The U.S. bio plasticizers market size was exhibited at USD 529.75 million in 2023 and is projected to hit around USD 1,186.76 million by 2033, growing at a CAGR of 8.4% during the forecast period 2024 to 2033.
Report Coverage | Details |
Market Size in 2024 | USD 574.25 Million |
Market Size by 2033 | USD 1,186.76 Million |
Growth Rate From 2024 to 2033 | CAGR of 8.4% |
Base Year | 2023 |
Forecast Period | 2024-2033 |
Segments Covered | Type, Application |
Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
Country scope | U.S. |
Key Companies Profiled | Avient Corporation; Cargill, Incorporated; Dow, Inc.;ACS Technical Products; Emery Olechemicals; Valtris Specialty Chemicals; PolyOne Corporation; Vertellus LLC.; Mayriant Corporation. |
The surge in demand for bio-based packaging in the food and consumer goods sectors is driving the growth of bio plasticizers. These eco-friendly plastics are more convenient to use and have a higher tensile strength than traditional plastics, and are becoming increasingly popular. Moreover, the adoption of sustainable manufacturing practices in the plastic industry is expected to have a positive economic impact, promote resource efficiency, reduce waste and pollution, and open up new avenues for innovation and growth.
Plasticizers are compounds that are added to a polymer matrix to enhance its chemical properties, increase its flexibility, and facilitate its processing. They reduce the brittleness of the material and impart softness and plasticity. Bio-plasticizers, which are derived from natural and renewable sources such as soybean oil, castor oil, starch, and stearic acid, are typically used to make polymers more pliable and workable. The addition of bio-plasticizers can lower the melt viscosity, glass transition temperature, and elastic modulus of the polymer, thereby improving its characteristics for specific applications.
Bio plasticizers are used in a variety of industries, including automotive, construction, healthcare, and packaging. In the automotive industry, they are used to enhance the flexibility and durability of various plastic components, such as PVC-based interiors, wiring insulation, and gaskets. They also improve the performance of automotive materials, making them more resistant to temperature fluctuations and mechanical stress. The growing focus on lightweight materials and sustainability in the automotive industry complements the use of bio plasticizers.
The increasing sustainability concerns among plastic manufacturers and the rising demand for eco-friendly plastics across various end-user industries are driving the plasticizers industry. With growing global concerns over climate change, the focus on sustainability is intensifying. Plastics are used in a wide range of industries, including packaging, healthcare, building & construction, logistics, aviation, textiles, and others, leading to an increased demand for sustainable practices in the long run, considering the environmental and social impacts. Furthermore, sustainable practices in plastic manufacturing are expected to have a positive economic impact, promote resource efficiency, reduce waste and pollution, and create new opportunities for innovation and growth.
The packaging material segment dominated the market, accounting for the largest revenue share of 34.46% in 2023. This growth is attributed to the rising consumer preference for sustainable packaging and the increasing issues of landfill pollution globally, leading to a surge in the adoption of packaging products made from bio-plasticizers. Moreover, the strict prohibition on single-use plastics in several U.S. states like New York, California, and Hawaii, is significantly boosting the demand for bio-plasticizer-based plastics in the packaging sector. These bio-plasticizer-based plastics are extensively used in various packaging applications such as food & beverage packaging, personal care packaging, films & sheets, and household care products packaging.
The consumer goods segment also held a substantial revenue share in 2023. Major consumer goods manufacturers are transitioning from traditional plastics to biodegradable plastics to minimize their carbon footprint. Therefore, the manufacturers' growing preference for biodegradable plastics is expected to provide numerous growth opportunities for the global manufacturers of bio-plasticizer-based plastics.
The automotive & transport segment saw substantial growth in 2023. In the automotive industry, bio-plasticizer-based plastics are used in applications like under-the-hood components and interior parts. Bioplastics, due to their high bio-based content, are highly effective in reducing the carbon footprint. They provide impact resistance, UV resistance, high gloss, excellent color ability, and dimensional stability. The use of bio-plasticizers contributes to reducing the overall weight of a vehicle, thereby decreasing the overall transportation costs. All these factors are expected to boost the demand for bio-plasticizer-based plastics in the automotive industry in the future years.
Epoxidized soybean oil (ESBO) accounted for the largest market share of 36% in 2023. This growth is due to several factors such as environmental and health concerns, and regulatory requirements associated with traditional plasticizers. The demand for ESBO has been positively influenced by the increasing awareness of the environmental and health effects of conventional plasticizers. As a result, manufacturers are progressively shifting towards bio-based alternatives. ESBO, a plasticizer derived from soybean oil, is used to enhance the flexibility and durability of plastic materials, particularly those containing polyvinyl chloride (PVC), which are used in various industries such as construction, packaging, and consumer goods.
Castor Oil-Based Plasticizers held a significant market share in 2023, due to their unique chemical composition, which allows them to be used in a range of industrial processes, including the production of bio-based plasticizers. The demand for bio-plasticizers derived from castor oil has increased due to their sustainable sourcing, non-toxicity, biodegradability, and high performance.
In addition, Succinic Acid saw substantial growth in the market in 2023. Succinic acid, derived from various renewable sources, with corn and sugarcane being the most commonly used, is ideal for manufacturers focusing on environmental sustainability. Numerous countries have implemented regulations to limit the use of certain types of plasticizers, especially those derived from petroleum or containing harmful chemicals. This has resulted in an increased demand for alternative plasticizers, including those based on succinic acid.
