Bio-plasticizers Market Research Report Information by Type (Epoxidized Soybean Oil (ESBO), Succinic Acid, Sebacates, Citrates, Castor Oil), Application (Packaging Materials, Medical Devices, Consumer Goods, Flooring and Walls) and Region Forecast till 2032

Global Bio-Plasticizers Market Overview

The global bio-plasticizers market size was valued at USD 2.92 billion in 2023. The Bio-plasticizers industry is projected to grow from USD 3.22 billion in 2024 to USD 6.13 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.39% during the forecast period (2024 - 2032). Bio-plasticizers have significant potential to replace phthalates in personal care products, food packaging, medical devices, and toys. Usually, the production of bio-based plasticizers requires relatively expensive raw materials. 

The plasticizers are known to be compounds incorporated in a polymer matrix to enhance the product’s chemical properties, increase its flexibility, and aid the processing of the polymer. It reduces brittleness and imparts softness and plasticity. Usually, the bio-plasticizers are considered the biologically produced substances included in the polymers to build them pliable and workable. These bio-plasticizers are produced from raw materials like soybean oil, castor oil, starch, and stearic acid. It is based on natural sources and renewable. When the bio-plasticizers are added, they can lower the melt viscosity of the polymer, the glass transition temperature, and the elastic modulus. Moreover, these plasticizers are very important to improve the characteristic of the polymers that can suit the particular application.

The bio plasticizers market Trends report highlights that the intended audiences support the current market's growth in the assessment period. These intended audiences include plasticizers manufacturers, suppliers and distributors of raw materials and bio-plasticisers, manufacturers, research institutes, raw material suppliers, government bodies, and potential investors. 

COVID-19 Analysis

The global bio plasticizers market was projected to be impacted negatively by the covid-19 outbreak in the first half of 2020. This is because of the government-imposed lockdown on various constructive activities in the pandemic scenario. It has resulted in to decrease in demand for bio-plasticizers based on cables, wires, flooring and wall covering that, leading to a negative impact on the market for bio-plasticizers. 

However, the food and e-commerce segments have increased the demand for packaging in this situation, which is projected to enhance the bio-plasticizers packaging material as well as the growth of the bio plasticizers market in the forecast period. 

Chief Factors Existing In The Market

Key Market Drivers

The adoption of bio-plasticizers in polyvinyl chloride (PVC) is boosted due to the increasing demand for PVC in various applications like medical equipment and consumer goods. The global bio-plasticizers market growth is driven due to the ban on phthalate-based plasticizers and stringent regulations on safe applications of toys and food packaging. 

Additionally, the global bio-plasticizers market is fuelling because of the increasing concern for eco-friendly and safe plastic films in food packaging and a growing number of packaging industries. 

Market Challenges

The global bio-plasticizers market might face bigger challenges due to the stringent regulations and norms relating to bio-plasticizers.Moreover, the high cost associated with the production of bio-plasticizers might be one of the major challenges for the manufacturers and key players during the assessment period. 

Market Opportunities

The continuous product innovation and research and development are resulting in the production of highly efficient plasticizers and cost-effective plasticizers that is projected to bring lucrative opportunities for the bio-plasticizer manufacturers and key players. In addition, the global bio-plasticizers market is projected to bring significant opportunities in the forecast period due to the rising demand for the product in emerging countries like Asia-Pacific. 

Market Restraints

The global bio-plasticizers market growth might get affected in the further coming years due to the high cost of bio plasticizers.However, the strident rules and regulations relating to bio-plasticizers are estimated to hamper the bio plasticizers market Size during the forecast period. 

Cumulative Evaluation Of The Market

As per the bio plasticizers market Analysis, significant market growth has been evident in recent years, which is predicted to thrive in the further coming years. 

However, the market leaders in the bio plasticizers market are contributing significantly to boost up the performance of the regional markets across the world in the predicted years. 

Market Segmentation

As per the bio plasticizers market Forecast report, the global market has been segmented on the basis of application and type.

By Type: In terms of type segment, the global bio-plasticizers market has been divided into citrates, epoxidized soybean oil (ESBO), sebacates, succinic acid, glycerol esters, castor oil, and others.Of these, the epoxidized soybean oil is projected to hold the largest bio plasticizers market Value during the forecast period. 

By Application: Depending on the application segment, the global bio-plasticizers market has been segmented into medical devices, flooring and walls, packaging materials, wires and cables, consumer goods, and others.Among all these, packaging materials are projected to dominate the global market by generating the largest bio plasticizers market Share of 32% in the year 2017. 

Global Bio-Plasticizers Market Share, By Application, 2017 (%)  

Source: MRFR Analysis

Regional Analysis

Geographically, the global bio-plasticizers market is divided into various locations such as Asia-Pacific, Latin America, North America, the Middle East & Africa, Europe, and others. 

In 2017, the North American market for bio-plasticizers was estimated to lead the global market due to the imposition of stringent environmental regulations by the Environmental Protection Agency (EPA) of the US for the use of phthalate plasticizers in food packaging and medical equipment. In this region, the US nation is estimated to dominate the region due to the rising government spending on the replacement of bio-plasticizers and conventional non-degradable plasticizers. For instance, in 2017, the European bio-plasticizers market held the second-largest market share due to the increasing demand for bio-plasticizers in consumer goods and personal care products as well as the rising spending of the government on environmentally-friendly initiatives. In this region, Germany is considered to be the prominent market due to the increasing research and development investment for product development in the medical and packaging industries. Apart from these, there are other countries in the European region, such as Spain, France, Switzerland, and Italy, that are supporting the regional market development. 

