Latin America Bio Plasticizers Market Size & Outlook
Latin America bio plasticizers market, 2018-2030 (US$M)
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Latin America bio plasticizers market highlights
- The Latin America bio plasticizers market generated a revenue of USD 258.3 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, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 258.3 million |
| Market revenue in 2030 | USD 449.7 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, Latin America region accounted for 8.5% 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 35.42% in 2023. Horizon Databook has segmented the Latin America 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.
Central & South America bio-plasticizer market is expected to grow substantially over the forecast period, owing to the changing consumer preferences over bio-based plastics, rapid industrialization, and increasing disposable incomes are some of the factors anticipated to drive the economy of the region in the next few years.
This is projected to fuel the demand for bio-plasticizers in the region over the forecast period. The recovering agriculture sector in Central & South America is also driving the demand for related materials and components.
Significant new investments in food packaging materials in Brazil are expected to boost the growth of packaging industry, which, in turn, is likely to augment the demand for bio-plasticizers over the forecast period.
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Bio Plasticizers Market Scope
Bio Plasticizers Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America bio plasticizers market size, by country, 2018-2030 (US$M)
Latin America Bio Plasticizers Market Outlook Share, 2023 & 2030 (US$M)
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