South Africa Bio Plasticizers Market Size & Outlook
South Africa bio plasticizers market, 2018-2030 (US$M)
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South Africa bio plasticizers market highlights
- The South Africa bio plasticizers market generated a revenue of USD 54.4 million in 2023 and is expected to reach USD 86.6 million by 2030.
- The South Africa market is expected to grow at a CAGR of 6.9% 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 54.4 million |
| Market revenue in 2030 | USD 86.6 million |
| Growth rate | 6.9% (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, South Africa accounted for 1.8% 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 34.74% in 2023. Horizon Databook has segmented the South Africa 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.
The National Environmental Management Act (NEMA) is the primary legislation that governs environmental management in South Africa. NEMA promotes sustainable development and requires companies to consider the environmental impact of their activities.
South Africa has implemented Extended Producer Responsibility (EPR) regulations that require manufacturers and importers to take responsibility for the environmental impact of their products throughout their lifecycles. This policy encourages the use of environmentally friendly materials such as 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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South Africa bio plasticizers market size, by product, 2018-2030 (US$M)
South Africa Bio Plasticizers Market Outlook Share, 2023 & 2030 (US$M)
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