TAGS: Sustainability / Natural Solutions PVC, Plasticizers and Sustainability
Bio plasticizers are bio-based plasticizers which act as an additive to determine the physical properties of polymers and materials. The biodegradability and compostability of bio plasticizers depend on the chemical structure rather than the feedstock source.
Bio plasticizers have gained popularity in the manufacturing evolution due to their unique properties that allow for less material needed to meet performance goals, better heat stability, less stabilizers, faster fusion and many other key performance indicators.
Demand Driven by PVC Application Market
Report estimates the Global Bio
Plasticizer market to grow at a high CAGR Of 7.2% during the forecast period 2023- 2030. The market is expected to grow due to increasing demand from Pharmaceutical, Packaging, Consumer Goods, Automotive & Transport, Building & Construction. The competitive rivalry intensifies with
Evonik,
Lanxess AG.,
Solvay S.A., and others operating in the market.
Bio-based plasticizers are growing in manufacturing evolution due to their unique properties that allow for less material needed to meet performance goals, less stabilizers, faster fusion, better heat stability and many other key performance indicators. They are also proving to not only meet but exceed more conventional (petro-based) processes by delivering strong results when measured against proven industry standards.
Given all these benefits and the overall environmental improvement, bio-based plasticizers are revolutionizing the production of a wide range of daily items, including flooring, apparel, wires, cables, sporting goods, toys, construction materials and more.
The robust, flexible
PVC applications used primarily in the wire and cable, automotive and construction industries account for more than 85% of all European plasticizers. Several plasticizers are employed in non-
PVC applications, such as paints, rubber goods, adhesives, and sealants.
Plasticizers are among the chemical chemicals that have received the most rigorous testing for potential health and environmental impacts due to their widespread use. The world's most specific product safety regulation, REACH, makes it possible for plasticizers to be used safely in Europe.
Global Players Adopting Several Growth Strategies
The market for plasticizers has shown unprecedented growth in the past few years; however, associated side effects and stringent regulations led to the demand for bio plasticizers. Although bio plasticizers have a wide range of advantages, the product share is much less in the
plasticizer industry. The high cost of bio plasticizers is the prime factor for the growth of the traditional
plasticizer industry, creating huge challenges for the growth of the other compound.
Various key players in countries like India and China have shifted towards bio-based plasticizers. However, the majority of the products they produce are still petro based. Less investment with no R&D support has helped plasticizers dominate the market in the forecast period.
Various major players are investing in the business, such as the global AG and manufacturing companies like
Cargill, which are getting into the industry and recently launched
Biovero®, its first bio-based
plasticizer, in 2021. The final output of a full-scale, end-to-end manufacturing capability, Biovero
®, better serves its industrial customers by providing them with natural substitutes for conventional petroleum-based additives.
Furthermore, in 2021,
Perstorp, pioneering in the
PVC market, launched
Emoltene 100 Pro. The product is a durable DPHP
plasticizer based on renewable material. The product is a dipropylheptyl phthalate (DPHP) which is specially designed to support sustainable sourcing of renewable and recycled raw materials and reduce carbon dioxide emission throughout the value chain.
Global bio
plasticizer companies are adopting several growth strategies, such as product launches, acquisitions, and collaborations, contributing to the global growth of the bio
plasticizer market.
Source: DataM Intelligence