Bioplastics Market is to grow by USD 114.24 billion from 2022 to 2027- Technavio
NEW YORK, Oct. 23, 2023 /PRNewswire/ -- The bioplastics market is expected to grow by USD 114.24 billion from 2022 to 2027. In addition, the growth momentum of the market will progress at a CAGR of 27.53% during the forecast period, according to Technavio. The emergence of bio-based and renewable raw materials is notably driving the bioplastics market. However, factors such as the Cost-effectiveness of conventional plastic over bioplastics may impede market growth. The market is segmented by type (non-biodegradable and biodegradable), application (packaging and food service, agriculture and horticulture, CG and HA, automotive, and others), and geography (Europe, North America, APAC, Middle East and Africa, and South America).
We provide a detailed analysis of 20 companies operating in the bioplastics market including Arkema SA, BASF SE, Biome Bioplastics Ltd., Braskem SA, Cargill Inc., Corbion NV, DuPont de Nemours Inc., Evonik Industries AG, Finasucre SA, FKuR Kunststoff GmbH, Futerro SA, Koninklijke DSM NV, KURARAY Co. Ltd., Novamont Spa, Resonac Holdings Corp., Saudi Basic Industries Corp., Solvay SA, Teijin Ltd., Toray Industries Inc., and Toyota Tsusho Corp. The report offers an up-to-date analysis of the market, and to know the exact growth variance and the Y-O-Y growth rate, Request a FREE Sample Report.
Bioplastics Market 2023-2027: Company Analysis
Biome Bioplastics.- The company offers bioplastics such as BiomeHT90 and BiomeHTX (450). Also, under this segment, the company also offers different types of bioplastic products.
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Bioplastics Market 2023-2027: Segmentation
Type
- The market share growth by the Non-biodegradable segment will be significant during the forecast period. Non-biodegradable or partially bio-based durable plastics, such as bio-PET and bio-PE, are equal to their fossil counterparts, but they support reducing the carbon footprint of the products. Moreover, in the residential and commercial sectors, there is growing use of bioplastics which are not biodegradable.
Geography
- Europe is estimated to contribute 34% to the growth of the global market during the forecast period. In Europe, the two largest markets for bioplastics are Italy and Germany. Medium and large businesses account for most of the firms present. Consumer goods, packaging, automobiles, and buildings are the main end-user markets in Germany.
- North America, APAC, Middle East and Africa, and South America
Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View FREE PDF Sample Report
Related Reports:
The biopolymers and bioplastic market is estimated to grow at a CAGR of 14.36% between 2022 and 2027. The market size is forecasted to increase by USD 75.14 billion.
The compostable plastic market size is estimated to grow at a CAGR of 15.54% between 2022 and 2027. The market size is forecast to increase by USD 1,905.33 million.
Bioplastics Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 27.53% |
Market growth 2023-2027 |
USD 114.24 billion |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
25.74 |
Regional analysis |
Europe, North America, APAC, Middle East and Africa, and South America |
Performing market contribution |
Europe at 34% |
Key countries |
US, China, Japan, Germany, and the UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Arkema SA, BASF SE, Biome Bioplastics Ltd., Braskem SA, Cargill Inc., Corbion NV, DuPont de Nemours Inc., Evonik Industries AG, Finasucre SA, FKuR Kunststoff GmbH, Futerro SA, Koninklijke DSM NV, KURARAY Co. Ltd., Novamont Spa, Resonac Holdings Corp., Saudi Basic Industries Corp., Solvay SA, Teijin Ltd., Toray Industries Inc., and Toyota Tsusho Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Type
Market Segmentation by Application
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base comprises enterprises of all sizes, including over 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
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