Bio Plasticizers Market Report 2024 - Market Size, Growth Rate, Major Drivers And Key Trends | ExxonMobil Corporation, Cargill Incorporated, BASF SE, Dow Inc., Evonik Industries AG, DuPont

"The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Bio Plasticizers Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The bio plasticizers market size has grown strongly in recent years. It will grow from $1.56 billion in 2023 to $1.69 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to growth in environmental concerns, stringent regulations on traditional plasticizers, renewable feedstock utilization, consumer awareness and preference for eco-friendly products, corporate sustainability initiatives..

The bio plasticizers market size is expected to see strong growth in the next few years. It will grow to $2.25 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to continued emphasis on sustainable packaging, expansion of bio-based polymers market, government support for bioeconomy, increasing demand for green building materials, shift in consumer preferences toward sustainable products.. Major trends in the forecast period include collaborations and partnerships, innovative solution launches, investments in research and development, application in medical devices and pharmaceuticals..

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Key Market Players:

Major companies operating in the bio plasticizers market report are ExxonMobil Corporation, Cargill Incorporated, BASF SE, Dow Inc., Evonik Industries AG, DuPont, Kao Corporation, Arkema S.A., Solvay S.A., Eastman Chemical Company, Lanxess AG, DIC Corporation, Avient Corporation, Roquette Freres, Jungbunzlauer Suisse AG, Emery Oleochemicals, Bioamber Inc., GC Innovation America, Biome Bioplastics, Cardia Bioplastics, Vertellus Specialties Inc, Matrìca S.p.A., Aurorium, Hebei Jingu Plasticizer Co. Ltd., Danisco Inc.

Market Drivers:

The flourishing construction industry is expected to boost the growth of the bio plasticizer market going forward. The construction industry is the commercial manufacturing and trade sector that develops, preserves, and repairs infrastructure. In the construction sector, bio-plasticizers are used for wire insulation and jacketing, which reduce water requirements and make concrete strong and workable. For instance, in April 2023, according to the reports shared by the United States Census Bureau, a US-based government agency, the overall value of residential and non-residential constructions in US increased by over 8 % between 2020 and 2021. Furthermore, in September 2021, according to reports published by Oxford Economics, a UK-based economic information services company, the global construction output was $10.7 trillion in 2020, and between 2020 and 2030, it is anticipated to increase by 42 %, or $4.5 trillion, to reach USD 15.2 trillion. Therefore, the flourishing construction industry is driving the growth of the bio plasticizer market.

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The bio plasticizers market covered in this report is segmented -

1) By Type: Sebacates, Succinic Acid, Citrates, Glycerol Esters, Epoxides, Other Types
2) By Application: Flooring And Walls, Film And Sheet Coverings, Wires And Cables, Coated Fabrics, Consumer Goods, Other Applications
3) By End-Use: Automobile, Packaging, Electrical And Electronics, Textiles, Building And Construction, Medical And Healthcare, Other End Uses

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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