The global bioplastics industry will grow with a CAGR of 6.7% during the period 2021-2027

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DUBLIN, October 27, 2022 /PRNewswire/ — The “Bioplastics Market, Size, Share, Global Forecast 2022-2027, Industry Trends, Impact of COVID-19, Opportunity Business Analysis” report has been added to from ResearchAndMarkets.com offer.

The global bioplastics market is expected to reach US$9.9 billion by 2027. Bioplastics have been seen in recent years as a potential solution to address environmental and economic challenges. Bioplastic is a sustainable material made from renewable raw materials and an alternative to petroleum-based plastics, reducing carbon dioxide emissions by 30-70%.

This represents a reduction of around 42% in the carbon footprint. Remarkably, bioplastics represent the fastest growing product line for bio-based products. Moreover, the adoption of bioplastics has increased significantly in various applications, owing to the advanced technical properties and functionalities. Furthermore, the demand for bioplastics has gained popularity in multiple plastic applications due to the encouraging legislation implemented by various governments across the world.

The global bioplastics industry will grow with a CAGR of 6.7% during the period 2021-2027

Since the last decade, the demand for bioplastics has increased due to growing awareness of environmental conservation, bio-based or natural resources for manufacturing materials, and various regulations across countries for efficient use. natural resources and waste management. Also, as an alternative to conventional fossil-based plastics, the use of biomass-based plastics is being promoted for applications where the former were typically used. Additionally, due to the strict laws and legislations of many agencies on the use of non-renewable single-use plastics, industries have diverted their attention to the development and use of bioplastics for countless purposes.

Bioplastics Packaging – An Integral Part of Global Bioplastics Market Application:

With the evolution of time, bioplastics have found their application in packaging, agriculture, consumer goods, textiles, automotive and transportation, building and construction. In addition, bioplastic packaging has had fundamental importance over the years. Recently, bioplastic packaging has become an integral part of the global bioplastic market application. Bioplastics are applied in various sectors, including fibers, medical, packaging and agriculture. Rising consumer awareness of bioplastic packaging has led to considerable growth in the overall market. Furthermore, the environment-friendly initiatives of the companies and the abundant availability of raw materials for the manufacture of bioplastics are important factors driving the growth of the global bioplastics market.

PLA for Pace Biodegradable:

Biodegradable plastics represent their majority application in the global bioplastics market. Excellent growth is forecast for major biodegradable plastics such as polylactic acid (PLA), which will drive its demand through 2021. According to the analysis, the rapid growth of PLA is expected to benefit from advances in composite polymerization technology and its relatively low cost compared to other bioplastics. Similarly, the fastest gains for biodegradable plastics will also be seen for polyhydroxyalkanoate (PHA) resins, which have only just entered the commercial market.

Non-biodegradable polytrimethylene terephthalate (PTT) gains:

Despite strong progress in biodegradables, non-biodegradable polytrimethylene terephthalate (PTT) will be the main driver of demand for bioplastics through 2021 and beyond. Gains will be driven primarily by the industrial and residential carpet market. Polytrimethylene terephthalate is used in the textile industry because it can be spun into both yarn and fibers. Additionally, PTT can be used in textiles and apparel, nonwoven films, engineering thermoplastics, and monofilaments. In addition, PTT is used in carpets for the automotive market. Therefore, this material finds applications in clothing, upholstery, and automotive upholstery. Remarkably, PTT composites and bio-composites can represent significant opportunities for the market.

Asia-Pacific is well positioned to become a global hub for bioplastics:

Asia Pacific is well positioned to become a global bioplastics hub. The Asia Pacific is a leading producer of raw materials required for the synthesis of bioplastics and has advanced technology and technical expertise at all stages of the supply chain. Market consumers have access to the industry and strong supportive government policy has been implemented to fuel the growth of the bioplastics sector. Therefore, all these factors point to Asia Pacific the drive to emerge as a global bioplastics hub.

Material Type – Global Bioplastics was covered from 2 perspectives:

1. Biodegradable
2. Not biodegradable

Biodegradable – Global Bioplastics has been covered from 6 perspectives:

1. Polybutylene terephthalate adipate (PBAT)
2. Polybutylene Succinate (PBS)
3. Polylactic acid (PLA)
4. Polyhydroxyalkanoate (PHA)
5. Starch mixtures
6. Others

Non-biodegradable – Global Bioplastics has been covered from 6 perspectives:

1. Polyethylene (PE)
2. Polyethylene terephthalate (PET)
3.Polyamide (PA)
4. Polypropylene (PP)
5. Polytrimethylene terephthalate) (PTT)
6. Others

Applications – The global bioplastics market has been covered from 7 perspectives:

1. Packaging
2. Farming
3. Consumer goods
4. Textiles
5. Automotive and Transportation

Region – The global bioplastics market has been covered from 4 perspectives:

1. North America
2. Europe
3. Asia Pacific
4. Rest of the world

Main topics covered:

1. Introduction

2. Research and methodology

3. Executive Summary

4. Market dynamics

5. Global Analysis of Bioplastics

6. Market Share – Global Analysis of Bioplastics

7. Volume Share – Global Bioplastics Analysis

8. Material Type – Global Bioplastics Market

9. Applications – Global Bioplastics Market

10. Regions – Global Bioplastics Market

11. Carriers five forces

12. Business Analysis

Companies cited

  • Total Corbion (Netherlands)
  • Mitsubishi Chemical Holding Corporation (Japan)
  • Toray Industries (Japan)
  • Biome Bioplastics (UK)
  • Green dot bioplastics

For more information on this report, visit https://www.researchandmarkets.com/r/m5tifx

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