Growing Environmental Concerns to Drive Bio Plastics Market Growth
Category: Chemicals & Materials Published Date : Feb-23 ID: CVC-37417 Format: PDF Pages: 300
Report Highlights
According to a research survey conducted by ChemView Consulting, in Bio Plastics Market was worth US $ 12.03 Bn. The market is expected to grow at a CAGR of 24.90 % between 2023 and 2033 to hit US $ 111.12 Bn by 2033 end.
Key Market Trends
Growing Demand for Bio Plastics in the Automotive Industry
The automotive industry is increasingly turning to bio plastics as a sustainable solution for their production needs. Bio plastics are made from renewable resources, such as corn, sugarcane, and vegetable oils, and are biodegradable, making them an attractive option for the automotive industry. As the demand for sustainable solutions grows, the automotive industry is expected to continue to embrace bio plastics as a viable option for their production needs.
Packaging Industry Embraces Bio Plastics for Sustainable Solutions
The packaging industry is increasingly turning to bio plastics as a sustainable solution for their production needs. Bio plastics are made from renewable resources, such as corn, sugarcane, and vegetable oils, and are biodegradable, making them an attractive option for the packaging industry. As the demand for sustainable solutions grows, the packaging industry is expected to continue to embrace bio plastics as a viable option for their production needs.”
Market Drivers
Growing Demand for Eco-Friendly Products
Bio plastics are becoming increasingly popular due to their environmental benefits. As consumers become more aware of the environmental impact of their purchases, they are increasingly looking for products that are more sustainable and eco-friendly. This is driving the demand for bio plastics, as they are made from renewable sources and are biodegradable.
Increasing Government Support
Governments around the world are increasingly recognizing the importance of bio plastics and are providing incentives and subsidies to encourage their use. This is helping to drive the growth of the bio plastics market, as more companies are able to access the resources they need to produce these materials.
Technological Advancements
Advances in technology have enabled the production of bio plastics to become more efficient and cost-effective. This has allowed companies to produce bio plastics at a lower cost, making them more accessible to consumers. This has helped to drive the growth of the bio plastics market.” “Bio plastics are a type of plastic derived from renewable biomass sources, such as vegetable fats and oils, corn starch, straw, woodchips, food waste, etc.
Segmentation Insights
Bio plastics are a growing segment in the plastics industry that offers a sustainable solution to traditional plastic products. The market can be segmented based on product type and application.
Most Popular (Fastest Growth Rate)
Bio plastics can be classified into biodegradable and non-biodegradable categories. The biodegradable segment further includes starch blends, polylactic acid (PLA), polybutylene adipate terephthalate (PBAT), polybutylene succinate (PBS), polyhydroxyalkanoates (PHA), and other biodegradable materials. The non-biodegradable segment includes bio-polyethylene terephthalate (Bio-PET), bio-polyamide (Bio-PA), bio-polyethene (Bio-PE), bio-polytrimethylene terephthalate (Bio-PTT), and other non-biodegradable materials.
By Application, the market can be segmented into rigid packaging (including bottles, jars, and trays), flexible packaging (including pouches, shopping bags, and waste bags), textiles, automotive and transportation, agriculture and horticulture, consumer goods, and others.
The Use of bio plastics in packaging is expected to increase due to their biodegradability and reduced carbon footprint. Additionally, the growth of the automotive and transportation industry is expected to drive the demand for bio-based materials, including bio plastics. The use of bio plastics in textiles is also gaining popularity due to their sustainable nature.
Regional Insights
North America: The Rise of Bio Plastics in North America
North America is leading the way in the development and use of bio plastics. With the help of innovative technologies, companies in the region are able to produce bio plastics from renewable sources, such as vegetable fats and oils, corn starch, straw, woodchips, food waste, etc. This is helping to reduce the environmental impact of traditional plastics and create a more sustainable future.
