Bio Plasticizers Market to Garner $2.1 Billion, Globally, By 2030 at 5.31% CAGR, Says Allied Market Research
PORTLAND, Ore., May 26, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Bio Plasticizers Market by Type (Epoxides, Sebacates, Succinic Acid, Citrates, Glycerol Esters, Others), by Application (Flooring and Walls, Film and Sheet Coverings, Wires and Cables, Coated Fabrics, Consumer Goods, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030." According to the report, the global bio plasticizers industry was estimated at $1.3 billion in 2020, and is anticipated to hit $2.1 billion by 2030, registering a CAGR of 5.31% from 2021 to 2030.
- On the other hand, high cost of bio plasticizers is expected to hamper the growth to some extent.
- The outbreak of the pandemic has had a mixed impact on the global bio plasticizers market.
- By type, the epoxides segment accounted for the major share in 2020, holding nearly three-fifths of the global bio plasticizers market.
- By region, the market across Asia-Pacific had the lion's share in 2020, generating more than half of the global bio plasticizers market.