Europe Bio Plasticizers Market Size & Outlook, 2023-2030
Europe bio plasticizers market, 2018-2030 (US$M)
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Europe bio plasticizers market highlights
- The Europe bio plasticizers market generated a revenue of USD 702.2 million in 2023.
- The market is expected to grow at a CAGR of 8.2% from 2024 to 2030.
- In terms of segment, epoxidized soybean oil (esbo) was the largest revenue generating product in 2023.
- Castor oil-based plasticizers is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, France is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 702.2 million |
| Market revenue in 2030 | USD 1,219.0 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 |
| Key market players worldwide | Avient Corp, Basf SE, Cargill, DIC Corp, Dow Inc, Evonik Industries AG, Lanxess AG, Solvay SA, PTT Global Chemical PCL ADR, Jungbunzlauer Suisse |
Other key industry trends
- In terms of revenue, Europe region accounted for 23.0% of the global bio plasticizers market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 1,293.9 million by 2030.
Epoxidized soybean oil (esbo) was the largest segment with a revenue share of 35.84% in 2023. Horizon Databook has segmented the Europe 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.
Europe bio-plasticizers market is anticipated to witness substantial growth over the coming years owing to various factors such as the presence of stringent environment-friendly laws, increasing environmental concerns among consumers, and rising R&D investments in bio-based plastics by private as well as public organizations.
In addition, government initiatives, such as the decision of the EU to minimize the overall consumption of single-use plastic products by about 80% in the region by 2022, are anticipated to propel the demand for bio-plasticizers over the forecast period.
However, the general consumer acceptability of bio-plasticizers is witnessing a rise across all European countries. The market is further anticipated to be driven by the increasing acceptance of bio-plasticizers in key end-use industries such as packaging, particularly of disposable plastic goods, and textiles.
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Bio Plasticizers Market Scope
Bio Plasticizers Market Companies
| Name | Profile | # Employees | HQ | Website |
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Europe bio plasticizers market size, by country, 2018-2030 (US$M)
Europe Bio Plasticizers Market Outlook Share, 2023 & 2030 (US$M)
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