Bio Plasticizer Market is segmented By Type (Cellulose Acetate, Protein-Based Plastics, Thermoplastic Starch, Polyhydroxyalkanoates, Poly (lactic acid) Plastics, Others), By Product Type (Epoxidized Soybean Oil, Castor Oil-Based Plasticizers, Citrates, Succinic Acid, Others), By Application (Wire & Cables, Film & Sheet, Flooring & Wall Covering, Medical Devices, Package Materials, Others), By End-User (Pharmaceutical, Packaging, Consumer Goods, Automotive & Transport, Building & Construction, Textiles, Agriculture & Horticulture, Others), and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Market Overview
A Report by DataM Intelligence estimates the Global Bio Plasticizer market to grow at a CAGR Of 7.2% during the forecast period 2024-2031. The market is expected to grow due to increasing demand from Pharmaceutical, Packaging, Consumer Goods, Automotive & Transport, Building & Construction. The competitive rivalry intensifies with Evonik, Lanxess AG., Solvay S.A., and others operating in the market.
Bio plasticizers are bio-based plasticizer which acts as an additive to determine the physical properties of polymers and materials. The biodegradability and compostability of bio plasticizers depend on the chemical structure rather than the feedstock source.
As per the 2016 report by U.S Department of Agriculture (USDA), bio-based products are commercial or industrial goods composed of a significant part of biological products. Moreover, bio-based plastics, including bio-enriched polyurethane manufactured using polypropylene monomers derived from dehydration of bio-butanol, modified vegetable oils and polyethylene monomers derived from the dehydration of bio-ethanol and poly monomers. Furthermore, catalytic pyrolysis or biomass gasification has at least partial sourcing from plants and constitutes emerging technologies expected to drive the market during the forecast period.
Furthermore, Bio plasticizers have gained popularity in the manufacturing evolution due to their unique properties that allow for less material needed to meet performance goals, better heat stability, less stabilizers, faster fusion and many other key performance indicators. Some of the major properties of bio plasticizers include compatibility, volatility, exudation/extraction/migration, efficiency and thermal stability.
Market Summary
| Metrics | Details |
| Market CAGR | 7.2% |
| Segments Covered | By Type, By Product Type, By Application, By End User, and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
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Market Growth Trends
The growing shift of consumers and manufacturers towards sustainable materials drives the market share for bio plasticizers.
The growing shift of consumers and manufacturers toward sustainable materials is driving the market share for bio plasticizers
Consumers and manufacturers globally demand materials made without petrochemicals, especially due to growing potential concerns around toxicity and sustainability. As a result, the industry is seeing more innovation across the plasticizer's value chain, thus, transforming vegetable oil into highly functional compounds with additional benefits such as durability, flexibility and heat stability to a wide range of industrial products.
Bio-based plasticizers are growing in manufacturing evolution due to their unique properties that allow for less material needed to meet performance goals, less stabilizers, faster fusion, better heat stability and many other key performance indicators. They are also proving to not only meet but exceed more conventional (petro-based) processes by delivering strong results when measured against proven industry standards.
Given all these benefits and the overall environmental improvement, bio-based plasticizers are revolutionizing the production of a wide range of daily items, including flooring, apparel, wires, cables, sporting goods, toys, construction materials and more. Various major players are investing in the business, such as the global ag and manufacturing companies like Cargill, which are getting into the industry and recently launched BioveroÔ, its first bio-based plasticizer, in 2021. The final output of a full-scale, end-to-end manufacturing capability, Biovero, better serves its industrial customers by providing them with natural substitutes for conventional petroleum-based additives.
Furthermore, in 2021, Perstorp, pioneering in the PVC market, launched Emoltene 100 Pro. The product is a durable DPHP plasticizer based on renewable material. The product is a dipropylheptyl phthalate (DPHP) which is specially designed to support sustainable sourcing of renewable and recycled raw materials and reduce carbon dioxide emission throughout the value chain.
The presence of traditional plasticizer as alternative create a huge challenging atmosphere for the growth of bio plasticizer
Plasticizers are compounds used to improve the plasticity of the material. They are often involved in the production of plastic products/packaging, thermal printing paper, implanted medical devices, epoxy resins (coating cans for food and beverage), water pipe lining and in the production of mobile phones, plastic food containers, CDs and DVDs, eyeglass lenses, dental sealants, drinking bottles, food packaging, among many others.
The market for plasticizers has shown unprecedented growth in the past few years; however, associated side effects and stringent regulations led to the demand for bio plasticizers. Although bio plasticizers have a wide range of advantages, the product share is much less in the plasticizer industry. The high cost of bio plasticizers is the prime factor for the growth of the traditional plasticizer industry, creating huge challenges for the growth of the other compound.
Furthermore, the petrobased plasticizer offers excellent mechanical properties with easy processability and can save energy and resources compared to other materials depending on the application.
Various key players in countries like India and China have shifted towards bio-based plasticizers. However, the major volume of the product they produce is still petro based. Less investment with no R&D support has helped plasticizers dominate the market in the forecast period.
For instance, in 2017, The Perm subsidiary of Russian gas and petrochemicals giant Sibur and the Perm territorial government signed an eight-year-long special investment contract to set up a plant producing the plasticizer dioctyl terephthalate (DOTP). The investment contract is a new non-financial instrument designed to promote and support the creation of new production facilities.
COVID-19 Impact on Market
The global Bio Plasticizer market experienced a decline in 2020 owing to COVID-19's impact. The governments took measures to curb the spread of the emerging COVID-19 pandemic. The imposition of strict lockdowns and movement restrictions of varying durations has hampered the growth of various industries. The lockdowns and other forms of movement restrictions brought a complete halt to construction and manufacturing activities, barring essential services.
Thus, this reduced the consumption of bio-plasticizers based on flooring and wall coverings, wires and cables, which, in turn, affected the market demand for the product. Similarly, many components are in the automotive, healthcare, consumer goods and textile industries. Many manufacturing units temporarily suspend operations or cut back production, thereby depressing the demand for bio plasticizers.
Market Segmentation Analysis
The global bio plasticizer market is segmented by type, product, application, end-user and region.
Due to cellulose acetate properties and biodegradability, it is being widely employed by manufacturers
The global bio plasticizer market is segmented into cellulose acetate, protein-based plastics, thermoplastic starch, polyhydroxyalkanoates, poly (lactic acid) plastics and others. Cellulose acetate dominates the market of the mentioned types.
Cellulose acetate is an insoluble cellulose derivative that is nontoxic, nonirritating, biodegradable, more heat resistant and has a lesser hygroscopicity. Between 29.0% and 44.8% of cellulose acetate are acetylated, corresponding to mono-, di- and triacetate. It is cellulose in a partly acetylated state. Semipermeable coatings on tablets, particularly in osmotic pump-type tablets and microparticles for regulated medicine release, are provided by cellulose acetate.
Excess acetic anhydride is coupled with cellulose, one of the planet's most plentiful renewable organic resources, to create cellulose acetate, a biobased and biodegradable polymer. Some hydroxyl groups are changed into acetyl groups through esterification processes. Melting characteristics contribute to the 2.5 degree of substitution (DS), which is the most common.
Cellulose acetate is one of the polymeric materials used most frequently in osmotic pump delivery systems. When used with other materials, the controlled release of cellulose acetate sheets eliminates the need for standard osmotic pumps' requirement that a hole is drilled in the coating.
Furthermore, its properties and biodegradability, cellulose acetate, are being widely employed by manufacturers. For instance, since November 2, 2021, Eastman Chemical has been supplying Mazzucchelli 1849 in Italy, a reputable manufacturer and distributor of high-quality eyeglasses cellulose acetate sheets, with its Acetate Renew, a cellulose diacetate composed of 60% biobased and 40% recognized recycled content. To develop sustainable innovation in the eyewear sector, the two companies have now teamed together with Italian luxury eyewear producer Thélios.
Market Geographical Share
The market for bio plasticizers in Europe is anticipated to be driven by the presence of significant personal care and cosmetic product production facilities.
With an expanding number of manufacturers and different market suppliers of personal care & cosmetics items, pharmaceutical products and automobile manufacturers invading the regional ecosystem, Europe is governed by large economies like UK, Germany, France, Italy and Spain.
The robust, flexible PVC applications used primarily in the wire and cable, automotive and construction industries account for more than 85% of all European plasticizers. Several plasticizers are employed in non-PVC applications, such as paints, rubber goods, adhesives and sealants. Plasticizers are among the chemical chemicals that have received the most rigorous testing for potential health and environmental impacts due to their widespread use. The world's most specific product safety regulation, REACH, makes it possible for plasticizers to be used safely in Europe.
Bio plasticizers are employed as additives in producing cosmetic goods, including scents, lipstick, shower gel and dental care. The market for bio plasticizers in Europe is anticipated to be driven by the presence of significant personal care and cosmetic product production facilities.
Companies and Competitive Landscape
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.
The major companies are adopting several growth strategies, such as product launches, acquisitions and collaborations, contributing to the global growth of the bio plasticizer market.
For instance, On October 18, 2021, Cargill launched Biovero bio-based plasticizer, which is used for product manufacturing applications such as flooring, clothing, cables, wires, plastic films and sheets for its industrial level. These products are now available North American region and the company plan to expand these products globally.
Matrica S.p.A
Overview: Matrìca is the collaborative venture between Versalis (Eni), which specializes in the marketing and manufacturing of petrochemical products and Novamont, the manufacturer in the bioplastics industry. Matrica S.P.A. fabricates and markets petrochemical derivatives. The company offers plasticizers, intermediates, lubricants, cosmetics and bio-products. Matrica provides products in the bioplastics market. Matrica serves clients in Italy. The research and expertise of these two groups were key in an industrial reconversion task of the Prto Torres site that led to an integrated forum for chemistry from renewable sources
Product Portfolio: PF801 bioextensor oil: The PF801 bioextensor oil has been specifically designed for the rubber industry, particularly for tires, as a full or partial substitute for extender oils of fossil origin. The tires obtained in this way have better performance in terms of rolling resistance and grip on wet asphalt and help reduce fuel consumption.
Key Development
On January 27, 2022, LANXESS, Matrìca, Novamont and JV between Versalis (Eni) collaborated to create sustainable biocide preservatives from renewable raw materials. From January 2022, the Matrìca Porto Torres plant supplies LANXESS with bio-based raw materials from vegetable oils, which LANXESS will use to fabricate a new series of industrial preservatives, widening its Preventol range.
