Plasticizers are compounds incorporated in a polymer matrix to increase its flexibility and improve the chemical properties of the plastic product. Addition of a plasticizer can lower the glass transition temperature, melt viscosity and elastic modulus of the polymer. Earlier phthalate-based plasticizer represented 85% of the total plasticizers market. However, stringent government regulations and rising health concerns of the consumers, stimulated the demand of bio-plasticizers. In order to assure sustainability, end users are looking for safe, bio-degradable and non-phthalate-based plasticizers.

Bio-based plasticizers are widely used as additives in PVCs. They are used in PVC resins, PVC cables, vinyl flooring, wire jacketing, automobile parts etc. The use of bio-plasticizers for wire applications can enable cable manufacturers and original equipment manufacturers (OEMs) reduce carbon gas emission by up to 40%. Also, plasticizers are the most commonly used additives used in plastic industries. Bio-based plasticizers are produced from vegetable raw materials and are used as an alternative of petroleum based plasticizers. The raw material used for production of bio-plasticizers are castor oil, soybean oil, palm oil and starch. Epoxidized Soybean Oil (ESBO) are the most commonly used bio-plasticizer. ESBO is manufactured from soybean oil through a process of epoxidation. ESBO is one of the most preferred additives in PVC gasket used particularly in food packaging.

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Bio-Plasticizers Market: Drivers & Restraints

Growth in end user industries in developing nations such as India, China, Brazil etc. are expected to drive the bio-plasticizers market during the forecasted period. Tight supply of harmful phthalate such as BBP, DEP, DBP, DOP and increasing consumer awareness are driving the growth of bio-plasticizers. Ban on phthalate-based plasticizers in consumer goods, food packaging material and medical products have led to the development of eco-friendly bio-based plasticizers. Higher cost of bio-plasticizers as compared to phthalate-based plasticizers is a key challenge faced by bio-plasticizers market. These bio-plasticizers, when used for cable manufacturing, offer various advantages in terms of electrical and temperature performance as compared to traditional plasticizers.

Bio-Plasticizers Market: Segmentation

On the basis of product type, the global Bio-Plasticizers market is segmented into

Epoxidized Soybean Oil(ESBO)
Citrates
Castor Oil
Succinic Acid

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On the basis of application, the global Bio-Plasticizers market is segmented into

Package Materials
Medical Devices
Consumer Goods
Wire & Cables
Building & Construction
Automotive

Bio-Plasticizers Market: Region-wise Outlook

Current, North America serves as a largest market for bio-plasticizers due to flourishing sectors such as medical devices, chemicals and consumer goods. Europe is estimated to be matured markets. North America and Europe account for a larger share in the market due to growth in manufacturing and healthcare industry. Various efforts made by different regulatory authorities to promote environmental friendly products have led to increase in the demand of bio-plasticizers in developed regions. Middle East & Africa bio-plasticizers market are still at a nascent stage. However, emerging countries such as UAE and Brazil are expected to have a significant market share in the near future. Asia Pacific (excluding Japan) is estimated to be the fastest growing market in terms of market share by value, particularly in medical, wires & cables, and packaging materials applications.

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Bio-Plasticizers Market: Key Players

Some of the key market participants in the global Bio-Plasticizers market are The Dow Chemical Company, Bioamber Inc., Vertellus Specialties Inc., Danisco Us Inc., Solvay S.A., Dow Chemical Company, Polyone Corporation, Emery Oleochemicals Llc, Myriant Corporation, Evonik Industries, Matrica Spa, Lanxess Ag