Bioplastics Market Size & Share, by Product (Biodegradable, Non-biodegradable); Application (Packaging, Automotive & Transportation, Textile) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 3923
  • Published Date: Aug 02, 2023
  • Report Format: PDF, PPT

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

Bioplastics Market size is set to reach USD 63 Billion by the end of 2035, growing at a CAGR of 19% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of bioplastics was over USD 12 Billion. The reason behind the growth is owing to increasing demand for electronics across the world. Since the demand for consumer electronics is rising a wider variety of Bioplastics are being developed to promote the idea of green electronics. For instance, touchscreen computer cases, laptop mice, loudspeakers, keyboard components, mobile cases, circuit boards, semiconductor casings, and electronic device coverings are all produced using Bioplastics.

The growing automotive sector across the globe is believed to fuel bioplastics market growth. For instance, polyurethanes, polyamides, and polyesters are a few of the bioplastics utilized in automobiles, amongst them polylactic acid (PLA) is known to be one of the newest bioplastics employed in the automotive sector.

The usage of bioplastics in automobiles can aid in energy conservation and the reduction of greenhouse gas emissions, since it is known that bioplastics weigh over 24% less than conventional plastics, which as a result, decreases the overall curb weight of the vehicle, enhancing vehicle economy.


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

Bioplastics Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Environmental Concern – Environmental concerns are becoming more and more prevalent, which is expected to drive market growth. For instance, plastics made from biomaterials help save petroleum supplies, bioplastics such as bio-PP, bio-PE, or bio-PET generate less greenhouse gas emissions throughout their lifetime than conventional plastics, and they also improve a product's carbon footprint while reducing reliance on fossil fuels.
  • Rising Need for Compostable Plastics in Agriculture- It is expected that as the desire for "green" items rises, compostable plastic is becoming a more common option in agriculture, which often utilizes corn starch as a raw material for production. Instead of using fossil fuels, bio-based materials such as seaweed, sugar beets, or other plants are frequently used to make plastic, which improves the quality of vegetable crops, and eliminates the need for herbicides and pesticides.
    In addition, factors such as the rising adoption of eco-friendly plastics and favorable government policies about the usage of bioplastics will all contribute to the market's expansion.

Challenges

  • Exorbitant Manufacturing Cost of Bioplastics - The high production cost is one of the major factors predicted to slow down the market growth. Owing to economies of scale, cost of research & development, varying cost of raw materials, and high cost of polymer plant construction, most bioplastics are now more expensive to create than fossil-based plastics, and there is also not enough production. For instance, the cost of PET or PE made from sugar cane or bio-ethanol is over 10% higher than that of traditional plastics. As a result of the high costs required, the manufacture of bioplastics is still very limited.
  • Availability of Alternatives
  • Lack of Advanced Functionality

Bioplastics Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~19%

Base Year Market Size (2022)

USD 12 Billion

Forecast Year Market Size (2035)

USD 63 Billion

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

Bioplastics Segmentation

Product (Biodegradable, Non-biodegradable)

The non-biodegradable segment in the bioplastics market is estimated to gain a robust revenue share in the coming years. The segment growth can be attributed to the increasing demand for non-biodegradable bioplastics in vehicle interiors. Bio-based polymers are highly suited for this use and as a result, have seen considerable demand from the automobile sector, and it is expected that they have a bright future for car interiors. 

In the production of automobiles, a variety of bioplastics are employed, including bio-based polyamide (PA), polybutylene succinate (PBS), and polylactic acid (PLA), amongst them, One of the most popular bioplastics in the automobile sector is polylactic acid (PLA), which is produced from maize, and is produced using a procedure that uses little energy and resources. PLA might be employed when wrapping vehicles for protection during production and transportation. In addition, mats, carpeting, and upholstery are interior vehicle parts that are ideal for usage with PLA.

