Indonesia Bio Plasticizers Market Size & Outlook
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Indonesia bio plasticizers market highlights
- The Indonesia bio plasticizers market generated a revenue of USD 28.6 million in 2023 and is expected to reach USD 55.7 million by 2030.
- The Indonesia market is expected to grow at a CAGR of 10% 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 28.6 million |
| Market revenue in 2030 | USD 55.7 million |
| Growth rate | 10% (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, Indonesia accounted for 0.9% 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 37.06% in 2023. Horizon Databook has segmented the Indonesia 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.
Indonesia comprises the world's most significant biodiversities and natural resources. However, the country is grappling with environmental issues such as plastic waste pollution. Bio-plasticizers offer a more sustainable alternative to conventional plasticizers and can help reduce plastic waste pollution.
Furthermore, the Indonesian government has actively launched several initiatives to support the growth of the bio-plasticizer market. For instance, the government has set targets to reduce plastic waste and has banned the use of single-use plastics in several parts of the country.
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Bio Plasticizers Market Scope
Bio Plasticizers Market Companies
| Name | Profile | # Employees | HQ | Website |
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Indonesia bio plasticizers market size, by product, 2018-2030 (US$M)
Indonesia Bio Plasticizers Market Outlook Share, 2023 & 2030 (US$M)
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