Bioplastics Market Report by Material Type (Biodegradable (Polybutyleneadipate Terephthalate (PBAT), Polybutylene Succinate (PBS), Polylactic Acid (PLA), Polyhydroxyalkanoate (PHA), Starch Blends and Others) and Non-Biodegradable (Polyethylene (PE), Polyethylene terephthalate (PET), Polyamide (PA), Polypropylene (PP), Polytrimethylene terephthalate) (PTT) and Others)), Applications (Packaging, Agriculture, Consumer Goods, Textile, Automotive & Transportation, and Building & Construction, others), Countries and Company Analysis, 2024-2032

Driving Forces of Global Bioplastic Market -

Increased Demand from the Automobile Sector Will Open Up Growth Opportunities:

The automobile industry's main goal is to reduce vehicle weight in order to reduce emissions and fuel consumption. In order to reduce their environmental effect and improve the strength of automotive components, major automakers have begun to use smart polymers like bio-PA and bio-PP, which have emerged as viable materials for accomplishing this goal. According to the European Associations, production quantities of these polymers are predicted to reach over 170 KT by 2024, marking a considerable development in the technical application of these materials in the automotive sector. Consequently, the increased need for bioplastics in automotive applications due to their better qualities is expected to generate positive growth opportunities for market players.

Growing Packaging Industry Demand for Eco-Friendly Plastics Will Drive Market Growth:

Plastic is used extensively in horticulture and agriculture for a variety of applications, including building greenhouses, making bins, silos, and storage bags. Furthermore, sustainable amounts of mulching films and harvest-protection bags are used in intensive and semi-intensive agricultural techniques to prevent weed growth, protect crops from pests, and control soil moisture and nutrient levels to create ideal microclimates. Traditional plastics, on the other hand, are not biodegradable and remain in the environment for several harvest cycles. This causes environmental risks and hinders crop growth by preventing roots from accessing soil nutrients and water.

Because of this, a large number of businesses that specialize in agricultural plastics are switching to biodegradable substitutes derived from sustainable and renewable resources. These polymers are both economically and technically viable. In addition to encouraging plant development, bioplastic breaks down organically and enriches the soil as it does so. As a result, horticulture and agriculture are seeing an increase in demand for these bio-based plastics, which is expected to lead to positive growth prospects for the global market over the course of the forecast period.

Europe Bioplastic Market

The market for bioplastics was dominated by Europe, with Germany, Italy, and the United Kingdom accounting for the majority of demand.

The food and beverage business in Germany is distinguished by the presence of more than 6,000 small and medium-sized enterprises. propelling the nation's use of bioplastics in the flexible and rigid packaging sector.

The German Gross Domestic Product (GDP) from agriculture climbed to EUR 7.64 billion (~USD 8.88 billion) in the fourth quarter of 2021 from EUR 7.41 billion (~USD 8.61 billion) in the third quarter, according to the Federal Statistical Office.

One of the biggest packaging industries in the world is found in Italy. There are currently about 7,000 major and small packaging businesses operating in the nation. The nation's need for packaging is rising due to the expanding significance of supermarket retailing and shifting customer buying patterns. Furthermore, the requirement for packing materials is rising as a result of exports.

The total number of automobiles produced in Italy during the first three quarters of 2021 was 600,586; this is a 20% increase over the same period in 2020. In addition, the total number of vehicles produced in 2021 was approximately 795,856 units, up 2% from 2020, with a volume of almost 777,165. In the near future, the rising demand for electric cars is anticipated to bolster the expansion of the sector as a whole.

In Europe, the UK is the fourth-biggest plastics consumer. When it comes to creating sophisticated and modified plastics, the nation is regarded as one of the most inventive and developed in the world. Nonetheless, the nation is concentrating on bioplastics as a result of growing awareness of the harm that petroleum-based, non-biodegradable plastics cause to the environment.

With over 18,000 UK-based electronics companies, the UK is the largest European market for high-end consumer electronics products. The Department for International Trade estimates that the electronics industry in the UK contributes approximately GBP 16 billion (~USD 21.86 billion) to the local economy each year.

Therefore, it is anticipated that the regional market environment will increase demand for bioplastics during the course of the projection period.

Global Bioplastic Company Analysis:

Some leading Bioplastic companies are Total Corbion, Mitsubishi Chemical Holding Corporation, Toray Industries, BASF SE, Green Dot Bioplastics, Amcor Limited.

Global Bioplastic Company News:

April 2024: Gaia Biomaterials, a Swedish bioplastics firm, successfully closed a US$ 5 million rights issue. The Swedish government-owned greentech venture capital fund Almi Invest Greentech, as well as individual domestic and foreign investors, support the rights issue. The money will be utilized to increase market share in the targeted markets of India, the US, and other countries.

April 2024: Luminy PLA bioplastics were showcased by TotalEnergies Corbion during Chinaplas 2024, the leading plastics and rubber trade show in Asia, held in Shanghai. Additionally, it demonstrated how simple it is for businesses to switch to PLA bioplastics and reduce the carbon emissions of their products by up to 75% when compared to traditional plastic alternatives.

March 2024: In order to facilitate the establishment of India's first bioplastics facility, Sulzer Ltd. consented to provide Balrampur Chini Mills Limited (BCML) with its state-of-the-art polylactic acid (PLA) production methods. Using sugarcane as a feedstock, the brand-new, cutting-edge bioplastics facility will create 75,000 tons of biodegradable, fully recyclable bioplastic annually. Because of its proximity to one of BCML's sugar cane processing facilities, the company will be able to leverage the primary crop of the nation to significantly advance the sustainability goals of the country.

Key Questions Answered in This Report:

Question:    How big is the Bioplastic Industry?

Question:    What is the Bioplastic Industry growth rate?

Question:    Who are the key players in Bioplastic Industry?

Question:    What are the factors driving the Bioplastic Industry?

Question:    Which Region held the largest market share in the Bioplastic Industry?

Material Type – Market has been covered from 2 viewpoints:

1. Biodegradable
2. Non-Biodegradable

Biodegradable – Market has been covered from 6 viewpoints:

1. PBAT
2. PBS
3. PLA
4. PHA
5. Starch Blends
6. Others

Non-Biodegradable – Market has been covered from 6 viewpoints:

1. PE
2. PET
3. PA
4. PP
5. PTT
6. Others

Applications – Market has been covered from 7 viewpoints:

1. Packaging
2. Agriculture
3. Consumer goods
4. Textile
5. Automotive & Transportation
6. Building & Construction
7. Others

Geography – Market Breakup of 23 countries -

•    North America

o    United States
o    Canada
o    Colombia

•    Europe

o    France
o    Germany
o    Italy
o    Spain
o    United Kingdom
o    Netherlands

•    Asia Pacific

o    China
o    Japan
o    India
o    Australia
o    South Korea
o    Malaysia
o    Indonesia

•    Latin America

o    Brazil
o    Mexico
o    Argentina

•    Middle East & Africa

o    South Africa
o    Saudi Arabia
o    UAE
o    Israel

•    ROW
 

Company Insights:

•    Overview
•    Recent Development
•    Product Portfolio
•    Revenue

Key Players Analysis:

1. Total Corbion
2. Mitsubishi Chemical Holding Corporation
3. Toray Industries
4. BASF SE
5. Green Dot Bioplastics
6. Amcor Limited

Report Details: