Bioplastic Composites Market Size, Share, Growth | Forecast 2031
Bioplastic Composites Market Size, Share, Growth | Forecast 2031
Segments - Bioplastic Composites Market by Types (Natural Polymers and Synthetic Polymers), Fiber Types (Wood Fiber Composites and Non-wood Fiber Composites), Applications (Transportation, Electrical & Electronics, Building & Construction, Aerospace & Defense, Consumer Goods, and Others), and Regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa)- Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031.
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| Report ID :MC-548
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Report Description
Bioplastic Composites Market Outlook 2031
The global bioplastic composites market size was valued at USD 33.33 Billion in 2022 and is projected to reach USD 81.86 Billion by 2031, expanding at a CAGR of 10.5% during the forecast period 2023 - 2031. The growth of the market is attributed to the increasing demand for packaging in various industry verticals.
Bioplastic composites are materials that are derived from renewable feedstock such as corn, sugarcane, and cellulose. These composites are sustainable materials that possess the potential to reduce significant amount of carbon dioxide emissions.
Bioplastics are utilized in several industries, including packaging, flexible packaging, textiles, consumer goods, agriculture, construction, electrical, and electronics. Governments across the globe are adopting favourable regulations and policies to promote sustainability and biodegradability of bioplastics composites.
The eco-friendly nature of the bioplastic composites and abundant availability of renewable raw material sources are driving the growth of the market. Rising consumer awareness about the use of bioplastic composites is expected to spur the demand for eco-friendly products. Government state bodies in Asia-Pacific have imposed various policies that encourages the use of bioplastic composites, which fuel the growth of the bioplastic composites market.
Bioplastic Composites Market Trends, Drivers, Restraints, and Opportunities
- High consumer acceptance of bioplastic composites and stringent government policies that favor the use of bioplastics composites are encouraging various industries to use bioplastic composites, fuelling the bioplastic composites market growth.
- Increasing corporate social responsibility(CSR), declining dependency on petroleum resources for the production of polymers, and rising R&D activities to develop advanced bioplastic composites are anticipated to provide lucrative opportunities for the bioplastic composites market growth.
- Easy availability of raw materials has reduced the prices of the same, boosting the growth of the market
- High cost and limited benefits of bioplastic composites as compared to synthetics composites can serve as major hindrance to the bioplastic composites market.
Scope of Bioplastic Composites Market Report
The report on the global bioplastic composites market research report includes an assessment of the market, trends, segments, and regional markets.
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Attributes |
Details |
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Report Title |
Bioplastic Composites Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Types (Natural Polymers and Synthetic Polymers), Fiber Types (Wood Fiber Composites and Non-wood Fiber Composites), Applications (Transportation, Electrical & Electronics, Building & Construction, Aerospace & Defense, Consumer Goods, and Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Arkema, Mitsubishi Plastics, Huntsman Corporation, BASF, Toray Industries, Natureworks, Corbion, DowDupont, Solvay, and Braskem |
Global Smart Bioplastic Composite Market Segment Insights
Natural Polymers to hold a large market share
In terms of types, the bioplastic composites market share is bifurcated into natural polymers and synthetic polymers. The natural polymers segment is anticipated to account for a large market share in the bioplastic composites market. Natural polymers improve various properties of bioplastics, including stiffness and thermal behavior. They reduce the price of the bioplastics and enhances recyclability properties of the bioplastic composites. Thus, such characteristics of natural polymers are driving the segment growth.
Wood fibre to account a significant market share
Based on fiber types, the bioplastic composites market share is divided into wood fiber composites and non-wood fiber composites. The wood fiber segment to account for a significant market share in the bioplastic composites market. High strength & stiffness of the wood fiber composites are driving the segment growth.
Growing demand for wood fibers as a replacement of fossil fuel-based synthetic materials and cotton owing to low consumption of water and agrochemicals in the production process is spurring the wood fiber segment.
Transportation segment to play a key role in the market
On the basis of applications, the bioplastic composites market is classified as transportation, electrical & electronics, building & construction, aerospace & defense, consumer goods, and others.
The transportation segment to hold a key share in the bioplastic composites market. Increasing demand for bioplastic composites for manufacturing of automotive parts is spurring the segment growth. The automotive parts such as fuel pipes and under the hood parts are made up of bio-based polymers such as polyamides.
Polycarbonates and bioplastic composites are usually used for producing automotive parts, with help of wood, flax and hemp. Therefore, the growing adoption of bioplastic composites in the transportation sector is driving the bioplastic composites market.
North America to hold a major market share
Based on regions, the bioplastic composites market share is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to hold a largest share in the bio plastic composites market during the forecast period. Stringent regulations and policies adoption by state government bodies and rising consumption of polylactic acid (PLA) and bio-based commodities are driving the regional market growth.
The Unites States Department of Agriculture (USDA) is providing certification to various bio-based product label. This initiative to certify products increases adoption of bio-based products.
In December, 2015 the United States Food and Drug Administration (FDA) amended the Federal Food, Drug and Cosmetic Act (FD&C Act) by implementing Microbead-Free Waters Act, which curtails the manufacturing, packaging, and distribution of rinse-off cosmetics containing plastic micro beads. Thus, such initiatives are boosting the growth of the market in the region.
