Bioplastics Market Research Report - Global Forecast till 2027

Global Bioplastics Market: Information by Type (Biodegradable, Non-Biodegradable), Application (Rigid Packaging, Flexible Packaging, Textile, Agriculture and Horticulture, Consumer Goods, Automotive, Electronics, Building and Construction and Others) - Forecast till 2027

ID: MRFR/CnM/1432-HCR | February 2021 | Region: Global | 140 pages

Market Overview:


 


The use of renewable sources like sugarcane, corn, sugar beet, wheat, vegetable oil, other cereals, cassava, lignocellulosic biomass, grains, and others in the production of the material is driving the global bioplastics market. The fact that under suitable conditions these substances can be completely broken down into carbon dioxide, compost, and water using microorganisms is making the market of these substances. The factors like usage of biodegradable plastics in the manufacturing of food packaging, shopping bags, disposables, and other packaging materials because of the excellent barrier properties of biodegradable plastics, rise in environmental pollution due to the use of synthetic or conventional plastics which cannot be recycled easily due to the emission of hazardous and harmful gases, disruption of aquatic ecosystem and degradation of water quality due to plastics disposal in water bodies, soil erosion due to faulty water harms the agricultural industry, and other effects are driving the market. 


 


However, with the high availability of substitutes for bioplastics, the industry has seen a toss. With conventional plastics available at a comparatively lower cost than bioplastics people intend to be pessimistic about the bioplastics. Lack of awareness especially in rural areas has also acted as one of the major restraints to the bioplastics industry.


 


The global bioplastic market was valued USD 6.48 billion and expected to register a CAGR of 10% to reach USD 11.68 billion by 2027.


 


COVID-19 Analysis:


 


Manufacturing activities, production activities, import-export, innovation, and other activities have been at a standstill since the outbreak of the global pandemic. With people subjected to work from home and only essential services being open many industries saw a loss in business, this was because of the state of lockdowns which were imposed locally and globally. This was major to contain the spread of the virus. With a decline in demand for plastic, the processing and production in the industry were taken aback. Many end-users like industrial equipment, transportation, automotive, consumer goods, electronics, and construction were a few of the highly affected industries. COVID-19 pandemic has caused major loss in terms of industry, economy, GDP, and above all the loss of human life and has activated a state of hunger in lower class and daily-wagers who have no means to feed their families.


 


Market Dynamics:


 


Drivers:


 


The factor majorly involved in driving the bioplastics market are the use of renewable sources like sugarcane, corn, sugar beet, wheat, vegetable oil, other cereals, cassava, lignocellulosic biomass, grains, and others in the production of the material. Other factors the drives the market are the usage of biodegradable plastics in the manufacturing of food packaging, shopping bags, disposables, and other packaging materials because of the excellent barrier properties of biodegradable plastics, rise in environmental pollution due to the use of synthetic or conventional plastics which cannot be recycled easily due to the emission of hazardous and harmful gases, disruption of the aquatic ecosystem and degradation of water quality due to plastics disposal in water bodies, soil erosion due to faulty water harms the agricultural industry and other effects.


 


Challenges:


 


With the high availability of substitutes for bioplastics, the industry has seen a toss. With conventional plastics available at a comparatively lower cost than bioplastics people intend to be pessimistic about the bioplastics. Lack of awareness especially in rural areas has also acted as one of the major restraints to the bioplastics industry.


 


Technology Analysis:


 


The use of renewable sources like sugarcane, corn, sugar beet, wheat, vegetable oil, other cereals, cassava, lignocellulosic biomass, grains, and others in the production of the material is driving the global bioplastics market. 


 


The global bioplastic market is segmented based on type as biodegradable bioplastics (starch blends, PBS (polybutylene succinate), PBAT (polybutyrate adipate terephthalate), polyhydroxyalkanoate (PHA), polylactic acid (PLA), and others), and non-biodegradable or partially bio-based bioplastics (polyethylene (PE), polyamide (PA), polyethylene terephthalate (PET), and others). Non-biodegradable is more durable and robust than fossil fuel plastics making them a perfect substitute for them and is gaining market for the production of films, carry bags, sheets, and others.


 


The factors like usage of biodegradable plastics in the manufacturing of food packaging, shopping bags, disposables, and other packaging materials because of the excellent barrier properties of biodegradable plastics, rise in environmental pollution due to the use of synthetic or conventional plastics which cannot be recycled easily due to the emission of hazardous and harmful gases, disruption of aquatic ecosystem and degradation of water quality due to plastics disposal in water bodies, soil erosion due to faulty water harms the agricultural industry, and other effects are driving the market. Many industries like flexible packaging, rigid packaging, textile, horticulture, agriculture, automotive, consumer goods, electronics, construction, building, and others are making use of bioplastics in abundance.


 


However, with the high availability of substitutes for bioplastics, the industry has seen a toss. With conventional plastics available at a comparatively lower cost than bioplastics people intend to be pessimistic about the bioplastics. Lack of awareness especially in rural areas has also acted as one of the major restraints to the bioplastics industry.


