Global Eco-friendly Plasticizers Market Insights Forecasts to 2033

• The Global Eco-friendly Plasticizers Market Size was Estimated at USD 1.55 Billion in 2023
• The Market Size is Expected to Grow at a CAGR of around 6.65% from 2023 to 2033
• The Worldwide Eco-friendly Plasticizers Market Size is Expected to Reach USD 2.95 Billion by 2033
• Asia Pacific is expected to grow the fastest during the forecast period.

The Global Eco-friendly Plasticizers Market Size is anticipated to exceed USD 2.95 Billion by 2033, growing at a CAGR of 6.65% from 2023 to 2033. The advancement in environmental awareness and the need for safer, non-toxic alternatives to traditional plasticizers are driving the market for eco-friendly plasticizers.

Market Overview

The eco-friendly plasticizers market refers to the industry involving bio-based plasticizers derived from renewable sources such as vegetable oils and starches. Eco-friendly plasticizers are non-toxic, biodegradable, and derived from renewable resources, used to make environmentally friendly plastics. Concerns about the health effects of phthalate-based plasticizers are growing, which leads to a shifting preference for eco-friendly plasticizers as environmentally friendly plasticizers with more sustainability and less toxicity are needed. Further, environmentally friendly plasticizers are likewise becoming more and more appealing due to improved production methods and sophisticated biodegradable materials. The market for environmentally friendly plasticizers has prospects in consumer goods, construction, and packaging. The market is expanding as a result of stronger laws governing harmful compounds and growing consumer desire for sustainable products.

Report Coverage

This research report categorizes the eco-friendly plasticizers market based on various segments and regions forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the eco-friendly plasticizers market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the eco-friendly plasticizers market.

Driving Factors

The increasing regulatory concerns over phthalates and their potential health impacts on humans are contributing to propelling the eco-friendly plasticizers market. The growing need for bio-based materials across packaging, automotive, construction, and medical industries is driving the market expansion for eco-friendly plasticizers.

Restraining Factors

The increased cost of eco-friendly plasticizers compared to phthalate plasticizers is challenging the eco-friendly plasticizers market growth.

Market Segmentation

The eco-friendly plasticizers market share is classified into product and application.

• The bio-based segment accounted for the largest share of the eco-friendly plasticizers market and is expected to grow at a significant CAGR during the forecast period.

Based on the product, the eco-friendly plasticizers market is classified into bio-based and non-phthalate. Among these, the bio-based segment accounted for the largest share of the eco-friendly plasticizers market and is expected to grow at a significant CAGR during the forecast period. Bio-based plasticizer is derived from renewable plant-based sources such as vegetable oils which makes them more environmentally friendly.

• The packaging materials segment dominated the market with the largest revenue share of more than 33.0% in 2023 and is anticipated 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 and transportation, building and construction, textile, agriculture and horticulture, and others. Among these, the packaging materials segment dominated the market with the largest revenue share of more than 33.0% in 2023 and is anticipated to grow at a significant CAGR during the forecast period. Plastics based on bioplasticizers are widely utilized in packaging applications, including films and sheets, food and beverage packaging, personal care packaging, and packaging for domestic care products.

Regional Segment Analysis of the Eco-friendly Plasticizers Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the eco-friendly plasticizers market over the predicted timeframe.

North America is anticipated to hold the largest share of the eco-friendly plasticizers market over the predicted timeframe. The increasing need from the packaging industry along with the growing environmental concerns and attempt to reduce pollution in the region is driving the eco-friendly plasticizers market. The extensive RandD efforts in bio-based materials, diverse industrial applications, and strict environmental regulations are the several factors supporting the market growth.

Asia Pacific is expected to grow at the fastest CAGR growth of the eco-friendly plasticizers market during the forecast period. The upsurging needs for flexible PVC and expanding packaging industries in the region are responsible for propelling the market. The fast industrialization and government support for homegrown manufacturing are the factors that significantly contribute to the market growth for eco-friendly plasticizers.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the eco-friendly plasticizers market along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• 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
• 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 and Transportation
• Building and Construction
• Textile
• Agriculture and 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 and Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East and Africa