Furthermore, the Asia-Pacific bio-plasticizers market is accounted to hold the highest CAGR throughout the research period because of the rising government investments in research and development for low-cost and effective bio-plasticizers production and increasing awareness regarding safe plasticizers and bio-degradable among the consumers. In this region, the countries like China are highly contributing due to the high consumption of plastics in consumer goods and packaging and the large consumer base across the areas. Apart from these, there are other countries that are contributing to the regional development, including Australia & New Zealand, South Korea, Japan and India. Moreover, the Middle East & Africa market for bio-plasticizers is projected to account for steady growth in the research period. In this region, Saudi Arabia and UAE are considered to be the major markets. However, moderate growth has been evident in Latin America in the current year due to the limited spending of the government on bio-plasticizers and lenient environmental regulations. 

Competitive Intensity Within The Industry 

As per the bio plasticizers Market Outlook report, the current market is supported by various key leaders who are implementing new strategies and ideas to enhance market growth. These key leaders include:

• DowDuPont (US),


• Evonik Industries AG (Germany),


• Vertellus Holdings LLC (US),


• Solvay (Belgium),


• Matrìca S.p.A. (Italy), 


• Emery Oleochemicals (Malaysia),


• Bioamber Inc (US), PolyOne (US), Myriant Corporation (US), 


• Lanxess AG (Germany).

These key leaders are focusing on new innovations and advanced technology to propel the bio plasticizers market Growth. Moreover, these market leaders are investing in the research and development associated with bio plasticizers. In addition, mergers and acquisitions and partnerships have also been added to enhance the market growth in the forecast period. 

Recent Market Developments

Sep 2021 Cargill is purchasing Arkema's epoxides business, which will provide the company with end-to-end production capabilities in bio-based plasticizers and polyols. The move will better provide its industrial customers with nature-derived alternatives to typical petroleum-based additives. The acquisition agreement involves a plant in Minnesota, United States. The plant is known for producing epoxidized vegetable oils. These specialty oils, also known as epoxides, are important components of Cargill's existing bio-based plasticizers and polyols portfolio. Cargill expects to gain full control of the production process by converting its commodity soybean oil into epoxides. Eventually, creating the bio-based plasticizers and polyols used to make a wide range of products that support everyday conveniences, such as shower curtain liners, with the acquisition of Arkema's epoxides business.

Aug 2021 Lanxess, a specialty chemicals firm, has announced the completion of its acquisition of Emerald Kalama Chemical, a specialty chemicals manufacturer situated in the United States. Lanxess, situated in Cologne, Germany, used liquid cash to support the purchase price of around $1.04 billion (€870 million). This acquisition, the second-largest in Lanxess' history, broadens the company's portfolio of specialty chemicals for industrial applications, particularly in the plastics, paints, coatings, and adhesive industries. The K-Flex range of non-phthalate plasticizers and coalescents for adhesives, coatings, sealants, and vinyl applications is significant to the new Lanxess portfolio.

CEMEX, S.A.B. de C.V. declared in 2023 that it will be introducing a new line of bio-sourced admixtures with a lower carbon footprint. Compared to conventional oil-based admixtures, these admixtures may have a carbon footprint as low as 70% since they use natural, renewable, and locally derived raw materials. In order to improve properties including strength, workability, and water demand, as well as to lower associated carbon emissions and encourage more environmentally friendly building methods, additives are added to concrete mixtures.

Evonik introduced ELATUR DINCD, a new and revolutionary plasticizer, in 2022. ELATUR DINCD, a cyclohexanoate, possesses a number of highly desired qualities, such as strong UV resistance and exceptional low-temperature flexibility.

Report Overview

As per the bio plasticizers market report, a significant CAGR of the global market has been projected in the forecast period. However, the report shows that the covid-19 pandemic has affected the global market negatively, but the key efforts of the manufacturers and key players have played a significant role in enhancing the performance of the global market. 

Moreover, this report has given the emphasis on the regional analysis, recent developments, market overview, market dynamics, market segmentation, and competitive analysis to understand the performance of the current market across the world. 

Key Industrial Segments

By Type:

• citrates, 


• epoxidized soybean oil (ESBO), 


• sebacates, 


• succinic acid, 


• glycerol esters, 


• castor oil,


• others

By Application: 

• medical devices, 


• flooring and walls, 


• packaging materials, 


• wires and cables, 


• consumer goods, 


• others

Report Attribute/Metric	Details
Market Size 2023	USD 2.92 Billion
Market Size 2024	USD 3.22 Billion
Market Size 2032	USD 6.13 Billion
CAGR	8.39% (2024-2032)
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Type, Application and Region
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Vendors	Solvay (Belgium), DowDuPont (US), Bioamber Inc (US), Vertellus Holdings LLC (US), PolyOne (US), Emery Oleochemicals (Malaysia), Myriant Corporation (US), Evonik Industries AG (Germany), Matrìca S.p.A. (Italy), and Lanxess AG (Germany)
Key Market Opportunities	R&D and product innovation have resulted in the production of cost-effective and highly efficient plasticizers
Key Market Drivers	Growing demand for polyvinyl chloride (PVC) in different applications Increase in the number of packaging industries and growing concern for safe and eco-friendly plastic films