Synopsis of Bio Plasticizers Market:
Globally, the Market for Bio Plasticizers is growing at a CAGR of 10.02% during forecasted period (2016-2022). Bio Plasticizers is a molecule that improves the fluidity and plasticity of polymeric material namely, plastics, paint and adhesive. In order to achieve this, two different solutions are used, the internal plasticization and the external plasticization. Bio Plasticizers have found vast application in various industries including, packaging materials, medical devices, consumer goods, wires & cables, building & construction & others. Among the non-petroleum-based plasticizers, bio-based plasticizers are the most promising materials for flexible PVC due to its environmental and renewable characteristics, but also its low toxicity and public acceptance. Citrate-based plasticizers and epoxidized soybean oil (ESO) are the most commonly used bio-based plasticizers. Additionally, Recently EU has forbidden the di-octyl phthalate use in plastics used for the production of toys and PVC food packaging owing to this the recent increasing request for new economically sustainable chemical products, bio-plasticizers have been developed.
Globally, Bio Plasticizers Market was valued at USD 908 Million in 2016 and is likely to reach USD 1,900 million in 2022, expanding at CAGR of 10.02% between 2016 and 2022. North America region was the leading bio plasticizers market with an estimated highest market size and is projected to touch down million tons in 2017. The U.S. has represented the largest market in 2015 and is expected to reach in millions by 2022 due to stringent regulation, technological advancement and increasing demand for polyvinyl chloride are the key drives in this region.
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North America accounts for the significant market share due to the growing demand for bio-based products primarily in the paper, packaging, textiles, and other industries. The increasing production of acrylonitrile butadiene, ethyl vinyl acetate, and styrene based materials is driving the market of this region. Government incentives have propelled Europe to the second position. Europe is the largest producer of biofuels has further stimulated the demand. Europe is led by Germany, France, and the U.K. and is expected to become the largest market due to the implementation of guidelines of Environmental Agency (EPA) and the Regulation for Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH) to substitute petroleum derived materials in end-uses by ecofriendly products.
Asia Pacific region led by China and India is anticipated to account for the fastest growth due to rapid industrial growth and end-use industries. The Middle East and Africa are expected to be led by Gulf economies of Saudi Arabia, UAE, Kuwait, and Qatar.
Study Objectives of Bio Plasticizers Market
To study detail of Bio Plasticizers Market by Source, by Application and by Region in forecasted period 2022.
To identify the market dynamics of Bio Plasticizers Market dynamics by drivers, restrains, opportunities and challenges.
To analyze various factors like value chain analysis and porters five forces model.
To provide historical and forecast revenue of market segment with respect to North America, Europe, APAC and RoW.
To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
To track mergers and acquisitions, strategic alliances, new product development of specified company.
Manufacturers and distributors of bio plasticizers.
Suppliers and traders of bio plasticizers.
Government, associations and industrial bodies.
Investors and Trade experts.
Consulting in chemical experts.
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