Bio plasticizers are polymer additives meant for improving flexibility, softness, workability, and volatility of the plasticized materials. These are based on renewable resources and produced from vegetable raw materials such as soybean, palm, castor oil, citrates, stearic acid, and starch. They may be internal or external based on the kind of modifications done to the materials to which they are added. Bio plasticizers are available as different types in market among which epoxides and castor oil based types (sebacates & glycerol esters) are highly adopted. They can replace phthalates in toys, food packaging, medical devices, and personal care products as phthalates are banned by different government in these commodities.
Seattle, WA -- (SBWIRE) -- 11/14/2019 -- 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.
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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.
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.
Key Leading Players operating in bio plasticizers industry are Bioamber, DuPont, DOW Chemical, Emery Oleochemicals, Evonik Industries, Lanxess, Matrìca, Myriant, PolyOne, Vertellus Holdings, Solvay.
Regional Insights:
China emerged as the dominant country for over 44% of the global consumption in 2016 and is projected to grow significantly in the coming years. High urbanisation coupled with rapid industrialisation is expected to have spurred the bio-plasticizers demand in the country. Furthermore, high consumption of bio-based packaging material products in emerging economies including India, Japan, and Taiwan have contributed to the demand over the recent past.
The North America captured the highest market share due to sustained expansion and technological advancement of packaging and consumer goods industries. The booming automotive & transport sector in North America is a key factor responsible for the continued growth of the bio-plasticizers market in the region.
Moreover, the government is taking initiatives to support adoption of bio-based plastics in manufacturing processes is further boosting the regional market growth. The US EPA and EU regulations and legislations have imposed policies aiming at encouraging sustainable manufacturing practices, development of eco-friendly products, and decreasing carbon footprint which is positively influencing the market.
Key questions answered by the report:
- What was the market size from 2014 to 2016?
- What will b market growth till 2027 and what will be the resultant rnarket forecast in the year?
- How will the market drivers, restraints and future opportunities affect the market dynamics and a subsequent analysis of the associated trends?
- What segment or region will drive or lead market growth and why?
- A comprehensive mapping of 01 competitive landscape and the market participants' behavior.
- What are the key sustainability strategies adopted by market players? An In-depth analysis of these strategies and their impact on competition and growth
Key Benefits for Stakeholders:
1. The report offers extensive bio plasticizers market analysis of the factors that drive as well as restrain the growth.
2. Market projections are included along with the impacting factors from 2014 to 2027.
3. The report also provides quantitative as well as qualitative trends to assist the stakeholders understand the market scenario.
4. In-depth analysis of the key market segments demonstrate the consumption of bio plasticizers in varied applications across different end-user industries.
5. Winning strategies segment highlights the business practices adopted by leading players across various geographies.
Segments covered in the report:
This report forecasts revenue growth and provides an analysis on the latest trends in each of the sub-segments from 2014 to 2027. For the purpose of this report, Worldwide Market Report has segmented the global bio-plasticizers market on the basis of carbon chain lengths, product, application and region.
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