Dublin, Oct. 12, 2022 (GLOBE NEWSWIRE) -- The "Bioplastics Market, Size, Share, Global Forecast 2022-2027, Industry Trends, Impact of COVID-19, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
Global Bioplastics Market is expected to reach US$ 9.9 Billion by 2027. Bioplastics have been regarded as a potential solution to address environmental and economic challenges in recent years. Bioplastics is a sustainable material from renewable feedstock and an alternative to petroleum-based plastics, reducing 30-70% of carbon dioxide emissions.
It represents an approximately 42% reduction of carbon footprints. Remarkably, bioplastics represent the fastest growing product line for bio-based products. Moreover, the adoption of bioplastics has increased tremendously across various applications, owing to the advanced technical properties and functionalities. Besides, the demand for bioplastics has gained incredible traction across multiple plastic applications due to the encouraging legislation implemented by various governments around the globe.
Worldwide Bioplastics Industry will expand with a CAGR of 6.7% during 2021-2027
Since the past decade, the demand for bioplastics has increased due to growing awareness concerning environmental conservation, bio-based or natural resources for manufacturing materials, and various regulations across countries for effective use of natural resources and waste management. Further, as an alternative to conventional fossil-based plastics, the use of biomass based-plastics is being promoted for applications wherein the former was generally utilized. Further, due to numerous agencies' stringent laws and legislation on the usage of non-renewable, single-use plastics, industries have deviated their focus on developing and utilizing bioplastics for innumerable purposes.
Bioplastics Packaging - An Integral Part of the Global Bioplastics Market's Application:
With the evolution of time, bioplastics have found their application in packaging, agriculture, consumer goods, textile, automotive and transportation, building and construction. Besides, bioplastic packaging has been of fundamental significance over the years. Recently, bioplastic packaging has become an integral part of the global bioplastic market's application. Bioplastics apply in various sectors, including fibers, medical, packaging, and agriculture. The rising consumer awareness towards bioplastic packaging has led to the tremendous growth of the overall market. In addition, eco-friendly initiatives by corporates and abundant availability of raw materials for manufacturing bioplastics are prominent factors driving growth for the global bioplastics market.
PLA to Pace Biodegradables:
Biodegradable plastics account for their majority application in the world bioplastics market. Excellent growth is forecast for the leading biodegradable plastics such as polylactic acid (PLA), which will pace its demand through 2021. As per the analysis, rapid growth for PLA is expected to benefit from advancements in compounding polymerization technology and it's relatively low cost compared to other bioplastics. Similarly, the fastest gains for biodegradable plastics will also be seen for polyhydroxyalkanoate (PHA) resins, which are just entering the commercial market.
Non-Biodegradable Polytrimethylene Terephthalate (PTT) to Lead Gains:
Despite the solid advances for biodegradables, non-biodegradable Polytrimethylene Terephthalate (PTT) will be the primary driver of bioplastics demand through 2021 and beyond. Majorly, gains will be fuelled by the industrial and residential carpet market. Polytrimethylene Terephthalate is used in the textile industry as it can be spun both in yarn and fibers. Also, PTT can be used in textiles and apparel, non-woven films, engineering thermoplastics, and monofilaments. Besides, PTT is used in carpets for the automotive market. Hence, this material finds apparel, home furnishing, and automobile upholstery applications. Remarkably, PTT composites and bio-composites can be significant opportunities for the market.
Asia-Pacific Is Well Positioned to Become A Global Bioplastics Hub:
Asia-Pacific is well-positioned to become a global bioplastics hub. The Asia-Pacific is a leading producer of the raw materials required for bioplastic synthesis and is well equipped with progressive technology and technical expertise through all phases of the supply chain. Consumers in the market have access to the industry, and a solid governmental supporting policy has been implemented to fuel growth in the bioplastic sector. Hence, all of these factors highlight Asia-Pacific's readiness to emerge as a global bioplastic hub.
Material Type - Global Bioplastics has been covered from 2 viewpoints:
1. Biodegradable
2. Non-Biodegradable
Biodegradable - Global Bioplastics has been covered from 6 viewpoints:
1. Polybutylene adipate Terephthalate (PBAT)
2. Polybutylene Succinate (PBS)
3. Polylactic Acid (PLA)
4. Polyhydroxyalkanoate (PHA)
5. Starch Blends
6. Others
Non-Biodegradable - Global Bioplastics has been covered from 6 viewpoints:
1. Polyethylene (PE)
2. Polyethylene terephthalate (PET)
3. Polyamide (PA)
4. Polypropylene (PP)
5. Polytrimethylene terephthalate) ( PTT)
6. Others
Applications - Global Bioplastics Market has been covered from 7 viewpoints:
1. Packaging
2. Agriculture
3. Consumer Goods
4. Textile
5. Automotive and Transportation
Region - Global Bioplastics Market has been covered from 4 viewpoints:
1. North America
2. Europe
3. Asia Pacific
4. Rest of the World
Key Topics Covered:
1. Introduction
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
5. Global Bioplastics Analysis
6. Market Share - Global Bioplastics Analysis
7. Volume Share - Global Bioplastics Analysis
8. Material Type - Global Bioplastics Market
9. Applications - Global Bioplastics Market
10. Regions - Global Bioplastics Market
11. Porters Five Forces
12. Company Analysis
Companies Mentioned
- Total Corbion (Netherlands)
- Mitsubishi Chemical Holding Corporation (Japan)
- Toray Industries (Japan)
- Biome Bioplastics (UK)
- Green Dot Bioplastics
For more information about this report visit https://www.researchandmarkets.com/r/577ow9
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