Saudi Arabia Bio Plasticizers Market Size & Outlook
Saudi Arabia bio plasticizers market, 2018-2030 (US$M)
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Saudi Arabia bio plasticizers market highlights
- The Saudi Arabia bio plasticizers market generated a revenue of USD 113.7 million in 2023 and is expected to reach USD 183.2 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 7.1% 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.
Bio plasticizers market data book summary
| Market revenue in 2023 | USD 113.7 million |
| Market revenue in 2030 | USD 183.2 million |
| Growth rate | 7.1% (CAGR from 2023 to 2030) |
| Largest segment | Epoxidized soybean oil (esbo) |
| Fastest growing segment | Castor oil-based plasticizers |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Saudi Arabia accounted for 3.7% of the global bio plasticizers market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, Saudi Arabia bio plasticizers market is projected to lead the regional market in terms of revenue in 2030.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 183.2 million by 2030.
Epoxidized soybean oil (esbo) was the largest segment with a revenue share of 35.27% in 2023. Horizon Databook has segmented the Saudi Arabia 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.
Saudi Arabia's Vision 2030 is a comprehensive plan to diversify the country's economy and reduce its dependence on oil. One of the key objectives of Vision 2030 is to promote sustainable development and protect the environment. As a result, there is a growing interest in environmentally friendly products including bioplastics and bio-plasticizers.
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Bio Plasticizers Market Scope
Bio Plasticizers Market Companies
| Name | Profile | # Employees | HQ | Website |
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Saudi Arabia bio plasticizers market size, by product, 2018-2030 (US$M)
Saudi Arabia Bio Plasticizers Market Outlook Share, 2023 & 2030 (US$M)
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