The market size for Bio Plasticizers is projected to reach $1,140.3 Million by 2020, registering a CAGR of 9.8% between 2015 and 2020.
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Plasticizers Market - Trends & forecasts to 2020"
“North America: One of the Biggest Markets of
Bio Plasticizer”
North America is the most promising
market for bio plasticizers and the trend is projected continue in the near
future. North America is one of the largest markets for bio plasticizers, which
accounted for a share of around 36.0% the total market in 2014. The North
American market for bio plasticizers is growing at a notable pace, which is
primarily due to the growing manufacturing industry that is further pushing the
demand for bio plasticizer.
The demand for bio plasticizers in
the region is projected to register a CAGR of around 10.0% between 2015 and
2020. The U.S. is the largest and fastest-growing market for bio plasticizers
in the region. This is due to increasing domestic demand, and stringent norms
& regulations. Also, the increasing flexible PVC industry in the region is
ultimately driving the demand for bio plasticizers in the region. Intensified
efforts of different regulatory authorities to promote environmentally friendly
products have led to higher growth of bio plasticizers in this region.
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The plasticizer manufacturers are focusing on introducing
safer and non-toxic alternatives for phthalate plasticizer in order to help
end-use industries meet the norms and regulations. Bio-based plasticizer are
renewable and are produced from vegetable raw materials and renewables that are
used as an alternative for petroleum-based plasticizer, in many general purpose
and PVC applications. The feedstock employed for the production of bio-based
plasticizer include, soybean, palm, castor oil, and starch. Bio-based
plasticizer can be used in an array of applications that need to be
phthalate-free such as soft toys, food cling wraps, and carpet backing.
Bio plasticizers such as ESBO, and castor
oil-based, are expected to register a high demand in their respective
applications. ESBO was one of the majorly consumed plasticizer in 2014. The
prime driver for bio plasticizer usage comes from the increasing demand in
developing countries coupled with growing manufacturer’s preference for
phthalate free plasticizer in end-use products. The higher cost of bio plasticizer
is the major roadblock for the growth of the bio plasticizer market.
This report follows both top-down and bottom-up
approaches to estimate and forecast the global bio plasticizer market size.
Competitive scenarios of the top players in the bio plasticizer market have
been discussed in detail. The leading players of this industry are profiled
with their recent developments and other strategic industry activities. The key
participants in this market are The Dow Chemical Company (U.S.), Vertellus
Specialties Inc. (U.S.), Evonik Industries AG (Germany), Solvay S.A. (Belgium),
Lanxess AG (Germany), BioAmber Inc. (Canada), Emery Oleochemicals Llc
(Malaysia), Matrica S.P.A. (Italy), Polyone Corporation (U.S.), Myriant
Corporation (U.S.), and Danisco Inc. (U.S.).
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Growth
in end-use industries in developing nations such as China and India is expected
to drive the bio plasticizer market in next five years. Ban on phthalates in
consumer goods, food packaging materials, medical devices, and soft toys, is
the other important factor contributing toward the growth of bio plasticizer.
The emergence of bio-based plasticizer has given rise to a new phase in the
plasticizer industry. The stringent regulations and norms along with tight
supply of harmful phthalates, such as DOP, DBP, BBP, and DEP have led to the
development of eco-friendly plasticizer as a replacement to the traditional
phthalates.
The plasticizer industry is focusing
on introducing safer and non-toxic bio-based plasticizer to help manufacturers
go green; they can also replace the traditional phthalates in various
applications. Bio-based plasticizer are renewable and are produced from
vegetable raw materials and renewables that are used as an alternative for
petroleum-based plasticizer, in many general purpose and PVC applications. The
feedstock employed for the production of bio-based plasticizer include,
soybean, palm, castor oil, citrates, stearic acid, and starch. Bio-based
plasticizer can be used in an array of applications that need to be
phthalate-free such as soft toys, food cling wraps, and carpet backing.
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