Bioplastics & Biopolymers Market size was estimated at USD 13.6 billion in 2023 and is projected to reach USD 46.1 billion in 2030 at a CAGR of 19.1% during the forecast period 2023-2030.
Bioplastics are made from human and animal waste, plant products and agricultural waste, which are then recycled and used to make new products using the latest technology. Bioplastics and biopolymers are widely used in the packaging industry. Therefore, bio-based raw materials such as starch and plant by-products are used to meet strict government environmental regulations.
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Moldable plastic made from chemical compounds derived or synthesized by microbes such as bacteria or genetically modified plants. Bioplastic is a durable plastic made from bio-based materials such as sugar, algae and starch. Biopolymers are a broad class of materials that include, in addition to bioplastics, natural polymers such as silk, chitosan and wool. Examples of biopolymers are natural gums (isoprene polymers), suberin and lignin (complex polyphenolic polymers), cutin and cutan (complex polymers of long-chain fatty acids), and melanin.
The type segment is further fragmented into Biodegradable, Non-Biodegradable and Others. The Starch based segment under the biodegradable segment is expected to account for a larger market size during the forecast period. Starch is usually added to conventional plastics to give the resulting compounds some degree of biodegradability. Starch blends are excellent biodegradable fillers due to the poor thermal stability and melting properties of most materials.
Bioplastics & Biopolymers Market Key Competitors:
· Arctic Biomaterials
· Avantium
· BASF SE
· Biome Bioplastics Ltd.
· Bio-On
· Biotec
· Braskem SE
· Cardia Bioplastics
· Corbion
· Futerro
· Green Dot Bioplasics
· Ineos Styrolution
· LyondellBasell
· Mitsbushi Chemical Group Corporation
· Natureworks LLC
· Novamont SPA
· Plantic Technologies
· SABIC
· Solvay
· Teijin Ltd. and More
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Regional Level Scope
· North America,
· Europe,
· Asia-Pacific,
· South America, and
· Middle East, and Africa
Recent Developments:
· In November 2022, TotalEnergies Corbion announced a long-term collaboration with BGF. Both companies entered into arrangement for application development and the supply of Luminy PLA.
· In October 2022, Braskem announced to expand its I'm greenTM biopolymer production capacity by 30%. The company is investing USD 60 million to expand the capacity. Brakem and SC chemicals are the partners for the project. This partnership helps to double the current capacity for I'm greenTM products.
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· Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
· In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
In addition to the market data for the Bioplastics & Biopolymers Market, Delvens offers client-centric reports customized according to the company’s specific demand and requirements.
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