Global Bioplastics Market

Global Bioplastics Market by Products (Biodegradable {Polylactic Acid, Starch blends, Polybutylene Adipate Terephthalate (PBAT), Polybutylene Succinate (PBS), and Others} and Non-biodegradable {Polyethylene, Polyethylene Terephthalate, Polyamide, Polytrimethylene Terephthalate, and Others}), by Applications (Packaging, Agriculture, Consumer goods, Textile, Automotive & Transportation, Building & Construction, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2022 – 2030

  • Report ID: MC-4626
  • Author: Growth Market Reports
  • Rating: 4.7
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  • No. Of Pages: 178
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The global bioplastics market was valued at USD 10.2 billion in 2021 and is estimated to reach USD 43.7 billion by 2030, expanding at a CAGR of 17.1% during the forecast period, between 2022 and 2030. Increasing awareness about health along with growing demand for products that are harmless to human health and high popularity of bioplastics as a sustainable product among people is boosting the bioplastics market. The bioplastics market in Asia Pacific is driven by high demand for bioplastics from the end-users in the region. Bio-based bags and bioplastics are proving to be a popular material for packaging in the US, thus boosting the bioplastics market in the US.


Global Bioplastics Market Summary

Introduction to Bioplastics:

Bioplastic is a type of plastic, which is made from substances that are biodegradable in nature. It is a polymer that can be manufactured into a commercial product from a natural source or a renewable resource. Bioplastics are made through a number of different processes. Some processes use a microorganism to process base materials, such as vegetable oils, cellulose, starches, acids and alcohols. The degrading property of bioplastics depends on its molecular structure rather than its source. The basic raw material required for manufacturing bioplastic is renewable, hence bioplastics earns an edge over conventional plastics made from petroleum products, as they are non-renewable. Bioplastic is more popular than conventional plastic, due to increasing cost of petroleum products.

Market Trends, Drivers, Restraints, and Opportunities:

  • Eco-friendly properties of bioplastics, legislative backing for developing degradable packaging materials, high consumer acceptance for bio-based products, and availability of renewable raw materials for the production of bioplastics are driving the bioplastics market.
  • Increasing demand for bioplastics in different sectors such as packaging, agriculture, construction, textile, and transportation is driving the market.
  • During the pandemic period, many governments and organizations postponed legislation on single-use plastics and green investments, which resulted in a decrease in the adoption of bio-based alternatives.
  • Increased cost of bioplastics in comparison to conventional plastics is expected to restrain the growth of the bioplastics market.
  • High investment in R&D of bioplastics is required to make it environmentally friendly, increase the quality of the product, simplify the synthesis process and maximize its usage. Increasing CSR activities of companies is projected to fuel the demand for bioplastics and promote the interest of investors in the bioplastic market.

Scope of the Report

The report on the global bioplastics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details       

Report Title

Bioplastics Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2021

Historic Data

2019-2020

Forecast Period

2022–2030

Segmentation

Products (Biodegradable {Polylactic Acid, Starch blends, Polybutylene Adipate Terephthalate (PBAT), Polybutylene Succinate (PBS), and Others} and Non-biodegradable {Polyethylene, Polyethylene Terephthalate, Polyamide, Polytrimethylene Terephthalate, and Others}), and Applications (Packaging, Agriculture, Consumer goods, Textile, Automotive & Transportation, Building & Construction, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

TEIJIN LIMITED, TORAY INDUSTRIES, INC., Toyota Tsusho Corporation, Avantium, PTT MCC Biochem Co., Ltd., An Phat Holdings, NatureWorks LLC, SABIC, BASF SE, Futerro, and Trinseo S.A., Braskem

Bioplastics Market Segment Insights:

Non-biodegradable plastics segment dominated the market in 2021

Based on products, the bioplastics market is segmented into biodegradable and non-biodegradable plastics. The non-biodegradable plastics segment constituted a major share of the market (47%) in 2021 and is anticipated to maintain its growth rate during the forecast period. These plastics are derived from raw materials that are sustainable in nature, such as sugarcane, corn, and castor oil. Rising demand for sustainable materials in the world boosts the use of such products. These plastics are an ideal alternative to petroleum-based products. In biodegradable plastics, starch blends proved to be a major product in terms of revenue in 2021.


Global Bioplastics Market Products

Packaging segment constituted the largest share of the market in 2021

On the basis of applications, the bioplastics market is segmented into packaging, agriculture, consumer goods, textile, automotive & transportation, building & construction, and others. More than 62% of revenue of the bioplastics market is generated by the packaging segment. Bioplastics are majorly used in packaging of food & beverages, personal care products, household products, and films & sheets. Inclination of people towards sustainable development and the problem of landfills are forcing manufacturers to move towards bioplastics. Bioplastics are widely used for making bottles, containers, and other food packaging. Polylactic acid, which is a biodegradable plastic, does not emit any radiation during burning, hence it can be widely used as petroleum-based alternative. Increasing adoption of bioplastics in agriculture sector is attributed to its environment-friendly nature.


