Global Bio Plasticizers Market

Bio Plasticizers Market Size, Share, Growth Analysis, By Application(Packaging Materials, Consumer Goods), By Type(Epoxidized Soybean Oil, Castor Oil) - Industry Forecast 2024-2031

Report ID: SQMIG15E2189 | Region: Global | Published Date: March, 2024
Pages: 184 | Tables: 65 | Figures: 77

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Bio Plasticizers Market size was valued at USD 2.07 billion in 2022 and is poised to grow from USD 2.18 billion in 2023 to USD 3.29 billion by 2031, at a CAGR of 5.30% during the forecast period (2024- 2031).

Due to the volatility of these material prices on the market, it is difficult for most manufacturers to earn significant profit margins because they are vulnerable to commodity and energy prices as well as the costs of critical raw materials. Businesses frequently have backup plans in place, including portfolio consolidation, organizational reorganization, momentary production halts, and other business measures, in case there are indications of a wider turndown and inventory building. 'DuPont de Nemours, Inc. (USA)', 'BASF SE (Germany)', 'Eastman Chemical Company (USA)', 'Arkema S.A. (France)', 'Evonik Industries AG (Germany)', 'Lanxess AG (Germany)', 'Dow Inc. (USA)', 'PolyOne Corporation (USA)', 'Bioamber Inc. (Canada)', 'Emery Oleochemicals LLC (Malaysia)', 'Danisco A/S (Denmark)', 'Vertellus Holdings LLC (USA)', 'Perstorp Holding AB (Sweden)', 'Myriant Corporation (USA)', 'Corbion NV (Netherlands)', 'Jungbunzlauer Suisse AG (Switzerland)', 'Polynt Composites Inc. (Italy)', 'Shandong Yuanli Science and Technology Co., Ltd. (China)', 'KLJ Group (India)', 'Solvay SA (Belgium)', 'Mitsubishi Chemical Corporation (Japan)', 'Meredian Holdings Group Inc. (USA)'

There is a growing demand for eco-friendly and sustainable plasticizers due to increasing environmental concerns and regulations. Bio plasticizers are derived from renewable sources, such as plant oils and vegetable fats, and are considered to be more sustainable than traditional petroleum-based plasticizers.

Asia-Pacific is expected to be the dominant segment in the bio plasticizers market in 2021, driven by the growing demand for sustainable products and the presence of a large number of manufacturers in the region. It is projected that a high level of urbanization and rapid industrialization will accelerate market growth nationwide. Additionally, the demand for products in the region is boosted by the increased use of bio-based packaging material products in developing nations.

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