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Global Bioplastic Market An Overview of Demand and Supply Factors Impacting Growth up to 2032

Global Bioplastic Market An Overview of Demand and Supply Factors Impacting Growth up to 2032

The recent “Global Bioplastic Market” report by Report Ocean gathers insights and assessments through genuine consultations with key stakeholders, including CEOs, Managers, Department Heads of Suppliers, Manufacturers, and Distributors. This comprehensive study aims to thoroughly examine the global industry, target market, competition, and various influencing factors. Ask for Free Sample Report

The report on the “Global Bioplastic Market” conducts a data-driven quantitative analysis of the relevant industry. It utilizes research based on public records to identify significant patterns. Additionally, it provides predictions for the market sector’s growth between 2024 and 2032. The research primarily focuses on major global market manufacturers, analyzing sales volume, rates, competitive aspects, market share, and development strategies up to 2032.

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Global Bioplastic Market Analysis and Growth Forecast:

The global bioplastic market held a market value of USD 2,459.6 million in 2020 and is estimated to reach USD 5,145.2 million by the year 2027. The market is anticipated to register a CAGR of 11.3% during the forecast period. Moreover, the market volume was estimated to be 852 Kilo tons in 2020.

Bioplastics are a type of plastic that is made from natural resources, such as straw, corn starch, woodchips, sawdust, vegetable oils and starches. The rising inclination towards the use of environment friendly products for a sustainable society is driving the growth of this market. Moreover, government, non-government, as well as manufacturers are aiming at increasing awareness by providing policies, subsidies, and other positive strategies and perks that drive the growth of the bioplastics market across the world.

The rising dependency on renewable biomass materials also contributes heavily towards the growth rate. The biomass plastic market is growing at a substantial rate, that aids the growth of bioplastics market. On the basis of raw material, the biomass plastic market is segmented into agricultural crop residues, forestry residues, microbes, wood processing residues, recycled food waste and others. The agricultural crop residues segment is estimated to have the highest market share of around 57.2% in 2020. The Asia Pacific region held the foremost share of around 42% in the global biomass plastics market in the year 2020.

On the other hand, the high cost to end user is a restraining factor for bioplastics market. Moreover, many researchers have pointed out to the limited performance of bioplastics, which decreases the preference rate of bioplastics among stakeholders. Thus, these factors curb the growth rate of the bioplastics market.

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Growth Influencers:

Environmentally friendly properties and favorable government policy

Bio-based plastics have unique benefits over conventional plastics to decrease the dependency on limited fossil resources as well as to lessen greenhouse gas emissions. Bioplastics are considered to be carbon neutral and supports sustainable measures to the environment. Moreover, several governments all over the world are trying to develop policies of the production of bio plastics. For instance, in July 2019, the Department for Business, Energy, and Industrial Strategy (BEIS), situated in the United Kingdom publicized a drive to boost modernization in bioplastics. The GBP 60 million government investment is anticipated to immensely increase the UK and development (R&D) sector and further produce GBP 149 million from businesses. Overall, such optimistic growth from several end-user industries is projected to drive the UK market in the coming years.

High consumer acceptance and renewable raw material sources

The raw materials, such as wood, cork, bamboo, straw, linoleum, soy, and wool, among others, are renewable in nature. The sustainability factor of these materials pushes the demand, thus enhancing consumer preference. Such a factor aids significantly in increasing the growth rate of the bioplastic market.

Competitive Landscape

Key players operating in the global bioplastic market include BASF SE, Biome Technologies plc, Braskem, Corbion N.V., Danimer Scientific., E. I. du Pont de Nemours and Company, Eastman Chemical Company, Futerro SA, Galactic, M& G Chemicals, Mitsubishi Chemical Holdings, NatureWorks LLC, Novamont S.p.A., Plantic, PTT Global Chemical Public Company Ltd., Showa Denko K.K., Solvay SA, Teijin Ltd., Toray Industries, Toyota Tsusho, among others.

The major six players in the market hold approximately 60% of the market share. These market players are investing in product launches, collaborations, mergers & acquisitions, and expansions to create a competitive edge in the market. For instance, in September 2020, Corbion and Total announced their intention to build a new PLA bioplastics plant in Europe through their Total Corbion PLA joint venture. The plant is expected to have a capacity of 100,000 tons per annum, and the first world-scale PLA production facility in Europe. This new plant is planned to be located in Grandpuits, France and to be operational in 2024.

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Segments Overview:

The global bioplastic market is segmented into type and mode application.

