In recent years, there has been a significant surge in global awareness and concern about environmental sustainability. One sector that has gained immense attention is the plastics industry, which is notorious for its detrimental impact on ecosystems. In response to this, the development and adoption of bioplastics and biopolymers have emerged as promising alternatives. This article presents a comprehensive research overview of the bioplastics and biopolymers market, highlighting key trends, growth factors, challenges, and future prospects.
The bioplastics and biopolymers market encompasses a wide range of materials derived from renewable sources such as corn, sugarcane, and algae, as well as bio-based polymers synthesized through microbial fermentation and other processes. These materials exhibit similar properties to traditional plastics but offer the advantage of being biodegradable and compostable, thus reducing environmental harm. The global Bioplastics & Biopolymers Market Size is estimated at USD 11.5 billion in 2022 and is projected to reach USD 27.3 billion by 2027, at a CAGR of 18.9% between 2022 and 2027.
Browse 244 market data Tables and 42 Figures spread through 283 Pages and in-depth TOC on “Bioplastics & Biopolymers Market by Type (Biodegradable, Non-Biodegradable/ Bio-Based), End-Use Industry (Packaging, Consumer Goods, Textiles, Agriculture & Horticulture, Automotive & Transport, Coatings & Adhesives), & Region – Global Forecast to 2027”
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Key Trends and Drivers
Several trends are driving the growth of the bioplastics and biopolymers market. Firstly, stringent government regulations and policies aimed at reducing plastic waste and promoting sustainable practices have stimulated the demand for eco-friendly alternatives. Secondly, increasing consumer awareness about the ecological impact of plastics has led to a shift in preferences towards biodegradable and renewable materials. Moreover, advancements in technology have made the production of bioplastics and biopolymers more efficient and cost-effective, further fueling market growth.
Challenges and Opportunities
While the bioplastics and biopolymers market holds immense promise, it also faces several challenges. One major hurdle is the high cost of production compared to conventional plastics, limiting their widespread adoption. Additionally, the lack of standardized testing and certification processes for biodegradability and compostability poses a challenge for consumers and manufacturers. However, these challenges present opportunities for further research and development, cost reduction, and innovation in manufacturing processes.
In terms of value, PBAT are estimated to be the second largest market in the global bioplastics & biopolymers market, by product type, during the forecast period.
PBAT is marketed commercially as a fully biodegradable plastic. It has excellent biopolymer properties, such as high flexibility, good thermal stability, and a high degree of biodegradability. PBAT will be replacing LDPE; in mulch film application; the major application focus for most of the PBAT manufacturers is shopping bags due to stringent environmental regulations. PBAT has comparable tensile strength that makes it a good choice for carrying capacity in the application of shopping bags.
Sugarcane/Sugar beet to be the largest market in the global bioplastics & biopolymers market during 2022 to 2027
The sugarcane/sugar beet segment accounted for more than a quarter of the total market, in terms of volume, and is projected to register a CAGR of 19.3%during the forecast period. Bioplastics made from sugarcane ethanol have the same physical and chemical properties as regular plastic and maintain full recycling capabilities. The carbon footprint of sugarcane ethanol bioplastics is lower than traditional plastic because sugarcane absorbs CO2 from the air as it grows. Sugarcane-based bioplastics can be used to create bags, covers, tubes, films, wraps, and stretch films. A number of companies have started to switch to more environmentally friendly packaging.
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Consumer goods is estimated to be the second-largest end-use industry by value in 2022
The major consumer goods manufacturers are shifting their focus from traditional plastics to bioplastics & biopolymers to reduce the negative impact on the environment. Bioplastics & biopolymers are used for manufacturing consumer goods such as touchscreen computer casings, loudspeakers, mobile casings, and vacuum cleaners. Bioplastics are also used in manufacturing coffee pods, dinnerware, and many other consumer products used for household applications. Disposable housewares made from biodegradable plastics are replacing conventional plastics.
Europe accounted for third largest region, by value, during the forecast period
Europe accounts for a significant share in the bioplastics & biopolymers market due to the high consumer demand for sustainable packaging materials. The governments of the European countries are promoting the use of biodegradable plastics by setting up the infrastructure for composting of these plastics. The key companies producing biodegradable plastics in Europe include BASF (Germany), TotalEnergies Corbion PLA (Netherlands), Biome Bioplastics (UK), and Bio-On (Italy).
Market Players
Some of the key players in the global bioplastics & biopolymers market are NatureWorks LLC (US), Braskem (Brazil), BASF SE (Germany), TotalEnergies Corbion (Netherlands), Novamont S.P.A (Italy), Biome Bioplastics Limited (UK), Mitsubishi Chemical Group Corporation (Japan), Biotec Biologische Naturverpackungen GmbH & Co. (Germany), Plantic Technologies Limited (Australia), and Toray Industries, Inc. (Japan) and others.
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NatureWorks LLC is a global-leading biopolymers supplier and innovator. It is jointly owned by Cargill & PTT Global Chemical. It manufactures biopolymers derived from renewable resources such as corn, starch, and vegetable oils. The company’s product line includes 2 series for extrusion/ thermoforming, 3 series for injection molding, 4 series for films & cards, 6 series for fibers & nonwovens, and 3D series for 3D printing. The company serves beauty & household, building & construction, food service ware, electronics & appliances, food & beverage, landscape & agriculture, medical, and hygiene industry. The company operates in North America, Europe, Japan, and Asia Pacific. The manufacturing facilities are in Blair, Nebraska, and the USA and have capacity of 150,000 metric tons of Ingeo biopolymer.
Conclusion
The bioplastics and biopolymers market represents a significant step towards addressing the plastic waste crisis and achieving a more sustainable future. This research overview has provided insights into the market’s current state, key trends, challenges, and future prospects. With continued research, investment, and collaboration, the bioplastics and biopolymers industry has the potential to revolutionize the plastics market and contribute to a greener, cleaner planet.
