Bioplastic & Biopolymers Market Size is anticipated to reach at a CAGR of 22.8% during the forecast period

 

By 2030, the bioplastics and biopolymers market is projected to grow from USD 10,810 million in 2021 to USD 69,090 million, at a CAGR of 22.8%. The market is being supported by the rising demand for bio-based plastics and polymers that are environmentally beneficial by complying with governmental standards.

Bioplastics are plastic products manufactured from naturally occurring resources including starch, sugar, and straw. Moreover, biopolymers are organic polymers created by the cells of living things. Bioplastics and organic polymers like silk, chitin, and wool are all included in the large category of substances known as biopolymers. Industries like textiles, building & construction, packaging, and automotive use biopolymers and bioplastics. Several plastic compounds are being utilised more frequently, which has increased emissions and worsened the environment.

                                                        

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This increased demand for bio-based materials, which can be functional in a variety of end-user markets and are also beneficial to the environment. The end-use industries are becoming more receptive to the usage of bio-based plastics and polymers. For instance, the demand for lightweight materials in the production of car components has made the automobile industry one of the major consumers of bio-based plastics and polymers. Together, these elements are fueling the market for bioplastics and biopolymers worldwide.

Growth Drivers:

The market for bioplastics and biopolymers is expanding due to rising knowledge about stainable plastic alternatives and inescapable efforts to stop using traditional plastics that cannot decompose. Compared to traditional plastics, which take around 1,000 years to separate, biodegradable plastics separate 60% or more in as little as 180 days. Growing landfills and trash piles have become significant ecological dangers and have a variety of negative effects on the biological system.

The range of uses for bio-plastics and bio-polymers is expanding. Throughout the forecast period, the demand for bioplastics and biopolymers is anticipated to increase due to the uses of these materials in the healthcare, packaging, consumer goods, and automotive industries. The launch of innovative bioplastics and biopolymer-based products by key industry players is another factor that is projected to increase the growth of the bioplastics and biopolymers market over the forecast period.

 

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Bioplastic & Biopolymers Segmentation:

By Product Type:

·        Biodegradable

·         PHA

·         PBS

·         PLA

·         PBAT

·         Starch based

·         Cellulose Films

·         Other Biodegradables

·        Non-Biodegradable

·         Bio-PET

·         Bio-PA

·         Bio-PE

·         Bio-PP

·         PTT

·         PEF

·         Other Non-Biodegradables

By Raw Materials:

·        Potato

·        Corn Starch

·        Wheat

·        Sugar cane/Sugar beet

·        Cassava

·        Switch grass

·        Others

By End Use Industry:

·        Textiles

·        Automotive & Transport

·        Electronics & Electrical

·        Building & Construction

·        Agriculture & Horticulture

·        Coating & Adhesives

·        Packaging

By Region:

·        North America

·        Europe

·        Asia Pacific

·        Latin America

·        Middle East and Africa

 

Key Companies in Bioplastic & Biopolymers Market:

The research report offers a competitive analysis of prominent companies operating in the bioplastic & biopolymers market. Some of the leading players profiled in the market research report include:

·        NatureWorks LLC

·        BASF SE

·        TotalEnergies Cobion

·        Novamount S.P.A

·        Braskem

·        Biome Bioplastics Limited

·        Mitsubishi Chemical Group Corporation

·        Biotec Biologistics Naturverpackungen GmbH & Co.

·        Plantic Technologies Limited

·        Toray industries, Inc.

·        Other Players

 

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xResearch is a market research and consulting organization that uses unique data, expert analysis, and new technologies to create trusted intelligence on industries. Our research is focused on delivering an informed and impartial view on essential market data of industry, and it is primarily driven by an in-depth study covering the following parameters: Market Sizing and Forecasting, Market Segmentation, Competitive Analysis, Strategic Assessment and Business Modelling.                   

 

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