The global Bioplastics & Biopolymers market is anticipated to increase at an impressive rate through 2028 due to the increasing demand from end-use such as packaging. In 2020, the consumption volume of plastic products in China grew by 12 percent.
Toxic chemical elements of plastic materials seep into beverages, food, and water when they are used over an extended period and exposed to high temperatures. As per the data released by the European Plastic Association, an estimated 8 million tonnes of plastic are dumped into the ocean each year, causing the marine habitat to deteriorate, and ultimately affecting aquatic life.
Growing Environmental Concerns and Driving Towards Sustainability.
Due to growing environmental concerns, the biodegradable plastics market is projected to improve throughout the forecast period. Banning single-use plastic is a revolution that has been gaining momentum for the past many months. Already, railways, airlines, hotels, and residential societies are waking up to cut down single-use plastic use to save the planet and the ocean from becoming more polluted.From 3 July 2021, single-use plastic plates, cutlery, straws, balloon sticks, and cotton buds cannot be placed on the markets of the EU Member States. Globally, consumer preferences are moving toward goods and producers that can provide products equipped with sustainable motives. India has banned the manufacture, sale, and use of identified single-use plastic items like plates, cups, straws, trays, and polystyrene from July 1, 2022. The industry will witness brands and manufacturers coming together to develop sustainable packaging solutions and build a circular economy.
Economic Benefits of Bioplastics & Biopolymers
To manufacture plastics, approximately 8% of crude oil is extracted. Bioplastics & Biopolymers can reduce expenditure on crude oil and electricity. According to a recent study, around 980 kg of recycled plastic saves 680 gallons of oil, nearly 5,700 kWh of electricity, and more than 28 cubic yards of landfill space. Furthermore, the price of recycled plastics is usually lower than that of its virgin counterpart. Swachh Pune, an informal waste management service in the City of Pune in India, achieves considerable plastic waste segregation and high recycling levels. It collects around 28,000 tons of plastic material annually, thereby diverting around 51% of the plastic waste in the city from landfills. Swachh Pune carries out plastic waste collection and recycling activities at a much lesser cost than conventional or formal mechanized and centralized waste management approaches. Waste pickers in the service save an estimated US$ 12.5 Mn each year in labor, transportation, waste collection & sorting equipment, and processing costs.
Increasing Demand for Electricity from Sustainable Sources Driving the Growth
Ongoing research and development operation worldwide is driving it to sustainable development to ensure optimum and sensible use of the resources. Europe is the biggest leader in terms of research and development on bioplastics and biopolymers. The turbine blades of wind energy are made from glass fiber yarn, making them stiff and lighter in weight. As the technology is emerging, there is a massive opportunity that Bioplastics & Biopolymers to acquire a significant market share.
Key Developments
- KW Plastics signed a long-term scrap supply contract with the North American division of Clean Planet Energy, a cleantech, renewable, and alternative energy company. The division is constructing a pyrolysis plant in Alabama, U.S. The agreement will help turn around 20,000 tons of plastic residue generated at the current KW Plastics facility in Alabama into environmentally friendly circular products rather than being sent to landfill.
- Japanese company Mitsui & Co. is in talks to build a bioplastics factory in the south-eastern U.S., creating one of the largest production sites worldwide for plant-based packaging material.
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Market Segmentation
The global Bioplastics & Biopolymers market is segmented based on Type, End-User Industry, Company, and Region. In terms of type, the Bioplastics & Biopolymers market is categorized into Non-Biodegradable and Biodegradable. Based on, End-User Industry, the market is divided into Bottles, Films, Fibres, Foams, and Others.
Market Players
BASF SE, Biome Bioplastics Limited, Arkema S.A., BIOTEC biologische Naturverpackungen GmbH & Co, NatureWorks LLC, Novamont S.p.A., TotalEnergies Corbion, Toray Industries, Inc., Mitsubishi Chemical Holdings Corporation and Plantic Technologies Ltd are some of the major market players.
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2022 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, Volume in tons, and CAGR for 2018-2022 and 2023-2028 |
| Report Coverage | Revenue forecast, Volume forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | Type End User Industry |
| Regional scope | North America; Asia Pacific; Europe; South America; Middle East & Africa |
| Country scope | United States; Canada; Mexico; China; India; Japan; Australia; South Korea; Germany; France; United Kingdom; Spain; Italy; Brazil; Argentina; Colombia; South Africa; UAE; Saudi Arabia; |
| Key companies profiled | BASF SE, Biome Bioplastics Limited, Arkema S.A., BIOTEC biologische Naturverpackungen GmbH & Co, NatureWorks LLC, Novamont S.p.A., TotalEnergies Corbion, Toray Industries, Inc., Mitsubishi Chemical Holdings Corporation and Plantic Technologies Ltd |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Report Scope:
In this report, global Bioplastics & Biopolymers market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Bioplastics & Biopolymers Market, By Type:
- Non-Biodegradable
- Biodegradable
- Bioplastics & Biopolymers Market, By Source:
- Packaging
- Consumer Goods
- Agriculture & Horticulture
- Textile
- Automotive & Transportation
- Others
- Global Bioplastics & Biopolymers Market, By region:
- North America
- United States
- Canada
- Mexico
- Asia-Pacific
- China
- India
- South Korea
- Australia
- Japan
- Europe
- Germany
- France
- United Kingdom
- Spain
- Italy
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- North America
- South Africa
- Saudi Arabia
- UAE
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Global Bioplastics & Biopolymers market