Starch-Based Plastics Market Research Report: Information By Type (Thermoplastic Starch and Starch Polymer Blends), End Use (Automotive and Transportation, Agriculture, Packaging, Consumer Goods and Others) and Region - Forecast till 2030

Starch-Based Plastics Market Overview

Global Starch-Based Plastics Market is expected to register a CAGR of 9.2% to reach around USD 2,353 Million by the end of 2027. Starch-based plastics are complex blends of starch with biodegradable or compostable plastics such as polylactic acid, polybutylene adipate terephthalate, polybutylene succinate, polycaprolactone, and polyhydroxyalkanoates. They exhibit various properties such as excellent water resistance and processing and mechanical properties. Furthermore, they can accommodate a wide range of physical properties such as tensile strength and heat tolerance. Hence, it is widely used as an alternative to traditional plastics. Some of the end use applications of starch-based plastics include automotive and transportation, agriculture, packaging, and consumer goods.

Market Dynamics

Global Starch-Based Plastics Market is projected to witness healthy growth registering a CAGR of 9.2% during the forecast period, 2020–2027. The prominent factor driving the growth of the global market is the increasing demand for starch-based plastics in food packaging. Starch-based polymers find applications in food packaging and edible films due to their extensive properties such as increased shelf life, reduced food loss, and enhanced organoleptic characteristics of food. Stringent environmental regulations over traditional plastic materials also fuel the growth of the global market. However, the limited production capacity and hydrophilic nature of starch-based plastics hamper the growth of the market. Furthermore, the increasing demand from emerging economies of Asia-Pacific, the advancements in technology, and heavy investments in R&D by key players are likely to fuel the growth of the global starch-based plastics market in the coming future.

Global Starch-Based Plastics Market, By Resin, 2019 (USD Million)

Sources: MRFR Analysis

Segmentation

Global Starch-Based Plastics Market has been segmented by Type, End-Use, and Region.

Based on type, the global starch-based plastics market has been segmented into thermoplastic starch and starch polymer blends. The thermoplastic starch segment holds the largest market share of over 50% and is expected to register a CAGR of around 9% between 2020-2027. The growth is mainly attributed to its processability, which is similar to the thermoplastics with shear and temperature. Furthermore, the starch polymer blends segment is expected to witness the fastest growth of around 9.5% to reach over USD 1,500 million by 2027.

The global starch-based plastics market has a broad range of end uses. Based on end use, the starch-based plastics market is segmented into automotive & transportation, agriculture, packaging, consumer goods, and others. The packaging segment is anticipated to account for the largest share of around 60% in the global market and is expected to register a CAGR of around 9.5% from 2020 to 2027. Furthermore, it is also expected to be the fastest-growing segment during the forecast period due to widespread usage in the food packaging industry in the production of bottles, carrier bags, disposable foam dishes and trays, cups, and biodegradable films.

Global Starch-Based Plastics Market Share, By Region, 2019 (%)

Sources: MRFR Analysis

Regional Analysis

Global Starch-Based Plastics Market has been divided, based on region, into Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.

Europe accounts for the largest share of around 50% in 2019 in the global starch-based plastics market owing to the stringent implications of government policies on reducing carbon footprint and the presence of advanced research and development facilities. Germany accounted for the largest share in Europe in 2019, followed by France and the UK. The regional market was valued at over USD 700 million in 2019 and is expected to register moderate growth with a CAGR of ~9% throughout the forecast period.

Asia-Pacific was the second-largest market with a market share of around 20% in 2019 in the global starch-based plastics market. The growth of the regional market can be attributed to the growing urbanization and increasing industrialization in the developing economies of Asia-Pacific, particularly in India and other South East Asian countries. China is the leading producer of starch-based plastics in Asia-Pacific. The regional market has registered the fastest growth with a CAGR of ~11% between 2020 to 2027 and is expected to reach a value of over USD 500 million by 2027 end.

North America accounts for around 8% of the global share and is expected to register a CAGR of about 9.5%. The growth in the region is mainly attributed to the established presence of major end use industries and the presence of advanced technologies. The regional market was valued at around USD 250 million in 2019 and is expected to reach around USD 400 million over the forecast period. The starch-based plastics market in Latin America and the Middle East & Africa has witnessed notable growth over the forecast period. This growth is attributed to the increasing industrial industrialization in the regions, coupled with the rising per capita disposable incomes of the consumers.

Key Players

AGRANA BETEILIGUNGS AG (Austria), Kuraray Co. Ltd. (Japan), Rodenburg Biopolymers (The Netherlands), Biome Bioplastics Limited (UK), Wittenburg Group (Flevoland), Nihon Cornstarch Corporation (Tokyo), Toray Industries, Inc. (Japan), Corbion N.V. (Netherlands), Novamont S.p.A (Italy), BIOTEC GmbH & Co (Germany), BioLogiQ (US), Grabio Greentech (Taiwan), Sunar NP (Turkey), Cardia Bioplastics (Austria), Multibax Public Co. (Thailand), and FuturaMat (France) are the key players in the global starch-based plastics market.

The global starch-based plastics market is characterized by the presence of many global, regional, and local vendors. The market is highly fragmented, with all the players competing to gain maximum market share. Rapid advancements in processes, expansion in production capacity, and growing applications of starch-based plastics in end use industries are some of the key factors fueling the growth of the market. The players operating in the global starch-based plastics market are adopting various strategies such as mergers & acquisitions, product launches, joint ventures, and expansion to maintain the position and increase the geographic presence. The expansion was the most widely employed growth strategy amongst many market players to capture maximum market share. For instance,

Market Segmentation

Global Starch-based Plastics Market, By Type  

• Thermoplastic Starch


• Starch Polymer Blends

Global Starch-based Plastics Market, By End-use

• Automotive and Transportation


• Agriculture


• Packaging


• Consumer Goods


• Others

Global Starch-based Plastics Market, By Region

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • Russia
  
  
  • Italy
  
  
  • France
  
  
  • Spain
  
  
  • UK
  
  
  • BENELUX
  
  
  • Poland
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • South Korea
  
  
  • Indonesia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Latin America
  
  
  
  • Mexico
  
  
  • Brazil
  
  
  • Argentina
  
  
  • Rest of Latin America
  
  
  
  


• Middle East & Africa
  
  
  
  • GCC Countries
  
  
  • South Africa
  
  
  • Rest of Middle East & Africa
  
  
  
  

Available Additional Customizations

• Company Profiles of Other Key Players


• Regulatory Framework of General Chemicals


• Raw Material Pricing Analysis


• Pricing Analysis

Intended Audience

• Starch-Based Plastics Manufacturers


• Suppliers and Traders


• Government, Associations, and Industrial Bodies


• Investors and Trade Experts


• Consulting in Starch-Based Plastics Experts