Bio-Plasticisers Market Outlook
According to the report by Expert Market Research (EMR), “The Global Bio-plasticisers Market Size, Share, Analysis, Report and Forecast 2024-2032″,the Global Bio-plasticisers Market is projected to grow at a CAGR of 5.70% between 2024 and 2032. Aided by the expanding e-commerce channel and rising application of bio-plasticiser in food packaging, the market is expected to grow significantly by 2032.
Bio-plasticisers are substances added to polymers to improve their plasticity, flexibility, and reduce brittleness. Derived from renewable resources such as vegetable oils and fats, they are used in various applications, including packaging, construction materials, consumer goods, and medical devices. Due to their low toxicity, bio-plasticisers are a sustainable and safer alternative to traditional phthalate plasticisers.
The burgeoning demand for eco-friendly materials is primarily driving the global bio-plasticisers market growth. With rising environmental concerns and the increasing awareness of the harmful effects of conventional plasticisers, there has been a significant shift towards bio-plasticisers. Moreover, stringent government regulations regarding the use of phthalate plasticisers have further propelled the demand for bio-plasticisers, which are more compliant with environmental standards.
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The diverse applications of bio-plasticisers in numerous industries also contribute significantly to the bio-plasticisers market demand. In the construction industry, bio-plasticisers are used to enhance the flexibility and durability of materials like vinyl flooring and wall coverings. The packaging industry uses bio-plasticisers in the manufacturing of flexible packaging materials for food and beverages, healthcare products, and other consumer goods. Furthermore, the medical sector utilises bio-plasticisers in the production of medical devices and equipment, reducing the risk of toxic elements leaching into the body.
The rise of biopolymers in various sectors has led to an increased focus on bio-plasticisers as an essential additive. The growing popularity of biodegradable and compostable materials, paired with the ongoing research and development in the field, have led to the emergence of bio-plasticisers as a critical component in the production of such materials, thereby fuelling the bio-plasticisers market expansion.
The ongoing research to improve the performance and cost-effectiveness of bio-plasticisers, combined with the growing demand for sustainable and non-toxic materials, is expected to provide lucrative opportunities for further growth of the bio-plasticisers market.
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Bio-Plasticisers Market Segmentation
The market can be divided based on product, application, and region.
Market Breakup by Product
- Epoxidised Soybean Oil (ESBO)
- Castor Oil-Based Plasticisers
- Citrates
- Succinic Acid
- Others
Market Breakup by Application
- Packaging Materials
- Consumer Goods
- Automotive and Transport
- Building and Construction
- Textiles
- Agriculture and Horticulture
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Bio-Plasticisers Market Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global bio-plasticisers companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Evonik Industries AG
- BASF SE
- Lanxess AG
- Vertellus Specialties Inc.
- Solvay S.A.
- Others
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