Bioplastics & Biopolymers Market worth $45.2 billion by 2029 | Key players NatureWorks LLC (US), Braskem (Brazil), BASF SE (Germany), TotalEnergies Corbion (Netherlands), Novamont S.P.A (Italy).

According to recent market research the "Bioplastics & Biopolymers Market by Product Type (Biodegradable, Non-Biodegradable/ Bio-Based), End-Use Industry (Packaging, Consumer Goods, Textiles, Agriculture & Horticulture, AnT, Coatings & Adhesives), & Region- Global Forecast to 2029", was USD 15.3 billion in 2024 and is projected to reach USD 45.2 billion by 2029, at a CAGR of 24.2%, between 2024 and 2029. Bioplastics are synthetic materials sourced from renewable origins like corn, potatoes, rice, soy, sugarcane, wheat, and vegetable oil, whereas biopolymers are polymers found naturally. Bioplastics can either degrade naturally or not. They are primarily classified into biodegradable and non-biodegradable categories and are used across a wide range of industries including packaging, consumer goods, automotive and transportation, agriculture and horticulture, medical, and various other sectors.

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PBAT (Polybutylene adipate terephthalate) is a biodegradable polyester widely used in the production of bioplastics and biopolymers. It offers excellent biodegradability in various environments, including industrial composting facilities and natural soil conditions. PBAT is commonly used as a component in blends with other biodegradable polymers to improve mechanical properties and enhance the overall performance of bioplastic materials. Its versatility, along with its ability to break down into environmentally friendly byproducts, makes PBAT a valuable ingredient in the development of sustainable packaging, agricultural films, disposable utensils, and other biodegradable products. As the demand for eco-friendly alternatives to traditional plastics grows, PBAT continues to play a crucial role in advancing the bioplastics and biopolymers industry.

Sugarcane and sugar beet serve as vital sources of raw materials for bioplastics and biopolymers, offering abundant stores of fermentable sugars essential for producing eco-friendly plastics like polylactic acid (PLA) and polyhydroxyalkanoates (PHA). Their widespread cultivation globally provides a sustainable and renewable feedstock for biopolymer manufacturing, without competing with food crops for agricultural land. Additionally, their growth contributes to carbon sequestration, enhancing the environmental profile of bioplastics derived from these sources by mitigating carbon emissions. Leveraging sugarcane and sugar beet underscores the shift towards sustainable practices in the plastics industry, promoting environmental stewardship and reducing reliance on fossil fuels.

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The bioplastics and biopolymers market in Europe is experiencing growth and innovation. With increasing awareness of environmental issues and sustainable practices, there's a notable emphasis on the adoption of bioplastics derived from renewable sources. European countries are investing in research and development to expand the application of bioplastics across various industries including packaging, consumer goods, automotive, agriculture, and more. Additionally, stringent regulations and initiatives promoting the use of eco-friendly materials are driving the demand for bioplastics and biopolymers in the region. The key companies producing biodegradable plastics in Europe include BASF (Germany), TotalEnergies Corbion PLA (Netherlands), Biome Bioplastics (UK), and Bio-On (Italy).

NatureWorks LLC (US), Braskem (Brazil), BASF SE (Germany), TotalEnergies Corbion (Netherlands), Novamont S.P.A (Italy), Biome Bioplastics Limited (UK), Mitsubishi Chemical Group Corporation (Japan), Biotec Biologische Naturverpackungen GmbH & Co. (Germany), Plantic Technologies Limited (Australia), and Toray Industries, Inc. (Japan) are the key players in the bioplastics & biopolymers market.

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NatureWorks LLC, a major biopolymers supplier, is co-owned by Cargill and PTT Global Chemical. The company specializes in producing biopolymers from renewable sources like corn, starch, and vegetable oils. Its product range includes series for extrusion/thermoforming, injection molding, films & cards, fibers & nonwovens, and 3D printing. NatureWorks serves various industries such as beauty & household, construction, food service, electronics, medical, and hygiene across North America, Europe, Japan, and Asia-Pacific. It operates manufacturing facilities in Blair, Nebraska, with a capacity of 150,000 metric tons of ingeo biopolymer.

BASF SE, a prominent chemical company, operates across six business segments: chemicals, materials, industrial solutions, surface technologies, nutrition & care, and agricultural solutions. It offers biodegradable plastics through its materials segment and conducts research in process research & chemical engineering, advanced materials & systems research, and bioscience research. Serving over 90,000 customers globally, BASF holds a top-three market position in approximately 30% of its active business areas. With six Verbund sites and 232 additional production sites worldwide, the company operates extensively across Europe, Asia Pacific, North America, South America, Central America, and the Middle East & Africa.

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