Bio Plasticizer Market - Industry Analysis, Market Size, Share, Trends , Application Analysis, Growth and Forecast 2024 - 2030

Report Code: CMR 40109 Report Format: PDF + Excel

Bio Plasticizer Market Overview

Bio Plasticizer market size is forecast to reach US$5.1 billion by 2030, after growing at a CAGR of 9.4% during 2024-2030. Bio plasticizers are bio-based substances added to polymers to make them more pliable and workable. The side effects associated with traditional plasticizers, specifically phthalates, concerns over plastic pollution and growing demand from end use industries drive the bio plasticizer market. Moreover, government and environmental governing bodies imposed various policies to encourage the use of bio-based products which boosts the growth of bio plasticizer market
A major trend in the market is the growing focus on sustainability. With an increasing awareness of environmental issues and a need to reduce dependence on traditional plastics due to plastic pollution, bioplastics have emerged as a viable solution necessitating a demand for bio plasticizers. As consumers prioritize eco-conscious choices, the versatility and eco-friendly attributes of bio plastics position them as a key player in the drive toward a more sustainable and circular economy. Another trend is the ban on the use of single-use plastics. The restrictions on single-use plastics driven by the need reduce plastic pollution creates a favorable environment for the adoption of alternative materials such as bioplastics and bio plasticizers. 

Bio Plasticizer Market - Report Coverage:

The “Bio Plasticizer Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Bio Plasticizer Market.

Attribute Segment

By Type

  • Citrates
  • Epoxidized Soybean Oil (ESBO)
  • Castor Oil Based Plasticizers
  • Sebacates
  • Succinates
  • Adipates
  • Lactates
  • Glycerol Esters
  • Others

By Source

  • Plant-Based
  • Animal-Based
  • Waste & Residue
  • Others

By Production Method

  • Fermentation
  • Direct Biomass Extraction
  • Polymerization
  • Others

By Application

  • Flooring & Wall
  • Roofing Membranes
  • Film & Sheet Coverings
  • Wires & Cables
  • Medical Devices
  • Coated Fabrics
  • Adhesives & Sealants
  • Packaging Materials
  • Toys
  • Others

By End Use Industry

  • Automotive
  • Packaging
  • Electrical & Electronics
  • Building and Construction
  • Medical & Healthcare
  • Textile
  • Packaging
  • Agriculture
  • Consumer Goods
  • Others

By Geography

  • North America (U.S, Canada and Mexico)
  • Europe (Germany, France, UK, Italy, Spain, Netherlands, Belgium and Rest of Europe),
  • Asia-Pacific (China, Japan, South Korea, India, Australia, Indonesia, Thailand, Malaysia and Rest of Asia-Pacific),
  • South America (Brazil, Argentina, Chile, Colombia and Rest of South America)
  • Rest of the World (Middle East and Africa).

COVID-19 / Ukraine Crisis - Impact Analysis:  

  • Due to COVID, all the end use industries were heavily impacted. Before the pandemic consumers preferred reusable packaging as it helped them decrease their carbon footprint. This trend was overturned due to COVID-19 as the pandemic drove demand for single-use packaging that was easy to dispose, this was because consumers were afraid that the packaging may be contaminated with the virus and could infect them.
  • The Russia-Ukraine conflict impacted the Bio Plasticizer market. The conflict disrupted supply chains and led to increased energy prices. Additionally, the war has also led to inflation, further straining the market. Additionally, the demand for vegetable oils as feedstock has been impacted due to Ukraine being a major supplier.


Bio Plasticizer market

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Key Takeaways

Epoxidized Soybean Oil the Largest Segment

The epoxidized soybean oil (ESBO) segment held the largest share in the bio plasticizers market in 2020. It is a vegetable oil extracted from soybean seeds that is commonly used in plasticizers as a stabilizer and an additive. Due to the epoxidation process of carbon-carbon double bonds found in vegetable oil, the reactivity of plasticizers increases after the addition of ESBO. ESBO is used in the manufacture of plastic seals for glass containers. As per a poll by the Glass Packaging Institute, 92% of respondents said they would feel positively towards a company that offered more glass packaging because of its lower environmental impact than other materials. As consumers continue to prioritize environmental responsibility, there is an increased demand for glass packaging which also drives the demand for ESBO plasticizers.

