Bio Plasticizers Market Growth Accelerated By Increasing Demand From Construction Industry

BIO PLASTICIZERS MARKET
Bio Plasticizers Market

The bio plasticizers are used as an alternative to phthalate plasticizers due to their non-toxicity and biodegradability. They are commonly used in PVC flooring and wallpaper as they provide flexibility along with toughness to PVC products.

The global Bio Plasticizers Market is estimated to be valued at US$ 1.4 Billion in 2023 and is expected to exhibit a CAGR Of 5.9% over the forecast period 2023-2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The demand for bio plasticizers from the construction industry has been increasing at a rapid pace. This is primarily attributed to the wide application of bio plasticizers in flooring, wallpaper and various other construction materials. According to Oxford Economics, the global construction industry is estimated to be valued at US$ 15 trillion by 2030 with India and China accounting for over 50% of the global growth. Rapid urbanization and infrastructure development has necessitated the use of various construction materials where bio plasticizers are increasingly replacing phthalate plasticizers owing to regulatory support towards eco-friendly products. The growth in the overall construction spending worldwide is expected to drive the demand for bio plasticizers during the forecast period.

Segment Analysis


The global bio plasticizers market is dominated by epoxidized soybean oil plasticizers segment. Epoxidized soybean oil is widely used as a substitute for phthalate plasticizers in various end-use applications such as wires & cables, wall coverings & floorings, consumer goods, and packaging. This is because epoxidized soybean oil provides better properties compared to traditional phthalates such as high stability during processing, low volatility, and good compatibility with PVC.

Key Takeaways


The Global Bio Plasticizers Market Demand is expected to witness high growth over the forecast period.

Regional analysis:

Europe accounts for the largest share in the global bio plasticizers market. This is attributed to factors such as presence of stringent regulations banning phthalate plasticizers along with adoption of bio-based and sustainable chemicals by industries. The bio plasticizers market in Asia Pacific is expected to witness fastest growth over the forecast period due to rapid industrialization and growth of end-use industries such as packaging, consumer goods and wires & cables in countries such as China, India, and South Korea.

Key players operating in the bio plasticizers market are Emery Oleochemicals, Evonik Industries, Lanxess, Matrica, Myriant, Vertellus Specialties, Jungbunzlauer Suisse, KLK OLEO, Strahl & Pitsch, JiangxiEastHokChemical. Emery Oleochemicals dominates the global market share owing to its wide product portfolio of epoxidized soybean oil and citrates bio plasticizers. Lanxess focuses on raising awareness about advantages of bio-based plasticizers through initiatives.

Get more insights on this topic :

https://www.insightprobing.com/the-rapidly-growing-bio-plastics-industry-is-driving-the-bio-plasticizers-market/

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