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Bioplastics Market: Know Applications Supporting Impressive Growth

09-29-2022 08:24 AM CET | Energy & Environment

Press release from: The Insight Partners

/ PR Agency: The Insight Partners
The Insight Partners

The Insight Partners

According to our latest market study on "Bioplastics Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type (Biodegradable and Non-Biodegradable) and Application (Packaging, Agriculture, Consumer Goods, Automotive & Transportation, Textiles, Building & Construction, and Others)," the market is expected to grow from US$ 5,799.8 million in 2021 to US$ 13,806.1 million by 2028; it is estimated to grow at a CAGR of 13.2% from 2021 to 2028. The report highlights key factors driving the market growth and prominent players and their progress in the market. Increasing Demand for Eco-Friendly Plastics in the Packaging Industry to Drive Bioplastics Market Growth during 2021-2028.

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Key Companies: Teijin Limited; Toray Industries, Inc.; Sabic; Basf SE; Total Corbion PLA; Braskem S.A.; Biome Bioplastics; Mitsubishi Chemical Corporation; Novamont S.P.A.; and Natureworks LLC

Bioplastics is a sustainable material derived from renewable feedstocks and is an alternative to petroleum-based plastics. The production of bioplastic requires 65% less energy than conventional petroleum plastic.

The increased demand for eco-friendly plastics in the packaging industry is driving the growth of the bioplastics market. Bioplastics are being increasingly used for rigid packaging applications where the shipping companies are focusing on the usage of sustainable and sturdy packaging for shipments. Cornstarch-based packaging is more eco-friendly than plastic packaging and is used in various applications such as in the development of soda bottling, for example, or to make loose-fill packaging material. Polylactic acid (PLA) is the most common type of bioplastic used in food packaging, whereas Polyhydroxyalkanoates (PHA) is often utilized in medical devices, including sutures and cardiovascular patches. PLA has properties like polyethylene and polypropylene, and its advantages are a high level of rigidity, transparency, stability, and superior performance. Companies are using bioplastics for developing plastic bags, packaging various foodstuffs and disposable items, and general packaging, which is driving the growth of the bioplastics market.

Bioplastics is a substance made from organic biomass sources, unlike conventional plastics made from petroleum. Bioplastics are made through a number of different processes. Some processes include the use of a microorganism to process base materials, such as vegetable oils, cellulose, starches, acids, and alcohols.

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Market Insights
Wide Application Scope of Bioplastics

In recent years, there has been an increase in the application of bioplastic in various end-use industries across the world. In the agriculture industry, bioplastics are being used as an alternative that decreases resource use. Superabsorbent bioplastics can be utilized as a complementary water source since they can absorb and retain a large amount of water, providing it to crops in drought times. Bioplastics are also increasingly used in various consumer products, such as food containers, biodegradable utensils, and grocery bags. In the automotive industry, it helps in reducing fuel consumption and emissions by reducing vehicles' weight. Thus, the wide application scope of bioplastics is driving the growth of the market.

Report Spotlights
• Progressive trends in the bioplastics industry to help players develop effective long-term strategies
• Business growth strategies adopted by companies to secure growth in developed and developing markets
• Quantitative analysis of the global bioplastics market from 2019 to 2028
• Estimation of the demand for bioplastics across various industries
• Porters analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict the market growth
• Recent developments to understand the competitive market scenario and the demand for the bioplastics
• Market trends and outlook coupled with factors driving and restraining the growth of the bioplastics market
• Understanding regarding the strategies that underpin commercial interest with regard to the global bioplastics market growth, aiding in the decision-making process
• Bioplastics market size at various nodes of market
• Detailed overview and segmentation of the global bioplastics market as well as its industry dynamics
• Bioplastics market size in various regions with promising growth opportunities

Directly Purchase a copy of this research study @ https://www.theinsightpartners.com/buy/TIPRE00003267/?utm_source=OpenPR&utm_medium=10593

Note: If you have any special requirements related to Bioplastics Market Report please let us know and we will offer you the report as you want.

Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

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