Dublin–(business wire)–“Bioplastics Market, Size, Share, Global Forecast 2022-2027, Industry Trends, Impact of COVID-19, Opportunity Company Analysis” report added of ResearchAndMarkets.com Recruitment.
The global bioplastics market is expected to reach USD 9.9 billion by 2027. Bioplastics have been viewed as a potential solution to address environmental and economic challenges in recent years. Bioplastics are sustainable materials derived from renewable raw materials that can replace petroleum-based plastics and reduce carbon footprint by 30-70%.
This equates to approximately a 42% reduction in carbon footprint. Surprisingly, bioplastics represent the fastest growing product line of biobased products. Moreover, the adoption of bioplastics has increased significantly in various applications due to their advanced technical properties and functionality. Moreover, the demand for bioplastics has gained incredible traction across multiple plastic applications due to encouraging legislation implemented by various governments around the world.
Global Bioplastics Industry Will Expand at a CAGR of 6.7% Between 2021 and 2027
Since the last decade, the demand for bioplastics has increased due to increased awareness of environmental protection, bio-based or natural resources in manufacturing materials, and various regulations in different countries for effective utilization of natural resources and waste management. . In addition, as an alternative to conventional fossil plastics, the use of biomass plastics is being promoted for applications where biomass plastics were generally used. Additionally, due to the strict laws and regulations of many institutions regarding the use of non-renewable single-use plastics, the industry is not focused on the development and utilization of bioplastics for myriad purposes.
Bioplastic Packaging – An integral part of the global bioplastic market applications:
Over time, bioplastics have found applications in packaging, agriculture, consumer goods, textiles, automotive and transportation, building and construction. Besides, bioplastic packaging has been of fundamental importance for many years.Recently, bioplastic packaging has become an integral part of the application of the global bioplastic market. Bioplastics are applied in various fields such as textiles, medicine, packaging and agriculture. Growing consumer awareness of bio-plastic packaging has led to tremendous growth in the overall market. In addition, eco-friendly initiatives by companies and abundant availability of raw materials for producing bioplastics are prominent factors driving the growth of the global bioplastics market.
PLA to Pace Biodegradability:
Biodegradable plastics make up the majority of applications in the global bioplastics market. Strong growth is projected for key biodegradable plastics such as polylactic acid (PLA), with demand projected to increase through 2021. Analyzes show that the rapid growth of PLA is expected to benefit from advances in compounding polymerization technology, with relatively low cost in comparison. to other bioplastics. Similarly, the fastest gains in biodegradable plastics are seen in polyhydroxyalkanoate (PHA) resins, which have just entered the commercial market.
Non-Biodegradable Polytrimethylene Terephthalate (PTT) Leads Benefits:
Despite steady advances in biodegradable materials, non-biodegradable polytrimethylene terephthalate (PTT) will be the main driver of bioplastic demand in 2021 and beyond. Profits are primarily driven by the industrial and residential carpet markets. Polytrimethylene terephthalate is used in the textile industry because it can be spun into both yarns and fibers. PTT can also be used in textiles and apparel, nonwoven films, engineering thermoplastics, and monofilaments. PTT is also used in carpets for the automotive market. Therefore, this material is used in apparel, home furnishings, and automotive upholstery applications. Surprisingly, PTT composites and biocomposites could represent a huge opportunity 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 region is a major producer of the raw materials required for the synthesis of bioplastics and is well equipped with progressive technology and technical expertise throughout all stages of the supply he chain. Market consumers have access to the industry and strong government supportive policies are in place to promote the growth of the bioplastics sector. All these factors therefore indicate that the Asia-Pacific region is poised to emerge as a global bioplastics hub.
Material Type – Global Bioplastics is covered from two perspectives.
1. Biodegradable
2. Non-biodegradable
Biodegradable – Global Bioplastics is covered from six perspectives.
1. Polybutylene adipate terephthalate (PBAT)
2. Polybutylene succinate (PBS)
3. Polylactic acid (PLA)
4. Polyhydroxyalkanoate (PHA)
5. Starch Blend
6. Miscellaneous
Non-biodegradable – Global Bioplastics is covered from six perspectives.
1. Polyethylene (PE)
2. Polyethylene terephthalate (PET)
3. Polyamide (PA)
4. Polypropylene (PP)
5. Polytrimethylene terephthalate) (PTT)
6. Miscellaneous
Applications – The global bioplastics market is covered from seven perspectives.
1. Packaging
2. Agriculture
3. Consumer Goods
4. Textile
5. Automobiles and transportation
Regional – The global bioplastics market is covered from four perspectives.
1. North America
2. Europe
3. Asia Pacific
4. Rest of the world
Main topics:
1.First of all
2. Research and methodology
3. Abstract
4. Market dynamics
5. Global bioplastic analysis
6. Market Share – Global Bioplastics Analysis
7. Volume Share – Global Bioplastics Analysis
8. Material Type – Global Bioplastics Market
9. Application – Global Bioplastics Market
10. Regions – Global bioplastics market
11. Porters Five Force
12. Company Analysis
companies mentioned
-
Total Corbion (Netherlands)
-
Mitsubishi Chemical Holdings Corporation (Japan)
-
Toray (Japan)
-
Biome Bioplastics (UK)
-
green dot bioplastic
For more information on this report, please visit https://www.researchandmarkets.com/r/kkh4jq.
