Solvay SA, BASF SE, Emery Oleochemicals LLC, Evonik Industries, Dow Chemical Company, lanxess AG, Polyone Corporation, BioAmber Inc., and Danisco Inc., Oxea inc, Dow DuPont Inc., Eastman Chemical Company, Emery Oleochemicals, Myriant Corporation, Lanxess AG, Vertellus Specialties Inc., Matrica Spa
Bio Plasticizers Market – Market Overview
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. Governmnets across the globe are restrcting the use of phthalate based plasticizers, due to their hazardous health effects. For instance, FDA has set a regulatory frmawork on the phthalated and other major plasticizers ingredienst. Bio-Based Plasticizers which havs relatively low penetration in the market are antcipated to replace the phthalate based plasticizers. For instance, DEHP is highly regulated in ceratin market, and is being replaced eithre by non phthalates based plasticizers or Bio Based Plasticizers. This is the most prominent factor driving the Global Plasticizers Market across the globe.
Apart from this, prominent end usec industries of the Plasticizers Market which include, automotive, consumer goods, and electronic industry are driving the demand for bio plasticizers in most of the applications. Among the aforementioned end-use industries, penetration of the bio based plasticizers in consumer goods and floor & wall coverings is growing rapidly, due to the stringent regulations and consumer preferences in the market. Additionally, plastic products are the imprtant applicvation for plasticizers. Around 90% of the plasticizers aqre consumed in plastic application. Growing use of Poly Vinyl Chloride is positively driving the Bio Plasticizers Market across the globe.Also, increasing pentration in automotive industry along with growing automotie production is another factor fuelling overall plasticizers market growth.
Wire & cables is the leading application of plasticizers and account for nearly 40% of the overall market share. The application of Bio Plasticizers in wires & cables can effecteively reduce CO2 emission. Thus, Bio Based Plasticizers are gaining popularity as a suitable alternative for the phthalate plasticizers.
However, low availibility of raw materials, and complexity in the production processes are observed to be the major restraints in te overall market growth.
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Geographically, North America is the leading consumer of Bio-Plasticizers. This market share is attributed to the higher pentration in the region for health care sector. Asia paciic is estimated to be the fastestest growing market. The high growth of the market is attributed to the increasing automotive production, increasing construction activities in China.
Bio Plasticizers Market – Competitive Analysis
The major 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 klucrative opportunities for the leading manufactuerers.
Industry/ Innovation/ Related News
Sept 2017: Eastman Chemical Company enetered into non-exclusive agreement to liscence its proprietery manufacturingv technology for the production of plasticizers from the renewable sources. Company through this development strengthen its presence in the global plasticizers market. This market devlopment stimulated the followers in the market to focus on technology advancemnet for bio based plasticizers production.
Oct 2016: Green Biologic Ltd, through its subsidiary launched bio based plasticizers under brand name, “BioPureTM”. Company branded its products as a bio based, inorder to diffrentiate its products from petroleum based plasticizers. This highlights the increasing prominence of bio based products in global market.
Feb 2014: Oxea, a global manufacturer of oxo compounds and oxo derivatives launched series of bio based products under brand name “Oxblue”. Company, through development addressing the increasing demand of bio based plasticizers in consumer good, florring and decorative wall applications. The development underlies the higher demand of bio based products in consumer goods & flooring application due to stringent regulations.
March 2017: U.S. based Sylvin technologies developed plasticizers for PVC plastics from FDA approved bio based ingredients. The company is marketing its bio based plasticizers compound under brand name 39. The development by the company is a milestone for bio based plasticizers markets, as the products include ingredients approved by FDA.
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