Global Bioplasticizers Market: Overview
Bioplasticizers are biologically derived substances added to polymers to make them more pliable and workable. Plasticizers are essential to modify a polymer’s characteristics to suit the particular application in which it is going to be used. The rising awareness about the adverse effects of using conventional plasticizers has led several key consumers of polymers to switch to bioplasticizers, leading to a steady surge in the global bioplasticizers market. This is likely to be the key driver for the global bioplasticizers market in the coming years.
The report elaborates upon the workings of the global bioplasticizers market in detail by assessing it from the geographical, economic, and competitive perspective. The key factors aiding and hindering the development of the bioplasticizers market are discussed in detail in the report. Production and consumption figures for the key regional markets for bioplasticizers are also given in the report in order to provide readers with a comprehensive view of the market.
Global Bioplasticizers Market: Drivers and Restraints
The key driver for the global bioplasticizers market is the awareness about the health risks of conventionally used plasticizers, such as phthalates. Phthalates are readily soluble in organic solvents such as saliva, which makes them dangerous when used in objects that come in close proximity to infants. If ingested, they can hamper the development of infants considerably, while adults may also face adverse effects from overexposure to phthalates. The lack of such concerns is thus a key driver for the global bioplasticizers market, as polymers treated with bioplasticizers can be used in a wider range of applications, including food packaging and medical products.
Medical devices, packaging materials, and consumer goods comprise some of the leading application segments of the global bioplasticizers market. The steady research environment backing these three sectors means the bioplasticizers industry could enjoy a consistent rise in demand in the coming years.
The use of bioplasticizers in widely popular polymers such as PVC is likely to remain a crucial driver for the global bioplasticizers market in the coming years. Polymers like PVC are virtually unusable without the application of additives, but are used in a wide range of applications once prepared. The steady development of safer and more effective bioplasticizers has also boosted the market for polymers such as PVC, which has further driven research into polymer design.
Global Bioplasticizers Market: Geographical and Competitive Dynamics
Due to the sustained expansion and technological advancement of the medical devices and consumer goods industries, North America is the leading regional contributor to the global bioplasticizers market. The booming healthcare industry in North America is a key factor responsible for the sustained growth of the bioplasticizers market in North America, as this has raised the funding available to the polymer industry. North America and Europe are likely to remain the prime regional segments of the bioplasticizers market in the coming years.
Another factor driving the consumption of bioplasticizers in developed regions such as North America and Europe is the steady government support to environment-friendly initiatives, which includes replacing conventional plasticizers with bioplasticizers. Due to their organic composition, bioplasticizers are entirely biodegradable, which constitutes a significant advantage over conventional inorganic plasticizers.
However, the rising demand for consumer goods, medical materials, and wires and cables in developing regions such as Asia Pacific and the Middle East is also likely to remain a key driver for the global bioplasticizers market in the coming years. Emerging economies such as the UAE and Brazil could thus play a significant role in the trajectory of the global bioplasticizers market in the coming years.
The report also examines the competitive landscape of the global bioplasticizers market by profiling leading companies in the market such as Dow Chemical Company, Danisco Inc., Emery Oleochemicals LLC, Solvay S.A., Evonik Industries, Vertellus Specialties Inc., Bioamber Inc., and Myriant Corporation.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.