Packaging is the Largest Segment

Packaging is the largest segment in the Bio Plasticizer market, in terms of application. driven by the increasing demand for sustainable and flexible materials. Bio plasticizers enhance the mechanical properties of bioplastics used in packaging, ensuring durability, flexibility and longevity. Estimates suggest that global consumer demand for sustainable packaging materials will surge by approximately 11 million tons by 2030. Furthermore, a significant 78% of consumers prioritise brands with sustainability efforts, and in the US, 56% prefer fiber-based cartons over plastic in food packaging. With growing consumer awareness about eco-friendly packaging, industries are adopting bioplastic-based solutions, making packaging the most significant application area for bio plasticizers.

Europe Dominates the Market

Europe dominates the Bio Plasticizer market with a share of 38% in 2023 owing to the extensive adoption of bioplastics in the region. The growing concerns about the environmental impact of plastics and the interest to shift towards renewable materials has increased the interest in bio plastics even more. The region is very environmentally conscious and implemented the Single Use Plastics Directive, European Green Deal 2020 & the Circular Economy Action Plan with the aim to completely reduce the use of traditional plastics. According to the European Bioplastics, the total bioplastics production is forecasted to reach approximately 2.43 million tons in 2024. The European Union’s Packaging and Packaging Waste Directive acknowledges that bio-based and recycled materials are equally viable solutions to make packaging more sustainable and member states are encouraged to promote the use of bio-based recyclable packaging and bio-based compostable packaging. The growth of bioplastics in the region also boosts the demand for bio plasticizers. 

Growig Demand for Bioplastics to Drive the Market

The rising demand for eco-friendly alternatives has fueled the growth of bioplastics, driving the need for bio plasticizers. As per a 2023 Sustainability and the Consumer report by Drapers, 81% of UK consumers are demanding sustainable packaging. Consumers and industries alike are seeking eco-friendly materials that reduce carbon footprints, leading to an increased preference for bioplastics in packaging, automotive and medical applications. Also, according to an independent survey of Finnish customers carried out in 2024, regarding packaging materials for food, beverages and household goods, 67% wanted to see fiber-based, paper-based or cardboard-based materials being used in packaging. This surge in bioplastics adoption directly boosts the demand for bio-based plasticizers, which are essential in enhancing the flexibility and durability of these materials.

High Costs Compared to Traditional Plasticizers to Hamper Growth

One of the major challenges in the bio plasticizer market is the high cost compared to traditional plasticizers. Bio-based plasticizers often involve complex manufacturing processes and higher raw material costs which can limit their widespread adoption especially in cost-sensitive industries. This price disparity presents a barrier to market growth particularly in regions where budget constraints play a significant role in material selection.            

Key Market Players

Global Bio Plasticizer top 10 companies include:

  1. Cargill Inc.
  2. Evonik Industries
  3. LANXESS AG
  4.  BASF SE
  5. Emery Oleochemicals
  6.  PolyOne Corporation
  7. Matrìca S.p.A.
  8. Eastman Chemical Company
  9. DIC Corporation
  10. Perstorp Group

Scope of the Report: 

Report Metric Details

Base Year Considered

2023

Forecast Period

2024–2030

CAGR

9.5%

Market Size in 2030

$5.1 Billion

Segments Covered

By Type, By Source, By Production Method, By Application, By End Use Industry and By Geography.

 

Geographies Covered

North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Netherlands, Belgium and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, Indonesia, Malaysia, Thailand and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa).