Europe: A Greener Future, Europe Embraces Bio Plastics
Europe is embracing the use of bio plastics as a way to reduce the environmental impact of traditional plastics. Companies in the region are investing in innovative technologies to produce bio plastics from renewable sources, such as vegetable fats and oils, corn starch, straw, woodchips, food waste, etc. This is helping to create a more sustainable future and reduce the reliance on traditional plastics.
Research Scope/Taxonomy
Market Analysis by Product Type
Market Analysis by Application
Market analysis by region:
Key Companies Profiled
1.1. Global Market Snapshot
1.2. Key Success Factors
1.3. Strategic Analysis and Recommendations
2.1. Market Taxonomy
2.2. Market Definitions
3.1. Preliminary Investigation & Research Product Type
3.2. Secondary Research & Primary Research
3.3. Data Analysis & Econometric Modelling
3.4. Expert Data Validation
4.1. Supply-Side Trends
4.2. Demand-Side Trends
5.1. Global Market Value (US$ Mn) Analysis, 2017 – 2032
5.2. Incremental $ Opportunity Index, 2022-2032
5.3. Global Market Volume (Tons) Analysis, 2017 – 2032
6.1. Regional Level Pricing Analysis and Forecast
6.1.1. Manufacturers Level Pricing
6.1.2. Distributor Level Pricing
6.2. Global Pricing Analysis Benchmark
6.3. Cost Breakdown Analysis
7.1. Cross Analysis of Application W.R.T. End User Type
8.1. Regional Supply Vs. Demand Gap Assessment
8.2. Top Producing Countries Analysis
9.1. Macroeconomic Factors
9.2. Forecast Factors
9.3. Market Dynamics
9.3.1. Driver
9.3.2. Restraint
9.3.3. Opportunity
9.4. Supply Chain Analysis
9.4.1. List Raw End User Suppliers
9.4.2. List of Manufacturers
9.4.3. List of Distributors
9.4.4. List of End-Users
9.4.5. End-Users Consumption Analysis
9.4.6. Average Profitability Margin Analysis
9.5. Covid-19 Impact Assessment
9.5.1. Economy/Cluster Projections
9.5.2. Covid-19 Economic Assessment
9.5.3. Impact on Target Market
9.5.4. Recovery Scenario
9.6. Regulatory Framework
9.6.1. Regulations of Key Countries
9.6.2. Potential Impact of Regulations
9.7. Porter’s Five Forces Analysis
9.8. Source Landscape
10.1. Introduction
10.2. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Type [Value (US$ Mn) and Volume (Tons) Analysis]
10.2.1. Biodegradable
10.2.2. Starch Blends
10.2.3. Polylactic Acid (PLA)
10.2.4. Polybutylene Adipate Terephthalate (PBAT)
10.2.5. Polybutylene Succinate (PBS)
10.2.6. Polyhydroxyalkanoates (PHA)
10.2.7. Other Biodegradables
10.2.8. Non-Biodegradable
10.2.9. Non-Biodegradable
10.2.10. Bio-Polyethylene Terephthalate (Bio-PET)
10.2.11. Bio-Polyamide (Bio-PA)
10.2.12. Bio-Polyethene (Bio-PE)
10.2.13. Bio-Polytrimethylene Terephthalate (Bio-PTT)
10.2.14. Other Non-Biodegradables
10.3. Market Attractiveness Analysis by Product Type
11.1. Introduction
11.2. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Application [Value (US$ Mn) and Volume (Tons) Analysis]
11.2.. 1
11.2.15. Market Attractiveness Analysis by Application
12.1. Introduction
12.2. Key Market Trends
12.3. Historical and Current Market (2017-2021) and Future Market Analysis (2022-2032) By Region [Value (US$ Mn) and Volume (Tons) Analysis]
