Global Bioplastics and Biopolymers Market

Bioplastics and Biopolymers Market Size, Share, Growth Analysis, By Application(Films, Bottles), By Type(Packaging, Consumer Goods) - Industry Forecast 2024-2031

Report ID: SQMIG15B2040 | Region: Global | Published Date: February, 2024
Pages: 282 | Tables: 70 | Figures: 77

Bioplastics and Biopolymers Market Insights

Bioplastics and Biopolymers Market size was valued at USD 9.67 billion in 2019 and is poised to grow from USD 11.5 billion in 2023 to USD 45.94 billion by 2031, growing at a CAGR of 18.9% in the forecast period (2024-2031).

Since they can dramatically lessen our reliance on fossil resources, which are significantly more damaging to the environment than bioplastics and biopolymers, bioplastics and biopolymers are gaining popularity. In the recent year, there has been major hype to reduce the pollution and create a safer environment. Therefore, scientists have done extensive research around damage control and created the bioplastics and biopolymers which are produced from renewable resources and degradable materials, which can reduce pollution in a real way.

One of the major generators of plastic & polymer waste was packaging. Therefore, in recent days, Industries are shifting from plastic packaging to bioplastic and biopolymers packaging.The development of such sophisticated packaging system for food products has greatly helped the shelf life of the food and it utility helps brand to connect with their customer by showing their consciousness towards the environment.Electronic waste are another major form of plastic waste which society striving to improve.This industry has made big strides in tackling its environmental impact, largely through producing more energy efficient devices and through more efficient recycling options.Bioplastics and biopolymers can be similar as that of the traditional plastics without modifying any machinery and can provide electronic industry with an excellent opportunity to improve their environmental credentials.

US Bioplastics and Biopolymers Market is poised to grow at a sustainable CAGR for the next forecast year.

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Bioplastics and Biopolymers Market size was valued at USD 9.67 billion in 2019 and is poised to grow from USD 11.5 billion in 2023 to USD 45.94 billion by 2031, growing at a CAGR of 18.9% in the forecast period (2024-2031).

Competition in the Bioplastics and Biopolymers market is expected to increase during the forecast period because new players are expected to enter in the market and the number of Products compatible with Bioplastics and Biopolymers will also increase. Currently, only a few key players are providing their services in the market but these numbers will increase in the upcoming years. 'BASF SE', 'NatureWorks LLC', 'Arkema SA', 'Braskem SA', 'Novamont SpA', 'DuPont de Nemours, Inc.', 'Corbion NV', 'Mitsubishi Chemical Holdings Corporation', 'Biome Bioplastics Limited', 'Eastman Chemical Company', 'Bio-On S.p.A.', 'Solvay SA', 'Total SE', 'Toray Industries, Inc.', 'Danimer Scientific, Inc.', 'Plantic Technologies Limited', 'Futerro SA', 'Kuraray Co., Ltd.', 'Innovia Films Limited', 'Cardia Bioplastics Limited', 'In March 2022, NatureWorks signed an agreement with ABB technology for automation of a new bioplastics plant in Thailand. The advancements are aimed at expanding production capacity of polylactic acid (PLA) to cater to the growing industry demand for sustainable materials.', 'In April 2022, Owner of the allegedly $100 million New Jersey deli, Hometown International, has consented to merge with Makamer, a producer of bioplastics. Your Hometown Deli in Paulsboro won't be run by the corporation that results from the merger, but a staff member there confirmed that the restaurant will stay open following the merger. It's unclear how the approximately 60 Hometown International shareholders will fare financially after the purchase.'

Consumers all across the globe are now aware of the side effects caused by plastics on the environment.The traditional plastics, which are mainly the part of society, requires a very long time to separate and degrade along with the time, and they lie in the landfill for significant time.Countering this problem, these biodegradable plastics and polymers are quickly separated and disposed and retained through recycling into normal framework. Moreover, the peace of the decay of biodegradable and biopolymer plastics.By the exercise of microorganism is far more swifter than the traditional plastics.

One of the major trends of bioplastics and biopolymer market is usage of starch piece products.To impart some level of biodegradability to the resulting composites, starch is generally incorporated into traditional plastics.The blends of the star are excellent biodegradable due to the several properties like thermal stability and low interference with the melt flow properties of most of the material.

Globally, North America is estimated to hold the largest Bioplastics and Biopolymers market share in 2021. Main factors during this growth period is the presence of top market players such as BASF SE,Corbion NV and others. Along with this extensive views of bioplastics and biopolymers in various Indus industry sectors is helping North America to dominate this market.

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Global Bioplastics and Biopolymers Market

Product ID: SQMIG15B2040