Dublin, Feb. 10, 2023 (GLOBE NEWSWIRE) -- The "Global Bioplastics & Biopolymers Market by Type (Biodegradable, Non-Biodegradable/ Bio-Based), End-Use Industry (Packaging, Consumer Goods, Textiles, Agriculture & Horticulture, Automotive & Transport, Coatings & Adhesives), & Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global market size of bioplastics & biopolymers was USD 11.5 billion in 2022 and is projected to reach USD 27.3 billion by 2027, at a CAGR of 18.9%, during the same period.
The key drivers of the bioplastics & biopolymers market are the increased use of bioplastics in the packaging end-use industry, increased focus of government on green procurement policies and regulations.
In terms of value, PHA in biodegradable type accounts for the fastest-growing segment in bioplastics & biopolymers market, by product type, during the forecast period
PHAs are known for their superior high-temperature performance that enables their application in a wide variety of end-use industries like packaging, medical consumer goods.
Manufacturers like Tepha-Flex, one of the major players use PHA for biomedical applications such as surgical sutures, surgical mesh, and surgical films, are focusing on the further development of devices for anterior cruciate ligament repair, etc.
In terms of value, cassava is estimated to be second-growing segment in bioplastics & biopolymers market, by raw material, during the forecast period
Cassava is a cheap and common root vegetable across Indonesia and a promising raw material for the development of bioplastics. Bioplastics made from Cassava starch are as tough as traditional plastics made of petroleum. It is biodegradable and compostable. It can break down over a period of months on land or at sea. Cassava bioplastics can be used for food packaging or carrier bags.
In terms of value, agriculture & horticulture is estimated to be fastest-growing segment in bioplastics & biopolymers market, by end use, during the forecast period
Biopolymers offer specific advantages, such as biodegradability and biobased content, making them a preferable choice in agriculture. Farmers have been using PBAT and PBS mulch films to improve crop productivity and soil quality. These polymers are also used in the cultivation, harvesting, and processing of agricultural products.
North America region accounted for the second-fastest growing segment in the bioplastics & biopolymers market by value
North America is the second-largest bioplastics & biopolymers market in terms of value, in 2021. The countries in the region have already started implementing new regulations that promote the wide use of bioplastic materials. However, the progress is hindered due to weak and unclear enforcement guidelines from the governments.
Bioplastics are used in various industries such as packaging & bags (food and paramedical packaging), consumer goods, agriculture & horticulture (landfill, soil control, and mulch), textile (fabric processing), and others (biomedical, automotive, and building & construction) in the North American region.
Competitive landscape
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.
Key Metrics
| Report Attribute | Details |
| No. of Pages | 274 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $11.5 Billion |
| Forecasted Market Value (USD) by 2027 | $27.3 Billion |
| Compound Annual Growth Rate | 18.9% |
| Regions Covered | Global |
Premium Insights
- Asia-Pacific to Offer Attractive Opportunities to Bioplastics & Biopolymers Players
- Biodegradable Bioplastics & Biopolymers to Lead Market During Forecast Period
- Agriculture & Horticulture to be Fastest-Growing End-Use Industry During Forecast Period
- Packaging Industry and China Accounted for Largest Market Shares
Market Dynamics
Drivers
- Shift in Consumer Preference Toward Bio-Based Plastics
- Increasing Use in Packaging and Compostable Applications
- Increase in Waste Management in Europe
- Government Focus on Green Procurement Policies & Regulations
- Increased Focus on Bio-Based Content Over Biodegradability
Restraints
- Performance Issue of Bioplastics
- Higher Prices of Biodegradable Plastics Than That of Their Alternatives
Opportunities
- Development of Newer Applications
- High Potential in Emerging Economies
Challenges
- Segregation and Processing of Bioplastics
- Fluctuating Oil Prices Create Volatility in Demand for Biodegradable Plastics
- Expensive and Complex Production Process
Patent Analysis
- Methodology
- Document Type
- Publication Trends - Last 10 Years
- Insights
- Jurisdiction Analysis
- Top 10 Companies/Applicants
- Patents by Casio Computer Co. Ltd.
- Patents by Allegheny Singer Res. Inst.
- Patents by Univ. Carnegie Mellon
- Top 10 Patent Owners in Last 10 Years
Value Chain Analysis
- Raw Material Suppliers
- Manufacturers
- Distributors
- End-Use Industry
Raw Material Analysis
- Sugarcane/Sugar Beet
- Corn Starch
- Potato
- Vegetable Oil
- Switchgrass
Technology Analysis
- Pha Biodegradable Plastics
- Biopolymers Made from Microorganisms
- Bioplastics Made from Fish Scales
- Bioplastics Made from Red Fruit
- Bioplastics Made from Olive Pits
- Recyclable Bioplastics Made from Lobster Shells
Case Study Analysis
- Natureworks LLC
- Natureworks LLC
- Fkur Kunststoff GmbH
Company Profiles
Key Players
- Natureworks LLC
- Braskem Se
- Basf Se
- Totalenergies Corbion
- Novamont Spa
- Biome Bioplastics Ltd.
- Mitsubishi Chemical Group Corporation
- Biotec
- Plantic Technologies
- Toray Industries
Other Players
- Lyondellbasell
- Fkur Kunststoff GmbH
- Avantium
- Lotte Fine Chemical Ltd.
- Green Dot Bioplastics
- Sabic
- Cardia Bioplastics
- Ineos Styrolution
- Kingfa Sci. Co. Ltd.
- Bio-On
- Jin Hui Zhao Long High Technology Co. Ltd.
- Teknor Apex
- Parsa Polymer Sharif
- Kaneka Corporation
- Arctic Biomaterials
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