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the U.S. bio plasticizers market
Type
Application
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Insights
2.2. Segment Outlook
2.3. Competitive Landscape Snapshot
Chapter 3. U.S. Bio-Plasticizers Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Market Penetration & Growth Prospects Mapping
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Raw Material Trends
3.4. Regulatory Framework
3.5. Market Dynamics
3.5.1. Market Driver Analysis
3.5.2. Market Restraint Analysis
3.5.3. Industry Challenges
3.5.4. Industry Opportunities
3.6. U.S. Bio-Plasticizers Market- Business Environment Analysis
3.6.1. Industry Analysis- Porter’s Five Force Analysis
3.6.1.1. Supplier Power
3.6.1.2. Buyer Power
3.6.1.3. Substitution Threat
3.6.1.4. Threat from New Entrant
3.6.1.5. Competitive Rivalry
3.6.2. PESTEL Analysis
3.6.2.1. Political Landscape
3.6.2.2. Economic Landscape
3.6.2.3. Social Landscape
3.6.2.4. Technological Landscape
3.6.2.5. Environmental Landscape
3.6.2.6. Legal Landscape
Chapter 4. U.S. Bio-Plasticizers Market: Type Estimates & Trend Analysis
4.1. Type Movement Analysis & Market Share, 2024 & 2033
4.2. U.S. Bio-Plasticizers Market Estimates & Forecast, By Type, 2021 to 2033 (Kilotons) (USD Million)
4.2.1. Epoxidized Soybean Oil (ESBO)
4.2.1.1. Market Estimates and Forecasts, 2021 - 2033 (Kilotons) (USD Million)
4.2.2. Castor Oil-Based Plasticizers
4.2.2.1. Market Estimates and Forecasts, 2021 - 2033 (Kilotons) (USD Million)
4.2.3. Citrates
4.2.3.1. Market Estimates and Forecasts, 2021 - 2033 (Kilotons) (USD Million)
4.2.4. Succinic Acid
4.2.4.1. Market Estimates and Forecasts, 2021 - 2033 (Kilotons) (USD Million)
4.2.5. Others
4.2.5.1. Market Estimates and Forecasts, 2021 - 2033 (Kilotons) (USD Million)
Chapter 5. U.S. Bio-Plasticizers Market: Application Estimates & Trend Analysis
5.1. Application Movement Analysis & Market Share, 2024 & 2033
5.2. U.S. Bio-Plasticizers Market Estimates & Forecast, By Application, 2021 to 2033 (Kilotons) (USD Million)
5.2.1. Packaging Materials
5.2.1.1. Market Estimates and Forecasts, 2021 - 2033 (Kilotons) (USD Million)
5.2.2. Consumer Goods
5.2.2.1. Market Estimates and Forecasts, 2021 - 2033 (Kilotons) (USD Million)
5.2.3. Automotive & transport
5.2.3.1. Market Estimates and Forecasts, 2021 - 2033 (Kilotons) (USD Million)
5.2.4. Building & construction
5.2.4.1. Market Estimates and Forecasts, 2021 - 2033 (Kilotons) (USD Million)
5.2.5. Textiles
5.2.5.1. Market Estimates and Forecasts, 2021 - 2033 (Kilotons) (USD Million)
5.2.6. Agriculture & horticulture
5.2.6.1. Market Estimates and Forecasts, 2021 - 2033 (Kilotons) (USD Million)
5.2.7. Others
5.2.7.1. Market Estimates and Forecasts, 2021 - 2033 (Kilotons) (USD Million)
Chapter 6. U.S. Bio-Plasticizers Market- Competitive Landscape
6.1. Recent Developments & Impact Analysis, By Key Market Participants
6.2. Company Categorization
6.3. Company Market Share/Position Analysis, 2024
6.4. Company Heat Map Analysis
6.5. Strategy Mapping
6.5.1. Expansion
6.5.2. Mergers & Acquisition
6.5.3. Partnerships & Collaborations
6.5.4. New Process Launches
6.5.5. Research And Development
6.6. Company Profiles (Business Overview, Financial Performance, Type Benchmarking)
6.6.1. Avient Corporation
6.6.1.1. Company Overview
6.6.1.2. Financial Performance
6.6.1.3. Type Benchmarking
6.6.2. Cargill, Incorporated
6.6.2.1. Company Overview
6.6.2.2. Financial Performance
6.6.2.3. Type Benchmarking
6.6.3. Dow, Inc.
6.6.3.1. Company Overview
6.6.3.2. Financial Performance
6.6.3.3. Type Benchmarking
6.6.4. ACS Technical Products
6.6.4.1. Company Overview
6.6.4.2. Financial Performance
6.6.4.3. Type Benchmarking
6.6.5. Emery Olechemicals
6.6.5.1. Company Overview
6.6.5.2. Financial Performance
6.6.5.3. Type Benchmarking
6.6.6. Valtris Specialty Chemicals
6.6.6.1. Company Overview
6.6.6.2. Financial Performance
6.6.6.3. Type Benchmarking
6.6.7. PolyOne Corporation
6.6.7.1. Company Overview
6.6.7.2. Financial Performance
6.6.7.3. Type Benchmarking
6.6.8. Vertellus LLC.
6.6.8.1. Company Overview
6.6.8.2. Financial Performance
6.6.8.3. Type Benchmarking
6.6.9. Mayriant Corporation
6.6.9.1. Company Overview
6.6.9.2. Financial Performance
6.6.9.3. Type Benchmarking