CHICAGO, April 16,
2024 /PRNewswire/ -- The report "Bioplastics &
Biopolymers Market by Product Type (Biodegradable,
Non-Biodegradable/ Bio-Based), End-Use Industry (Packaging,
Consumer Goods, Textiles, Agriculture & Horticulture, AnT,
Coatings & Adhesives), & Region- Global Forecast to
2029", was USD 15.3 billion in
2024 and is projected to reach USD 45.2
billion by 2029, at a CAGR of 24.2%, between 2024 and
2029.
Bioplastics are synthetic materials sourced from renewable
origins like corn, potatoes, rice, soy, sugarcane, wheat, and
vegetable oil, whereas biopolymers are polymers found naturally.
Bioplastics can either degrade naturally or not. They are primarily
classified into biodegradable and non-biodegradable categories and
are used across a wide range of industries including packaging,
consumer goods, automotive and transportation, agriculture and
horticulture, medical, and various other sectors.
Browse in-depth TOC on "Bioplastics & Biopolymers
Market"
261 – Tables
54 – Figures
318 –
Pages
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PBAT is estimated to be the second largest market in the
global bioplastics & biopolymers market, by product type,
during the forecast period, by Value.
PBAT (Polybutylene adipate terephthalate) is a biodegradable
polyester widely used in the production of bioplastics and
biopolymers. It offers excellent biodegradability in various
environments, including industrial composting facilities and
natural soil conditions. PBAT is commonly used as a component in
blends with other biodegradable polymers to improve mechanical
properties and enhance the overall performance of bioplastic
materials. Its versatility, along with its ability to break down
into environmentally friendly byproducts, makes PBAT a valuable
ingredient in the development of sustainable packaging,
agricultural films, disposable utensils, and other biodegradable
products. As the demand for eco-friendly alternatives to
traditional plastics grows, PBAT continues to play a crucial role
in advancing the bioplastics and biopolymers industry.
Sugarcane/Sugar beet to be the largest market in the global
bioplastics & biopolymers market during 2024 to 2029, by
value.
Sugarcane and sugar beet serve as vital sources of raw materials
for bioplastics and biopolymers, offering abundant stores of
fermentable sugars essential for producing eco-friendly plastics
like polylactic acid (PLA) and polyhydroxyalkanoates (PHA). Their
widespread cultivation globally provides a sustainable and
renewable feedstock for biopolymer manufacturing, without competing
with food crops for agricultural land. Additionally, their growth
contributes to carbon sequestration, enhancing the environmental
profile of bioplastics derived from these sources by mitigating
carbon emissions. Leveraging sugarcane and sugar beet underscores
the shift towards sustainable practices in the plastics industry,
promoting environmental stewardship and reducing reliance on fossil
fuels.
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Consumer goods is estimated to be the second-largest end-use
industry, in 2024.
Consumer goods encompasses a wide range of products including
packaging, disposable cutlery, bottles, bags, and various other
items used in everyday life. The demand for sustainable packaging
solutions is particularly high in the consumer goods industry due
to increasing environmental awareness among consumers and
regulatory pressures to reduce plastic waste. Bioplastics offer a
promising alternative as they are derived from renewable resources
and can be biodegradable, thereby addressing concerns related to
traditional plastics. As a result, many companies in the consumer
goods sector are incorporating bioplastics into their product
packaging and manufacturing processes to reduce their environmental
footprint and meet the evolving preferences of eco-conscious
consumers.
Europe accounted for third
largest region, by value, during the forecast period.
The bioplastics and biopolymers market in Europe is experiencing growth and innovation.
With increasing awareness of environmental issues and sustainable
practices, there's a notable emphasis on the adoption of
bioplastics derived from renewable sources. European countries are
investing in research and development to expand the application of
bioplastics across various industries including packaging, consumer
goods, automotive, agriculture, and more. Additionally, stringent
regulations and initiatives promoting the use of eco-friendly
materials are driving the demand for bioplastics and biopolymers in
the region. The key companies producing biodegradable plastics in
Europe include BASF (Germany), TotalEnergies Corbion PLA
(Netherlands), Biome Bioplastics
(UK), and Bio-On (Italy).
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)
are the key players in the bioplastics & biopolymers
market.
Browse Adjacent Market: Green Bio Chemicals Market
Research Reports & Consulting
Biodegradable Plastics Market - Global Forecast to
2028
Sustainable Plastic Packaging Market - Global Forecast
to 2025
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