Global Bioplastics Market Applications

Europe is leading the market with a major share of revenue

In terms of regions, the bioplastics market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The global bioplastics market was led by Europe in 2021 with a share of more than 43% in terms of revenue. Bioplastics are used to make bags on a large scale in European Union, which makes it a major market for bioplastics. In Europe, more than 100 billion bags are used every year. High use of sustainable materials in Europe drives the bioplastics market in the region. Increasing acceptance of bioplastics by end-users and consumers boosted its manufacturing. North America is anticipated to be a major market, as the governments in the region are promoting the use of sustainable products.


Global Bioplastics Market Regions

Segments

The global bioplastics market has been segmented on the basis of
By Products                

  • Biodegradable
    • Polylactic Acid
    • Starch Blends
    • Polybutylene Adipate Terephthalate (PBAT)
    • Polybutylene Succinate (PBS)
    • Others
  • Non-biodegradable
    • Polyethylene
    • Polyethylene Terephthalate
    • Polyamide
    • Polytrimethylene Terephthalate
    • Others

By Applications

  • Packaging
  • Agriculture
  • Consumer goods
  • Textile
  • Automotive & Transportation
  • Building & Construction
  • Others

By Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

By Key Players

  • TEIJIN LIMITED
  • TORAY INDUSTRIES, INC.
  • Toyota Tsusho Corporation
  • Avantium
  • PTT MCC Biochem Co., Ltd.
  • An Phat Holdings
  • NatureWorks LLC
  • SABIC
  • BASF SE
  • Futerro
  • Trinseo S.A.
  • Braskem

Competitive Landscape

Key market players focus on developing the quality of the product by using high-grade raw materials and wide distribution of products. They are investing majorly in R&D for high understanding of the product as well as the market.

Global Bioplastics Market Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Bioplastics 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. Bioplastics Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Bioplastics Market - Supply Chain
  4.5. Global Bioplastics Market Forecast
     4.5.1. Bioplastics Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Bioplastics Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Bioplastics Market Absolute $ Opportunity
5. Global Bioplastics Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Bioplastics Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Bioplastics Demand Share Forecast, 2019-2026
6. North America Bioplastics Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Bioplastics Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Bioplastics Demand Share Forecast, 2019-2026
7. Latin America Bioplastics Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Bioplastics Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Bioplastics Demand Share Forecast, 2019-2026
8. Europe Bioplastics 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
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Bioplastics Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Bioplastics Demand Share Forecast, 2019-2026
9. Asia Pacific Bioplastics 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. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Bioplastics Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Bioplastics Demand Share Forecast, 2019-2026
10. Middle East & Africa Bioplastics 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. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Bioplastics Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Bioplastics Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Bioplastics Market: Market Share Analysis
  11.2. Bioplastics Distributors and Customers
  11.3. Bioplastics Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. TEIJIN LIMITED
     11.4.2. TORAY INDUSTRIES, INC.
     11.4.3. Toyota Tsusho Corporation
     11.4.4. Avantium
     11.4.5. PTT MCC Biochem Co., Ltd.
     11.4.6. An Phat Holdings
     11.4.7. NatureWorks LLC
     11.4.8. SA

The global bioplastics market has been segmented on the basis of
By Products                

  • Biodegradable
    • Polylactic Acid
    • Starch Blends
    • Polybutylene Adipate Terephthalate (PBAT)
    • Polybutylene Succinate (PBS)
    • Others
  • Non-biodegradable
    • Polyethylene
    • Polyethylene Terephthalate
    • Polyamide
    • Polytrimethylene Terephthalate
    • Others

By Applications

  • Packaging
  • Agriculture
  • Consumer goods
  • Textile
  • Automotive & Transportation
  • Building & Construction
  • Others

By Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

By Key Players

  • TEIJIN LIMITED
  • TORAY INDUSTRIES, INC.
  • Toyota Tsusho Corporation
  • Avantium
  • PTT MCC Biochem Co., Ltd.
  • An Phat Holdings
  • NatureWorks LLC
  • SABIC
  • BASF SE
  • Futerro
  • Trinseo S.A.
  • Braskem

Key market players focus on developing the quality of the product by using high-grade raw materials and wide distribution of products. They are investing majorly in R&D for high understanding of the product as well as the market.

Global Bioplastics Market Key Players

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