 


Study Objectives:


 


The objective of the global Bioplastics Market Research shares a comprehensive outlook on the market volume, market revenue, trade route analysis, regional analysis, value chain optimization, and technology analysis. A brief note on the regional, application, and product type segment is stated in the report and how COVID-19 has acted as a barrier towards the ongoing trend.


 


Segment Overview:


 


By Type:


 


The global bioplastic market is segmented based on type as biodegradable bioplastics (starch blends, PBS (polybutylene succinate), PBAT (polybutyrate adipate terephthalate), polyhydroxyalkanoate (PHA), polylactic acid (PLA), and others) and non-biodegradable bioplastics (polyethylene (PE), polyamide (PA), polyethylene terephthalate (PET), and others).


 


By Application:


 


The global bioplastic market is segmented based on application as flexible packaging, rigid packaging, textile, horticulture, agriculture, automotive, consumer goods, electronics, construction, building, and others.


 


Regional Analysis:


 


The global bioplastic market is segmented based on region as:



  • Asia-Pacific

  • North America

  • Europe

  • Latin America

  • The Middle East 

  • Africa


 


With a market share of 33.7% as per the market share analysis compiled in 2019, The European region was accounted to be the market-dominant in the global bioplastic market. This dominance in the market was because of the maintenance of stringent regulatory standards of synthetic chemicals and the high cost of production.


 


With a total market share of 34.4% as per the market share analysis compiled in 2018 Asia-Pacific region was the largest shareholder of the global bioplastic market in terms of size and volume of the market. This rise was major because of low production cost, low labor cost, rapid industrialization and urbanization in the economies of developing countries like India, Japan, and China, and awareness of the bio-based chemicals and their advantages. 


 


With a ban on the usage of conventional plastics, The North American market has emerged as the third-largest market shareholder. But, because of a lack of awareness within people of Latin America, The Middle East, and Africa, the market might experience sluggish growth during the forecast period.


 


Competitive Landscape:


 


The Competitive Landscape of the global bioplastic market shares a brief analysis on the global presence of the key vendors, production facilities, strategies followed by the market players, new product launches, investment in the department of research, innovations, and developments in the field, market share, volume-wise analysis, production sites, and others.


 


The Intended Audience of the global bioplastic market includes traders of bioplastic, manufacturers of bioplastic, distributors of bioplastic, producers of bioplastic, nationalized laboratories, raw material suppliers, research organizations, consultancy firms, and development organizations.


 


The prominent market vendors of the global bioplastic market include Braskem (Brazil), NatureWorks (US), Novamont (Italy), Plantic Technologies (Australia), Biome Bioplastics (UK), Total Corbion PLA (The Netherlands), Bio-On (Italy), Toray Industries (Japan), BASF (Germany), and Mitsubishi Chemical Corporation (Japan).


 


Recent Developments:


 



  • In November 2019, Genpak partnered with Danimer Scientific to manufacture biodegradable food containers as a new product line with Nodax polyhydroxyalkanoate (PHA) being the major component because of the advance mechanical and physical properties which give incredible barrier properties.

  • In June 2019, Athletica Nutrition partnered with Braskem to launch green plastic as the campaign supported by Best Vegan Packaging name to reduce environmental pollution.

  • In June 2015, PlantBottle technology was introduced by Coca-Cola that made use of terephthalic acid extracted from petrochemicals and bio-based monoethylene glycol extracted from sugarcane to manufacture a comparatively smarter PET which helped the company reduce the value of carbon footprint on the globe.


 


Report Overview:


 


The report shares an extensive qualitative structure analysis and quantitative structure analysis on the global bioplastic market and the factors that can lead to future market growth. The report estimates the revenue and CAGR the market might make during the forecast year. The report briefs about the significant segments based on product type, application, region, key vendors, and their partnerships that have benefitted the world. The report also briefs on the market value chain analysis depending on the trading, manufacturing, distributing, and import-export within the countries and globally.



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 11.68 Billion (2027)
  CAGR   CAGR of 10% (2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   by Type, Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Braskem (Brazil), Total Corbion PLA (The Netherlands), NatureWorks (US), Bio-On (Italy), Novamont (Italy), Toray Industries (Japan), Plantic Technologies (Australia), BASF (Germany), Biome Bioplastics (UK), Mitsubishi Chemical Corporation (Japan)
  Key Market Opportunities   Imposition of ban on the use of conventional plastics
  Key Market Drivers

  • Low production and labor cost
  • Rapid industrialization in emerging economies
  • Growing awareness regarding the advantages of bio-based chemicals


  • Frequently Asked Questions (FAQ) :


    The global bioplastic market is expected to register a CAGR of 10% by the end of the forecast year 2023.

    The global bioplastic market is segmented based on application as flexible packaging, rigid packaging, textile, horticulture, agriculture, automotive, consumer goods, electronics, construction, building, and others.

    With a total market share of 34.4% as per the market share analysis compiled in 2018 Asia-Pacific region was the largest shareholder of the global bioplastic market in terms of size and volume of the market.

    With a market share of 33.7% as per the market share analysis compiled in 2019, The European region was accounted to be the market-dominant in the global bioplastic market.