Application- (Packaging, Automotive & Transportation, Textile)

The packaging segment is set to garner over 60% of the share in near future. The expansion of the segment is driven by rising demand for packaged food & beverages. To reduce the environmental impact of food and beverage packaging, food and beverage are packaged and stored in biodegradable bags made from biodegradable substances such as gelatin, starch, chitosan, cellulose, and polylactic acid. For instance, meat, dairy products, baked goods, and other products are packaged in biodegradable food packaging films and containers composed of biodegradable polymers, including poly (vinyl alcohol) PVA, a different bioplastic, which is widely used for food packaging owing to its excellent film-forming and biodegradability properties.

Further, the Food and Drug Administration has also authorized PVA as an indirect food additive for flexible food packaging, owing to its superior mechanical, microbiological, and ultraviolet protection qualities.

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

 

    By Product

  • Biodegradable
  • Non-Biodegradable

    By Application

  • Packaging
  • Automotive & Transportation
  • Textile

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

Bioplastics Industry - Regional Synopsis

European Market Forecast

The market in Europe is predicted to account for the largest share of more than 41% by the end of 2035. The expansion of the market can be driven by the growing adoption of bioplastics in various sectors. As a result of the region's plastic prohibition and to meet the growing demand for sustainable alternatives to traditional plastics, Europe is poised to become a major producer of bioplastics. For instance, one of the main consumers of plastic packaging in the area is the food and beverage industry since it has benefits including minimal environmental impact.

Additionally, bioplastics are being increasingly used in the automotive industry in the European region to benefit from factors such as weight reduction and increased fuel efficiency. In addition, bioplastics are used in the production of consumer items including toys and electronics, which are becoming more and more popular in the area.

Asia Pacific Market Statistics

Bioplastics market in Asia Pacific, is estimated to be the second largest, during the forecast timeframe. The market progress in the region is impelled by raising consciousness about plastic trash in developing nations. For instance, countries in the region are working harder to combat plastic pollution in the rivers and oceans, and also have implemented bans on the usage of single-use plastics, which is expected to rise the demand for alternatives including bioplastics. As people are becoming more conscious about plastic trash and their negative environmental impacts they are increasingly shifting towards the use of bioplastics. Furthermore, along with the United States, Germany, Brazil, and Canada, China is one of the top five nations producing bioplastics, and it is predicted that China will produce over 6 million and 1 million tonnes, respectively, of the two primary forms of biodegradable plastic, PBAT, and PLA, by 2025, that will make up two-thirds of the world's output.

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

Companies Dominating the Global Bioplastics Market

top-features-companies
    • BASF SE
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Teijin Limited
    • NatureWorks LLC
    • Toray Industries, Inc.
    • Toyota Tsusho Corporation
    • M&G Chemicals S.A.
    • PTT Global Chemical
    • Showa Denko K. K.
    • Corbion N.V.
    • Solvay S.A.

In the News

  • Toray Industries, Inc. introduced 60% bio-based Ecodear nylon to create bio-based variations, and to assist the company to achieve important objectives outlined in its Sustainability Vision, including reducing carbon dioxide emissions and the amount of petroleum utilized in the fabric production supply chain.
  • Toyota Tsusho Corporation teamed up with Mitsui Chemicals and Neste to make it possible for Japan to produce sustainable chemicals and polymers on an industrial scale using only bio-based hydrocarbons, and allow business owners to begin using renewable plastics and chemicals in their goods and services for customers in the Asian market.

Author Credits:  Rajrani Baghel


  • Report ID: 3923
  • Published Date: Aug 02, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing demand for electronics across the world and the growing automotive sector are the major factors driving the market growth.

The market size of bioplastics is anticipated to attain a CAGR of 19% over the forecast period, i.e., 2023 – 2035.

The major players in the market are Teijin Limited, NatureWorks LLC, Toray Industries, Inc., Toyota Tsusho Corporation, M&G Chemicals S.A., PTT Global Chemical, Showa Denko K. K., Corbion N.V., and Solvay S.A.

The non-biodegradable is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

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