Market Overview 2022-2027
The latest research study “Bioplastics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global Bioplastics Market size reached US$ 9.83 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 20.84 Billion by 2027 exhibiting a CAGR of 12.60% during 2022-2027.
Covid-19 Impact:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
What is the Bioplastics Market
Bioplastics refer to biodegradable materials produced from natural resources, such as vegetable oils and starches, that are used to reduce plastic waste polluting the environment. They are highly durable as well as lightweight and can be molded into various shapes and sizes. Bioplastics require a lesser amount of energy during the manufacturing process. They are absorbed by the soil and converted to compost or humus. In addition to this, bioplastics are recyclable and do not need any fossil fuel for recycling as compared to conventional plastics. Consequently, they are extensively utilized in coating, packaging, agricultural products, consumer goods, etc., across the global.
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The growing consumer concerns towards the harmful impact of plastics are primarily driving the bioplastics market. Additionally, the escalating demand for bio-based packaging, owing to its high tensile strength, and the widespread adoption of these materials in several industries to minimize carbon and greenhouse gas emissions are further catalyzing the market growth.
Besides this, the rising utilization of bioplastics that are manufactured from renewable sources, including corn, wheat, maize, sugarcane, etc., and the launch of numerous favorable policies by government bodies for reducing plastic pollution are acting as significant growth-inducing factors.
Moreover, they are also organizing campaigns for using bioplastic products, on account of the increasing oil prices, which is positively influencing the global market. Apart from this, extensive investments in R&D activities to introduce bio-based nylon, polyethylene, and polyethylene terephthalate (PET) plastic bottles for beverage packaging, are anticipated to fuel the bioplastics market over the forecasted period.
What are the key factors driving the Bioplastics Market :
The widespread adoption of this process to produce animation movies as well as science-fiction content and introduce video games with realistic graphics is primarily driving the 3D motion capture market. Additionally, the escalating demand for sports and allied activities to train athletes, review performance, analyze injury processes, etc., is further catalyzing the market growth. Besides this, the growing popularity of 3D motion capture to provide alternative training methods in medical studies, diagnosis, rehabilitation, posture analysis, treatment of physical conditions, etc., is acting as another significant growth-inducing factor.
Moreover, the launch of favorable policies by government bodies across countries to develop art studios for visual effects is also positively influencing the global market. Apart from this, the rising utilization of machine learning (ML) and artificial intelligence (AI) to create realistic animations without using extensive equipment, such as reflective markers and multi-camera systems, is anticipated to fuel the 3D motion capture market over the forecasted period.
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Global Bioplastics market Report Scope |
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Report Coverage |
Details |
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Market size value in 2021 |
US$ 9.83 Billion |
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Market forecast in 2027 |
US$ 20.84 Billion |
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Growth Rate |
CAGR of 12.60% from 2022 to 2027 |
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Base year for estimation |
2021 |
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Historical data |
2016-2021 |
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Forecast period |
2022-2027 |
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Report coverage |
Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, And Trends |
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Segments covered |
product, application and distribution channel. |
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Regional scope |
Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
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Key companies profiled |
Arkema S.A., BASF SE, Biome Bioplastics Limited (Biome Technologies plc), Eastman Chemical Company, FKuR Kunststoff GmbH, Kuraray Co. Ltd., Mitsubishi Chemical Corporation (Mitsubishi Chemical Holdings Corporation), Novamont S.p.A., Solvay S.A., Teijin Limited, Total Corbion PLA and Trinseo. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Product:
Biodegradable
Polylactic Acid
Starch Blends
Polybutylene Adipate Terephthalate (PBAT)
Polybutylene Succinate (PBS)
Others
Non-Biodegradable
Polyethylene
Polyethylene Terephthalate
Polyamide
Polytrimethylene Terephthalate
Others
Breakup by Application:
Flexible Packaging
Rigid Packaging
Agriculture and Horticulture
Consumer Goods
Textile
Automotive and Transportation
Others
Breakup by Distribution Channel:
Online
Offline
By Geography:
North America: (United States, Canada)
Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa
Click here to view detailed information with table of content: https://www.imarcgroup.com/bioplastics-market
List of Major Key Players:
The major players in the market are
Arkema S.A. [OTCMKTS: ARKAY]
BASF SE [OTCMKTS: BASFY]
Biome Bioplastics Limited (Biome Technologies plc) [BIOM:LSE]
Eastman Chemical Company [NYSE: EMN]
FKuR Kunststoff GmbH
Kuraray Co. Ltd [OTCMKTS: KURRY]
.Mitsubishi Chemical Corporation (Mitsubishi Chemical Holdings Corporation)
Novamont S.p.A., Solvay S.A.
Teijin Limited, Total Corbion PLA and Trinseo.
Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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