Plasticizers are compounds incorporated in a polymer matrix to increase its flexibility and improve the chemical properties of the plastic product. The addition of a plasticizer can lower the glass transition temperature, melt viscosity, and elastic modulus of the polymer.
Earlier phthalate-based plasticizers represented 85% of the total plasticizers market. However, stringent government regulations and rising health concerns of consumers stimulated the demand for bio-plasticizers. In order to assure sustainability, end users are looking for safe, biodegradable, and non-phthalate-based plasticizers. Bio-based plasticizers are widely used as additives in PVCs.
They are used in PVC resins, PVC cables, vinyl flooring, wire jacketing, automobile parts, etc. The use of bio-plasticizers for wire applications can enable cable manufacturers and original equipment manufacturers (OEMs) to reduce carbon gas emissions by up to 40%.
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Also, plasticizers are the most commonly used additives used in plastic industries. Bio-based plasticizers are produced from vegetable raw materials and are used as an alternative to petroleum-based plasticizers. The raw material used for the production of bio-plasticizers is castor oil, soybean oil, palm oil, and starch.
Epoxidized Soybean Oil (ESBO) is the most commonly used bio-plasticizer. ESBO is manufactured from soybean oil through a process of epoxidation. ESBO is one of the most preferred additives in PVC gaskets used particularly in food packaging.
Bio-Plasticizers Market: Drivers & Restraints
Growth in end-user industries in developing nations such as India, China, Brazil, etc. is expected to drive the bio-plasticizers market during the forecasted period. A tight supply of harmful phthalate such as BBP, DEP, DBP, and DOP and increasing consumer awareness are driving the growth of bio-plasticizers.
Ban on phthalate-based plasticizers in consumer goods, food packaging material, and medical products have led to the development of eco-friendly bio-based plasticizers. The higher cost of bio-plasticizers as compared to phthalate-based plasticizers is a key challenge faced by the bio-plasticizers market.
These bio-plasticizers, when used for cable manufacturing, offer various advantages in terms of electrical and temperature performance as compared to traditional plasticizers.
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Bio-Plasticizers Market: Key Players
Some of the key market participants in the global Bio-Plasticizers market are The Dow Chemical Company, Bioamber Inc., Vertellus Specialties Inc., Danisco Us Inc., Solvay S.A., Dow Chemical Company, Polyone Corporation, Emery Oleochemicals Llc, Myriant Corporation, Evonik Industries, Matrica Spa, Lanxess Ag
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments by geographies and by vehicle type.
Bio-Plasticizers Market: Segmentation
On the basis of product type, the global Bio-Plasticizers market is segmented into
- Epoxidized Soybean Oil(ESBO)
- Citrates
- Castor Oil
- Succinic Acid
On the basis of application, the global Bio-Plasticizers market is segmented into
- Package Materials
- Medical Devices
- Consumer Goods
- Wire & Cables
- Building & Construction
- Automotive
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Bio-Plasticizers Market: Region-wise Outlook
Currently, North America serves as the largest market for bio-plasticizers due to flourishing sectors such as medical devices, chemicals, and consumer goods. Europe is estimated to be a mature market. North America and Europe account for a larger share of the market due to growth in the manufacturing and healthcare industries.
Various efforts made by different regulatory authorities to promote environmentally friendly products have led to an increase in the demand for bio-plasticizers in developed regions. The Middle East & African bio-plasticizers market is still at a nascent stage.
However, emerging countries such as UAE and Brazil are expected to have a significant market share in the near future. Asia Pacific (excluding Japan) is estimated to be the fastest-growing market in terms of market share by value, particularly in medical, wires & cables, and packaging materials applications.
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