Bioplastics Market Revenues to Reach a Volume of 3,951.43 kilotons by 2028 - Market Volume, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence

Hyderabad, July 14, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Bioplastics Market Report (2023-2028)," the market volume is estimated at 1,783.16 kilotons in 2023. It is expected to register a CAGR of 17.25% during the forecast period.

Bioplastics refer to products that are created using renewable sources like straw, woodchips, vegetable fats, corn starch, and sawdust. During the COVID-19 pandemic, production halts adversely affected the bioplastics market.

Report Summary:

Report AttributeDetails
Market Volume (2023)1,783.16 kilotons
Market Volume (2028)3,951.43 kilotons
CAGR (2023-2028)17.25%
Study Period2018-2028
Fastest Growing MarketAsia-Pacific
Largest MarketEurope
Forecast UnitsVolume (kilotons)
Report ScopeMarket Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends
Key Market DriversRise in environmental issues encouraging the promotion of bioplastics.
Increase in the use of electronics.

Which are the Top Companies in the Bioplastics Market?

The bioplastics market is highly competitive and fragmented, with established players who have made substantial investments in products and manufacturing plants.

The most significant players in the global bioplastics market are:

  • Trinseo
  • Arkema
  • Braskem
  • Danimer Scientific
  • Rodenburg Biopolymers
  • Futerro
  • Indorama Ventures Public Company Limited
  • Minima
  • Natureworks LLC
  • Novamont SpA
  • Total Corbion PLA

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Key Highlights from the Bioplastics Market Report:

Flexible Packaging is Predicted to Dominate the Market

  • One of the primary uses of bioplastics is their application in flexible packaging, as they are not harm-free and are degradable in nature.
  • Bioplastics are used in packaging films for food items, beverage bottles and medicines. They are also used in packing non-food items like tissues, nappies, toilet paper and napkins.

Europe is Expected to Dominate the Market

  • The bioplastics market in Europe is witnessing rapid growth driven by the demand from France, the United Kingdom, Germany, and Italy.
  • In the year 2021, France produced around 13,51,308 units of vehicles which was about 3% higher than in 2020.

What are the Latest Developments in the Bioplastics Market?

  • In August 2022, BASF Venture Capital GmbH made an investment in Sea6 Energy Pvt. Ltd. BASF Venture Capital GmbH is a corporate venture company of BASF SE and Aqua-Spark.
  • In April 2022, MAGNUM BIO ABS was launched by Trinseo for automotive applications. This launch expanded the company’s sustainably advantaged portfolio and encouraged its efforts to meet its sustainability goals.

Mordor Intelligence has Segmented the Bioplastics Market Based on Type, Application, and Geography:

  • By Type (Market Size and Forecast based on Volume (kilotons), 2018-2028)
    • Bio-based Biodegradables
      • Starch-based
      • Polylactic Acid (PLA)
      • Polyhydroxy Alkanoates (PHA)
      • Polyesters (PBS, PBAT, and PCL)
      • Other Bio-based Biodegradables
    • Bio-based Non-biodegradables
      • Bio Polyethylene Terephthalate (PET)
      • Bio Polyethylene
      • Bio Polyamides
      • Polytrimethylene Terephthalate
      • Other Non-biodegradables
  • By Application (Market Size and Forecast based on Volume (kilotons), 2018-2028)
    • Flexible Packaging
    • Rigid Packaging
    • Automotive and Assembly Operations
    • Agriculture and Horticulture
    • Construction
    • Textiles
    • Electrical and Electronics
    • Other Applications
  • By Geography (Market Size and Forecast based on Volume (kilotons), 2018-2028)
    • Asia-Pacific
      • China
      • India
      • Japan
      • South Korea
      • Rest of Asia-Pacific
    • North America
      • United States
      • Canada
      • Mexico
    • Europe
      • Germany
      • United Kingdom
      • Italy
      • France
      • Rest of Europe
    • South America
      • Brazil
      • Argentina
      • Rest of South America
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of Middle East & Africa

In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the  Bioplastics Market Report (2023-2028).

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About Mordor Intelligence:

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Bioplastics Market - Mordor Intelligence

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