Market Insights and Analysis: Global Bioplastic Market Overview and Projections (2023-2028)
The Global Bioplastic market size is valued at around USD 8.21 billion in 2024 and is projected to grow at a CAGR of around 10.12% during the forecast period, i.e., 2023-28. Some factors that have attributed to growth are increasing sustainability consciousness among consumers & industry players, stringent government regulations being placed in many regions, a growing number of biodegradable options available, etc.
Top leading companies in the Global Bioplastic Market includes:
Novamont S.p.A, Arkema S.A., Matrica S.p.A., Solvay S.A., NatureWorks LLC, Total Corbion PLA bv, PTT MCC Biochem Co. Ltd, Roquette Feres, Avantium, Toray Industries Inc., LyondellBasell Industries Holding B.V., BASF SE, BioApply, Braskem, Biofase, Genecis, Trifilon, Kaneka Takasaho, Danimer Scientific, Taghleef Industries, Others.
Global Bioplastic Market Key Trend:
Burgeoning Usage in Automotive Parts – Automotive is one of the critical growth industries across the globe that has witnessed sustained growth with the rise in population coinciding with soaring disposable income & a burgeoning middle-class population. With the rising need for vehicles, automotive manufacturing companies have become extensively dependent on steel & other plastic products. This is anticipated to take a shift in the coming years with the inclination of automotive manufacturing companies toward the integration of bioplastic-based products in vehicles. Furthermore, various resources, including bio-polyamide, polylactic acid, bio-based polypropylene, etc., are being used as an alternative to several non-biodegradable plastic counterparts in automotive components. However, the integration of these resources in automotive components is still in its infancy stage & is expected to be implemented in various elements in the coming years to reduce the carbon footprint of the pertinent industry.
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Report Segmentation:
The market is categorized into the following segments in the report:
By Product Type
-Biodegradable
-Polylactic Acid
-Cellulose Film
-Starch Blend
-Polybutylene Adipate Terephthalate (PBAT)
-Polybutylene Succinate (PBS)
-Others
Non-Biodegradable
-Polyethylene
-Polyethylene Terephthalate
-Polyamide
-Polytrimethylene Terephthalate
-Others
By Raw Material
-Sugarcane
-Potato
-Corn Starch
-Switch grass
-Vegetable Oil
-Cassava
-Wheat
-Others
By End-User
-Packaging
-Rigid Packaging
-Flexible Packaging
-Agriculture
-Consumer Goods
-Automotive & Transport
-Agriculture & Horticulture
-Electrical & Electronics
-Textiles
-Others (Building & Construction, coatings & adhesives, etc.).
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Global Bioplastic Market Geographic Reach:
The Geographic Reach of the Global Bioplastic Market evaluates the spread and significance of Global Bioplastic market consumption across different regions/country, emphasizing areas with the largest market size and the most promising growth potential.
- North America: US, Canada, Mexico
- Europe: Germany, The UK, Germany, France, Spain, Italy, Nordic Countries, Rest of Europe
- Asia-Pacific: China, India, Japan, South Korea, Southeast Asia, Australia
- Rest of Asia-Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: Saudi Arabia, The UAE, Turkey, Egypt, South Africa, Rest of The Middle East & Africa.
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