Market Research Future published a half-baked study “ Global Bioplasticizers Market Research Report – Forecast to 2030” – Market Analysis, Scope, Issue, Progress, Trends and Forecast to 2030.
Solvay (Belgium), DowDuPont (USA), Bioamber Inc (USA), Vertellus Holdings LLC (USA), PolyOne (USA), Emery Oleochemicals (Malaysia), Myriant Corporation (USA), Evonik Industries AG (Germany), Matrìca SpA ( Italy) and Lanxess AG (Germany)
Bioplasticizers Market – Competitive Analysis
Major industry players continuously invest in R&D and innovation to develop improved products and enter new application areas. The majority of companies compete to compete with competitive commodity and energy prices to increase profit margins. However, the market is characterized by the presence of highly differentiated products resulting in high switching cost which is expected to enhance the strength of vendors.
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Bioplasticizers Market – Market Overview
The shift in trend towards bio-based products from end-use industries such as automotive, consumer goods, and construction is expected to drive the market growth over the forecast period. They exhibit properties such as better biodegradability and low toxicity compared to conventional plasticizers. Market bioplasticizers are added to the polymer matrix to improve chemical properties and flexibility.
Strict regulatory standards coupled with growing consumer health awareness are expected to remain key market drivers over the next seven years. Governments around the world are encouraging the use of biodegradable products to reduce environmental pollution and ensure sustainability. They are widely deployed as additives in PVCs which are ultimately used in PVC resins, cables, automotive parts, and metal sheaths.
Strong growth in automotive manufacturing in emerging economies in Asia-Pacific and Latin America is also expected to drive product demand. Furthermore, the ample availability of raw materials coupled with continuous product development is expected to further benefit the growth of the industry. Growing consumer awareness in developing Asia-Pacific economies such as China and India about the supply of hazardous phthalates such as benzylbutylphthalate (BBP) and diethyl phthalate (DEP) is expected to fuel demand of bioplasticizers.
They also have performance advantages when used for cable manufacturing, such as better electrical and thermal performance compared to conventional synthetic polymers. Bioplasticizers are mainly obtained from renewable raw materials such as castor oil, citrates and epoxidized soybean oil (ESBO). ESBO has become the preferred additive in PVC seals which are widely used in food packaging applications.
The growth of the packaging industry in developing regions is expected to positively influence the demand for bioplasticizers. Food packaging is the major consumer segment in the packaging application due to the benefits offered by bioplasticizers. Bio-based materials used in food packaging help maintain quality and extend the shelf life of food products. The global packaging industry is expected to surpass $900 billion by 2022, providing industry participants with lucrative opportunities to capitalize on.
Asia-Pacific has emerged as the top regional market and is expected to continue to dominate during the forecast period. Rapid urbanization coupled with significant economic growth in countries such as China, India, Japan, Thailand, Malaysia, and Indonesia is driving the growth of bioplasticizers. China is the largest country-level market in Asia-Pacific, with demand driven by population expansion and rising disposable income per capita.
Developed regions, including the United States, Canada, United Kingdom, and Germany, among others, are also expected to experience above-average growth rate owing to the maturity of end-use industries and general awareness among industry participants of the transition to environmentally friendly products.
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Industry/ Innovation/ Related News
June 2017: Emery Oleochemicals, a global manufacturer and supplier of specialty chemicals, announced the launch and commercial availability of its new low-temperature plasticizer EDENOL® DOZ, formulated to meet demand for easily azelaic acid-based plasticizers. available, especially for the use of PVC and synthetic rubber.
November 2016: Polyone Corporation announced the commercial launch of SynPlast L9TM plasticizer for flexible PVC. The product has similar characteristics to 810M Linear Plasticizer. These latter plasticizers have created huge problems for Polyone’s customers due to supply shortages. However, the company aims to undo the imbalance of supply and demand created and satisfy customers around the world.
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