Bioplastics Market Growth Projected at 12% CAGR during the period 2022-2027 – Exclusive Report by Mordor Intelligence

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Bioplastics Market Growth Projected at 12% CAGR during the period 2022-2027 - Exclusive Report by Mordor Intelligence
Mordor Intelligence
According to European Bioplastics data, the global bioplastic production capacity in 2021 was around 2.417 million tons. Biodegradable plastics, which include PLA, PHA, starch blends, and others, currently account for more than 64% (over 1.5 million tons) of worldwide bioplastics production capacity.

Bioplastics Market Overview

The bioplastics market size was estimated at over 1,220 kilotons in 2021, and the market is projected to register a CAGR of over 16% during the forecast period (2022-2027). According to European Bioplastics data, the global bioplastic production capacity in 2021 was around 2.417 million tons. According to JEITA, worldwide electronic product manufacturing, which includes laptops, mobile phones, semiconductors, and other items, climbed by 11% year over year to USD 3,360 billion in 2021. It is predicted to reach USD 3,536 billion in 2022, which would have a beneficial influence on bioplastic demand. Biodegradable plastics, which include PLA, PHA, starch blends, and others, currently account for more than 64% (over 1.5 million tons) of worldwide bioplastics production capacity. Bio-based, non-biodegradable plastics account for around 36% of worldwide bioplastics manufacturing capacity (more than 866 thousand tons).

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Bioplastics Market – Geographical Overview

Europe dominated the global bioplastics market, with most of the demand coming from Germany, followed by France, Italy, and the United Kingdom. The textile industry of Germany is the largest in the European region, with around 6,000 registered companies. The country is the prominent importer of textile raw materials and exporter of finished textile products. The industry has grown to a gigantic stature, as it caters to around 18% of the textile market in Europe, and the technical textiles from Germany, cater to the world demands of around 45%.

The United Kingdom stands to be the fourth-largest consumer of plastics in Europe. The country has been identified as one of the most innovative and advanced countries in terms of developing advanced and modified plastics. However, the country’s attention has been drifted toward bioplastics, with increasing awareness about the environmental impact of petroleum-based non-biodegradable plastics.

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Key Highlights of the Bioplastics Market

  • According to Eurostat, the growth rate of the plastic industry is around 8.5%. This will have a positive impact on the demand for bioplastics in the market since many countries in Europe have initiatives to promote bio-based, biodegradable, and compostable plastics that lead to genuine environmental benefits.
  • Asia-Pacific has the largest manufacturing capacity of bioplastics, with around 45% of the global capacity. Moreover, with the increase in awareness among consumers and the strict ban by the governments in the countries like China, India, and Japan, they have started promoting the consumption of bioplastics in the region.

Recent Developments in the Bioplastics Market

  • On Jan 2022, NatureWorks’ next biopolymer manufacturing plant, which will be located in the Nakhon Sawan Biocomplex in Thailand, will get bespoke state-of-the-art production technology from Sulzer Chemtech Ltd. This will help NatureWorks to produce 75’000 tons per year of Ingeo polylactic acid (PLA) annually, which is used in applications like compostable food packaging.
  • In February 2022, Carbios and Indorama Ventures announced the partnership for bio-recycled PET in France with a processing capacity estimated at ca. 50.000 tonnes.
  • In July 2021, TIPA Corporation Ltd. partnered with Amcor to manufacture compostable packaging in Australia and New Zealand to look for plastic alternatives to reduce waste. Amcor will manufacture, supply, and distribute the product under an exclusive partnership with TIPA, including fresh food and bakery items, allowing traditional plastic bags and packaging to be removed from the waste stream.

Related Research and Links

List of Key Players in the Bioplastics Market

  • Arkema
  • BASF SE
  • Biotec
  • Braskem
  • Danimer Scientific
  • Futerro
  • Indorama Ventures Public Company Limited
  • Minima
  • Natureworks LLC
  • Novamont SpA
  • Rodenburg Biopolymers
  • Trinseo
  • Total Corbion PLA

*List Not Exhaustive

Mordor Intelligence has segmented the global bioplastics market based on type, application, and geography:

  • Type (Market Size & Forecast based on Volume (kiloton), 2017-2027)
    • Biodegradable Plastics
      • Starch-based
      • Polylactic Acid (PLA)
      • Polyhydroxyalkanoates (PHA)
      • Polyester (PBS, PBAT, and PCL)
      • Other Biodegradable Plastics
    • Non-biodegradable Plastics
      • Bio-polyethylene Terephthalate (PET)
      • Bio-Polyethylene
      • Bio-Polyamides
      • Bio-Polytrimethylene Terephthalate
      • Other Non-biodegradable Plastics
  • Application (Market Size & Forecast based on Volume (kiloton), 2017-2027)
    • Flexible Packaging (Films, Plastic Bags, etc.)
    • Rigid Packaging (Bottles, Containers, etc.)
    • Automotive and Assembly Operations
    • Agriculture and Horticulture
    • Construction
    • Textiles
    • Electrical and Electronics
    • Other Applications
  • Geography (Market Size & Forecast based on Volume (kiloton), 2017-2027)
    • North America
      • United States
      • Canada
      • Mexico
    • Asia-Pacific
      • China
      • India
      • Japan
      • South Korea
      • Rest of Asia-Pacific
    • Europe
      • Germany
      • United Kingdom
      • France
      • Italy
      • Rest of Europe
    • Middle-East and Africa
      • Saudi Arabia
      • South Africa
      • Rest of Africa
    • South America
      • Brazil
      • Argentina
      • Rest of South America

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