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US Starch based Plastics Market

ID: MRFR/CnM/15835-US | 100 Pages | Author: MRFR Research Team| December 2023
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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.

The US starch-based plastics market is experiencing a surge in demand, driven by the increasing focus on sustainable and eco-friendly alternatives to traditional plastics. Starch-based plastics, also known as bioplastics, are derived from renewable resources, primarily starches sourced from crops like corn, potatoes, and cassava. The growing awareness of environmental concerns related to plastic pollution and the depletion of fossil resources has propelled the adoption of starch-based plastics as a viable and sustainable alternative. In the packaging industry, starch-based plastics are gaining prominence as a packaging material that offers biodegradability, compostability, and reduced carbon footprint compared to conventional plastics. The push for sustainable packaging solutions from consumers and regulatory bodies contributes significantly to the rising demand for starch-based plastics in the packaging sector.

The agricultural sector also plays a crucial role in driving the demand for starch-based plastics, as these materials often use starch derived from crops. The utilization of starch from agricultural sources aligns with sustainable agricultural practices and provides farmers with additional revenue streams. The integration of starch-based plastics into agricultural operations promotes a circular economy by utilizing resources more efficiently and reducing dependency on non-renewable materials.

Moreover, the consumer goods industry is incorporating starch-based plastics into various products, including disposable cutlery, food containers, and single-use items. As consumer awareness of the environmental impact of plastic waste increases, there is a growing preference for products made from renewable resources. Starch-based plastics offer a viable solution to address this demand, providing eco-friendly alternatives that have a lower impact on the environment throughout their lifecycle.

The automotive industry is also contributing to the demand for starch-based plastics, particularly in the manufacturing of interior components and non-structural parts. Automakers are exploring bioplastics as a means to reduce the environmental footprint of vehicles and enhance the sustainability of automotive materials. Starch-based plastics offer a renewable and biodegradable option for certain applications within the automotive sector, aligning with the industry's commitment to sustainability.

The growth of the US starch-based plastics market is further fueled by ongoing innovations and advancements in bioplastic technology. Manufacturers are investing in research and development to improve the mechanical and thermal properties of starch-based plastics, making them more versatile and suitable for a broader range of applications. The development of starch-based plastics with enhanced durability, heat resistance, and processing capabilities expands their utility across industries.

Despite the positive momentum, challenges such as cost competitiveness, scalability of production, and the need for widespread infrastructure for composting and recycling of bioplastics pose ongoing considerations within the starch-based plastics market. Manufacturers are actively working to address these challenges, focusing on optimizing production processes, reducing costs, and collaborating with stakeholders to establish effective waste management systems.

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