Key Market Players

1.  Cargill Inc.

2.  Evonik Industries

3.  LANXESS AG

4.  BASF SE

5.  Emery Oleochemicals

6.  PolyOne Corporation

7.  Matrìca S.p.A.

8.  Eastman Chemical Company

9.  DIC Corporation

10.  Perstorp Group

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  1. Bio Plasticizer Market- Market Overview
          1.1 Definitions and Scope
  2. Bio Plasticizer Market - Executive Summary
          2.1 Key Trends by Type
          2.2 Key Trends by Source
          2.3 Key Trends by Production Method
          2.4 Key Trends by Application
          2.5 Key Trends by End Use Industry
          2.6 Key Trends by Geography
  3. Bio Plasticizer Market – Comparative analysis
          3.1 Market Share Analysis- Major Companies
          3.2 Product Benchmarking- Major Companies
          3.3 Top 5 Financials Analysis
          3.4 Patent Analysis- Major Companies
          3.5 Pricing Analysis (ASPs will be provided)
  4. Bio Plasticizer Market - Startup Companies Scenario 
          4.1 Major startup company analysis:
                    4.1.1 Investment
                    4.1.2 Revenue
                    4.1.3 Product portfolio
                    4.1.4 Venture Capital and Funding Scenario
  5. Bio Plasticizer Market – Industry Market Entry Scenario Premium 
          5.1 Regulatory Framework Overview
          5.2 New Business and Ease of Doing Business Index
          5.3 Successful Venture Profiles
          5.4 Customer Analysis – Major companies
  6. Bio Plasticizer Market - Market Forces
          6.1 Market Drivers
          6.2 Market Constraints
          6.3 Porters Five Force Model
                    6.3.1 Bargaining Power of Suppliers
                    6.3.2 Bargaining Powers of Buyers
                    6.3.3 Threat of New Entrants
                    6.3.4 Competitive Rivalry
                    6.3.5 Threat of Substitutes
  7. Bio Plasticizer Market – Strategic Analysis
          7.1 Value/Supply Chain Analysis
          7.2 Opportunity Analysis
          7.3 Product/Market Life Cycle
          7.4 Distributor Analysis – Major Companies
  8. Bio Plasticizer Market – By Type (Market Size -US$ Million/Billion)
           8.1 Citrates
           8.2 Epoxidized Soybean Oil (ESBO)
           8.3 Castor Oil Based Plasticizers
           8.4 Sebacates
           8.5 Succinates
           8.6 Adipates
          8.7 Lactates
          8.8 Glycerol Esters 
          8.9 Others
  9. Bio Plasticizer Market – By Source (Market Size -US$ Million/Billion)
           9.1 Plant-Based
           9.2 Animal-Based
           9.3 Waste & Residue 
           9.4 Others
  10. Bio Plasticizer Market – By Production Method (Market Size - US$ Million/Billion)
           10.1 Fermentation
           10.2 Direct Biomass Extraction
           10.3 Polymerization 
           10.4 Others
  11. Bio Plasticizer Market – By Application (Market Size - US$ Million/Billion)
           11.1 Flooring & Wall
           11.2 Roofing Membranes
           11.3 Film & Sheet Coverings
           11.4 Wires & Cables
           11.5 Medical Devices
           11.6 Coated Fabrics
           11.7 Adhesives & Sealants
           11.8 Packaging Materials
           11.9 Toys 
           11.10 Others
