Increasing Demand for PVC Dominating Bio Plasticizers Market
The report “Bio Plasticizers Market" by type (ESBO, Citrates, Castor oil, succinic acid & others), by application (packaging materials, medical devices, consumer goods, wires & cables, building & construction & others), by region - Trends & forecasts to 2020” defines and segments the bio plasticizers market with an analysis and forecast of its volume and value.
Browse 113 market data tables and 72 figures spread through 175 pages and in-depth TOC on “Bio Plasticizers Market - Trends & forecasts to 2020"
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The market size for bio plasticizers is projected to reach $1,140.3 Million by 2020, registering a CAGR of 9.8% between 2015 and 2020.
The report also defines the driving and restraining factors for the bio plasticizer market with the analysis of trends, opportunities, and burning issues, winning imperatives, strategic benchmarking and challenges. Some of the drivers include ban on phthalate plasticizer in consumer goods & medical products, stringent environmental norms & regulations, and developing economies.
One of the major restraining factors for the bio plasticizer market growth is higher cost compared to phthalate & non-phthalate plasticizer. There are some opportunities which will change the dynamics of the bio plasticizer industry in the years to come. These include increasing demand of environmentally friendly plasticizer, PVC, and other plastic products.
The market is estimated based on major regions, such as North America, Europe, Asia-Pacific, and Rest of the World (RoW) in terms of both value as well as volume. The regional bio plasticizers market is further segmented on the basis of major application.
“North America: One of the Biggest Markets of Bio Plasticizer”
North America is the most promising market for bio plasticizers and the trend is projected continue in the near future. North America is one of the largest markets for bio plasticizers, which accounted for a share of around 36.0% the total market in 2014.
The North American market for bio plasticizers is growing at a notable pace, which is primarily due to the growing manufacturing industry that is further pushing the demand for bio plasticizer. The demand for bio plasticizers in the region is projected to register a CAGR of around 10.0% between 2015 and 2020. The U.S. is the largest and fastest-growing market for bio plasticizers in the region. This is due to increasing domestic demand, and stringent norms & regulations.
Also, the increasing flexible PVC industry in the region is ultimately driving the demand for bio plasticizers in the region. Intensified efforts of different regulatory authorities to promote environmentally friendly products have led to higher growth of bio plasticizers in this region.
The Dow Chemical Company (U.S.), Vertellus Specialties Inc. (U.S.), Evonik Industries AG (Germany), Solvay S.A. (Belgium), Lanxess AG (Germany), BioAmber Inc. (Canada), Emery Oleochemicals Llc (Malaysia), Matrica S.P.A. (Italy), Polyone Corporation (U.S.), Myriant Corporation (U.S.), and Danisco Inc. (U.S.) are some of the major manufacturers of bio plasticizer, globally.
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