Bio Plasticizers Market size was valued at around USD 3.2 billion in 2024 and is anticipated to surge to USD 7.8 billion by 2037, registering a CAGR of 7.7% during the forecast timeline i.e. 2025-2037. In 2025, the industry size of bio plasticizers is estimated at USD 3.4 billion. It is anticipated that using sustainable practices in the production of plastic will boost resource efficiency, and reduce waste and pollution. Moreover, it will result in opening up new avenues for innovation, boosting the economy thus, exponentially fueling the demand for bioplasticizerss.
Bio plasticizerss are environmentally sustainable and highly compatible with a wide spectrum of biopolymer matrices, making them the preferred choice for products such as bio-based polyvinyl chloride (PVC) and polylactic acid (PLA) films. For instance, in January 2024, specialty chemicals innovator Perstorp introduced PevalenTM Pro 100, which ushers in a new era in PVC plasticizing technology. Pevalen Pro 100 provides an approximate 80% reduction in carbon. Furthermore, taking into account, the biogenic CO2 uptake from its renewable raw materials.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
7.7% |
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Base Year Market Size (2024) |
USD 3.2 billion |
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Forecast Year Market Size (2037) |
USD 7.8 billion |
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Regional Scope |
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Raw Material Sources (Plant-based Sources, Bio-waste derived materials, Others)
Plant-based sources dominate the bio plasticizers market with a notable share of 89.7%, due to their availability, re-manufacturability, and biodegradability. In addition, bio-based plasticizerss are derived from extracts of oil such as soybean, castor oil, and palm oil. This reduces dependence on fossil fuel reserves and helps lower greenhouse gas emissions. For instance, in October 2021, with the introduction of Bioveroa bio-based plasticizers, Cargill expanded its portfolio of bioindustrial solutions. Production of Biovero plasticizerss was an effort toward a more sustainable supply chain in commercial manufacturing. This leverages new uses for renewable feedstocks and brings more ecologically friendly products to the bio plasticizers market.
Product (Epoxidized Soybean Oil (ESBO), Citrates, Castor Oil-based plasticizerss, Succinic Acid, Glycol Esters, Others)
The epoxidized soybean oil (ESBO), is accounted to dominate the market owing to its high plasticizing efficiency, good thermal stability, and low tendency to migrate. For instance, in September 2021, CHS increased the capacity of its soybean oil refining plant in Mankato with an estimated investment of USD 60 million. This opportunity helped in expanding market access and shifting market dynamics. At the Mankato facility, the yearly production of epoxidized soybean oil rose by more than 35% annually. Moreover, its dominance is evident in automotive applications as bioplastics are suitable for interior components and enhance performance.
Our in-depth analysis of the bio plasticizers includes the following segments:
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Raw Material Sources |
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Application |
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End user |
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Asia Pacific Market Statistics
Asia Pacific is expected to dominate the bio plasticizers market with 46.1% attributable to the rapid industrialization, and increasing demand for flexible PVC and packaging materials. Moreover, government policies and regulations, availability of feedstocks, relatively low manufacturing costs, and expansive automotive and construction industries further contribute to the growth. In this region, public and private entities facilitate and push innovations and development in the field through their investments.
China is evolving with stringent policies and regulatory frameworks in the bio plasticizers market. For instance, in April 2021, China released GB/T 39514-2020, a new national product standard that covered biobased material additives, biobased composites, and goods manufactured from a variety of biobased materials. According to this standard, clear and permanent marking techniques such as molding, printing, embossing, branding, and others can be used to identify a product.
In India, the focus of the bio plasticizers market players is on the expansion of infrastructure to facilitate the operations in the manufacturing of bio plasticizerss, For instance, in April 2024, Payal Plastichem Pvt. Ltd., part of Payal Group, initiated phase 1 for commercial operation of its plasticizers plant in Coimbatore. The plant's initial production capacity was estimated at around 30,000 MT/PA. Furthermore, it is also the first plasticizers plant in Southern India that aims to focus on phthalate-free & REACH-compliant products.
North America Market Analysis
North America will experience the fastest growth in the bio plasticizers market after Asia Pacific owing to the increasing automotive and construction sector, availability of bio-based feedstocks such as soybean oil or corn starch, phthalate-based plasticizers regulations, and increasing consumer interest in biodegradable products. Overall, North America possesses adequate well-established manufacturing infrastructure, research institutions, as well as industry collaborations that provide the foundation for the innovation and commercialization of bio-plasticizerss.
In the U.S. market players are substantially expanding their portfolios through strategic collaborations within the bio plasticizers market. For instance, in March 2024, a new partnership agreement was announced between Innoleics and Baerlocher USA. As per the agreement, Baerlocher USA became the U.S. distributor of Innoleics' entire range of bio-based plasticizerss for flexible polyvinyl chloride (PVC) applications, giving customers more access to these cutting-edge, eco-friendly materials. The company will also leverage to produce customizable bio plasticizerss.
In Canada, the local government initiatives aid in revolutionizing the shift towards a greener environment in the bio plasticizers market. For instance, in February 2024, the local government, via the Jobs and Growth Fund initiative, committed to grant USD 1 million in favor of BOSK Bioproducts. To create bioplastics, BOSK Bioproducts gathered industrial waste such as bio-sludge from the paper industry and converted it into alternatives that can be composted. The goal of this 100% compostable solution is to drastically cut down on environmental plastic waste.
The bio plasticizers market landscape is being shaped by global companies and emerging players placing their focus on sustainable materials. For example, In March 2023, OQ Chemicals marked a critical turning point in the development of sustainable chemicals. It introduced OxBalance Isononanoic Acid, composed of bio-based content (70%) and circular feedstocks. In addition, it had ISCC PLUS certification and was the first commercially available product in the world. Furthermore, the stringent environmental regulations are compelling market players to incline for renewable resources including biomass and vegetable oils. Furthermore, the advanced research and extensive distribution network assist in meeting the growing consumer needs and preferences.
Here is the list of some eminent players:
Author Credits: Rajrani Baghel
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