U.S. Bio Plasticizers Market Size & Outlook, 2023-2030
U.S. bio plasticizers market, 2018-2030 (US$M)
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U.S. bio plasticizers market highlights
- The U.S. bio plasticizers market generated a revenue of USD 528.3 million in 2023 and is expected to reach USD 887.8 million by 2030.
- The U.S. market is expected to grow at a CAGR of 7.7% 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 528.3 million |
| Market revenue in 2030 | USD 887.8 million |
| Growth rate | 7.7% (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, U.S. accounted for 17.3% 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 North America, U.S. bio plasticizers market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 688.3 million by 2030.
Epoxidized soybean oil (esbo) was the largest segment with a revenue share of 35% in 2023. Horizon Databook has segmented the U.S. 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 U.S. bio-plasticizers market is expected to rise significantly over the forecast period on account of the growing demand for bio-based packaging in food and consumer goods industries. Bio-plasticizerbased plastics have higher tensile strength and are eco-friendly & convenient for use compared to conventional plastics.
Moreover, expanding composting infrastructure and rising governmental efforts to reduce landfilling, such as the U.S. 2030 Food Loss and Waste Reduction Goal, are anticipated to augment the demand for bio-based plastic bags or compostable bags used in the collection of food leftovers and other organic waste material 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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U.S. bio plasticizers market size, by product, 2018-2030 (US$M)
U.S. Bio Plasticizers Market Outlook Share, 2023 & 2030 (US$M)
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