Thailand Bio Plasticizers Market Size & Outlook, 2023-2030
Thailand bio plasticizers market, 2018-2030 (US$M)
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Thailand bio plasticizers market highlights
- The Thailand bio plasticizers market generated a revenue of USD 15.4 million in 2023 and is expected to reach USD 30.1 million by 2030.
- The Thailand market is expected to grow at a CAGR of 10% 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 15.4 million |
| Market revenue in 2030 | USD 30.1 million |
| Growth rate | 10% (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, Thailand accounted for 0.5% 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 Asia Pacific, China bio plasticizers market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 575.2 million by 2030.
Epoxidized soybean oil (esbo) was the largest segment with a revenue share of 36.36% in 2023. Horizon Databook has segmented the Thailand 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.
Thailand has a significant agricultural industry and thus, bioplastics made from agricultural waste products such as cassava and sugarcane are gaining popularity. This is increasing the demand for bio plasticizers derived from natural sources.
Furthermore, consumers in Thailand are becoming more environmentally conscious and are willing to pay for sustainable products. The demand for bioplastics, including those made with bio-plasticizers, is growing in response to this trend.
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Bio Plasticizers Market Scope
Bio Plasticizers Market Companies
| Name | Profile | # Employees | HQ | Website |
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Thailand bio plasticizers market size, by product, 2018-2030 (US$M)
Thailand Bio Plasticizers Market Outlook Share, 2023 & 2030 (US$M)
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