Press release
Biopolymers & Bioplastics Market Is Expected To Grow At A Booming CAGR Of 4.90% Till 2032
Biopolymers & Bioplastics Market
Biopolymers and bioplastics are essential components in several applications throughout end-use industries, including automotive, packaging, building & construction, and textiles. The environment has become worse as a result of expanding global demand for various plastic chemicals and associated pollutants. This created a pressing need for potentially ecologically friendly bio-based products.
Industry expansion is being driven by the growing trend of employing bio-based plastics and polymers to support the market by complying with laws. Additionally, end-use sectors are shifting their preferences toward the usage of bio-based plastics and polymers over traditionally manufactured plastics and plastic compounds.
For instance, the demand for lightweight materials in the production of car components has made the automobile sector one of the major users of bio-based plastics and polymers. Vehicle makers are shifting away from using heavy metal materials and toward using lightweight, dependable, and robust plastics. Global market growth is being impacted by these aspects taken collectively.
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Demand for highly technologically advanced cars is growing, particularly in sections of Europe, North America, the Middle East, and Asia-Pacific. In order to offer greater safety features and optimal performance, automakers worldwide are leaning towards using carbon fibre components in high-end automobiles. Another important factor driving the need for bioplastics and biopolymers in the industry globally is the rising demand for heavy-duty plastic components as a substitute for heavy metals, automobile interiors, crankshafts, under-hood components, and exteriors.
Segment Analysis
The global Biopolymers & Bioplastics market has been segmented on based Type, Non-Biodegradable and End Use.
On the basis of Type, the market is segmented into biodegradable (Polylactic Acid (PLA)), starch blends, polybutylene adipate terephthalate (PBAT), and polyhydroxyalkanoate (PHA). Due to the increased reliance of businesses and customers on environmentally friendly solutions to satisfy their everyday demands, the biodegradable (Polylactic Acid (PLA)) segment led the market.
Based on Non-Biodegradable, the global Biopolymers & Bioplastics market has been segmented into Bio-PE, Bio-PA, Bio-PET, Bio-PTT, and Others. The Bio-PE category dominated the market, and it is predicted that this segment would continue to expand as market factors such as lifestyle and customer perception of the growing demand for environmentally friendly alternatives change.
Based on End Use, the global Biopolymers & Bioplastics market has been segmented into ackaging, consumer goods, automotive & transportation, textiles, agriculture & horticulture, and others. The market was led by the packaging sector, and it is projected that rising e-commerce dependence among consumers worldwide will lead to increased demand for rigid and flexible packaging made of bioplastics and other biopolymer-based materials.
Regional Analysis
In terms of regional analysis, the Asia-Pacific region is expected to dominate the biopolymers and bioplastics market during the forecast period due to the increasing demand for sustainable packaging materials and government initiatives to promote the use of biodegradable plastics. Europe is also a significant market for biopolymers and bioplastics due to the region's strong focus on environmental sustainability and regulations promoting the use of biodegradable plastics. North America is also a growing market for biopolymers and bioplastics due to increased awareness and adoption of sustainable practices in the region.
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Key Companies in the Biopolymers & Bioplastics market include
BASF SE (Germany)
Arkema (France)
Braskem (Brazil)
Biome Bioplastics Limited (US)
Covestro (Germany)
Kaneka Corporation (Japan)
Mitsubishi Chemical Corporation (Japan)
United Biopolymers (US)
NatureWorks Inc. (US)
Plantic Technologies Limited (Australia)
SKYi Composites (India)
Browse More Related Reports:
US Biopolymers and Bioplastics Market- https://www.marketresearchfuture.com/reports/us-biopolymers-and-bioplastics-market-20613
Biopolymers and Bioplastics Companies- https://www.marketresearchfuture.com/reports/biopolymers-and-bioplastics-market/companies
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