Bio Plasticizers Market Segmentation:
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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