Global Bio Plasticizers Market Size & Outlook

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.