Bioplastics and Biopolymers Market to Value USD 27.3 Billion by 2027 – Exclusive Report by MarketsandMarkets™

Chicago, February 2, 2023 /PRNewswire/ – The report “Bioplastics and Biopolymers Market by Type (Biodegradable, Non-biodegradable/Bio-based), End-use Industry (Packaging, Consumer Goods, Textiles, Agriculture & Horticulture, Automotive & Transportation, Coatings & Adhesives), and Region – Global Global forecast for 2027, It was the amount of bioplastics and biopolymers. 11.5 billion dollars It is expected to arrive in 2022 27.3 billion dollars by 2027, at a CAGR of 18.9%, between 2022 and 2027.

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Bioplastics are plastics made from renewable sources such as corn, potatoes, rice, soybeans, sugarcane, wheat and vegetable oil, while biopolymers are naturally occurring polymers. Bioplastics may or may not be bioplastics. They are mainly divided into biodegradable and non-biodegradable plastics for various packaging, consumer goods, automotive and transportation, agriculture and horticulture, medical and other end-use industries.

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In terms of value, PBAT is estimated to be the second largest market by product type in the global bioplastics and biopolymers market during the forecast period.

PBAT is marketed as a fully biodegradable plastic. It has excellent biopolymer properties such as high flexibility, good thermal stability and high biodegradability. PBAT replaces LDPE; In mulch film application; The main application focus for most PBAT manufacturers is shopping bags due to strict environmental regulations. PBAT has a reasonable carrying capacity that makes it a good choice for carrying capacity in market bag applications.

Sugarcane/sugar beet will be the largest market in the global bioplastics and biopolymers market from 2022 to 2027.

The sugarcane/sugar beet segment accounts for more than a quarter of the overall market by volume and will register a CAGR of 19.3% during the forecast period. Bioplastics made from sugarcane ethanol have the same physical and chemical properties as conventional plastic and are fully recyclable. Sugarcane ethanol bioplastic has a lower carbon footprint than traditional plastic because sugarcane absorbs CO2 from the air as it grows. Sugar cane-based bioplastic can be used to make bags, membranes, tubes, films, wraps and stretch films. Many companies are starting to switch to more environmentally friendly packaging.

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Consumer goods It is estimated to be the second largest end-use industry by value in 2022.

Major consumer goods manufacturers are shifting their focus from traditional plastics to bioplastics and biopolymers to reduce their negative impact on the environment. Bioplastics and biopolymers are used to make consumer goods such as touchscreen computer cases, speakers, mobile phone cases and vacuum cleaners. Bioplastics are also used in the production of coffee beans, dinnerware and many other consumer products for household use. Disposable furniture made from biodegradable plastics is replacing conventional plastics.

Europe It is considered the third largest region by value during the forecast period.

Europe Bioplastics and biopolymers account for a significant share in the market due to high consumer demand for sustainable packaging materials. The governments of European countries are promoting the use of biodegradable plastics by developing infrastructure for the composting of these plastics. Key companies that produce biodegradable plastics Europe Include BASFGermanyTotal Energy Corbion PLA (Netherlands), Biome Bioplastics (UK) and Bio-On (Italy).

Market players

Some of the key players in the global bioplastics and biopolymers market are NatureWorks LLC (US), Braskem ().Brazil), BASF SE (GermanyTotal Energy Corbion (NetherlandsNovamont S.p.A.Italy), Biome Bioplastics Ltd. (UK), Mitsubishi Chemical Group Corporation (Japan), Biotec Biologische Naturverpackungen GmbH & Co.GermanyPlantic Technologies Limited (Australia) and Toray Industries, Inc.Japan) and others.

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