  12. Bio Plasticizer Market – By End Use Industry (Market Size - US$ Million/Billion)
          12.1 Automotive
                     12.1.1 Passenger Vehicles
                     12.1.2 Light Commercial Vehicles (LCV)
                     12.1.3 Heavy Commercial Vehicles (HCV)
          12.2 Packaging
                     12.2.1 Food Packaging
                     12.2.2 Medical Packaging
                     12.2.3 Cosmetic Packaging
                     12.2.4 Others
          12.3 Electrical & Electronics
                     12.3.1 Wire Insulation 
                     12.3.2 Electrical Cords
                     12.3.3 Cables
                     12.3.4 Others
          12.4 Building and Construction 
                     12.4.1 Residential
                     12.4.2 Commercial
                     12.4.3 Industrial 
          12.5 Medical & Healthcare
                     12.5.1 IV Bags & Blood Bags
                     12.5.2 Medical Devices
                     12.5.3 Tubing
                     12.5.4 Others
          12.6 Textile 
          12.7 Others
  13. Bio Plasticizer Market - By Geography (Market Size -US$ Million/Billion)
          13.1 North America
                    13.1.1 USA
                    13.1.2 Canada
                    13.1.3 Mexico
          13.2 Europe
                    13.2.1 UK
                    13.2.2 Germany
                    13.2.3 France
                    13.2.4 Italy
                    13.2.5 Netherlands
                    13.2.6 Spain
                    13.2.7 Belgium
                    13.2.8 Rest of Europe
          13.3 Asia-Pacific
                    13.3.1 China
                    13.3.2 Japan
                    13.3.3 India
                    13.3.4 South Korea
                    13.3.5 Australia 
                    13.3.6 Indonesia
                    13.3.7 Thailand
                    13.3.8 Malaysia
                    13.3.9 Rest of APAC
          13.4 South America
                    13.4.1 Brazil
                    13.4.2 Argentina
                    13.4.3 Colombia
                    13.4.4 Chile
                    13.4.5 Rest of South America
          13.5 Rest of the World
                    13.5.1 Middle East
                    13.5.2 Africa
  14. Bio Plasticizer Market – Entropy
          14.1 New Product Launches
          14.2 M&As, Collaborations, JVs and Partnerships
  15. Bio Plasticizer Market – Industry/Segment Competition Landscape 
          15.1 Company Benchmarking Matrix – Major Companies
          15.2 Market Share at Global Level – Major companies
          15.3 Market Share by Key Region – Major companies
          15.4 Market Share by Key Country – Major companies
          15.5 Market Share by Key Application – Major companies
  16. Bio Plasticizer Market – Key Company List by Country Premium 
  17. Bio Plasticizer Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
          17.1 Cargill Inc.
          17.2 Evonik Industries
          17.3    LANXESS AG
          17.4    BASF SE
          17.5    Emery Oleochemicals
          17.6    PolyOne Corporation Packaging
          17.7 Matrìca S.p.A.
          17.8    Eastman Chemical Company
          17.9    DIC Corporation
         17.10 Perstorp Group
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LIST OF TABLES

