Bioplastics Industry Growth is driven by Rising Concern Regarding Plastic Waste All Over the Globe

Bioplastics Industry Data Book - Biodegradable Plastic, Polylactic Acid (PLA), Bio-based Polyurethane (PU) and Biopharma Plastics Market Size, Share, Trends Analysis, And Segment Forecasts, 2022 - 2030

Grand View Research’s bioplastics sector data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with an agricultural statistics e-book.

Access the Global Bioplastics Industry Data Book, 2022 to 2030, compiled with details like trade data, pricing intelligence, and competitive benchmarking.

Biodegradable Plastic Market Report Highlights

The global Biodegradable Plastic Market size was valued at 1,118.4 kilotons in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 16.2% from 2022 to 2030.

• PHA is projected to register significant growth during forecast period.
• Packaging was the largest application segment for biodegradable plastics in 2022 with a revenue share of more than 60.3%.
• Europe is the largest region in terms of value and volume. However, Central & South America is expected to emerge as the fastest-growing region for biodegradable plastics

Polylactic Acid (PLA) Market Report Highlights

The global Polylactic Acid (PLA) Market size was valued at 295.1 kilotons in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 16.8% from 2022 to 2030.

• North America dominated the global market in 2022. The North America regional market is characterized by strong demand for sustainable products
• The demand for bioplastics in North America is expected to be spurred by initiatives by the U.S. Department of Agriculture for promoting eco-friendly products
• Asia Pacific is expected to grow at the fastest CAGR of 22.2%, in terms of revenue, over the forecast period. The regional market is primarily driven by the growing product demand from key industries including automotive & transportation, electronics, textile, packaging, appliance, and medical
• Packaging dominated the end-use segment with a revenue share of over 36.0% in 2022. The growing demand for packaged foods, including frozen meals, cake mixes, and snack foods, is expected to increase the requirements for flexible packaging, thereby augmenting the growth of the packaging industry in the coming years

Order your copy of Free Sample of “Bioplastics Industry Data Book - Biodegradable Plastic, Polylactic Acid (PLA), Bio-based Polyurethane (PU) and Biopharma Plastics Market Size, Share, Trends Analysis, And Segment Forecasts, 2022 - 2030” Data Book, published by Grand View Research

Bio-based Polyurethane (PU) Market Report Highlights

The global Bio-based Polyurethane (PU) Market size was valued at 1,932.21 tons in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.2% from 2022 to 2030.

• Asia Pacific accounted for the largest regional share of over 38.0% in 2022 in terms of revenue. Asia Pacific market is likely to grow owing to the rising demand for the product from key industries including car and transportation, electronics, textile, packaging, appliance, and medical
• Flexible foams dominated the end-use segment in the market, accounting for over 50.0% share in terms of revenue, due to its several uses in automotive, furniture & mattress, footwear, textile, handbag & luggage, home appliances, and packaging end-use among others
• Building & construction dominated the end-use segment in the market accounting for over 33.0% in terms of revenue. Growing urbanization and industrialization, especially in emerging economies, such as China and India, coupled with growing infrastructure development activities is expected to boost the bio-based polyurethane in the building & construction industry in the coming years

Biopharma Plastics Market Report Highlights

The global Biopharma Plastics Market size was valued at 7,817.56 kilotons in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 12.6% from 2022 to 2030.

• Asia Pacific accounted for the largest revenue share of 30.67% of the global biopharma plastics industry in 2022 and is expected to continue its dominance over the forecast period. This can be attributed to the increasing R&D and rising demand for high-quality biopharma plastic devices and components from the oncology industry across the region
• Based on application segmentation, syringes accounted for a maximum share of 20.55% in 2022 and are likely to remain dominant over the forecast period. This is attributed to its compatibility with a wide range of biopharmaceutical products, including vaccines, antibiotics, insulin, and other injectable drugs. Moreover, the increasing demand for prefilled syringes to enhance surgical procedures is likely to boost the demand for biopharma plastics for manufacturing syringes
• In the polymer type segmentation, polyvinyl chloride (PVC) dominated the market in 2022, with a market share of 21.56%. This is attributed to the various properties of PVC including flexibility, compatibility, and durability, making it suitable for manufacturing depth filters for stem cell extraction. Due to its versatility, PVC can be easily molded into different shapes and sizes, making it ideal for various applications in the biopharma industry

Go through the table of content of Bioplastics Industry Data Book to get a better understanding of the Coverage & Scope of the study

Competitive Landscape

Companies in the market compete based on the quality of the products they offer and the technology used to produce bioplastics. Major players engage in mergers and acquisitions, expand their production facilities, develop infrastructure, invest in research and development facilities and find ways to vertically integrate their operations across the value chain. These initiatives help them meet ever-increasing global demand, ensure their competitiveness, improve their revenue & operations profits, develop state-of-the-art products and technologies, reduce production costs and expand their customer base.

Key players operating in the Bioplastics industry are:

• TEIJIN LIMITED
• TORAY INDUSTRIES, INC.
• Toyota Tsusho Corporation
• Avantium
• PTT MCC Biochem Co., Ltd.
• An Phat Holdings

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