Bioplastics Industry to Surge at a Considerable CAGR During the Study Period (2023-2030)Posted by rahul nikade on April 27th, 2023 Bioplastics Industry | Forecast 2030 Bioplastics Industry Data Book Covers Biodegradable Plastic, Polylactic Acid (PLA), Bio-based Polyurethane (PU) and Biopharma Plastics Markets. The economic volume generated by the bioplastics industry was estimated at approximately 2,470.6 kilotons in 2021. Grand View Research’s plastics sector data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with an agricultural statistics e-book. Biodegradable Plastic Market Insights The global biodegradable plastic market size was estimated at USD 4.7 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 9.7% from 2023 to 2030. Starch Based was the largest product segment for biodegradable plastics in 2022 with a revenue share of more than 41.3%. On the basis of product, the market is divided into starch-based, PLA, PBAT, PBS, PHA, and others. The starch-based segment is projected to dominate the market in terms of value as well as volume throughout the forecast horizon. Packaging was the largest application segment for biodegradable plastics in 2022 with a revenue share of more than 60.3%. Packaging is one of the leading application sectors for biodegradable plastics. It is used in both rigid and flexible packaging. The replacement of conventional plastics by these plastics in food packaging such as boxes, wraps, cups, and plates is gaining momentum, which is supporting the growth of the biodegradable plastic market. Polylactic Acid Market Insights The global polylactic acid market size was estimated at USD 624.97 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 21.4% from 2023 to 2030. The packaging end-use segment accounted for the largest revenue share of over 36% in 2022, owing to its wide utilization of Polylactic Acid for manufacturing jars, containers, and bottles, along with fresh food packaging. The global customer preference for fill and ecological packaging is forcing manufacturers to adopt Polylactic Acid in packaging. Textile is another important sector having high market penetration and a high growth rate, as Polylactic Acid offers smooth and pleasant fabrics. In addition, PLA provides excellent moisture, drapability, breathability, and durability. These benefits are anticipated to propel the inclusion of PLA in the textile industry during the forecast period. Access the Global Bioplastics Industry Data Book, 2022 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competition benchmarking, macro-environmental analyses, and regulatory & technological framework studies Bio-based Polyurethane Market Insights The global bio-based polyurethane market size was valued at USD 34.73 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.9% from 2021 to 2028. The flexible foam segment dominated the global market in 2020 with a revenue share of more than 49%. Bio-based flexible polyurethane foam is light, durable, supportive, and comfortable and is used in various industries, such as automotive, furniture & mattress, footwear, textile, handbag & luggage, home appliances, and packaging. It is widely utilized as cushioning for a variety of consumer and commercial products, including bedding, furniture, automotive interiors, carpet underlay, and packaging. The building & construction end-use segment dominated the global Bio-based PU market in 2020 accounting for more than 35% of the total revenue share. The growth is credited to the high product demand in the building & construction end-use industry due to its beneficial characteristics including excellent insulation, low weight, long life span, and corrosion resistance among others. Biopharma Plastics Market Insights The global biopharma plastics market size was valued at USD 4.34 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 11.2% from 2022 to 2030. Polyvinyl chloride (PVC) dominated the global market and accounted for more than 20.0% share of the overall revenue in 2021. Polyvinyl chloride has the ability to undergo many processes without breaking or cracking, which accounts for its multiple uses in the market. It is extremely flexible, resistant, and can easily withstand high temperatures, making it suitable for the production of syringes, disposable connectors, depth filters, and other applications of biopharma plastics. Syringes dominated the market and accounted for more than 20.0% share in terms of revenue in 2021. Growth in the demand for prefilled syringes owing to their usage convenience, low costs, minimal microbial contamination, low injection errors, and dilution errors is expected to boost the growth of the market. Bioplastics Market – Global Industry Segmentation Biodegradable Plastic Market Size & Forecasts, by Type, 2019 - 2030
Biodegradable Plastic Market Size & Forecasts, by Application, 2019 - 2030
Plastics Additives Market Size & Forecasts, by End-use, 2019 - 2030
Bio-based Polyurethane Plastic Market Size & Forecasts, by Product, 2019 - 2030
Bio-based Polyurethane Market Size & Forecasts, by End-use, 2019 - 2030
Biopharma Plastics Market Size & Forecasts, by Type, 2019 - 2030
Biopharma Plastics Market Size & Forecasts, by Application, 2019 - 2030
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 Bioplastics Industry Data Book Regional Outlook
Bioplastics Industry Data Book Competitive Landscape The global market players face strong competition from each other as well as from other regional and national players having a well-established supply chain network and compliance with regulations and knowledge of suppliers across markets. Key players operating in the bioplastics industry are –
Go through the table of content of Bioplastics Industry Data Book to get a better understanding of the Coverage & Scope of the study About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. Contact: Sherry James Corporate Sales Specialist, USA Grand View Research, Inc. Phone: 1-415-349-0058 Toll Free: 1-888-202-9519 Email: sales@grandviewresearch.com Like it? Share it! More by this author |