Bio Plasticizers Market Information by Type(ESBO, Citrates, Castor oil, Succinic Acid and others), by Application (Packaging Materials, Medical Devices, Consumer Goods, Wires & Cables, Building & Construction and others) and by Region - Forecast to 2022
Pune, India -- (SBWIRE) -- 09/28/2017 -- Market Highlights
Bio plasticizer are those polymer that exhibits less chemical and better bio-degradability. Plasticizer is a polymer additive that helps in increasing the polymer's flexibility, elongation. Plasticizers are typically inactive organic materials with low vapor pressures and high boiling points.
The development of PVC as a commercially used polymer is connected to the development of additives used in the plasticization process. The improvement of bio-plasticizers is driven by growing consumer perception and limited supply of harmful phthalate. When phthalate plasticizers are in direct contact with bodily fluids, they have been found to be a health concern. Since they are readily miscible in organic solvents like saliva and plasma, there is a chance of ingesting or absorbing them during common medical procedures. It is believed that once they are absorbed, they get stored in the fatty tissue of humans and thus, can be disturbing to the development of embryo or fetus. Hence, Eco-friendly bio-based plasticizers for food packaging material, consumer goods and medical products are being developed due to ban on phthalate-based plasticizers. Global Bio plasticizers Market is expected to grow with the CAGR 10.02 % of more than from 2016 to 2022, and with this it is predictable to cross USD 1,900 Million by 2022.
Based on varying applications, bio-plasticizers market can be segmented into, packaging materials, medical devices, consumer goods, wires & cables, building & construction & others. Bio-plasticizers market can be segmented into various groups depending on the type of additive present in that bio-plasticizer. Some examples of additives used are as follows: acrylonitrile-butadiene-styrene (ABS), acrylics, bromobutyl rubber, butyl terpolymer, cellulose acetate, etc.
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The key players in market includes
- The Dow Chemical Company,
- Bioamber Inc.,
- Vertellus Specialties Inc.,
- Danisco Us Inc.,
- Solvay S.A.,
- Polyone Corporation,
- Emery Oleochemicals Llc,
- Myriant Corporation,
- Evonik Industries,
- Matrica Spa,
- Lanxess Ag
Bio plasticizers market as type and application is segmented into by type: ESBO, Citrates, Castor oil, succinic acid and others and by application packaging materials, medical devices, consumer goods, wires & cables, building & construction & others. Bio plasticizers such as ESBO, and castor oil-based, are anticipated to have high demand in their respective applications. ESBO was one of the majorly consumed plasticizer in 2016. The key driver for bio plasticizer are increasing demand in developing countries coupled with growing manufacturer's preference for phthalate free plasticizer in end-use products. However the higher cost of bio plasticizer is the major roadblock for the growth of the bio plasticizer market.
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Scope of the study
The scope of the study categorizes the Bio Plasticizers market as type, and application.
- Castor oil
- succinic acid
- Packaging materials
- Medical devices
- Consumer goods
- Wires & Cables
- Building & Construction
North America has dominated Bio Plasticizers Market in 2016
North America will be the ruling market for global bio plasticizers, anticipated to witness highest CAGR. The market has been growing due to various growing manufacturing sector namely, medical devices, chemicals and consumer goods. Europe and North America accounted for largest share in 2016 due to stringent regulation in various developed countries have led to boost the market for bio plasticizer.
Middle East and Africa bio plasticizers market are at the potential stage. Asia-Pacific are one of the fastest growing market specifically, china, India, south-Korea, with rise in development of emerging economies can cause countries like China, India, to contribute more amount of share in this market., it is projected to grow at the highest CAGR from 2015 to 2022.
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