Bioplastics & Biopolymers Market: Unveiling the Explosive Growth and Sustained Demand | Top Key Players Analysis

The Bioplastics & Biopolymers Industry is a sector that focuses on the production of biodegradable and environmentally friendly plastic alternatives derived from renewable resources such as corn starch, sugarcane, or other plant-based materials. Unlike traditional plastics made from fossil fuels, bioplastics are designed to have a lower environmental impact, offering a sustainable solution to the plastic pollution problem.?

The global?Bioplastics & Biopolymers market size?is estimated at USD 11.5 billion in 2022 and is projected to reach USD 27.3 billion by 2027, at a CAGR of 18.9% between 2022 and 2027.

The key drivers of the bioplastics & biopolymers market are the increased use of bioplastics in the packaging end-use industry.

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Browse?244 market data Tables and?42 Figures spread through?283 Pages and in-depth TOC on?"Bioplastics & Biopolymers Market by Type (Biodegradable, Non-Biodegradable/ Bio-Based), End-Use Industry (Packaging, Consumer Goods, Textiles, Agriculture & Horticulture, Automotive & Transport, Coatings & Adhesives), & Region - Global Forecast to 2027

Demand and Scope in the Packaging Industry:

• Environmental Concerns: The increasing awareness of environmental issues and the desire for sustainable packaging solutions have driven the demand for bioplastics. Consumers and businesses alike are seeking alternatives to conventional plastics to reduce their carbon footprint.
• Regulatory Support: Governments worldwide are implementing regulations to curb single-use plastics and promote eco-friendly alternatives. This has created a conducive environment for the growth of the bioplastics industry, especially in the packaging sector.
• Biodegradability: Bioplastics are designed to break down more easily in the environment compared to traditional plastics, reducing the persistence of plastic waste. This feature makes them attractive for single-use packaging applications.
• Renewable Resources: The use of renewable resources in bioplastics production aligns with the global shift toward sustainability. The industry's focus on utilizing agricultural feedstocks contributes to a more circular and eco-friendly approach to packaging.
• Diverse Applications: Bioplastics are versatile and can be used in various packaging applications, including food packaging, bottles, bags, and films. Advancements in technology have expanded the range of products that can be made from bioplastics.

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

PBAT is marketed commercially as a fully biodegradable plastic. It has excellent biopolymer properties, such as high flexibility, good thermal stability, and a high degree of biodegradability. PBAT will be replacing LDPE; in mulch film application; the major application focus for most of the PBAT manufacturers is shopping bags due to stringent environmental regulations. PBAT has comparable tensile strength that makes it a good choice for carrying capacity in the application of shopping bags.

Sugarcane/Sugar beet to be the largest market in the global bioplastics & biopolymers market during 2022 to 2027

The sugarcane/sugar beet segment accounted for more than a quarter of the total market, in terms of volume, and is projected to register a CAGR of 19.3%during the forecast period. Bioplastics made from sugarcane ethanol have the same physical and chemical properties as regular plastic and maintain full recycling capabilities. The carbon footprint of sugarcane ethanol bioplastics is lower than traditional plastic because sugarcane absorbs CO2 from the air as it grows. Sugarcane-based bioplastics can be used to create bags, covers, tubes, films, wraps, and stretch films. A number of companies have started to switch to more environmentally friendly packaging.

Bioplastics & Biopolymers Market Key Players:

? NatureWorks LLC (US)

? Braskem (Brazil)

? 巴斯夫 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 Ltd. (Australia)

? Toray Industries, Inc. (Japan)

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NatureWorks LLC is a global-leading biopolymers supplier and innovator. It is jointly owned by Cargill & PTT Global Chemical. It manufactures biopolymers derived from renewable resources such as corn, starch, and vegetable oils. The company’s product line includes 2 series for extrusion/ thermoforming, 3 series for injection molding, 4 series for films & cards, 6 series for fibers & nonwovens, and 3D series for 3D printing. The company serves beauty & household, building & construction, food service ware, electronics & appliances, food & beverage, landscape & agriculture, medical, and hygiene industry.

Recent Developments

• In November 2022, TotalEnergies Corbion announced a long-term collaboration with BGF. Both companies entered into arrangement for application development and the supply of Luminy PLA.
• In October 2022, Braskem announced to expand its I'm greenTM biopolymer production capacity by 30%. The company is investing USD 60 million to expand the capacity. Braskem and SCG chemicals are the partners for the project. This partnership helps to double the current capacity for I'm greenTM products.
• In June 2021, BASF launched COSMOS-approved texturizing biopolymer Hydagen. The cold processable rheology modifier obtained from the tuber of the konjac plant native to Southwest China is suitable for aqueous systems such as gels, fluids, serums, and novel formats such as patches, jellies, and peel-off formulations.?
• In June 2022, Confoil, an Australian manufacturer of food packaging and BASF collaborated to develop certified compostable dual ovenable paper tray for packaging. These trays are made of lightweight paperboard and coated with BASF’s biopolymer Ecovio PS 1606.
• In September 2021, Braskem announced a partnership with Gelmart International, one of the world's largest manufacturers of underwear. Braskem is supplying I’m green EVA biopolymer to produce the world's first bra cup.