Bioplastics Market by Raw Material (Aliphatic Polyesters, Cellulose-Based, Starch-Based), Degradability (Biodegradable, Compostable, Degradable), Processing Method, End-User - Global Forecast 2024-2030

Bioplastics Market by Raw Material (Aliphatic Polyesters, Cellulose-Based, Starch-Based), Degradability (Biodegradable, Compostable, Degradable), Processing Method, End-User - Global Forecast 2024-2030

The Bioplastics Market size was estimated at USD 14.10 billion in 2023 and expected to reach USD 15.94 billion in 2024, at a CAGR 13.25% to reach USD 33.72 billion by 2030.

Bioplastics are materials derived from renewable sources such as plants, microorganisms, and agricultural waste that can function as alternatives to conventional plastics produced from fossil fuels. They exhibit similar properties to traditional plastics regarding flexibility, durability, and lightweight performance, making them suitable for various applications in packaging, automotive components, electronics, agriculture, and medical devices. Increasing environmental concerns and stricter regulations regarding plastic waste disposal have led to a higher demand for eco-friendly alternatives such as bioplastics. Rising public awareness about using sustainable products also drives the adoption of bioplastics. However, the production cost of bioplastics is higher than that of conventional plastics due to feedstock prices, economies of scale, and investment in research & development. Moreover, the development of new application areas for bioplastics and research to develop high-performance biopolymers with enhanced properties can broaden their adoption across various industries.

Regional Insights

The bioplastic market is evolving in the Americas with a strong focus on sustainability and reducing plastic pollution and investments in research and development (R&D) for innovative bioplastic solutions. The Europe, Middle East, and Africa region exhibits a varied landscape for bioplastics development owing to the efforts towards a circular economy by implementing policies and introducing legislation encouraging innovation in bioplastics. Africa, though currently having a small share of the global bioplastics market, offers considerable growth potential due to increasing consumer awareness of environmental concerns and regional governments' policy initiatives against single-use plastics. The Asia Pacific region is witnessing rapid bioplastic advancements, primarily owing to the focus on reducing plastic waste, leading to growing demand for biodegradable materials. Besides, ongoing 3D printing of bioplastics and expanding applications in healthcare are anticipated to boost the demand for bioplastics worldwide.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Bioplastics Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Rising environmental concerns and need for bio-based packaging solutions
• Growing government regulations and policies to encourage use of bioplastics
• Increasing use of bioplastics in the agriculture and textile industry

Market Restraints

• High cost and performance limitations of bioplastics & biopolymers

Market Opportunities

• Ongoing R&D to improve performance of bioplastics coupled with utilization of 3D printing technology
• Increasing application areas of bioplastics in healthcare

Market Challenges

• Concerns associated with segregation and processing of bioplastics

Market Segmentation Analysis

• Raw Material: Proliferating demand for cellulose-based bioplastics
• Degradability: Significant penetration of compostable bioplastics
• Processing Method: Growing popularity of injection molding in bioplastic manufacturing
• End-User: Expanding applications of bioplastics in healthcare

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Bioplastics Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Bioplastics Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Sulzer Signs Agreement with Jindan New Biomaterials in China for Production of Biobased Plastic

Sulzer and Jindan have joined forces in a collaborative effort to produce biodegradable bioplastics. Their partnership is driven by the goal of developing recyclable and compostable bioplastics. By combining Sulzer's expertise in polymer technology with Jindan's advanced materials, they aim to increase the availability of sustainable plastic solutions for various applications.

Amazon Invests in Female-Led Bioplastics Company

Amazon has invested in Genecis, a bioplastics company, which offers an environmentally friendly alternative to traditional plastic. Genecis utilizes a biotechnological process that converts food waste into bioplastic. This investment empowers Amazon to drive sustainable practices and reduce its carbon footprint. By supporting Genecis, Amazon strengthens its commitment to promoting a greener future.

CBD Global Sciences to Acquire Pure BioPlastics

CBD Global Sciences, Inc. entered into a binding letter of intent to acquire Pure Bioplastics Inc. This strategic acquisition will significantly enhance Global Sciences' capabilities in the bioplastics sector. This move underscores Global Sciences' dedication to sustainable and environmentally friendly solutions as bioplastics continue to gain prominence in the market.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Bioplastics Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Bioplastics Market, highlighting leading vendors and their innovative profiles. These include Arkema S.A., Avantium N.V, BASF SE, Bewi Group, Bio-on S.p.A., Biome Bioplastics Limited, Braskem SA, Carbios, Celanese Corporation, Clondalkin Group Holdings B.V., Danimer Scientific, Eastman Chemical Company, FKuR Kunststoff GmbH, GC International by PTT Global Chemical PLC, Good Natured Products Inc., Green Dot Bioplastics Inc., Ilkwang Polymer Co.,Ltd., Kuraray Co., Ltd., Mitsubishi Chemical Corporation, Natur-Tec by Northern Technologies International Corporation, NatureWorks LLC, Neste Oyj, Novamont SpA, Plantic Technologies Ltd., Roquette Frères, TianAn Biologic Materials Co., Ltd., Toray Industries Inc., TotalEnergies Corbion BV, and UrthPact, LLC.

Market Segmentation & Coverage

This research report categorizes the Bioplastics Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Raw Material
• Aliphatic Polyesters
• Cellulose-Based
• Starch-Based
• Sugarcane-Based
• Degradability
• Biodegradable
• Compostable
• Degradable
• Processing Method
• Extrusion
• Injection Molding
• End-User
• Agriculture
• Automotive
• Consumer Goods
• Healthcare
• Packaging
• Textile

Region

• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

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