Global Bio plasticizers Market is expected to grow with the CAGR of 10.02 % from 2016 to 2022, and with this it is predictable to cross USD 1,900 Million by 2022.
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.
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The key players of Bio Plasticizers market report 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 and others.
“North-America is projected to be the largest market during the forecast period”
Geographically, North-America is expected to be the largest market for bio plasticizers accounting more than one third of the total market. North-America is most prominent market and its market share has accounted for 38% of the total market in 2015, North America has been growing at faster pace due to rising manufacturing industries and demand for bio based plasticizers will aid in rise in growth of bio plasticizers market. U.S has accounted.
APAC is one of the growing region due to its economies, cheap labor cost in APAC and economical material used for production process. Moreover, Asia Pacific is projected to be the fastest growing market mainly due to medical, consumer goods, wires & cables, building & construction & others applications. While, Middle East & Africa regions are at the emerging stage in the bio plasticizers market.
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Scope of the study
The scope of the study categorizes the Bio Plasticizers market as type, and application.
- By Type
- Castor oil
- succinic acid
- By Application
- Packaging materials
- Medical devices
- Consumer goods
- Wires & Cables
- Building & Construction
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