based government agency, the overall value of residential and non-residential constructions in US increased by over 8 % between 2020 and 2021. Furthermore, in September 2021, according to reports published by Oxford Economics, a UK-based economic information services company, the global construction output was $10.7 trillion in 2020, and between 2020 and 2030, it is anticipated to increase by 42 %, or $4.5 trillion, to reach USD 15.2 trillion. Therefore, the flourishing construction industry is driving the growth of the bio plasticizer market.

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The bio plasticizers market covered in this report is segmented –

1) By Type: Sebacates, Succinic Acid, Citrates, Glycerol Esters, Epoxides, Other Types

2) By Application: Flooring And Walls, Film And Sheet Coverings, Wires And Cables, Coated Fabrics, Consumer Goods, Other Applications

3) By End-Use: Automobile, Packaging, Electrical And Electronics, Textiles, Building And Construction, Medical And Healthcare, Other End Uses

Product innovation is the key trend gaining popularity in the bio plasticizer market. Major companies operating in the bio plasticizer market are focusing on developing new products to sustain their position in the market. For instance, in October 2021, Cargill Incorporated, a US-based food corporation that provides agricultural and financial services, launched Biovero bio plasticizer. The unique feature of this product is its plant-based composition, which enables producers to create things more effectively than with conventional plasticizers while using less energy, trash, and material. The manufacture of flooring for residential and commercial spaces is anticipated to be the initial use for Biovero plasticizers. The phthalate-free product performs well for flooring makers while satisfying customer and regulatory standards.

The bio plasticizers market report table of contents includes:

1. Executive Summary

2. Bio Plasticizers Market Characteristics

3. Bio Plasticizers Market Trends And Strategies

4. Bio Plasticizers Market – Macro Economic Scenario

5. Global Bio Plasticizers Market Size and Growth

26. South America Bio Plasticizers Market

27. Brazil Bio Plasticizers Market

28. Middle East Bio Plasticizers Market

29. Africa Bio Plasticizers Market

30. Bio Plasticizers Market Competitive Landscape And Company Profiles

Top Major Players: