Bio Plasticizers Market size is likely to increase in the coming years | key player are Bioamber, DuPont, DOW, Evonik, Myriant
Increase in demand for bio plasticizers for certain products, such as personal care cosmetics, toys, food contact materials, health care commodities, and others, are expected to create growth opportunities for various players in the market. Also, R&D on to obtain beneficial and economical bio plasticizers is anticipated to bring great opportunity for the market.
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The global market is projected to reach USD 1,709 million by 2022, growing at a CAGR of 3.3% from 2016 to 2022. The epoxides type held more than half of the global bio plasticizers market in 2015.
Epoxides and glycerol esters are expected to grow at the highest CAGR throughout the analysis period, due to their remarkable properties including non-toxic nature, high efficiency, improved heat stability, lower volatility, and others. These are employed in automotive, adhesive & sealants, paints & coatings, and other end uses.
In 2015, Asia-Pacific and LAMEA collectively accounted for more than half of the global bio plasticizers market, with lucrative CAGR and are expected to continue this trend. This is attributed to upsurge in construction & packaging industries, specifically in China, India, Brazil, and other developing economies.
Growth in urbanization & industrialization are the main reasons for growth of the bio plasticizers market in Asia-Pacific.
In 2015, the epoxide bio plasticizers covered maximum share of the market in terms of revenue followed by sebacates-a castor oil based plasticizer. This trend is expected to be followed during the forecast period as well, owing to the superior properties and ease of availability of these bio plasticizers.
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Another factor that supports their development is lesser cost compared to other types of bio plasticizers. The main applications employing bio plasticizers include floorings & walls and wires & cables.
Moreover, the wires & cables application segment accounted for second largest market share in 2015, and is expected to grow at the CAGR of 2.7% during the forecast period.
The major companies profiled in the report include Bioamber Inc., DuPont, DOW Chemical Company, Emery Oleochemicals, Evonik Industries, Lanxess AG, Matrìca S.p.A., Myriant Corporation, PolyOne Corporation, and Vertellus Holdings LLC.
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