Automotive Bioplastic Market Size & Share, by Material Type (Bio-Polyamides, Natural Fibers, Poly-Lactic Acid, Polybutylene Succinate, Bio-Based Polypropylene), Application {Interior (Door Consoles & Panels, Interior Lighting, Fabrics & Upholstery, Instrument Panels, Floor Mats, Seats, Seat Cushion Foam, Ventilation Ducts), Exterior (Bumpers, Hoods, Trim, Exterior Lights,, Liftgates)} - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 2626
  • Published Date: Mar 30, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

Automotive Bioplastic Market size is anticipated to surpass USD 2300 million by the end of 2035, growing at a CAGR of 10% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of automotive bioplastic was over USD 670 million. The global automotive bioplastic market is thriving on the back of the growing sales and production of vehicles worldwide, backed by factors such as increasing urbanization and the rising disposable income of individuals. According to the statistics by International Organization of Motor Vehicle Manufacturers (OICA), sales of both commercial and passenger vehicles increased from 75 million in the year 2010 to 91 million in the year 2019, whereas production of vehicles increased from 77 million in the year 2010 to 91 million in the year 2019.

In addition to this, the growing need amongst vehicle manufacturers to reduce vehicle curb weight will drive the market growth. According to the statistics by the United States Environmental Protection Agency (EPA), transportation sector contributed to the major share of 28% for the GHG emissions in the United States. Increasing concern for vehicular emissions around the globe has raised the necessity amongst the vehicle manufacturers to find out alternatives that help to reduce the weight of the vehicle. A minor reduction in the weight of the vehicle reduces the pressure on the engine and further helps save the energy which it spends to carry the weight of the vehicle. Further, light weight vehicles are known to be more energy efficient and are also more secured in terms of their accidental ratings. Such a factor is anticipated to drive the growth of the global automotive bioplastic market over the forecast period.


Automotive Bioplastic Market
Get more information on this report: Request Free Sample PDF

Automotive Bioplastic Sector: Growth Drivers and Challenges

Growth Drivers

  • Increasing Concern for the Recycling of Vehicle Parts- Several parts of the vehicle are non-recyclable, or their recyclability costs are more. The recyclability rate of bioplastics is high which provides a great competitive edge for the adoption of bioplastics in automotive instead of other conventional available alternatives. On the other hand, as bioplastics have favourable recyclability rate, hence, the concern for the environment generated from plastic wastes is also less, which is also anticipated to drive the growth of the global automotive bioplastic market. For instance, every year, more than 11 million vehicles are recycled in the U.S.
  • Growing Automobile Industry: A variety of reasons have contributed to the growth of the automobile industry. One of the key elements impacting growth is increased automotive demand, particularly in emerging markets. Cars, trucks, and other vehicles' demand is expected to rise as economies expand and more people become able to afford them. According to current data, the global automobile sector is anticipated to be worth roughly USD 9 trillion by 2030.
  • Growing Demand for Lighter Materials: The automobile industry is always seeking for methods to decrease vehicle weight in order to increase fuel economy and lower emissions. Bioplastics are lighter and can be employed to replace heavy materials such as metals and petroleum-based polymers. Therefore, it is expected to surge the growth of the global automotive bioplastic market. For instance, it has been discovered that lowering a vehicle’s weight by one-tenth can improve mileage and efficiency by up to 5-8%.
  • Increasing Consumer Knowledge and Demand for Sustainable, Eco-Friendly Products: Customers are becoming more conscious of the environmental effect of their purchase decisions. As a result, there is an increasing need for environmentally friendly products, such as bioplastics. Study has revealed that over 33% of consumers all around the world are willing to pay higher for more eco-friendly and sustainable products and goods.

Challenges

  • High Production Costs of Bioplastics - The production costs of bioplastics are often very high as they are manufactured using raw materials sources from plants, which require huge arable land. Additionally, the fear amongst the farmers whether to grow food crops or cash crops, which might further affect the food grain stock, also hampers the production of cash crops. Such factors raise the cost of production of the raw materials required for the manufacturing of bioplastics, thereby impacting the cost of automotive parts manufactured from bioplastics, which is anticipated to limit the growth of the global automotive bioplastic market throughout the forecast period.
  • Some Bioplastics may not be as Durable as Other Plastics
  • Inconsistent Availability of Raw Materials

Automotive Bioplastic Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~10%

Base Year Market Size (2022)

~ USD 670 Million

Forecast Year Market Size (2035)

~ USD 2,300 Million

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
Get more information on this report: Request Free Sample PDF

Automotive Bioplastic Segmentation

Application {Interior (Door Consoles & Panels, Interior Lighting, Fabrics & Upholstery, Instrument Panels, Floor Mats, Seats, Seat Cushion Foam, Ventilation Ducts), Exterior (Bumpers, Hoods, Trim, Exterior Lights,, Liftgates)}

The global automotive bioplastic market is segmented and analyzed for demand and supply by application into interior and exterior. The interior segment is further sub-segmented into door consoles & panels, interior lighting, fabrics & upholstery, instrument panels, floor mats, seats, seat cushion foam, and ventilation ducts. The exterior segment is further sub-segmented into bumpers, hoods, trim, exterior lights, and liftgates. Out of these, the exterior segment is projected to garner the higher market share by the end of 2035 with a significant share of 55 percent. This can be accredited to the fact that exterior of a car often affects its weight, and bioplastics can be used instead to reduce it and make vehicles lighter. Moreover, car exterior parts often need replacing in case of accidents, which result is higher aftermarket sales. For instance, over one-third of car collisions involve damage to the car bumper, often needing replacement.

