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Bioplastics Market Research Report 2024

Bioplastics Market Global Industry Analysis and Forecast (2024-2032) By Type (Biodegradable {Starch blends, Polylactic acid, Polybutylene Adipate Terephthalate, Polybutylene Succinate} & Non-Biodegradable {Bio- Polyethylene Terephthalate, Bio-Polyamide, Bio-Polyethylene, Bio-Polytrimethylene Terephthalate}), Application (Rigid Packaging {Bottles & Jars, Trays}, Flexible Packaging {Pouches, Shopping/Waste Bags}, Textiles, Automotive & Transportation) and Region

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Report ID: 279

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Bioplastics Market Synopsis

Bioplastics Market Size Was Valued at USD 7.48 Billion in 2023 and is Projected to Reach USD 74.51 Billion by 2032, Growing at a CAGR of 29.1% From 2024-2032.

Bioplastics, made from sources such as plant starch, cellulose, and natural sugars, offer a hopeful solution in combatting plastic waste. These resources, obtained from plentiful and renewable sources, provide a practical option to conventional plastics, mainly made from finite fossil fuels. Although not all bioplastics are naturally biodegradable, a number of them have the benefit of breaking down faster in the natural environment than traditional plastics. This trait is especially important for tackling environmental issues linked to plastic pollution, as bioplastics have the potential to decrease the longevity of plastic waste in ecosystems.

  • The increasing demand for bioplastics is driven by stricter regulations that aim to decrease the use of non-renewable plastics. Industries in packaging, textiles, electronics, automotive parts, and furniture sectors are turning to biodegradable alternatives due to regulatory pressures. Bioplastics provide ecological advantages and meet consumer demand for sustainable products. Businesses in these sectors are putting money into R&D to discover additional sources of bioplastics, such as seaweed and insects, which will broaden the possible uses of these materials.
  • Bioplastics can be easily adjusted to meet the specific needs of different industries, which have varying demands for strength, pliability, and ecological footprint. In the packaging industry, bioplastics can provide similar performance to standard plastics but also have the advantage of a smaller environmental impact. Likewise, bioplastics are becoming increasingly popular in the automotive manufacturing sector for their ability to cut weight and enhance fuel efficiency, in line with the sustainability trends of the industry. As research progresses in this area, bioplastics show potential to reduce plastic pollution and promote sustainable practices in worldwide supply chains.

Top Active Players:

Novamont S.p.A. (Italy), Arkema S.A. (France), Matrìca S.p.A. (Italy), NatureWorks LLC (U.S.), TotalEnergies Corbion (Netherlands), PTT MCC Biochem Co., Ltd. (Thailand), Roquette Frères (France), Biofase (Mexico), Genecis (Canada), Trifilon (Sweden), Solvay S.A. (Belgium), Avantium (Netherlands), Toray Industries, Inc. (Japan), LyondellBasell Industries Holdings B.V. (Netherlands), BASF SE (Germany), BioApply (Switzerland), Braskem (Brazil), Kaneka Takasago (Japan), Danimer Scientific (U.S.), Taghleef Industries (U.A.E.), Advance Bio Material P. Ltd. (India).

Bioplastics Market Trend Analysis

Growing Preference for Bio-plastics in Global Industries

  • The increasing trend towards sustainable practices worldwide has resulted in a rising demand for products made from renewable and natural materials, with bio-plastics marking a major step forward in this movement. Bio-plastics, unlike conventional plastics, are created to break down easily without causing harm to the environment, making them more and more preferred by industries and consumers. These substances maintain the key characteristics of traditional plastics, like strength and flexibility, and also provide the important advantage of being biodegradable. This function focuses on urgent environmental issues related to plastic waste, especially in industries that heavily use disposable items and packaging.
  • Businesses in various sectors, such as food packaging and consumer goods, are progressively turning to bio-plastics for their manufacturing requirements. Plastic bags, food packaging, single-use utensils, and packaging in general are being replaced with bio-plastics to reduce harm to the environment. This trend is not only in line with the sustainability objectives worldwide but also supports the expansion of the bio-based chemicals industry. Businesses are acknowledging the benefits of bio-plastics, driven by customers seeking eco-friendly options and their positive effects on the economy and environment. Driver: Bio-plastics as a Solution to Plastic Pollution Bio-plastics are expected to have a significant impact on reducing plastic pollution and promoting sustainability across global industries as regulatory pressures and consumer awareness increase.

