Japan Bio Plasticizers Market Size & Outlook, 2023-2030
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Japan bio plasticizers market highlights
- The Japan bio plasticizers market generated a revenue of USD 103.3 million in 2023 and is expected to reach USD 154.2 million by 2030.
- The Japan market is expected to grow at a CAGR of 5.9% 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 103.3 million |
| Market revenue in 2030 | USD 154.2 million |
| Growth rate | 5.9% (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, Japan accounted for 3.4% 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 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 36.98% in 2023. Horizon Databook has segmented the Japan 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.
The bio-plasticizers market in Japan is majorly driven by the rising product demand in packaging and consumer goods applications. The growing concerns about plastic waste among the public and China’s rejection to import plastic trash from Japan are some of the major factors driving the bio-plasticizer market in the country.
According to health policy studies of the Organization for Economic Co-operation and Development (OECD), Japan has the highest life expectancy of 83.9 years among OECD countries. The rising prevalence of diseases among the aging population is fueling the demand for medical devices in the country. This is expected to drive the demand for bio-plasticizers in Japan over the forecast period.
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Bio Plasticizers Market Scope
Bio Plasticizers Market Companies
| Name | Profile | # Employees | HQ | Website |
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Japan bio plasticizers market size, by product, 2018-2030 (US$M)
Japan Bio Plasticizers Market Outlook Share, 2023 & 2030 (US$M)
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