Market Size of Bio-plasticizers Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 446.29 kilotons |
| Market Volume (2029) | 604.89 kilotons |
| CAGR (2024 - 2029) | 6.27 % |
| Fastest Growing Market | Europe |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Bio Plasticizers Market Analysis
The Bio-plasticizers Market size is estimated at 446.29 kilotons in 2024, and is expected to reach 604.89 kilotons by 2029, growing at a CAGR of 6.27% during the forecast period (2024-2029).
COVID-19 negatively impacted the market in 2020. During the pandemic, construction activities were temporarily halted due to the government-imposed lockdown. This led to a decrease in the consumption of bio-plasticizers based on flooring and wall coverings, wires, and cables, which, in turn, negatively impacted the demand for bio-plasticizers. However, the demand for packaging from the food and e-commerce segment significantly increased during this situation, which, in turn, stimulated the demand for packaging materials made up of bio-plasticizers, thus enhancing the market growth.
- Over the short term, the augmenting demand for bio-plasticizers for flexible PVC and the prohibition on phthalate-based plasticizers are expected to drive the growth of the market.
- The high cost of bio-plasticizers, when compared with conventional plasticizers, is likely to hinder the growth of the market.
- Ongoing research on bio-based plasticizers is likely to create opportunities for the market during the forecast period.
- The Asia-Pacific region is expected to dominate the market. It is also likely to witness the highest CAGR during the forecast period.
