Bioplastics Industry Data Book - Biodegradable Plastic, Polylactic Acid (PLA), Bio-based Polyurethane (PU) and Biopharma Plastics Market Size, Share, Trends Analysis, And Segment Forecasts, 2022 – 2030

The economic volume generated by the bioplastics industry was estimated at approximately 2,470.6 kilotons in 2021. This economic output is an amalgamation of businesses that are involved in the raw material suppliers, compounding of bioplastics their additives, distribution supply, and application of bioplastics.

Bioplastics Industry Data Book Coverage –

Bioplastics Industry Data Book Coverage Snapshot

Access the Global Bioplastics Industry Data Book, 2022 to 2030, compiled with details like market sizing information forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory technological framework studies

Biodegradable Plastics Market Growth Trends

The global biodegradable plastics market size is projected to reach USD 10.0 billion by 2030, according to a report by Grand View Research, Inc., rising at a CAGR of 9.7% during the forecast period. The increasing use of biodegradable plastics, owing to strict governmental laws prohibiting the use of conventional plastics, coupled with growing awareness among the public towards the ill effects of plastic waste is stoking the growth of the market. The above factors are expected to spur market growth during the forecast period.

Biodegradable plastics are plastics that decompose in the environment within a reasonable period. Biodegradable plastics are made up of renewable raw materials. Many of these plastics require biodegradable additives to enhance the biodegradation process and some may require a specific environment to disintegrate. Time taken by plastics to decompose depends upon various factors such as raw materials used and environmental conditions such as moisture and temperature.

The starch-based segment leads the global market. Starch-based plastics are used in various applications such as packaging, consumer electronics, agriculture, automotive, and textiles. PLA is also one of the most consumed biodegradable plastic-type. It is used in 3D printing, mulch film, and packaging.

Polylactic Acid Market Growth Trends 

The global polylactic acid market size is expected to reach USD 2,772.93 million by 2030, registering a CAGR of 21.4% according to a new report by Grand View Research, Inc. The growth is mainly driven by the end-use industries such as agriculture, transport, and textile, the increasing popularity of quick-service restaurants, and changing consumer preferences that are fueling the growth of flexible packaging. The growing packaging sector is anticipated to create high opportunities for polylactic acid during the forecast period. 

Packaging was the dominant end-use segment in 2022 and is estimated to continue its dominance over the forecast period. PLA is extensively used in packaging end-use products, including household care, food beverage, and personal care products, among others. Growing consumer awareness regarding the need for sustainability, recyclability, and green packaging is expected to drive the global PLA demand during the forecast period. 

In the automotive transportation sector, several reforms in terms of component manufacturing are observed globally. For instance, vehicle interior components such as engine components, interior trim, and under the hood components are manufactured using lightweight substances to enhance performance and reduce vehicle weight. This has led to an increasing need for sustainable bioplastic component manufacturing to increase the toughness and increase fuel economy, which, in turn, has led to the growing demand for polylactic acid. Rising demand for equipment and protective apparel due to the COVID-19 outbreak is anticipated to drive the inclusion of PLA in the medical and textile end-use segments. 

Bio-based Polyurethane Market Growth Trends

The global bio-based polyurethane market size is expected to reach USD 52.8 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to register a CAGR of 5.9% from 2021 to 2028. Increasing product demand from the automotive industry for the manufacturing of seat cushions, seat backs, armrests, head restraints, and others is anticipated to boost the bio-based PU market growth. In automotive applications, the use of natural fiber-reinforced plastics and plant-based polymer resins helps reduce CO2 emissions and the weight of vehicles, which, in turn, helps improve fuel economy. Thus, increasing government concerns to reduce CO2 emissions across the globe are anticipated to fuel the product demand in automotive applications during the forecasted years.

Expanding application scope in the packaging, building construction, electrical electronics, automotive, and consumer goods industries is also anticipated to offer growth opportunities to the key players. For instance, in September 2020, Covestro AG announced its partnership with Shandong INOV New Materials Co., Ltd. to complete the laying of the walkway using CO2-based polyolCardyon. This is the first time that innovative CO2-based materials have been used in China to produce sports floorings. Companies, such as Ford Motor Company, ZMP Inc., La-Z-Boy Inc., and Airysole Footwear Pvt. Ltd., are some of the potential customers in the market.

Increasing concerns regarding toxic issues pertaining to petrochemicals along with depleting crude oil reserves have been driving the development of bio-based polymers like bio-based polyurethane (PU). Regulations imposed by most governments restricting the consumption of petroleum-based plastics in certain applications like medical devices are expected to further incentivize the production of bio-based polyurethane during the forecast period.

Biopharma Plastics Market Growth Trends

The global biopharma plastics market size is expected to reach USD 11.29 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 11.2% from 2022 to 2030. The growing awareness about lightweight materials used in the healthcare industry in various applications such as containers, valves, and clamps is expected to drive the demand for silicones. Superior characteristics of the biopharma plastic polymers make them highly compatible with rubber, adhesives, metals, and coatings, thus increasing their preference over other products. Increasing production of biopharma plastic products is the key factor behind the growth of this market.

The revision of the regulatory framework associated with the biopharma industry is expected to increase the safety, efficacy, and performance standards of biopharma plastic-based medical products. As a result, the demand for superior-quality biopharma plastics is expected to grow in Europe in the coming years. The market in the region is highly regulated, with stringent norms enforced for the production of biopharma plastics by the World Health Organization.

The growing demand for biopharma plastics to manufacture various medical equipment, such as drug delivery systems, beakers, test tubes, and containers for laboratory ware, IV, and dialysis fluid is expected to positively impact the growth of the market over the forecast period. The growing biopharma/medical industry coupled with the increasing demand for a hygienic and clean environment at healthcare facilities is expected to have a positive impact on the market growth over the forecast period.

Order your copy of the Free Sample of “Bioplastics Industry Data Book - Biodegradable Plastic, Polylactic Acid (PLA), Bio-based Polyurethane (PU) and Biopharma Plastics Market Size, Share, Trends Analysis, And Segment Forecasts, 2022 – 2030” Data Book, published by Grand View Research

Competitive Landscape

Key players operating in the bioplastics industry are –

• TEIJIN LIMITED
• TORAY INDUSTRIES, INC.
• Toyota Tsusho Corporation
• Avantium
• PTT MCC Biochem Co., Ltd.
• An Phat Holdings
• NatureWorks LLC
• SABIC
• BASF SE
• Futerro
• Trinseo S.A.
• Braskem

Grand View Research’s Bioplastics Industry data book is a collection of market sizing information forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.

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