Global Bioplastics Market Forecast to 2030
The market size, revenue growth, and CAGR from 2022 to 2030 are all addressed in the Bioplastics Market analysis. The research also gives significant insights into the top market players, including SWOT analysis, Porter's Five Forces analysis, and feasibility analysis to give readers a competitive edge. The study focuses on the current epidemic's most recent trends, major challenges, opportunities, and limitations.
The global bioplastics market size was USD 10.64 Billion in 2021 and is expected to register a revenue CAGR of 16.8% over the forecast period, according to the latest analysis by Emergen Research. Increase in demand for bioplastics from the automotive industry and demand for compostable plastics to improve soil quality are factors expected to support revenue growth of the market between 2022 and 2030. The automotive industry's primary objective and challenge is to reduce fuel consumption and pollutants by reducing vehicle weight. Bioplastics are effective materials for achieving this purpose. These smart plastics, such as bio-PA and bio-PP, have been embraced by major vehicle manufacturers to reduce environmental impact and provide additional strength to automobile components. Thus, demand for these plastics in the automotive industry owing to their excellent properties is anticipated to create lucrative growth prospects for companies in the market.
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The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Bioplastics market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Companies Profiled in the Report are:
BASF SE, NatureWorks, Biome Plastics, Braskem, Biotec, Total Corbion, Plantic Technologies, Mitsubishi Chemical Holdings Corporation, Novamont SPA, and Toray Industries
Research Report on the Bioplastics Market Addresses the Following Key Questions:
- Who are the dominant players of the Bioplastics market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the Bioplastics market?
- What are the key growth drivers and restraining factors of the Bioplastics market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the Bioplastics market and its key segments?
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Some Key Highlights From the Report
- The biodegradable segment accounted for largest revenue share in 2021, owing to high demand from the packaging, textiles, agricultural, and consumer goods industries. These industries favor biodegradable varieties since they provide the required performance attributes while also being biologically sustainable. Biodegradable bioplastics have many advantages, including lower carbon footprint, less energy usage, eco-friendly disposable solutions, and recyclability. Moreover, biodegradable bioplastics aid in the monitoring of petroleum reserves.
- The packaging segment is expected to lead in terms of revenue growth rate during the forecast period. Increasing use of bioplastics in the production of compost bags, agricultural foils, nursery products, toys, horticultural items, and textiles is driving revenue growth of the segment. Bioplastics are also used in the manufacturing of clingfilm, disposable cups, plates, bowls, and food containers. Development of food-grade bioplastics has increased the shelf life of food products, which drives their demand and boosts revenue growth of the segment.
- The bioplastics market in Europe is expected to account for largest revenue share among other regional markets during the forecast period, due to the surging demand for bioplastics from several end-use industries such as packaging, textile, automotive transport, agriculture, medical, and construction, among others. The region is observing increased investment in RD and the rising production of bioplastics with producers focusing on expanding their production capacity to cater to consumers' growing demand. Besides, stringent regulatory norms to limit the use of synthetic polymer, in turn, would drive the demand for bioplastics.
- On 1 July 2021, Solvay completed its acquisition of Bayer's global seed coatings business. The acquisition will expand Solvay's existing seed care portfolio in bio-based, seed-applied treatments, and allows Bayer to reinvest.
Market Segmentations of the Bioplastics Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2022 and 2030. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Bioplastics market on the basis of product, application, and region:
Segments Covered in this report are:
- Type Outlook (Revenue, USD Billion; 2019-2030)
- Biodegradable
- Polybutylene Adipate Terephthalate (PBAT)
- Polybutylene Succinate (PBS)
- Polylactic Acid (PLA)
- Polyhydroxyalkanoate (PHA)
- Starch Blends
- Others
- Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)
- Online
- Offline
- Application Outlook (Revenue, USD Billion; 2019-2030)
- Packaging
- Textile
- Automotive Transportation
- Consumer Goods
- Agriculture
- Building Construction
- Others
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Regional Landscape section of the Bioplastics report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key reasons to buy the Global Bioplastics Market report:
- The latest report comprehensively studies the global Bioplastics market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
- The report offers an insightful analysis of the regional outlook of the market.
- It offers a detailed account of the end-use applications of the products services offered by this industry.
- The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
In conclusion, the Bioplastics Market report is an exhaustive database that will help readers formulate lucrative strategies. The Bioplastics Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.
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