Segments
The global smart refrigerator market has been segmented on the basis of
Types
- Natural polymers
- Synthetic polymers
Fiber Types
- Wood fibre Composites
- Non-wood fiber Composites
Applications
- Transportation
- Electrical & Electronics
- Building & Construction
- Aerospace & Construction
- Consumer Goods
Regions
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Online
Key Players
Competitive Landscape
The key players operating in the market include Arkema, Mitsubishi Plastics, Huntsman Corporation, BASF, Toray Industries, Natureworks, Corbion, DowDupont, Solvay, and Braskem.
Companies are focusing on expanding their product portfolio to cater to the demand across various industries.
Frequently Asked Questions
Bioplastic Composites Market is growing at a CAGR of 10.5% in forecast period.
The global Bioplastic Composites Market size was valued at USD 33.33 billion in 2022.
The Bioplastic Composites Market is studied from 2023 - 2031.
The natural polymers segment is anticipated to account for a large market share in the bioplastic composites market.
The key players operating in the market include Arkema, Mitsubishi Plastics, Huntsman Corporation, BASF, Toray Industries, Natureworks, Corbion, DowDupont, Solvay, and Braskem.
North America is expected to hold a largest share in the bio plastic composites market during the forecast period.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Bioplastic Composites Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Bioplastic Composites Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Bioplastic Composites Market - Supply Chain
4.5. Global Bioplastic Composites Market Forecast
4.5.1. Bioplastic Composites Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Bioplastic Composites Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Bioplastic Composites Market Absolute $ Opportunity
5. Global Bioplastic Composites Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Bioplastic Composites Market Size and Volume Forecast by Types
5.3.1. Natural polymers
5.3.2. Synthetic polymers
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Bioplastic Composites Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. Bioplastic Composites Market Size and Volume Forecast by Applications
6.3.1. Transportation
6.3.2. Electrical & Electronics
6.3.3. Building & Construction
6.3.4. Aerospace & Construction
6.3.5. Consumer Goods
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Bioplastic Composites Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Bioplastic Composites Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Bioplastic Composites Demand Share Forecast, 2019-2026
8. North America Bioplastic Composites Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Bioplastic Composites Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Bioplastic Composites Market Size and Volume Forecast by Types
8.4.1. Natural polymers
8.4.2. Synthetic polymers
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America Bioplastic Composites Market Size and Volume Forecast by Applications
8.7.1. Transportation
8.7.2. Electrical & Electronics
8.7.3. Building & Construction
8.7.4. Aerospace & Construction
8.7.5. Consumer Goods
8.8. Basis Point Share (BPS) Analysis by Applications
8.9. Y-o-Y Growth Projections by Applications
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Bioplastic Composites Demand Share Forecast, 2019-2026
9. Latin America Bioplastic Composites Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Bioplastic Composites Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Bioplastic Composites Market Size and Volume Forecast by Types
9.4.1. Natural polymers
9.4.2. Synthetic polymers
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America Bioplastic Composites Market Size and Volume Forecast by Applications
9.7.1. Transportation
9.7.2. Electrical & Electronics
9.7.3. Building & Construction
9.7.4. Aerospace & Construction
9.7.5. Consumer Goods
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Bioplastic Composites Demand Share Forecast, 2019-2026
10. Europe Bioplastic Composites Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Bioplastic Composites Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Bioplastic Composites Market Size and Volume Forecast by Types
10.4.1. Natural polymers
10.4.2. Synthetic polymers
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe Bioplastic Composites Market Size and Volume Forecast by Applications
10.7.1. Transportation
10.7.2. Electrical & Electronics
10.7.3. Building & Construction
10.7.4. Aerospace & Construction
10.7.5. Consumer Goods
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Bioplastic Composites Demand Share Forecast, 2019-2026
11. Asia Pacific Bioplastic Composites Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Bioplastic Composites Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Bioplastic Composites Market Size and Volume Forecast by Types
11.4.1. Natural polymers
11.4.2. Synthetic polymers
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific Bioplastic Composites Market Size and Volume Forecast by Applications
11.7.1. Transportation
11.7.2. Electrical & Electronics
11.7.3. Building & Construction
11.7.4. Aerospace & Construction
11.7.5. Consumer Goods
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Bioplastic Composites Demand Share Forecast, 2019-2026
12. Middle East & Africa Bioplastic Composites Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Bioplastic Composites Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Bioplastic Composites Market Size and Volume Forecast by Types
12.4.1. Natural polymers
12.4.2. Synthetic polymers
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa Bioplastic Composites Market Size and Volume Forecast by Applications
12.7.1. Transportation
12.7.2. Electrical & Electronics
12.7.3. Building & Construction
12.7.4. Aerospace & Construction
12.7.5. Consumer Goods
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Bioplastic Composites Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Bioplastic Composites Market: Market Share Analysis
13.2. Bioplastic Composites Distributors and Customers
13.3. Bioplastic Composites Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. Arkema
13.4.2. Mitsubishi Plastics
13.4.3. Huntsman
13.4.4. BASF
13.4.5. Toray Industries
13.4.6. Natureworks
13.4.7. Corbion
13.4.8. DowDupont
13.4.9. Solvay
13.4.10. Braskem
Methodology
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