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Global Bio-plasticisers Market Size, Share, Trends: By Product: Epoxidised Soybean Oil (ESBO), Castor Oil-Based Plasticisers, Citrates, Succinic Acid, Others; By Application: Packaging Materials, Consumer Goods, Automotive and Transport, Others; Regional Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Global Bio-plasticisers Market Outlook
The global bio-plasticisers market size reached a value of USD 1.37 billion in 2021. The market is further estimated to grow at a CAGR of 5.70% during 2024-2032 to reach a value of USD 1.82 billion in 2027.
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Increased Efficiency, Escalating Eco-Consciousness, Stringent Government Regulations, and Rising Need to Reduce the Dependency on Fossil Fuels to be the Key Trends in the Bio-plasticisers Market
Bio-plasticisers are safe and sustainable materials that are used to turn stiff synthetic polymers, such as PVC into soft resins for various applications that demand flexibility. These plasticisers are digestible and are extensively used as an alternative to conventional plasticisers, such as phthalates without any alteration in processing.
- The bio-plasticisers offer multiple advantages, such as superior technical and processing characteristics, enhanced flexibility, and improved chemical properties of plastic products, and oil resistance, among others.
- The surging eco-consciousness and the growing awareness about the harmful impacts of conventional plasticisers on the environment are leading to the increased use of bio-plasticisers.
- The emerging need to reduce the dependency on fossil fuels is leading to the replacement of conventional petroleum-based phthalate plasticisers with bio-plasticisers.
- There are stringent government regulations, such as the ban on fossil fuel-made conventional plasticisers to reduce the environmental impacts and to ensure the safe packaging of food products.
- The strong presence of market players and their efforts to launch superior quality bio-plasticisers that meet customer expectations are supporting the market growth. In April 2021, BASF introduced the bio-plasticisers, such as Hexamoll DINCH BMB and Palatinol 10-P BMB made of organic waste or vegetable oils for the polyvinyl chloride industry.
Bio-plasticisers Market Analysis
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The market can be divided based on product into epoxidised soybean oil (ESBO), castor oil-based plasticisers, citrates, and succinic acid, among others. The different applications are packaging materials, consumer goods, automotive and transport, building and construction, textiles, and agriculture and horticulture, among others. The major regional markets are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report offers an extensive assessment of the market on the basis of Porter's five forces model, along with giving a SWOT analysis.
The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- Evonik Industries AG
- BASF SE
- Lanxess AG
- Vertellus Specialties Inc.
- Solvay S.A.
- Others
Availability of Different Types of Eco-friendly Plasticisers to Aid the Bio-plasticisers Market
The epoxidised soybean oil is a nontoxic and yellow-coloured liquid, which is developed from soybean oil through the process of epoxidation. The epoxidised soybean oil is easily available, renewable, and cost-effective, thus resulting in its wider utilisation across various end-use sectors.
The castor-oil-based bio-plasticisers are extensively used in various natural and synthetic resins, like polyvinyl chloride, nitrocellulose, ethylcellulose, and rubber polymers for improved elongation. They provide superior electrical insulating properties, excellent lubricity, cold-crack resistance, and improved heat stability.
Citrate plasticisers provide an improved toxicological profile and are compatible with various polymers, which is leading to their increasing use as an alternative to phthalate plasticisers in different technical applications. There is expanding availability of non-VOC citric bio-plasticisers that are approved for food contacts and are used in interior applications where no emission is required.
There is an increasing demand for succinate acid-made plasticisers of average molecular weight owing to their reduced viscosity, enhanced paste stability, and low-temperature flexibility in synthetic polymer compounds. The market players are making strong efforts in offering plasticisers made from succinic acid, a naturally occurring substance as they have a reduced environmental footprint when compared to adipic acid-based plasticisers.
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Rising Utilisation in the Packaging Sector to Support the Bio-plasticisers Market Expansion
The expanding e-commerce channels owing to advantages, like the convenience, are leading to the increasing use of bio-plasticisers in the packaging sector, particularly in the case of food products. The stringent regulations regarding the safe packaging of food items are resulting in the application of non-toxic bio-plasticisers as they do not have an impact on the taste of packaged food. Also, the lightweight of bio-plasticisers results in the reduced use of fuel during transportation, thus being economical and reduces the environmental footprint.
The bio-plasticisers are extensively used as additives in consumer goods, such as cosmetics, to provide a smooth texture. Also, there is expanding use of bio-plasticisers in the production of consumer goods, such as toys, to obtain more flexibility and address the growing safety concerns. The increasing production of automobiles due to improved living standards and the surging demand for environment-friendly vehicles are leading to the increasing use of bio-plasticisers in automotive production. Also, automobile producers are adopting bio-plasticisers to reduce the dependency on fossil fuels.
The increasing construction of buildings owing to rapid urbanisation is leading to the growing use of bio-plasticisers in cement mortar mixes to reduce viscosity and boost performance with more flexibility.
