Canada Bio Plasticizers Market Size & Outlook, 2023-2030
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Canada bio plasticizers market highlights
- The Canada bio plasticizers market generated a revenue of USD 379.1 million in 2023 and is expected to reach USD 688.3 million by 2030.
- The Canada market is expected to grow at a CAGR of 8.9% from 2024 to 2030.
- In terms of segment, epoxidized soybean oil (esbo) was the largest revenue generating product in 2023.
- Castor oil-based plasticizers is the most lucrative product segment registering the fastest growth during the forecast period.
Bio plasticizers market data book summary
| Market revenue in 2023 | USD 379.1 million |
| Market revenue in 2030 | USD 688.3 million |
| Growth rate | 8.9% (CAGR from 2023 to 2030) |
| Largest segment | Epoxidized soybean oil (esbo) |
| Fastest growing segment | Castor oil-based plasticizers |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Epoxidized soybean oil (ESBO), Castor oil-based plasticizers, Citrates, Succinic Acid, Other Products |
| Key market players worldwide | Avient Corp, Basf SE, Cargill, DIC Corp, Dow Inc, Evonik Industries AG, Lanxess AG, Solvay SA, PTT Global Chemical PCL ADR, Jungbunzlauer Suisse |
Other key industry trends
- In terms of revenue, Canada accounted for 12.4% of the global bio plasticizers market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. bio plasticizers market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 688.3 million by 2030.
Epoxidized soybean oil (esbo) was the largest segment with a revenue share of 35.8% in 2023. Horizon Databook has segmented the Canada bio plasticizers market based on epoxidized soybean oil (esbo), castor oil-based plasticizers, citrates, succinic acid, other products covering the revenue growth of each sub-segment from 2018 to 2030.
Canada significantly contributes to the demand for bio-plasticizers in the North American market owing to its supportive government laws. The growth in consumer goods sector in the country is further expected to boost Canada bio-plasticizers market.
Textile sector in Canada is expected to grow owing to increased opportunities, such as smart fabrics and textiles that assimilate digital monitoring components, in various applications such as athletic and health performance, which is further anticipated to create significant demand for bio-plasticizers.
The technical textile industry also offers opportunities to bio-plasticizers based plastics across industries such as medical, automotive, protective, and agriculture textiles.
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Bio Plasticizers Market Scope
Bio Plasticizers Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada bio plasticizers market size, by product, 2018-2030 (US$M)
Canada Bio Plasticizers Market Outlook Share, 2023 & 2030 (US$M)
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