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: Smruti Ranjan, 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 â€“ 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.