Spain Bio Plasticizers Market Size & Outlook, 2023-2030
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Spain bio plasticizers market highlights
- The Spain bio plasticizers market generated a revenue of USD 54.0 million in 2023 and is expected to reach USD 92.9 million by 2030.
- The Spain market is expected to grow at a CAGR of 8.1% 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 54.0 million |
| Market revenue in 2030 | USD 92.9 million |
| Growth rate | 8.1% (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, Spain accounted for 1.8% 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 Europe, Germany bio plasticizers market is projected to lead the regional market in terms of revenue in 2030.
- France is the fastest growing regional market in Europe and is projected to reach USD 223.3 million by 2030.
Epoxidized soybean oil (esbo) was the largest segment with a revenue share of 36.3% in 2023. Horizon Databook has segmented the Spain 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.
Rising awareness of sustainable packaging and increasing environmental concern regarding the usage of single-use plastic bags for packaging purposes are propelling the demand for bio-plasticizers in the country. In 2018, the Spanish government passed the Royal Decree to minimize the consumption of plastic bags. Such governmental measures are expected to boost the demand for bio-plasticizers 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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Spain bio plasticizers market size, by product, 2018-2030 (US$M)
Spain Bio Plasticizers Market Outlook Share, 2023 & 2030 (US$M)
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