Bioplastics Industry Data Book Covers Biodegradable Plastic, Polylactic Acid (PLA), Bio-based Polyurethane (PU) and Biopharma Plastics Markets.
The economic volume generated by the bioplastics industry was estimated at approximately 2,470.6 kilotons in 2021.
Biodegradable Plastic Market Report Highlights
The global biodegradable plastic market size was estimated at USD 4.1 billion in 2021, and it is projected to reach USD 10.0 billion by 2030, rising at a CAGR of 16.2% CAGR (2022-2030).
- The PHA segment is projected to expand at a noteworthy CAGR of 10.2% in terms of revenue during the forecast period
- Packaging is the largest application segment that accounted for more than 60.0% of revenue in 2021, followed by the agriculture sector
- Europe is the largest region in terms of value and volume. However, Asia Pacific is expected to emerge as the fastest-growing region for biodegradable plastics
Polylactic Acid Market Report Highlights
The global polylactic acid market size was valued at USD 566.74 million in 2021, and it is expected to reach USD 2,709.61 million by 2030. The market is expected to expand at a CAGR of 16.8% CAGR (2022-2030).
- In 2021, packaging emerged as the largest end-use segment, contributing to over 36.7% share, owing to its wide usage in fresh food wrapping as well as manufacturing containers, jars, and bottles
- In 2021, North America accounted for more than 42.4% share of the overall revenue owing to the mounting demand for 3D printing filaments, as well as the accessibility of raw materials, which are promoting the product growth regionally
- In 2021, the U.S. dominated the regional polylactic acid market of the packaging end-use segment, contributing to 90.60% volume share, and is anticipated to maintain its dominance during the forecast period
- In 2021, China led the Asia Pacific market with nearly 49% share in terms of revenue, which is anticipated to grow owing to the rising demand for the product in end-use areas, including automotive & transport, agriculture, appliances, electronics, and textile
Access the Global Bioplastics Industry Data Book, 2022 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competition benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Bio-based Polyurethane Market Report Highlights
The global bio-based polyurethane market size was valued at 1,932.21 kilotons in 2021, and it is expected to reach USD 52.8 million by 2028. The market is expected to register a CAGR of 5.2% CAGR (2022-2030).
- In terms of revenue, the flexible foam segment accounted for the highest revenue share in 2020 and is expected to retain the dominance over the forecast period
- Bio-based PU foams witnessed a rise in demand as an efficient insulation material, leading to higher energy savings, owing to the rising need for green buildings
- These foams are widely used in spray form for sealing holes, cracks, joints, and boding other building materials, ultimately reducing the amount of conditioning or heat required inside the building
- Various strategic initiatives were recorded over the past few years to boost the growth of the market
- For instance, in September 2020, Covestro AG teamed up with FoamPartner, a Swiss company, to develop foams that are partially based on CO2
- Carbon dioxide is used as a raw material to produce polyol instead of fossil raw materials, such as crude oil
- CO2 polyol available under the Cardyon brand name is used as a raw material by FoamPartner to produce polyurethane foams for various parts used in the vehicle interior
- Asia Pacific was the largest regional market in 2020 owing to the presence of a well-established manufacturing base for electrical & electronics in China, Japan, and South Korea
Biopharma Plastics Market Report Highlights
The global biopharma plastics market size was valued at USD 4.34 billion in 2021, and it is expected to reach USD 11.29 billion by 2030. The market is expected to expand at a CAGR of 12.6% CAGR (2022-2030).
- In terms of revenue, the polyvinyl chloride polymer type segment accounted for a prominent share in 2021 and is expected to witness prominent growth over the forecast period
- The syringes application segment dominated the market and accounted for more than 20.0% share of the overall revenue in 2021. The increased demand for advanced healthcare services owing to surging incidences of cardiovascular diseases, orthopedic disorders, and endovascular diseases and expanding geriatric global population base is anticipated to drive the consumption of syringes in the market
- As of 2021, Asia Pacific accounted for the largest share of more than 30.0% in terms of revenue. The presence of a well-established manufacturing base and increased healthcare expenditure in China, Japan, and India are anticipated to provide further impetus to the regional market growth
- Major players are continuously working on developing their production plants owing to the increased usage of biopharma plastics in the healthcare industry. For instance, in April 2022, Iktos and Teijin Limited co-developed a new technology for small molecule drug discovery. Under this agreement, Iktos and Teijin Pharma will collaborate to develop new AI technology with the goal of enhancing and speeding up the drug design process
Order your copy of the 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
Competitive Landscape
Key players operating in the bioplastics industry are –
- BASF SE
- SABIC
- Solvay
- Dow, Inc.
- LG Chem
- Saint Gobain Performance Plastics
- LyondellBasell Industries Holdings B.V.
- DuPont de Nemours, Inc.
- Tekni-plex
- Toray Industries, Inc.
- Chevron Phillips Chemical Co.
- LLC
- Exxon Mobil Corporation
Grand View Research’s plastics 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.
Go through the table of content of Bioplastics Industry Data Book to get a better understanding of the Coverage & Scope of the study
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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