Increasing Bioplastics in Automotive and Construction Industries

  • Bioplastics are quickly gaining popularity as feasible substitutes in various industries, thanks to improvements in their physical characteristics and cost efficiency. Their development foreshadows substantial potential, particularly in industries such as automotive and construction. In the automotive industry, bioplastics provide an attractive option for decreasing vehicle weight, which can improve fuel efficiency and reduce carbon emissions. Bioplastics are an appealing choice for manufacturers looking to meet strict environmental standards and consumer preferences for sustainability, driven by regulatory pressures in the industry.
  • Bioplastics are becoming more popular in the construction industry due to their promise as eco-friendly building materials. Their eco-friendly attributes make them more popular for a variety of uses, including insulation and structural parts, in line with the rising focus on environmentally friendly construction methods. This change doesn't just focus on environmental issues but also meets the need for long-lasting and effective building options. By venturing into these fresh markets, bioplastics are broadening their range of uses while increasing the number of potential customers.
  • This provides manufacturers and consumers with flexible options that promote environmental responsibility and efficient operations. Bioplastics' Growing Role in Sustainable Industries Advancements in research and development are improving the durability, versatility, and cost-effectiveness of bioplastics, leading to a significant increase in their impact on shifting industries towards sustainable practices.

Bioplastics Market Segment Analysis:

Bioplastics Market Segmented on the basis of type, and application.

By Type, Biodegradable segment is expected to dominate the market during the forecast period

  • The bioplastics market is experiencing strong growth, specifically driven by the biodegradable sector in industries including textiles, packaging, consumer goods, and agriculture & horticulture. The reason why this sector is so powerful is because there is a high need for eco-friendly solutions that are as effective as regular plastics and have environmental advantages. Businesses prefer biodegradable plastics due to their natural breakdown process, which helps minimize environmental effects and tackle worries regarding plastic pollution. The rise in environmental awareness among customers and strict regulations to reduce single-use plastics have driven the growth of biodegradable options. These factors together contribute to the growth of the biodegradable bioplastics market, establishing it as an important player in the transition towards sustainable materials.
  • Non-biodegradable plastics still have a strong presence in the market, especially in consumer goods, food packaging, and automotive industries. The reason for their wide acceptance is their exceptional strength, affordability in manufacturing, and ability to be used in various ways that guarantee the longer lifespan of products. Sectors like construction and manufacturing heavily depend on non-biodegradable plastics because of their natural ability to resist degradation, which helps ensure the long-term integrity and performance of products. There are increasing environmental worries, and the functional benefits provided by non-biodegradable plastics in different industrial uses are still driving their popularity. This sector is ready for significant expansion, fueled by continuous innovation and adjustment to cater to various industries.

By Application, Rigid Packaging segment held the largest share of 56.7% in 2023

  • It is anticipated that the rigid packaging sector will continue to be the primary driver in the upcoming period. Bio-based plastics are gaining popularity in rigid packaging applications as shipping companies are looking for sustainable and durable packaging options. Using bioplastics for rigid packaging protects from external factors, keeping the contents safe during transportation and storage. The need for sustainability in the market is driving innovation, encouraging manufacturers to use eco-friendly materials and designs to reduce environmental impact.
  • During the predicted time frame, the global market is anticipated to experience considerable growth opportunities due to the rising popularity of flexible packaging in sectors like food and pharmaceuticals. Flexible packaging in the food industry provides many benefits including longer shelf life, increased convenience, and better protection against moisture, oxygen, and light, which helps maintain the freshness and quality of products. In the pharmaceutical sector, flexible packaging offers advantages such as ensuring proper dosage, preventing tampering, and providing a protective barrier to maintain the effectiveness and integrity of medicines. Therefore, the growth in these sectors is driven by various factors such as the rising need for ready-to-eat foods, expanding pharmaceutical industries, improvements in packaging materials, and technological progress.
  • Automotive manufacturers' top priority is to decrease the fuel consumption and weight of the vehicle. Bio-based plastics are highly sought after by the automotive industry due to their suitability for this purpose. Characteristics like the ability to be strong without being heavy, lasting a long time, being resistant to rust, and generating heat on their own have driven the desire for these plastics in the automotive industry.

