Bio Plasticizers Market Size | Share, Emerging Trends. Key Players, Future Prospects and Forecast by 2030

bio plasticizers industryCAGR of 5.31%

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Drivers, restraints, and opportunities-

Awareness among people for using sustainable and eco-friendly commodities, change in lifestyle, and increase in disposable income of consumers in Asia-Pacific, Middle East, and Latin America have boosted the growth of the consumer electronics and medical industries, thus driving the global bio plasticizers market. On the other hand, high cost of bio plasticizers is expected to hamper the growth to some extent. However, rise in R&D activities associated with bio plasticizers is anticipated to create lucrative opportunities in the industry.

Key players in the industry-

DuPont

DOW Chemical Company

Vertellus Holdings LLC.

Evonik Industries

Lanxess AG

Matrìca S.p.A.

Emery Oleochemicals

Myriant Corporation

Bioamber Inc.

PolyOne Corporation

Covid-19 scenario-

· The outbreak of the pandemic has had a mixed impact on the global bio plasticizers market. Surge in demand for e-commerce during the pandemic had created a huge demand for films and the sheet covering from the packaging industry. Also, there was a steep increase. e in demand for medical equipment and other medical devices where plasticizers are utilized.

· On the other hand, however, shutdown of construction projects in developing countries, such as India led to a decline in demand for bio plasticizers, which are utilized in the construction sector.

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The flooring and walls segment to dominate by 2030-

By application, the flooring and walls segment contributed to the major share in 2020, holding nearly one-fifth of the global bio plasticizers market. This is attributed to the fact that plasticization is an economic way to obtain waterproof, stain-resistant, anti-slipping, comfortable, and safe floors. The consumer goods segment, however, would cite the fastest CAGR of 6.17% during the forecast period, due to increase in use of bio plasticizers in consumer goods-related products.

The epoxides segment to maintain the lion's share-

fastest CAGR

Asia-Pacific garnered the major share in 2020-

By region, the market across Asia-Pacific had the lion's share in 2020, generating more than half of the global bio plasticizers market. The same region is also projected to portray the fastest CAGR of 5.89% by 2030, due to high potential of the Indian market and huge utilization of bio plasticizers in China.

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