Bio Plasticizers Market
Bio Plasticizers Market Overview:
Plasticizers are additives used to increase or decrease the viscosity and to alter the physical properties of a material by reducing the attraction between polymer chains. The global bio plasticizers market was valued at USD 908 Million in 2016 and is projected to reach USD 1,900 million in 2022. The market is expected to grow at a CAGR of 10.02 % during the forecasted period of 2016 to 2022.
Plastics manufacturing led by polyvinyl chloride (PVC) remains the dominant application of the plasticizers due to improvements in physical properties. Plastic production accounted for 9.4 million metric tons in 2015, which drives a sizeable demand. The primary drivers of growth are packaging materials and medical devices. Thus, growing end use and prospering complementary industries are the prime drivers of the market.
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Bio Plasticizers Market Key Players:
Bio Plasticizers Market includes are: The Dow Chemical Company, Bioamber Inc., Vertellus Specialties Inc., Danisco Us Inc., Solvay S.A., Polyone Corporation, Emery Oleochemicals Llc, Myriant Corporation, Evonik Industries, Matrica Spa, Lanxess Ag and others.
Bio Plasticizers Market Regional Analysis:
North America region was the leading bio plasticizers market with an estimated highest market size and is projected to touch down Million Tons in 2017. The U.S. has represented the largest market in 2015 and is expected to reach in Millions by 2022 due to stringent regulation, technological advancement and increasing demand for polyvinyl chloride are the key drives in this region. The global packaging industry is projected to exceed USD 900 Billion by 2022, thus providing lucrative opportunities for industry participants to capitalize upon.
Geographically, North-America is forecasted to be the largest market for Bio Plasticizers during the forecast period accounting for more than one third of the total market. North-America is most prominent market and its market share has accounted for 38% of the total market in 2015, North America has been growing at faster pace due to rising manufacturing industries and demand for bio-based Plasticizers will aid in rise in growth of Bio Plasticizers Market. U.S has accounted.
Bio Plasticizers Market Competitive Landscape:
Bio Plasticizers report has analysed the level of competition among the key operating players in bio plasticizers market as well as sector growth and market scenario. The global bio plasticizers market comprises of broad range of suppliers operating in the market which includes large scale and medium scale manufacturers. The prominent operating players of bio plasticizers and medium level producers which has strong hold in the market have shifted their focus towards growth association specifically by Asia Pacific as moderate level and high-level suppliers belongs to this province specifically from Indonesia, India, Singapore, Bangladesh, South Korea, China, the Philippines, Taiwan, Malaysia, Australia, Japan, and Thailand.
Bio Plasticizer manufacturers include BASF SE, Evonik Industries, PolyOne Corporation among others. The major players are focusing on extending their product portfolio with bio-based plasticizers and broaden their customer base through expansion. The manufacturers are focusing on offering the plasticizers produced using bio-based ingredients approved by FDA. The developing countries are anticipated to pose lucrative opportunities for the leading manufacturers.
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Bio Plasticizers Market Application:
Bio Plasticizers Market is expected to witness high growth in near future. The factors driving the overall market include, increasing demand for decorative wall & floor covering, stringent regulations on phthalate-based plasticizers in various end-use industries, increasing demand for wire & cables among others. Phthalate based plasticizers account for more than 70% of the overall plasticizers market. Governments across the globe are restricting the use of phthalate-based plasticizers, due to their hazardous health effects. For instance, FDA has set a regulatory framework on the phthalate and other major plasticizers ingredients. Bio-based plasticizers which haves relatively low penetration in the market are anticipated to replace the phthalate-based plasticizers. For instance, DEHP is highly regulated in certain market, and is being replaced either by non-phthalates-based plasticizers or bio-based plasticizers. This is the most prominent factor driving the global plasticizers market across the globe.
Bio Plasticizers Market Table of Content to be Continue…….,
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