According to Stratistics MRC, the Global Bio Plasticizers Packaging Market is accounted at $0.5 billion in 2015 and is expected to reach $1.5 billion by 2022 growing at a CAGR of 16.9%. Stringent regulations, technological advancements and increasing demand for Polyvinyl chloride are the key factors fueling the market growth. Higher Cost is the major factor hindering the market. The opportunity lies in growing demand in APAC countries and helps in reducing carbon footprint. Depending upon its various types, the consumption trend of bio plasticizers differ in various regions. Epoxidized Soybean Oil (ESBO) is one of the most chosen additives in Polyvinyl Chloride (PVC) gasket used mostly in food packaging.
North America is the leading market for bio plasticizer. Owing to the growing domestic demand and stringent regulations, North America accounted for a share of more than 30% of the worldwide bio plasticizer market. Asia-Pacific is one of the fastest growing markets for bio plasticizer in wires & cables, medical and packaging material applications.
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Some of the Key players in the market include Biopac, Georgia-Pacific LLC, Clearwater Paper Corporation, Mondi Group, BASF SE, Novamont S.P.A, Rocktenn, International Paper and Natureworks LLC.
Epoxidized Soybean Oil (ESBO)
Wires & cables
Building & construction
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