1.Global Bio Plasticizer Market By Type Market 2023-2030 ($M)
1.1 Epoxidized Soybean Oil Market 2023-2030 ($M) - Global Industry Research
1.2 Castor Oil-Based Plasticizers Market 2023-2030 ($M) - Global Industry Research
1.3 Citrates Market 2023-2030 ($M) - Global Industry Research
1.4 Succinic Acid Market 2023-2030 ($M) - Global Industry Research
2.Global Bio Plasticizer Market By Type Market 2023-2030 (Volume/Units)
2.1 Epoxidized Soybean Oil Market 2023-2030 (Volume/Units) - Global Industry Research
2.2 Castor Oil-Based Plasticizers Market 2023-2030 (Volume/Units) - Global Industry Research
2.3 Citrates Market 2023-2030 (Volume/Units) - Global Industry Research
2.4 Succinic Acid Market 2023-2030 (Volume/Units) - Global Industry Research
3.North America Bio Plasticizer Market By Type Market 2023-2030 ($M)
3.1 Epoxidized Soybean Oil Market 2023-2030 ($M) - Regional Industry Research
3.2 Castor Oil-Based Plasticizers Market 2023-2030 ($M) - Regional Industry Research
3.3 Citrates Market 2023-2030 ($M) - Regional Industry Research
3.4 Succinic Acid Market 2023-2030 ($M) - Regional Industry Research
4.South America Bio Plasticizer Market By Type Market 2023-2030 ($M)
4.1 Epoxidized Soybean Oil Market 2023-2030 ($M) - Regional Industry Research
4.2 Castor Oil-Based Plasticizers Market 2023-2030 ($M) - Regional Industry Research
4.3 Citrates Market 2023-2030 ($M) - Regional Industry Research
4.4 Succinic Acid Market 2023-2030 ($M) - Regional Industry Research
5.Europe Bio Plasticizer Market By Type Market 2023-2030 ($M)
5.1 Epoxidized Soybean Oil Market 2023-2030 ($M) - Regional Industry Research
5.2 Castor Oil-Based Plasticizers Market 2023-2030 ($M) - Regional Industry Research
5.3 Citrates Market 2023-2030 ($M) - Regional Industry Research
5.4 Succinic Acid Market 2023-2030 ($M) - Regional Industry Research
6.APAC Bio Plasticizer Market By Type Market 2023-2030 ($M)
6.1 Epoxidized Soybean Oil Market 2023-2030 ($M) - Regional Industry Research
6.2 Castor Oil-Based Plasticizers Market 2023-2030 ($M) - Regional Industry Research
6.3 Citrates Market 2023-2030 ($M) - Regional Industry Research
6.4 Succinic Acid Market 2023-2030 ($M) - Regional Industry Research
7.MENA Bio Plasticizer Market By Type Market 2023-2030 ($M)
7.1 Epoxidized Soybean Oil Market 2023-2030 ($M) - Regional Industry Research
7.2 Castor Oil-Based Plasticizers Market 2023-2030 ($M) - Regional Industry Research
7.3 Citrates Market 2023-2030 ($M) - Regional Industry Research
7.4 Succinic Acid Market 2023-2030 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Bio Plasticizer Market Revenue, 2023-2030 ($M)
2.Canada Bio Plasticizer Market Revenue, 2023-2030 ($M)
3.Mexico Bio Plasticizer Market Revenue, 2023-2030 ($M)
4.Brazil Bio Plasticizer Market Revenue, 2023-2030 ($M)
5.Argentina Bio Plasticizer Market Revenue, 2023-2030 ($M)
6.Peru Bio Plasticizer Market Revenue, 2023-2030 ($M)
7.Colombia Bio Plasticizer Market Revenue, 2023-2030 ($M)
8.Chile Bio Plasticizer Market Revenue, 2023-2030 ($M)
9.Rest of South America Bio Plasticizer Market Revenue, 2023-2030 ($M)
10.UK Bio Plasticizer Market Revenue, 2023-2030 ($M)
11.Germany Bio Plasticizer Market Revenue, 2023-2030 ($M)
12.France Bio Plasticizer Market Revenue, 2023-2030 ($M)
13.Italy Bio Plasticizer Market Revenue, 2023-2030 ($M)
14.Spain Bio Plasticizer Market Revenue, 2023-2030 ($M)
15.Rest of Europe Bio Plasticizer Market Revenue, 2023-2030 ($M)
16.China Bio Plasticizer Market Revenue, 2023-2030 ($M)
17.India Bio Plasticizer Market Revenue, 2023-2030 ($M)
18.Japan Bio Plasticizer Market Revenue, 2023-2030 ($M)
19.South Korea Bio Plasticizer Market Revenue, 2023-2030 ($M)
20.South Africa Bio Plasticizer Market Revenue, 2023-2030 ($M)
21.North America Bio Plasticizer By Application
22.South America Bio Plasticizer By Application
23.Europe Bio Plasticizer By Application
24.APAC Bio Plasticizer By Application
25.MENA Bio Plasticizer By Application
26.DOW Chemical Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Evonik Industries, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Solvay S.A., Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Lanxess AG, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Polyone Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Bioamber Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Danisco Us Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Emery Oleochemicals LLC, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Matrica SPA, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Myriant Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
36.Vertellus Specialties Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)

The Bio Plasticizer Market is projected to grow at 9.4% CAGR during the forecast period 2024-2030.

The Bio Plasticizer Market size is estimated to be $ billion in 2023 and is projected to reach $5.1 billion by 2030

The leading players in the Bio Plasticizer Market are Cargill Inc., Evonik Industries, LANXESS AG, BASF SE, Emery Oleochemicals and others

The growing focus on sustainability and the ban on the use of single-use plastics are some of the major Bio Plasticizer Market trends in the industry which will create growth opportunities for the market during the forecast period.

Concerns over plastic pollution, demand for bioplastics, ban on phthalates and growing demand from end use industries are the driving factors of the market.