Bio-plasticizers are compounds incorporated in a polymer matrix to increase its flexibility and enhance the chemical properties of the plastic product. Bio-based plasticizers posses higher biodegradability and lesser chemical effects are developed during the degradation process. They are widely used as additives in PVC resins, PVC cables, wire jacketing, vinyl flooring, and automobile parts etc. application of bio-plasticizers in wire products enables original equipment manufacturers and cable manufacturers lower carbon gas emission by up to 40%. Vegetable raw material such as soybean oil, castor oil, starch, and palm oil are used in the production of bio-plasticizer and the material is used as a substitute to petroleum-based plasticizers. Bio-plasticizer manufactured from soybean oil through a process called epoxidation often referred as Epoxidized Soybean Oil (ESBO). ESBO is one of the most adopted additives in PVS gasket used specifically in food packaging.

Market Dynamics

The global bio-plasticizer market has been gaining traction from last few years, as there is need to shift towards sustainable ingredients. Wide applications of bio-plasticizers such as in PVC, wire jacketing, medical equipment, automobile parts, vinyl flooring, packaging materials, and consumer goods among others drives the growth of bio-plasticizer market. Rising health concerns among population and various stringent environmental regulations regarding carbon dioxide gas emission stimulates the demand for bio-plasticizers. Additionally, improved characteristics of bio-plasticizer such as flexibility, softness, workability, safe, non-phthalate, and increased bio-degradability supports the growth of the market.   The growing adoption of bio-based materials in various end-use industries is expected to propel the bio-plasticizer market growth.

Market Classification and Overview

The global bio-plasticizer market is segmented by product type, application, and geography. On the basis of product type, the market is segmented into Epoxidized Soybean Oil (ESBO) Castor Oil-Based Plasticizers, citrates, succinic acid, and others. Based on application segment the market is segmented into packaging materials, consumer goods, medical devices, wires & cables, building & construction, and others.

Regional Overview

The global bio-plasticizer market is majorly segmented into major four geographies: North America, Europe, Asia Pacific, and Latin America the Middle East and Africa.

North America market dominates the global bio-plasticizer market owing to technological advancement of packaging and well-established consumer goods industry as well as sustained expansion of other sectors.

Europe bio-plasticizer market has reached to maturity and is projected to grow slowly over the forecast period 2018-2025. Government activities for instance, EU regulations and legislations have set policies aiming at encouraging sustainable manufacturing practices that will result in less carbon gas emission. This has been stimulating the growth of the market in Europe.

Rising demand for consumer goods material, wires and cables, and medical materials in emerging economies such as Asia Pacific and the Middle East drives the growth of bio-plasticizer market in the region. Although some part of Middle East & Africa bio-plasticizer market is at nascent phase, countries such as UAE and Brazil are predicted to experience significant demand in coming years.

Report Coverage

Market Participants

DOWDupont, BASF SE, BioAmber Inc., Lanxess AG, Evonik Industries AG, Solvay SA, PolyOne Corporation, Danisco US Inc., Emery Oleochemicals LLC, Myriant Corporation, Vertellus Specialties Inc., and Matrica SPAare the key players in the molded plastics market.These players involved have adopted the strategies including product development, and mergers and acquisitionswith local as well as established players to sustain in the industry.

Market Segmentation

Market by Type

• Epoxidized Soybean Oil (ESBO)
• Castor Oil-Based Plasticizers
• Citrates
• Succinic acid
• Others

Market by Application  

• Packaging Materials
• Consumer Goods
• Medical Devices
• Wires & Cables
• Building & Construction

Market by Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia-Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia
  • Rest of MEA