Industry Insights
The growing demand for bio-based materials in various end-use industries is anticipated to increase its production and consumption globally. These green polymers are widely utilized for the manufacturing of surface coatings for polymers, cables, and as an additive in plastic industries.
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The supply of toxic phthalates including dibutyl phthalate (DBP), benzylbutylphthalate (BBP), dioctyl phthalate (DOP), and diethyl phthalate (DEP) has led to the growing consumer awareness in emerging economies such as China and India, which is expected to propel the demand for bio-based plasticizers. It offers several benefits such as temperature as well as electrical functioning as compared to conventional synthetic polymers when used for manufacturing cables. These additives are derived from renewable feedstock such as succinic acid, castor oil, epoxidized soybean oil (ESBO), citrates, and others that helps in reducing carbon footprints.
In addition, the ban on phthalate-based additives due to stringent regulatory policies in the major packaging segments of food and pharmaceutical industries have fueled the growth of environmental-friendly plastic resins. However, fluctuations in raw materials prices and high costs associated with bio plasticizers are anticipated to restrain the market growth during the forecast period.
The U.S. market is driven by increasing demand for bio-plasticizers used in producing a broad range of finished products packaging, textiles, building & construction, agriculture, automotive, and transport. High implementation of innovative and advanced extraction technologies and processes to support the rising demand from global clients are some of the significant factors influencing the regional industry growth in the coming years.
Product Insights
Similarly, castor oil and its derivatives are also used to produce flexible, semi-
rigid, rigid, and bio plasticizers. It shows resistance to pigment dispersion, hydrolysis, and has high compatibility with polyether polyols. Citrates are biodegradable, bio-based and compostable plasticizers for PLA and PVC, PHA and other biopolymers.
Several global players have shifted focus towards sustainability in their manufacturing processes and throughout the supply chain to reduce carbon emission, waste, and energy. Recycled bio-based polymers are rapidly gaining popularity since it decreases the adverse environmental effects and ensures secure profits and high premiums to vegetable oil manufacturers.
Application Insights
Packaging materials segments are expected to witness an average growth rate during the forecast period. These specialty additives play an integral role in protective packages (convoluting), flexible & rigid food contact packaging (boxes, cartons, others), and several more packaging options for various industries. The global packaging companies have implemented sophisticated manufacturing and easily adaptable processes to stratify the particular application need of customers, especially in food packaging. These bio-based materials helps in protecting food and extending its shelf-life by increasing barrier properties like antimicrobial, oxygen and moisture resistance.
In agriculture & horticulture, eco-friendly plastics are used to manufacture eco-friendly tarpaulins, irrigation pipes, soil fumigation film, drip tape, nursery pots, and silage bags. Rising environmental constraint related to growing carbon footprints coupled with improved durability and improved properties of finished products are expected to have the edge over the synthetic plastics.
Regional Insights
The North America captured the highest market share due to sustained expansion and technological advancement of packaging and consumer goods industries. The booming automotive & transport sector in North America is a key factor responsible for the continued growth of the bio-plasticizers market in the region.
Moreover, the government is taking initiatives to support adoption of bio-based plastics in manufacturing processes is further boosting the regional market growth. The US EPA and EU regulations and legislations have imposed policies aiming at encouraging sustainable manufacturing practices, development of eco-friendly products, and decreasing carbon footprint which is positively influencing the market.
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Report Scope
| Attribute | Details |
| Base year for estimation | 2016 |
| Actual estimates/Historical data | 2014 - 2016 |
| Forecast period | 2017 - 2025 |
| Market representation | Revenue in USD Million and CAGR from 2017 to 2025 |
| Regional scope | North America, Europe, Asia Pacific, Central & South America & MEA |
| Country scope | U.S., Canada, Mexico, Germany, UK, France, China, Japan, India |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors and trends |
| 15% free customization scope (equivalent to 5 analyst working days) | If you need specific market information, which is not currently within the scope of the report, we will provide it to you as a part of customization |
