China Bio Plasticizers Market Size & Outlook, 2023-2030
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China bio plasticizers market highlights
- The China bio plasticizers market generated a revenue of USD 279.1 million in 2023 and is expected to reach USD 575.2 million by 2030.
- The China market is expected to grow at a CAGR of 10.9% 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 279.1 million |
| Market revenue in 2030 | USD 575.2 million |
| Growth rate | 10.9% (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, China accounted for 9.1% 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 Asia Pacific, China bio plasticizers market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 575.2 million by 2030.
Epoxidized soybean oil (esbo) was the largest segment with a revenue share of 35.01% in 2023. Horizon Databook has segmented the China 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.
China dominated Asia Pacific bio-plasticizers market, in terms of both revenue and volume, in 2020. The market in China is anticipated to witness significant growth over the forecast period owing to the rising demand for the product in applications including packaging, automotive & transport, agriculture, consumer goods, building & construction, and textiles.
China is one of the prominent consumers of non-alcoholic beverages across the globe, which, in turn, contributes to the demand for bio-plasticizers in packaging industry. The country is also one of the biggest consumers of packaged food products including fresh food, ready-to-eat food, and processed food, which further paves the way for the use of bio-plasticizers in packaging applications.
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Bio Plasticizers Market Scope
Bio Plasticizers Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| DIC Corp | View profile | 22255 | DIC Building, 7-20, Nihonbashi 3-chome, Chuo-ku, Tokyo, Japan, 103-8233 | http://www.dic-global.com/en/index.html |
| Jungbunzlauer Suisse | View profile | 1001-5000 | Basel, Basel-Stadt, Switzerland, Europe | http://www.jungbunzlauer.com/ |
| PTT Global Chemical PCL ADR | View profile | 6334 | Vibhavadi-Rangsit Road, 555/1, Energy Complex, Building A, 18th Floor, Chatuchak, Bangkok, Thailand, 10900 | https://www.pttgcgroup.com |
| Lanxess AG | View profile | 12621 | Kennedyplatz 1, Cologne, Germany, 50569 | https://www.lanxess.com |
| Solvay SA | View profile | 9000 | Rue De Ransbeek, 310, Brussels, Belgium, B-1120 | https://www.solvay.com |
| Cargill | View profile | 10001+ | Minneapolis, Minnesota, United States, North America | http://www.cargill.com |
| Avient Corp | View profile | 9300 | 33587 Walker Road, Avon Lake, OH, United States, 44012 | https://www.avient.com |
| Dow Inc | View profile | 35900 | 2211 H.H. Dow Way, Midland, MI, United States, 48674 | https://www.dow.com |
| Evonik Industries AG | View profile | 33409 | Rellinghauser Strasse 1-11, Essen, NW, Germany, 45128 | https://www.evonik.com |
| Basf SE | View profile | 111855 | Carl-Bosch-Strasse 38, Ludwigshafen am Rhein, Germany, 67056 | https://www.basf.com |
China bio plasticizers market size, by product, 2018-2030 (US$M)
China Bio Plasticizers Market Outlook Share, 2023 & 2030 (US$M)
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