Global Eco-friendly Plasticizers Market Size To Worth USD 2.95 Billion By 2033 | CAGR of 6.65%
Category: Chemicals & MaterialsGlobal Eco-friendly Plasticizers Market Size To Worth USD 2.95 Billion By 2033
According to a research report published by Spherical Insights & Consulting, The Global Eco-friendly Plasticizers Market Size is Expected to Grow from USD 1.55 Billion in 2023 to USD 2.95 Billion by 2033, at a CAGR of 6.65% during the forecast period 2023-2033.
Get more details on this report -
Browse key industry insights spread across 220 pages with 121 Market data tables and figures & charts from the report on the "Global Eco-friendly Plasticizers Market Size, Share, and COVID-19 Impact Analysis, By Product (Bio-based and Non-phthalate), By Application (Packaging Materials, Consumer Goods, Automotive & Transportation, Building & Construction, Textile, Agriculture & Horticulture, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033. "Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/eco-friendly-plasticizers-market
The eco-friendly plasticizers market is the industry comprising bio-based plasticizers derived from renewable sources like vegetable oils and starches. Eco-friendly plasticizers are used to create ecologically friendly plastics since they are non-toxic, biodegradable, and made from renewable resources. Environmentally friendly plasticizers with more sustainability and lower toxicity are becoming more and more popular as concerns about the health impacts of phthalate-based plasticizers develop. The market for environmentally friendly plasticizers has prospects in consumer goods, construction, and packaging. The stringent laws governing harmful compounds and increasing consumer desire for sustainable are contributing to drive market expansion. The increasing regulatory concerns over phthalates and their potential health impacts on humans are contributing to propelling the eco-friendly plasticizers market. On the contrary, the increased cost of eco-friendly plasticizers compared to phthalate plasticizers is challenging the market growth.
The bio-based segment dominated the market with the largest revenue share and is anticipated to witness a significant CAGR growth during the projected timeframe.
Based on the product, the eco-friendly plasticizers market is classified into bio-based and non-phthalate. Among these, the bio-based segment dominated the market with the largest revenue share and is anticipated to witness a significant CAGR growth during the projected timeframe. Bio-based eco-friendly plasticizers originating from renewable plant-based sources including vegetable oils are more environmentally friendly.
The packaging materials segment dominated the market with the largest revenue share of over 33.0% in 2023 and is expected to grow at a significant CAGR during the forecast period.
Based on the application, the eco-friendly plasticizers market is classified into packaging materials, consumer goods, automotive & transportation, building & construction, textile, agriculture & horticulture, and others. Among these, the packaging materials segment dominated the market with the largest revenue share of over 33.0% in 2023 and is expected to grow at a significant CAGR during the forecast period. Eco-friendly plasticizers are widely used in packaging applications, such as films and sheets, food & beverage packaging, personal care packaging, and domestic care products packaging.
North America is estimated to hold the largest share of the eco-friendly plasticizers market over the forecast period.
Get more details on this report -
North America is estimated to hold the largest share of the eco-friendly plasticizers market over the forecast period. The extensive R&D efforts in bio-based materials, diverse industrial applications, and strict environmental regulations are the several factors supporting the market growth. The increasing need from the packaging industry along with the growing environmental concerns and attempt to reduce pollution is driving the eco-friendly plasticizers market.
Asia Pacific is predicted to grow at the fastest CAGR in the eco-friendly plasticizers market over the forecast period. The fast industrialization and government support for homegrown manufacturing are the factors that significantly contribute to the market growth for eco-friendly plasticizers. Further, the upsurging need for flexible PVC and expanding packaging industries in the region is responsible for propelling the market.
Major key players in the global eco-friendly plasticizers market include BASF, Eastman Chemical Company, Evonik Industries AG, Lanxess, Dow Chemical Company, DIC Corporation, Cargill, Incorporated, Arkema Group, LG Chem, Valtris Specialty Chemicals, Perstorp, AVIENT CORPORATION, Emery Oleochemicals, Matrica S.p.A., Aurorium, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In October 2024, Evonik Oxeno is significantly expanding its production capacities for the INA-based plasticizers, ELATUR CH (DINCH) and ELATUR DINCD. These products, introduced in recent years, have established themselves as new standard plasticizers with Evonik Oxeno customers.
- In August 2024, BASF signed a Memorandum of Understanding (MoU) with UPC Technology Corporation (UPC), marking a significant step in their longstanding collaboration. This strategic partnership aims to foster long-term regional cooperation, focusing on the supply of plasticizer alcohols and catalysts for phthalic anhydride (PA) and maleic anhydride (MA), along with the development of sustainable solutions to reduce carbon emissions from operations and products.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the eco-friendly plasticizers market based on the below-mentioned segments:
Global Eco-friendly Plasticizers Market, By Product
- Bio-based
- Non-phthalate
Global Eco-friendly Plasticizers Market, By Application
- Packaging Materials
- Consumer Goods
- Automotive & Transportation
- Building & Construction
- Textile
- Agriculture & Horticulture
- Others
Global Eco-friendly Plasticizers Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
CONTACT US:
For More Information on Your Target Market, Please Contact Us Below:
Phone: +1 303 800 4326 (the U.S.)
Phone: +91 90289 24100 (APAC)
Email: inquiry@sphericalinsights.com, sales@sphericalinsights.com
Contact Us: https://www.sphericalinsights.com/contact-us
Need help to buy this report?