Mexico Bio Plasticizers Market Size & Outlook, 2023-2030
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Mexico bio plasticizers market highlights
- The Mexico bio plasticizers market generated a revenue of USD 185.3 million in 2023 and is expected to reach USD 268.1 million by 2030.
- The Mexico market is expected to grow at a CAGR of 5.4% 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 185.3 million |
| Market revenue in 2030 | USD 268.1 million |
| Growth rate | 5.4% (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, Mexico accounted for 6.1% 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 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 35.94% in 2023. Horizon Databook has segmented the Mexico 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 Mexico is expected to witness substantial growth over the forecast period owing to the rising demand from key application sectors such as packaging and consumer goods. The growing adoption of bio-plasticizer products in food packaging and agriculture is expected to further propel the demand for bio-plasticizers in the country.
Furthermore, rising environmental concerns related to single-use plastics and the government’s initiatives to reduce global warming and greenhouse gas emissions are expected to provide lucrative opportunities for market growth in the coming years.
This ban is anticipated to create huge demand for environmentally friendly and sustainable materials like bio-plasticizers over the forecast period. In addition, the rising geriatric population in the country is anticipated to create significant demand for bio plasticizers in medical device applications in the coming years.
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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 |
Mexico bio plasticizers market size, by application, 2018-2030 (US$M)
Mexico Bio Plasticizers Market Outlook Share, 2023 & 2030 (US$M)
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