Eco-Friendly Plasticizers Market worth $7.55 billion by 2030 - Exclusive Report by MarketsandMarkets™

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Packaging sector is projected to be the fastest-growing application in the eco-friendly plasticizers market.

The packaging sector is expected to be the highest growth application for green plasticizers. This will be due to the growing demand for eco-friendly materials in food and consumer goods packaging. Increased global awareness of environmental factors is driving manufacturers to seek alternatives to traditional plasticizers as these are mostly derived from petrochemicals. Eco-friendly plasticizers, including bio-based ones, present important advantages, such as lower toxicity and better biodegradability, which go in line with consumer preferences for green products. More generally, with severe regulations imposed on plastic waste and recyclability, the market is likely to take a significant leap to sustainable packaging solutions. The growth in the uptake of eco-friendly plasticizers in the plastic industry is therefore likely to reflect this trend more generally within the economy.

Non-phthalate plasticizers have the second highest market share in the eco-friendly plasticizer market.

As growing consumer awareness and legislations regarding health and environmental safety push forward. More critical to the trend is the swell in demand for safer alternatives to conventional phthalate-based plasticizers, many of which have been named in various health risks, among which are endocrine disruption issues. Non-phthalate plasticizers find wider application in food packings, medical device, and consumer goods due to its enhanced safety profile and biodegradability. Moreover, increased usage of bio-based plasticizers derived from renewable sources like vegetable oils is expected as a complementary trend, providing another friendly environment option for manufacturers. Growing trends of focusing on sustainability and great robust compliance to very stringent regulatory requirements, this is a factor that will shoot up the demand for non-phthalate plasticizers in the industry thereby driving innovation and market expansion.

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Europe to be the third largest market during the forecast period.

The European region has particularly recorded a steady growth in the demand for eco-friendly plasticizers because of new environmental policies, increasing consumer conscientiousness and general global concern on sustainability issues. These European Regulations such as REACH and bans on usage of phthalate-based plasticizers in each of the applications have made it easier to shift towards non-toxic and biodegradable alternatives. Such plasticizers, based on renewable resources such as vegetable oils and citrates, can be absolutely complied with Europe's high-level climate objectives and the green economy program. These markets include packaging and building and construction markets. Cable, flooring and wall covering flexible PVC products contain bio-based plasticizers owing to its standards of substituting non-degradable and hazardous substances. Furthermore, increasing consciousness of the possible negative effects that conventional phthalates including their effect on hormone receptors has seen organizations in medical appliances, food packaging, and toys shift to the eco-friendly ones.

Key players

The eco-friendly plasticizers market report comprises key manufacturers such as BASF (Germany), Eastman Chemical Company (US), Evonik Industries AG (Germany), Lanxess (Germany), Dow Chemical Company (US), DIC Corporation (Japan), Cargill, Incorporated. (US), Arkema Group (France), LG Chem (South Korea), Valtris Specialty Chemicals (US) among others.

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