Bio-Plasticizers Market is Increasing Application and its Likely to Boost Growth Upcoming Years

Pune, India, May 2019, MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global Bio-Plasticizers Market.  

Market Segmentation

Solvents that are derived from biomass and agricultural sources such as soybean oil, corn, beet, sugarcane, lactic acid, and bio-succinic acid are referred to as Bio-Plasticizers. These solvents are gaining momentum in the global market on account of their recyclability, bio-degradability, eco-friendly nature, low VOC emissions, high boiling point, and low toxicity. There is a growing preference for Bio-Plasticizers owing to less carbon emissions, depleting fossil fuels, and high efficiency.

The global Bio-Plasticizers market has been classified on the basis of type, application, and region. By type, the global green and bio-based solvents market has been segmented into bio-alcohols, bio-glycols, bio-diols, ethyl lactate, D-limonene, methyl soyate, and others (including hydrogen peroxide, bio-based butanediol, 2-methyltetrahydrofuran, etc.). Among these, the bio-alcohols, particularly the bio-ethanol segment dominated the global market on account of shifting focus from depleting petroleum sources. Methyl soyate is projected to be the fastest-growing segment by 2030 as it is a viable green alternative for industrial solvents.

Based on application, the global Bio-Plasticizers market has been classified into paints and coatings, industrial & domestic cleaning, printing inks, adhesives & sealants, pharmaceutical, cosmetics, agriculture, and others. Among these, the paints and coatings segment held the largest market share of more than 40% on account of the growing environmental concerns regarding usage of chemical-grade industrial solvents with a high VOC content in paints and coating solutions.

Market Segmentation

The Global Bio-Plasticizers Market has been categorized on the basis of type, application, and region.

Based on type, the global Bio-Plasticizers market has been segmented into bio-alcohols, bio-glycols, bio-diols, ethyl lactate, D-limonene, methyl soyate, and others (including hydrogen peroxide, bio-based butanediol, 2-methyltetrahydrofuran, etc.).

By application, the global Bio-Plasticizers market has been divided into paints and coatings, industrial & domestic cleaning, printing inks, adhesives & sealants, pharmaceutical, cosmetics, agriculture, and others.

The global Bio-Plasticizers market, by region, has been studied for five key regions—Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.

Competitive Analysis

Solvay (Belgium), Archer Daniels Midland Company (US), BASF SE (Germany), DowDuPont (US), Vertec BioSolvents (US), CREMER OLEO GmbH & Co. KG (Germany), Cargill, Incorporated (US), Corbion (The Netherlands), Merck KGaA (Germany), LyondellBasell Industries Holdings B.V. (US), Galactic (Belgium), and Arkema Group (France) are some of the key players operating in the global Bio-Plasticizers market.

Regional Analysis

North America dominated the global Bio-Plasticizers market on account of growing government support on production of Bio-Plasticizers due to its biodegradability and non-toxic nature. Moreover, the growing awareness regarding the benefits of green solvents over hydrocarbon solvents in pharmaceutical and printing ink applications is also expected to boost the regional market growth. The US is expected to be the major contributor to the regional market owing to the growing R&D focus on improving product quality and efficiency. Asia-Pacific is expected to be the fastest-growing market owing to easy availability of raw material, cheap labor, and growing demand for eco-friendly solvents. China is expected to be the leading market in the region due to the availability of low-cost feedstock and large presence of manufacturers.

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