Global Bio Plasticizers Market Size & Outlook, 2023-2030
Global bio plasticizers market, 2018-2030 (US$M)
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Global bio plasticizers market highlights
- The global bio plasticizers market generated a revenue of USD 3,052.9 million in 2023 and is expected to reach USD 5,316.0 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 8.2% by 2030.
- In terms of segment, epoxidized soybean oil (esbo) accounted for a revenue of USD 1,084.6 million in 2023.
- Castor oil-based plasticizers is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 3,052.9 million |
| Market revenue in 2030 | USD 5,316.0 million |
| Growth rate | 8.2% (CAGR from 2023 to 2030) |
| Largest segment | Epoxidized soybean oil (esbo) |
| Fastest growing segment | Castor oil-based plasticizers |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Epoxidized soybean oil (ESBO), Castor oil-based plasticizers, Citrates, Succinic Acid, Other Products |
Other key industry trends
- In terms of revenue, the North America accounted for 35.8% of the global bio plasticizers market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, Mexico is the fastest growing regional market and is projected to reach USD 268.1 million by 2030.
Epoxidized soybean oil (esbo) was the largest segment with a revenue share of 35.53% in 2023. Horizon Databook has segmented the Global bio plasticizers market based on epoxidized soybean oil (esbo), castor oil-based plasticizers, citrates, succinic acid, other products covering the revenue growth of each sub-segment from 2018 to 2030.
Key raw materials used for manufacturing Bio Plasticizers include castor oil, soybean oil, linseed oil, and others. Increasing application scope of bio plasticizers in a wide range of end-use industries such as automobiles, construction, packaging, textiles, transport, and agriculture is expected to trigger the industry growth in the coming years.
In automotive transportation sector, plasticizers are used to enhance the properties of plastics that are increasingly being used as replacements for heavy metal components in vehicles. The use of plastic components in vehicle interior components as well as exteriors, instead of metal parts, has resulted in the reduction of vehicle weight, which, in turn, has resulted in reducing fuel consumption and therefore, lower emissions.
Construction industry has been a major contributor to GDP growth for several countries. In terms of construction demands worldwide, USD 94 trillion is estimated for infrastructural investments in the coming two decades to fill in the current bridge of constructing over 13,000 buildings per day from 2021 to 2050.
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Bio Plasticizers Market Scope
Bio Plasticizers Market Companies
| Name | Profile | # Employees | HQ | Website |
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Global bio plasticizers market size, by region, 2018-2030 (US$M)
Top 10 countries by Bio Plasticizers Market revenue, 2023 (US$M)
Global bio plasticizers market share, by product, 2023 & 2030 (%, US$M)
Bio plasticizers market: Opportunity assessment by country
Global bio plasticizers market, by region, 2023 (US$M)
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