Bioplastics Market Forecast to 2030
The global bioplastics market size was USD 10.64 Billion in 2021 and is expected to register a revenue CAGR of 16.8% over the forecast period, according to the latest analysis by Emergen Research. Increase in demand for bioplastics from the automotive industry and demand for compostable plastics to improve soil quality are factors expected to support revenue growth of the market between 2022 and 2030. The automotive industry's primary objective and challenge is to reduce fuel consumption and pollutants by reducing vehicle weight. Bioplastics are effective materials for achieving this purpose. These smart plastics, such as bio-PA and bio-PP, have been embraced by major vehicle manufacturers to reduce environmental impact and provide additional strength to automobile components. Thus, demand for these plastics in the automotive industry owing to their excellent properties is anticipated to create lucrative growth prospects for companies in the market.
The report investigates the factors influencing industry growth in the global Bioplastics Market and makes accurate predictions about the growth pattern. The report focuses on the market's key elements, such as drivers, restraints, opportunities, threats, risks, limitations, and other factors. The report includes a detailed analysis of the company profiles, product portfolio, and business expansion strategies, as well as a comprehensive analysis of the competitive landscape.
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The global Bioplastics market report employs an extremely extensive and perceptive process that analyzes statistical data relating to services and products offered in the market. The research study is a pivotal document in understanding the needs and wants of the clients. The report is comprised of significant data about the leading companies and their marketing strategies. The Bioplastics industry is witnessing an expansion and change of dynamics owing to the entry of several new players.
The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.
BASF SE, NatureWorks, Biome Plastics, Braskem, Biotec, Total Corbion, Plantic Technologies, Mitsubishi Chemical Holdings Corporation, Novamont SPA, and Toray Industries
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Some Key Highlights From the Report
- The biodegradable segment accounted for largest revenue share in 2021, owing to high demand from the packaging, textiles, agricultural, and consumer goods industries. These industries favor biodegradable varieties since they provide the required performance attributes while also being biologically sustainable. Biodegradable bioplastics have many advantages, including lower carbon footprint, less energy usage, eco-friendly disposable solutions, and recyclability. Moreover, biodegradable bioplastics aid in the monitoring of petroleum reserves.
- The packaging segment is expected to lead in terms of revenue growth rate during the forecast period. Increasing use of bioplastics in the production of compost bags, agricultural foils, nursery products, toys, horticultural items, and textiles is driving revenue growth of the segment. Bioplastics are also used in the manufacturing of clingfilm, disposable cups, plates, bowls, and food containers. Development of food-grade bioplastics has increased the shelf life of food products, which drives their demand and boosts revenue growth of the segment.
- The bioplastics market in Europe is expected to account for largest revenue share among other regional markets during the forecast period, due to the surging demand for bioplastics from several end-use industries such as packaging, textile, automotive transport, agriculture, medical, and construction, among others. The region is observing increased investment in RD and the rising production of bioplastics with producers focusing on expanding their production capacity to cater to consumers' growing demand. Besides, stringent regulatory norms to limit the use of synthetic polymer, in turn, would drive the demand for bioplastics.
- On 1 July 2021, Solvay completed its acquisition of Bayer's global seed coatings business. The acquisition will expand Solvay's existing seed care portfolio in bio-based, seed-applied treatments, and allows Bayer to reinvest.
Market Overview:
The report bifurcates the Bioplastics market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- Type Outlook (Revenue, USD Billion; 2019-2030)
- Biodegradable
- Polybutylene Adipate Terephthalate (PBAT)
- Polybutylene Succinate (PBS)
- Polylactic Acid (PLA)
- Polyhydroxyalkanoate (PHA)
- Starch Blends
- Others
- Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)
- Online
- Offline
- Application Outlook (Revenue, USD Billion; 2019-2030)
- Packaging
- Textile
- Automotive Transportation
- Consumer Goods
- Agriculture
- Building Construction
- Others
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The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market.
Regional Analysis Covers:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Furthermore, the report provides the analytical data in an organized format segmented into charts, tables, graphs, figures, and diagrams. This enables readers to understand the market scenario in an easy and beneficial manner. Moreover, the report aims to impart a prospective outlook and draw an informative conclusion to assist the reader in making lucrative business decisions. The report, in conclusion, provides a detailed analysis of the segments expected to dominate the market, the regional bifurcation, the estimated market size and share, and comprehensive SWOT analysis and Porter’s Five Forces Analysis.
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