By Type,

Biodegradable
Starch-based
Poly lactic Acid (PLA)
Poly hydroxylalkanoates (PHA)
Polyester (PBS, PBAT, and PCL)
Other Biodegradable Plastics

Non-biodegradable
Bio-polyethylene Terephthalate (PET)
Bio-Polyethylene
Bio-Polyamides
Bio-Polytrimethylene Terephthalate
Other Non-Biodegradable Plastics

The biodegradable segment is anticipated to hold the largest market share of more than 70%. The non-biodegradable segment is estimated to grow at a CAGR of 8.8%. The polyester market volume is expected to hit 891.4 kilo tons in 2027. The increasing PLA, PHA and PBS product usage and benefits are fueling the growth of this segment. For instance, Nodax, Danimers signature PHA, and Novomer p(3HP) have different properties and attributes: Nodax has strong performance and biodegradability properties, making it possible to be used across varied end-use applications, while p(3HP) has enhanced barrier characteristics and is a lower cost non-fermented input.

By Mode Application,
Rigid Packaging
o Bottles & Jars
o Trays (Market Volume size will cross 400 kilo tons in 2027)
o Others
Flexible Packaging (Largest Market Share)
o Pouches
o Shopping/Waste Bags
o Others
Agriculture & Horticulture
Consumer goods
Textile
Automotive & Transportation
Building & Construction
Others

The flexible packaging segment held the largest share in 2020 owing to the increase in the use of pouches and waste bags. Based on rigid packaging, the trays market volume is anticipated to cross 400 kilo tons in 2027. The consumer goods segment is anticipated to be the fastest growing segment with a CAGR of 12.4% owing to the rise in adoption of bioplastics in the manufacturing process of consumer goods.

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Regional Overview

By region, the global bioplastic market is divided into Europe, North America, Asia Pacific, Middle East & Africa, and South America.

The Asia Pacific region is expected to hold the largest market share of around 43% in 2020 owing to the increasing initiatives by government and the companies. For instance, in September 2019, Green Science Alliance, a Japanese chemical company, developed a new approach to manufacturing bioplastic. The company produced a bottle made of a 100% biobased composite material.

The European region is anticipated to grow substantially owing to the increasing number of companies investing in research and development to develop cutting-edge products. The North American region is also anticipated to grow at a considerable rate. The Latin American market volume for bioplastics is anticipated to cross 300 kilo tons in 2025.

The global bioplastic market report provides insights on the below pointers:

Market Penetration: Provides comprehensive information on the market offered by the prominent players

Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets

Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments

Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global bioplastic market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.

Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

Pricing Analysis: Pricing analysis of various types and other components used in the manufacturing of bioplastics

Manufacturing Cost Analysis: Cost-share of various bioplastic materials, cost analysis of bioplastic materials, Unit Cost Analysis of bioplastic materials,

The global bioplastic market report answers questions such as:

  • What is the market size and forecast of the global bioplastic market?
  • What are the inhibiting factors and impact of COVID-19 on the global bioplastic market during the assessment period?
  • Which are the products/segments/applications/areas to invest in over the assessment period in the global bioplastic market?
  • What is the competitive strategic window for opportunities in the global bioplastic market?
  • What are the technology trends and regulatory frameworks in the global bioplastic market?
  • What is the market share of the leading players in the global bioplastic market?
  • What modes and strategic moves are considered favorable for entering the global bioplastic market?

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Report Components

Market Synopsis: This section encapsulates the present market scenario and outlines the industry’s scope. It includes a comprehensive analysis of key segments such as product types, applications, and regions, with revenue and sales forecasts provided as part of this overview.

Competitive Landscape: Illuminating the market’s competitive terrain, this section presents an in-depth analysis of manufacturers, offering insights into individual players’ revenue and sales figures. Additionally, it encompasses noteworthy details on mergers, acquisitions, and industry investments.

Regional Analysis: Providing an overview of market revenue, sales, and shares across major regions and sub-regions, this segment also explores the pricing structure, sales growth rate, and other crucial estimations.

Company Profiles: This section provides strategic business insights about key firms operating within the market landscape. It covers product specifications, revenue shares, and portfolios of these major companies.

The Analysis Objectives of the Report are:

To determine the size of the Market by identifying its sub-segments.

To research the key players and analyze their growth strategies.

To assess the size and value of the Market based on key regions.

To analyze the Market in terms of growth trends, potential, and participation in the overall sector.

To investigate the Market size (volume and value) from the company, key regions/countries, goods and applications, and background data.

Primary Market manufacturers to specify, clarify, and analyze the product sales volume, value, market share, market rivalry landscape, SWOT analysis, and future development plans.

To investigate market competitive developments such as market expansions, agreements, new product launches, and acquisitions.

What is new in 2024?

– Major developments that can change the business landscape as well as market forecasts.

– Addition/refinement in segmentation–Increase in depth or width of segmentation of the market.

– Coverage of new market players and change in the market share of existing players of the market.

– Updated financial information and product portfolios of players operating in the market.

– Updated market developments of the profiled players.

– Any new data points/analysis (frameworks) which was not present in the previous version of the report

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