Material Type (Bio-Polyamides, Natural Fibers, Poly-Lactic Acid, Polybutylene Succinate, Bio-Based Polypropylene)

The global automotive bioplastic market is also segmented and analyzed for demand and supply by material type into bio-polyamides (Bio-Pa), natural fibers, poly-lactic acid, polybutylene succinate (PBS), bio-based polypropylene (Bio-PP) and others. Out of these, the poly-lactic acid segment is projected to garner the higher market share by the end of 2035. Polylactic acid (PLA), which is made from cornmeal, is one of the most widely used bioplastics in the automotive industry. PLA is commonly used in automotive interior materials, such as covers and car seat upholstery. Its use will increase with rise in the importance given to car interiors, especially in present-time electric cars, whose main selling points are sustainability and eco-friendly usage. Therefore, it is anticipated to rise the growth of the segment in the region.

Our in-depth analysis of the global market includes the following segments:

     By Material Type

  • Bio-Polyamides (Bio-Pa)
  •  Natural Fibers
  • Poly-Lactic Acid
  • Polybutylene Succinate (PBS)
  • Bio-Based Polypropylene (Bio-PP)
  • Others

     By Application

  • Interior
  • Door Consoles & Panels, Interior Lighting
  • Fabrics & Upholstery, Instrument Panels
  • Floor Mats
  • Seats
  • Seat Cushion Foam
  • Ventilation Ducts
  • Exterior
  • Bumpers
  •  Hoods
  • Trim
  • Exterior Lights
  • Liftgates

Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.

Customize this Report

Automotive Bioplastic Industry - Regional Synopsis

North American Market Forecast

The market share of automotive bioplastic in North America, amongst the market in all the other regions, is projected to be the largest with a share of about ~35% by the end of 2035. The presence of many significant market players as well as consistent investment in technological improvements and materials that lead to advances in automotive design and technology in the region are fueling the growth. Moreover, rising awareness among vehicle makers in the countries about rising vehicular GHG emissions is also expected to fuel the regional expansion of the automotive bioplastic market. According to the Environmental Protection Agency, the greenhouse emissions from the transportation accounted to nearly 27 percent of all the United States greenhouse gas emissions.

APAC Market Statistics

The Asia Pacific automotive bioplastic market, amongst the market in all the other regions, is projected to hold the second largest share of about ~24% during the forecast period. Countries such as China, India, and Japan are likely to fuel expansion in the Asia Pacific automotive bioplastic market. China now possesses the world's largest vehicle market, and the Chinese government has established lofty goals for lowering carbon emissions and encouraging sustainability. As a result, there has been a surge in interest in bioplastics as a more ecologically friendly alternative to standard plastics. India is also a large automobile market, with substantial growth projected in the next years. The Indian government has initiated various sustainability programs, including the Swachh Bharat Abhiyan initiative, which aspires to keep India clean and waste-free. As a result, there is an increasing need for sustainable materials such as bioplastics.

Europe Market Forecast

Further, the market in Europe, amongst the market in all the other regions, is projected to hold the third largest share by the end of 2035. The growth of the market can be attributed majorly to an increasing number of cars, as well as developing awareness amongst the car drivers for the zero net emission by 2050 target. According to statistics from 2022, approximately 60% of all new passenger vehicles sold in the European Union emit less than 130 gms of CO2 per kilometer.

Research Nester
Automotive Bioplastic Market Size
Get more information on this report: Request Free Sample PDF

Companies Dominating the Automotive Bioplastic Landscape

top-features-companies
    • AGRANA Beteiligungs-AG
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis 
    • Anellotech, Inc.
    • Archer Daniels Midland Company
    • BASF SE
    • BioSphere Plastic LLC
    • Mitsui Chemicals, Inc.
    • MetGen Oy
    • Danimer Scientific
    • Covestro AG
    • Sojitz Pla-Net Corporation

In the News

  • Anellotech, Inc., announced that R Plus Japan Ltd., a new joint venture company, will invest in the development of Anellotech's cutting-edge Plas-TCat technology for recycling used plastics. R Plus Japan was founded by 12 cross-industry partners from the Japanese plastics supply chain.

  • LG Chem, and ADM (NYSE: ADM) announced to launch two joint ventures for lactic acid and polylactic acid production in the United States to meet growing demand for a wide range of plant-based products, including bioplastics. Pending final investment decisions, the joint ventures have chosen Decatur, Illinois, U.S., as the location of their intended production facilities.

Author Credits:  Rajrani Baghel


  • Report ID: 2626
  • Published Date: Mar 30, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing consumer demand for eco-friendly products and rising use of lighter materials in automobiles are the major factors driving the market growth.

The market is anticipated to attain a CAGR of 10% over the forecast period, i.e., 2023-2035.

The high production cost of bioplastics is estimated to be the growth hindering factors for the market expansion.

The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are MetGen Oy, Danimer Scientific, Covestro AG, and Sojitz Pla-Net Corporation, and others.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by material type, application, and by region.

The poly-lactic acid segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Automotive Bioplastic Market Report Scope
logo
  GET A FREE SAMPLE

FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.

 Request Free Sample Copy

Have questions before ordering this report?

Inquiry Before Buying