12.3.1. North America
12.3.2. Latin America
12.3.3. Europe
12.3.4. Asia-Pacific
12.3.5. Middle East
12.3.6. Africa
12.4. Market Attractiveness Analysis by Region
13.1. Introduction
13.2. Key Market Trends
13.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
13.3.1. By Country
13.3.1.1. U.S.
13.3.1.2. Canada
13.3.2. By Product Type
13.3.3. By Application
13.4. Market Attractiveness Analysis
13.4.1. By Country
13.4.2. By Product Type
13.4.3. By Application
14.1. Introduction
14.2. Key Market Trends
14.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
14.3.1. By Country
14.3.1.1. Brazil
14.3.1.2. Mexico
14.3.1.3. Rest of Latin America
14.3.2. By Product Type
14.3.3. By Application
14.4. Market Attractiveness Analysis
14.4.1. By Country
14.4.2. By Product Type
14.4.3. By Application
15.1. Introduction
15.2. Key Market Trends
15.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
15.3.1. By Country
15.3.1.1. Germany
15.3.1.2. Italy
15.3.1.3. France
15.3.1.4. UK
15.3.1.5. Spain
15.3.1.6. Netherlands
15.3.1.7. Norway
15.3.1.8. Russia
15.3.1.9. Rest of Europe
15.3.2. By Product Type
15.3.3. By Application
15.4. Market Attractiveness Analysis
15.4.1. By Country
15.4.2. By Product Type
15.4.3. By Application
16.1. Introduction
16.2. Key Market Trends
16.3. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
16.3.1. By Country
16.3.1.1. China
16.3.1.2. Japan
16.3.1.3. South Korea
16.3.1.4. India
16.3.1.5. Indonesia
16.3.1.6. Thailand
16.3.1.7. Vietnam
16.3.1.8. Australia & New Zealand
16.3.1.9. Rest of Asia-Pacific
16.3.2. By Product Type
16.3.3. By Application
16.4. Market Attractiveness Analysis
16.4.1. By Country
16.4.2. By Product Type
16.4.3. By Application
17.1. Introduction
17.2. Key Market Trends
17.3. Pricing Analysis
17.4. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
17.4.1. By Country
17.4.1.1. Saudi Arabia
17.4.1.2. Turkey
17.4.1.3. U.A.E.
17.4.1.4. Rest of the Middle East
17.4.2. By Product Type
17.4.3. By Application
17.5. Market Attractiveness Analysis
17.5.1. By Country
17.5.2. By Product Type
17.5.3. By Application
18.1. Introduction
18.2. Key Market Trends
18.3. Pricing Analysis
18.4. Historical and Current Market Size (2017-2021) and Future Market Size Analysis (2022-2032) [Value (US$ Mn) and Volume (Tons) Analysis]
18.4.1. By Country
18.4.1.1. South Africa
18.4.1.2. Nigeria
18.4.1.3. Egypt
18.4.1.4. Rest of Africa
18.4.2. By Product Type
18.4.3. By Application
18.5. Market Attractiveness Analysis
18.5.1. By Country
18.5.2. By Product Type
18.5.3. By Application
19.1. Tier Structure Breakdown
19.2. Market Share Analysis
19.3. Production Capacity Analysis
19.4. Company Footprint Analysis
19.4.1. Product Footprint of Players
19.4.2. Regional Footprint of Players
19.4.3. Channel Footprint of Players
19.5. Brand Preference Analysis
19.6. Competition Dashboard
20.1. Novamont S.p.A.
20.1.1. Company Overview
20.1.2. Product & Financial Portfolio
20.1.3. Manufacturing Facilities
20.1.4. Recent Developments
20.1.5. SWOT Analysis
20.1.6. Strategy Overview
20.2. Arkema S.A.
20.3. Matrìca S.p.A.
20.4. Solvay S.A
20.5. NatureWorks LLC
20.6. Total Corbion PLA bv
20.7. PTT MCC Biochem Co., Ltd.
20.8. Roquette Frères
20.9. Avantium
20.10. Toray Industries, Inc.
20.11. LyondellBasell Industries Holdings B.V.
20.12. BASF SE
20.13. BioApply
20.14. Braskem
20.15. Biofase
20.16. Genecis
20.17. Trifilon
20.18. Kaneka Takasago
20.19. Danimer Scientific
20.20. Taghleef Industries
20.21. Advance Bio Material P. Ltd.