Bio-Plasticizers Market: By Type (Epoxidized Soybean Oil (ESBO), Castor Oil, Citrates, Succinic Acid, Bio-Based Adipic Acid, Isosorbide Derivatives, Levulinic acid, Biomass Balanced (BMB) Plasticizers, Other Types), By Application (Wire and Cables, Film and Sheet, Flooring and Wall Covering, Medical Devices, Package Materials, Other Applications), and Geography  

Bio-Plasticizer Market size was valued at USD 2,670.5 million in 2023 and is to reach USD 3,823.2 million by 2030 and is projected to grow at a significant CAGR of 4.2% from (2024-2030).  Plasticized polyvinyl chloride (PVC) is widely used in building, pipes, wiring and cable, installation, flooring, nonfood packing, windows, doors, and other applications around the world. Phthalates have traditionally been the most widely used plasticizers in PVC, however, some of these plasticizers have been linked to numerous hazardous consequences on the environment and humans, limiting their use. The development of an alternative biobased plasticizer for PVC formulation has become important due to growing awareness of the impacts of plasticizers on the environment and the depletion of petroleum-based resources. Because natural resource-based plasticizers are more eco-friendly than phthalates, there has recently been a greater awareness of using them instead of phthalates in PVC manufacture.

Bio-Plasticizer Market Key Development:

• In Jan 2022, Evonik launched  ELATUR DINCD, a new plasticizer for durable products. ELATUR DINCD is particularly ideal for demanding exterior and interior applications such as textile fabrics, roofing membranes, floor coverings, adhesives, and sealants, as well as paints and coatings, due to its low viscosity. The addition of ELATUR DINCD to the portfolio is a perfect match for the existing and well-established product line. The company can now provide clients with an even broader selection of items from which to select the one that best meets their specific needs.  
• In Oct 2021, Cargill launched Biovero bio-based plasticizer. Biovero plasticizers are one of the company's contributions to a more sustainable commercial manufacturing supply chain, which provides new applications for renewable feedstocks while providing more environmentally conscious products to the market.

Industrial bio-plasticizers used in the Industry scale

Comparison of bio-plasticizers and their biomass sources

Based on type the market has been segmented into Epoxidized Soybean Oil (ESBO), Castor Oil, Citrates, Succinic Acid, Bio-Based Adipic Acid, Isosorbide Derivatives, Levulinic Acid, Biomass Balanced (BMB) Plasticizers, Fatty Acid Based, Rosin Acid, Cardanol, 5HMF Based Plasticizers, etc. Plant oils, cardanol, citric acid, sugar, curcumin, and succinate esters based plasticizers are currently receiving more attention in the creation of new bio-based plasticizers. Bio-based plasticizers are a viable alternative to phthalate plasticizers since they are environmentally safe and have low migration and toxicity.