Competitive Landscape of Bio-Plasticisers Market
Evonik Industries AG is a leading manufacturer of speciality chemicals with 27 production plants and a presence in more than 100 countries. The company has five major business divisions, namely speciality additives, performance materials, nutrition and care, smart materials, and technology and infrastructure.
BASF SE is a company that deals with the production of chemicals, materials, industrial solutions, surface technologies, nutrition and care, and agriculture. The company is listed on the Frankfurt stock exchange under the symbol BAS and operates in more than 90 countries.
Solvay S.A. is a Belgium-based chemical company founded in 1863. The company provides solutions that can lead to a safer and more sustainable future.
Other bio-plasticisers market players include Lanxess AG, and Vertellus Specialties Inc., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
|
| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Region
7 Industry Opportunities and Challenges
8 Global Bio-plasticisers Market Analysis
8.1 Key Industry Highlights
8.2 Global Bio-plasticisers Historical Market (2018-2023)
8.3 Global Bio-plasticisers Market Forecast (2024-2032)
8.4 Global Bio-plasticisers Market by Product
8.4.1 Epoxidised Soybean Oil (ESBO)
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Castor Oil-Based Plasticisers
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Citrates
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.4.4 Succinic Acid
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2023)
8.4.4.3 Forecast Trend (2024-2032)
8.4.5 Others
8.5 Global Bio-plasticisers Market by Application
8.5.1 Packaging Materials
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Consumer Goods
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Automotive and Transport
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Building and Construction
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2023)
8.5.4.3 Forecast Trend (2024-2032)
8.5.5 Textiles
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2023)
8.5.5.3 Forecast Trend (2024-2032)
8.5.6 Agriculture and Horticulture
8.5.6.1 Market Share
8.5.6.2 Historical Trend (2018-2023)
8.5.6.3 Forecast Trend (2024-2032)
8.5.7 Others
8.6 Global Bio-plasticisers Market by Region
8.6.1 North America
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2023)
8.6.3.3 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2023)
8.6.4.3 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2023)
8.6.5.3 Forecast Trend (2024-2032)
9 North America Bio-plasticisers Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2023)
9.1.3 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2023)
9.2.3 Forecast Trend (2024-2032)
10 Europe Bio-plasticisers Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2023)
10.1.3 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2023)
10.2.3 Forecast Trend (2024-2032)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2023)
10.3.3 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2023)
10.4.3 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Bio-plasticisers Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2023)
11.1.3 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2023)
11.2.3 Forecast Trend (2024-2032)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2023)
11.3.3 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2023)
11.4.3 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2023)
11.5.3 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Bio-plasticisers Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2023)
12.1.3 Forecast Trend (2024-2032)
12.2 Mexico
12.2.1 Market Share
12.2.2 Historical Trend (2018-2023)
12.2.3 Forecast Trend (2024-2032)
12.3 Argentina
12.3.1 Market Share
12.3.2 Historical Trend (2018-2023)
12.3.3 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Bio-plasticisers Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2023)
13.1.3 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2023)
13.2.3 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2023)
13.3.3 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2023)
13.4.3 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Evonik Industries AG
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 BASF SE
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Lanxess AG
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Vertellus Specialties Inc.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Solvay S.A.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Bio-plasticisers Market: Key Industry Highlights, 2018 and 2032
2. Global Bio-plasticisers Historical Market: Breakup by Product Outlook (USD Billion), 2018-2023
3. Global Bio-plasticisers Market Forecast: Breakup by Product Outlook (USD Billion), 2024-2032
4. Global Bio-plasticisers Historical Market: Breakup by Application (USD Billion), 2018-2023
5. Global Bio-plasticisers Market Forecast: Breakup by Application (USD Billion), 2024-2032
6. Global Bio-plasticisers Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Bio-plasticisers Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Bio-plasticisers Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Bio-plasticisers Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Bio-plasticisers Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Bio-plasticisers Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Bio-plasticisers Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Bio-plasticisers Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Bio-plasticisers Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Bio-plasticisers Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Bio-plasticisers Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Bio-plasticisers Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global Bio-plasticisers Market Structure.
Key Questions Answered in the Report
In 2021, the market attained a value of nearly USD 1.37 billion.
The market drivers include expanding e-commerce channels, rising use in food packaging, cost-effectiveness of epoxidised soybean oil, and increased efficiency.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach almost USD 1.82 billion by 2027.
The key market trends creating growth opportunities include the escalating eco-consciousness, stringent government regulations, and rising need to reduce the dependency on fossil fuels.
The significant products considered in the market are epoxidised soybean oil (ESBO), castor oil-based plasticisers, citrates, and succinic acid, among others.
The different applications are packaging materials, consumer goods, automotive and transport, building and construction, textiles, and agriculture and horticulture, among others.
The market is assessed to grow at a CAGR of 5.70% between 2024 and 2032.
The major players in the market are Evonik Industries AG, BASF SE, Lanxess AG, Vertellus Specialties Inc., and Solvay S.A., among others.
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