A plasticizer is a substance that is introduced into other polymeric matrices to facilitate the polymer’s processing, enhance its plasticity, flexibility, and softness, and reduce its brittleness. The aforementioned additives are extensively used in various applications such as PVC cables, resins, wire jacketing, vinyl floor covering, medical devices, vehicle components, packaging materials, and consumer goods.
Bio-plasticizers are derived from natural sources and have the characteristic of being renewable. This substance’s production involves using many raw ingredients, including soybean oil, stearic acid, starch, and castor oil.
Bio Plasticizer Market Size:
The Global Bio Plasticizer Market is growing at a CAGR of 7.2% during the forecast period 2023- 2030. The market is expected to grow due to increasing demand from Pharmaceuticals, Packaging, Consumer Goods, Automotive & Transport, and Building & Construction.
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Bio Plasticizer Market Dynamics:
Growing demand for polyvinyl chloride in Bio Plasticizer Market.
Due to its diverse range of applications, there is an increasing demand for polyvinyl chloride (PVC). There has been a notable increase in the number of packaging firms, along with a growing emphasis on plastic films’ safety and environmental sustainability. The economical use of polyvinyl chloride (PVC) as a polymer is closely associated with the advancement of additives employed in plasticization. Bio-plasticizers’ progress is driven by expanding consumer insights and the limited availability of toxic phthalate compounds. Phthalate plasticizers in close contact with body fluids pose a health concern.
Due to their high solubility in organic solvents such as saliva and plasma, the ingestion or absorption of these substances during regular medical procedures is considered viable. Upon absorption, these substances get sequestered inside the adipose tissue of humans, potentially interfering with embryonic development. Consequently, the ban on phthalate-based plasticizers has prompted the development of environmentally sustainable plant-derived plasticizers for use in food packaging materials, medical supplies, and consumer goods.
Bio Plasticizer Market Opportunities:
The use of plasticizers derived from biofuels has increased. Out of the plasticizers used in different applications such as electrical cables, roofing membranes, wire insulation, wall and floor covering, polyvinyl chloride accounts for 85–90% of the plasticizers utilized globally.
Paints, inks, and automobiles are some products that employ PVC. Since bio-plasticizers are non-toxic, the transportation, automotive, packaging, pharmaceutical, medical device, building, and construction sectors are increasingly using them as essential components of the business.
As manufacturing and process technologies continue to progress, there will likely be a large increase in demand for bio-plasticizers compared to conventional plasticizers. The governments of various areas have been instrumental in this development by providing funds to facilitate the creation of simple business policies.
Bio Plasticizer Market Segmentation:
The global Bio plasticizer market is segmented by type into cellulose acetate, protein-based plastics, thermoplastic starch, polyhydroxyalkanoates, poly (lactic acid) plastics, and others; by product type into epoxidized soybean oil, castor oil-based plasticizers, citrates, succinic acid, others, by application into wire & cables, film & sheet, flooring & wall covering, medical devices, package materials, others, by end-user into pharmaceutical, packaging, consumer goods, automotive & transport, building & construction, textiles, agriculture & horticulture, others.
By Product Insights: The epoxidized soybean oil (ESBO) segment has the highest market Share.
Based on the product type, the epoxidized soybean oil (ESBO) segment holds the highest market revenue share. The plasticizers’ resistance is enhanced by incorporating ESBO due to the epoxidation process of carbon-carbon double bonds present in vegetable oil.
Succinic acids are used as constituents in plastic additives, which contribute to developing flexible polyvinyl chloride (PVC) materials with mechanical qualities similar to dioctyl adipate (DOA).
These individuals support the production of bio-based additives that are free from phthalates and possess greater renewability than conventional synthetic alternatives. Similarly, castor oil and its derivatives produce stiff, flexible, and semi-rigid bio-plasticizers. The substance exhibits notable resistance to the dispersion of pigments and hydrolysis and has remarkable compatibility with polyether polyols.
Citrates serve as plasticizers for various biopolymers such as PLA, PVC, PHA, and others, offering the advantages of being generated from natural, biodegradable, and compostable sources. Recycled bio-based polymers are rapidly gaining recognition due to their ability to mitigate detrimental environmental impacts and provide significant benefits and incentives to producers of vegetable oil.
- In February 2023, Avient announced plans to expand its bio-based polyolefins and replace traditionally filled polyolefins with natural fillers like cellulose fibres or recycled coffee grounds.
- In February 2023, three major players in the plastic additives market, Evonik Industries AG, BASF SE, and Chemtura Corporation, announced that the market would develop robustly by 2030, driven mostly by the global construction industry’s growth.
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Global Bio Plasticizer Market Geographical Share:
The global Bio Plasticizer market is analyzed across North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa.
The European market for bioplasticizers is expected to be influenced by the substantial presence of personal care and cosmetic product manufacturing facilities.
Europe is now seeing an increase in manufacturers and market providers of personal care and cosmetics goods, pharmaceutical products, and vehicle manufacturers. This influx has had a significant impact on the regional ecosystem. The dominant European economies, such as the United Kingdom, Germany, France, Italy, and Spain, play a crucial role in governing this dynamic landscape.
The predominant use of durable and versatile polyvinyl chloride (PVC) applications in the wire & cable, automotive, and construction sectors constitutes over 85% of the total plasticizer consumption in Europe. In Europe, the use of plasticizers in a safe manner is made feasible by REACH, which stands as the most stringent and comprehensive product safety legislation worldwide.
Bio plasticizers are used as additions in manufacturing cosmetic products, such as fragrances, lipsticks, shower gels, and dental care items. The European market for bio plasticizers is expected to see growth due to the notable presence of personal care and cosmetic product manufacturing facilities.
Bio Plasticizer Market Companies:
The global bio plasticizer market is highly competitive with local and global key players. Key players contributing to the market’s growth are Evonik, Matrica S.p.A., OQ Chemicals GmbH, Dow, LCY GROUP, PTT Public Company Limited, Lanxess AG, Avient Corporation, Solvay S.A., Cargill, Incorpor, among others.
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