New York City, 05 February 2019: The global Bio-Plasticizer Market is anticipated to reach USD
2.75 billion by 2026 according to a new study published by Polaris Market
Research. Bio-plasticizers are the biodegradable compounds incorporated in a
polymer matrix to function as an additive. These compounds enhance the
flexibility in tandem with the chemical properties of the substrate material
such as plastic. Sources of bio-plasticizers are renewable based resources such
as vegetable oils including palm, soybean, and castor oil. Bio-plasticizers are
obtained from these vegetable oils with the help of external or internal
modifications and thus are environment-friendly additives.
One of the most crucial trend in the global bio-plasticizers
market includes the shift towards biodegradable products, which is also a
driving force for the bio-plasticizer market. Initially phthalate based
plasticizers accounted for over 80% of the total market share, however, the
picture has been quiet different in the last five three years. Rising awareness
regarding biodegradable products and increasing health concerns by customers to
ensure sustainability of the environment has significantly driven the
bio-plasticizers market.
The supportive government regulations for ban on the use of
phthalate in toys, food packaging, and other end-use products has stimulated
the growth of bio-plasticizer market. Regulatory agencies such as Consumer
Product Safety Commission (CPSC) have imposed restrictions on the use of
phthalate in flexible plastic toys and other related products that are harmful
for human health or do not degrade biologically.
The growth of end-use industries such as PVC packaging,
automotive, plastics, wires & cables, and medical devices have provided the
global vio-plasticizer market with even wider growth prospects.
Bio-plasticizers are broadly used in vinyl flooring, PVC cables & resins,
wire jacketing, and automobile fabricated parts. PVC market is one of
the largest end-use for bio-plasticizers as it is one of the most common
thermoplastic used for domestic and commercial applications. Moreover, PVC in
itself is very rigid and requires plasticizer for enhancing the flexibility
content.
Competitive
Landscape and Key Vendors:
The largest regional bio-plasticizer market was North America in
2017 with the United States as the major contributing nation. On account of
massive demand of certain end-use industry products such as in consumer goods,
chemicals, and medical devices has substantially driven this regional market.
Asia Pacific is anticipated to be the fastest growing regional market due to the
growth of end-use industries of its developing nations such as India,
Indonesia, and Korea.
Global bio-plasticizer market constitutes of large number of key
players. Some of the major market players include Lanxess AG, Emery
Oleochemicals LLC, Dow Dupont, Evonik Industries, Danisco US Inc., BASF SE,
Bioamber Inc., PolyOne Corporation, Myriant Corporation, and Vertellus Holdings
LLC.
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