Bioplastics Market Regional Insights:

Europe is Expected to Dominate the Market Over the Forecast Period

  • The European Union has implemented strict regulations and laws to decrease the use of disposable plastics, encouraging a substantial transition to more eco-friendly practices. These regulations have placed stringent limitations on the use of single-use plastics, pushing both businesses and individuals to look for other options. At the same time, there has been a significant rise in funding throughout the EU for technologies that aid in the growth and manufacture of bioplastics. This proactive strategy is motivated not just by following regulations, but also by an increasing societal recognition of the harmful environmental effects of traditional plastics. European businesses are therefore forced to come up with new ideas and adjust, resulting in a growing trend in the bioplastics industry.
  • The people in Europe are becoming more aware of the detrimental effects of plastic pollution on the environment and human well-being. This realization has sparked global initiatives to reduce the creation and use of conventional plastics. Citizens are advocating for sustainable solutions actively and backing initiatives that promote eco-friendly alternatives. There is a change in culture as people are increasingly accepting bioplastics, which are seen as more environmentally friendly because they can naturally break down. Europe's crucial role in progressing towards a more sustainable future is highlighted by the combined awareness of society, strong legal structures, and businesses' dedication to sustainability. The area is not just at the forefront of regulatory norms but also acts as a rich environment for technological advancements and market expansion in the bioplastics sector.

Key Industry Developments in the Bioplastics Market:

  • In May 2023, TotalEnergies Corbion announced its partnership with the Changsu Industrial to advance the adoption of sustainable biobased BOPLA films. This partnership will strengthen TotalEnergies Corbion’s revenue generation from the biobased products.
  • In April 2023, Solvay declared its strategic collaboration with Ginkgo Bioworks to expand its R&I footprint in the U.S. The purpose of the collaboration is to develop new sustainable biopolymers and establish its presence in North America.

Global Bioplastics Market

Base Year:

2023

Forecast Period:

2024-2032

Historical Data:

2017 to 2023

Market Size in 2023:

USD 7.48 Bn.

Forecast Period 2024-32 CAGR:

29.1%

Market Size in 2030:

USD 74.51 Bn.

Segments Covered:

By Type

  • Biodegradable
  • Non-Biodegradable

By Application

  • Rigid Packaging
  • Flexible Packaging

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Frequently Asked Questions

What would be the forecast period in the Bioplastics Market research report?

The forecast period in the Bioplastics Market research report is 2024-2032.

Who are the key players in the Bioplastics Market?

Novamont S.p.A. (Italy), Arkema S.A. (France), Matrìca S.p.A. (Italy), NatureWorks LLC (U.S.), TotalEnergies Corbion (Netherlands), PTT MCC Biochem Co., Ltd. (Thailand), Roquette Frères (France), Biofase (Mexico), Genecis (Canada), Trifilon (Sweden), Solvay S.A. (Belgium), Avantium (Netherlands), Toray Industries, Inc. (Japan), LyondellBasell Industries Holdings B.V. (Netherlands), BASF SE (Germany), BioApply (Switzerland), Braskem (Brazil), Kaneka Takasago (Japan), Danimer Scientific (U.S.), Taghleef Industries (U.A.E.), Advance Bio Material P. Ltd. (India). and Other Major Players.

What are the segments of the Bioplastics Market?

The Bioplastics Market is segmented into Type, Application, and region. By Type, the market is categorized into Biodegradable {Starch blends, Polylactic acid, Polybutylene Adipate Terephthalate, Polybutylene Succinate} & Non-Biodegradable {Bio- Polyethylene Terephthalate, Bio-Polyamide, Bio-Polyethylene, Bio-Polytrimethylene Terephthalate}. By Application, the market is categorized into Rigid Packaging {Bottles & Jars, Trays}, Flexible Packaging {Pouches, Shopping/Waste Bags}, Textiles, Automotive & Transportation. By region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).

What is the Bioplastics Market?

Bioplastics, made from sources such as plant starch, cellulose, and natural sugars, offer a hopeful solution in combatting plastic waste. These resources, obtained from plentiful and renewable sources, provide a practical option to conventional plastics, mainly made from finite fossil fuels. Although not all bioplastics are naturally biodegradable, a number of them have the benefit of breaking down faster in the natural environment than traditional plastics. This trait is especially important for tackling environmental issues linked to plastic pollution, as bioplastics have the potential to decrease the longevity of plastic waste in ecosystems.

How big is the Bioplastics Market?

Bioplastics Market Size Was Valued at USD 7.48 Billion in 2023 and is Projected to Reach USD 74.51 Billion by 2032, Growing at a CAGR of 29.1% From 2024-2032.

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