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Bioplastics Market Size, Share & Industry Analysis, By Type (Biodegradable and Non-biodegradable), By Application (Rigid Packaging, Flexible Packaging, Textiles, Automotive & Transportation, Agriculture & Horticulture, Consumer Goods, and Others), and Regional Forecast, 2019-2026

Region : Global | Format: PDF | Report ID: FBI101940

 

KEY MARKET INSIGHTS

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The global bioplastics market size was USD 6.04 billion in 2018 and is projected to reach USD 19.93 billion by 2026, exhibiting a CAGR of 16.2% during the forecast period.

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Bioplastics are materials derived from renewable sources that have the potential to reduce plastic waste on the planet. Bioplastics are commonly sourced from renewable biomass sources, including cellulose, plant starch, natural sugars, vegetable fats and oils, and even from novel sources such as seaweeds, insects, and animals. All the bioplastics are not bio-degradable; however, a large volume of plastics can be easily and naturally degraded, which makes them superior to traditional plastics.


As an alternative to traditional plastics, the use of bioplastic is being promoted for applications where conventional plastics are utilized, including packaging, textile, electronics, automotive, and furniture. Owing to the increasing regulations imposed by numerous agencies on the usage of non-renewable and single-use plastics, various industries are focusing on the development and utilization of bioplastics for numerous purposes. Bioplastic is a field wherein research activities are being carried out on an enormous scale, both from individuals and corporates, to create a sustainable environment for future generations.


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End-users are shifting their preference from traditional plastics to bioplastics, creating lucrative opportunities for the market stakeholders. This will lead to the bioplastics market growth in the future years. The consumers also benefit from these bioplastics as they are produced from a various renewable sources and are environment friendly, causing less pollution.


MARKET DRIVERS


“Increasing Demand for Environmental-Friendly Plastics from Packaging Industry Will Lead to Market Growth”


Bioplastics have found applications in multiple industries, but the most prominent application of bioplastics is observed in the packaging industry as they have properties similar to traditional plastics. Bioplastics are utilized in both rigid packaging as well as flexible packaging. With an increase in e-commerce across the globe, a tremendous amount of packaging material is expected to be used in the future years. This bioplastic drive the market share in the packaging industry.


The demand for bioplastics is also increasing from industries such as food and pharmaceuticals. Besides this, the demand for ready-to-consume products is on the rise in both, developed and developing countries. Hence, the company’s manufacturing ready-to-consume products are seeking packaging materials that are not only safe and inert towards the packaged product but also have a low impact on the environment. Bioplastics are the material of choice for such companies.


SEGMENTATION


By Type Analysis


“Non-Biodegradable Plastics segment is Expected to Generate the Highest Revenue during the Forecast Period”


The market is segmented into biodegradable and non-biodegradable, based on type. Among these, the non-biodegradable segment accounts for the largest bioplastics market share owing to the increased use of this type of bioplastics in food packaging, automotive parts, and consumer goods. These types of plastics are utilized in the manufacture of carry bags and bottles, electronic equipment, and automotive housings. Additionally, these plastics are used as substitutes for high-performance glass components. Non-biodegradable plastics are preferred by electronics and automotive manufacturers due to the high strength and durability provided by them as compared to biodegradable plastics. Non-biodegradable plastics are further categorized into Bio-polyethylene terephthalate (Bio-PET), Bio-polyamide (Bio-PA), Bio-polyethylene (Bio-PE), Bio-polytrimethylene terephthalate (Bio-PTT), and other non-biodegradables. The dominant shareholder in these sub-segments is the Bio-PET due to its extensive application in packaging, consumer goods, and electronics industries.


Biodegradable plastics are majorly used in various applications including packaging, textiles, agriculture & horticulture, and consumer goods. These industries prefer biodegradable plastics as they offer required performance characteristics and are biologically sustainable. Biodegradable plastics are further categorized into starch blends, polylactic acid (PLA), polybutylene adipate terephthalate (PBAT), polybutylene succinate (PBS), polyhydroxyalkanoates (PHA), and other biodegradables. PLA holds a major share in the market between these sub-segments.


By Application Analysis


“Rigid Packaging Segment is Anticipated to Exhibit a Rapid Growth During the Forecast Period”


The market is categorized into rigid packaging, flexible packaging, textiles, automotive & transportation, agriculture & horticulture, coating & adhesives, consumer goods, and others based on application. Amongst these, the rigid packaging segment is expected to remain dominant in terms of bioplastics industry value during the forecast period. In rigid packaging applications, bioplastics have found traction due to shipping companies seeking sustainable yet sturdy packaging products, which can be utilized to carry a heavy load. Increasing utilization of flexible packaging in industries such as food and pharmaceuticals is expected to provide bioplastics growth opportunities for bioplastics during the forecast period.


The primary concern for automotive manufacturers is to reduce the fuel consumption and weight of the vehicle. Bioplastics are well suited for this purpose and, thus, have witnessed high demand from the automotive industry. Properties like high strength to weight ratio, durability, rust-proof, and self-healing have fueled the demand for bioplastics market in the automotive application.


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Bioplastic fibers are a better alternative to traditional polymer fibers in terms of textile manufacturing as they have better breathability and a lesser tendency to cause allergy and rashes. In addition, bioplastic fibers are utilized in agriculture & horticulture to create greenhouses and agriculture films, which are used as a cover on the agriculture fields serving various purposes such as moisture retention and safeguarding from insects. With the increasing awareness about the harmful effects of traditional plastics, to the farmers by multiple agencies, many have turned to bioplastics for these applications, thus attracting high bioplastics market revenue in the coming years.


Bioplastics have also gained traction in the manufacturing of consumer goods as various countries have made several restrictions on the usage of traditional plastics. The efforts are also supported by environmental protection agencies like the U.S. EPA, UNEP, and IPCC, which allocate various resources on creating awareness among the consumers.


REGIONAL ANALYSIS


Europe is a crucial hub for the bioplastics industry as it is a leading region in research & development and consumption of bioplastics. Currently, Europe holds about 19% of bioplastics production as per European Bioplastics. This is expected to cross 25% by 2022 owing to suitable policies adopted by the European state members such as Italy and France. The bioplastics market in Europe is booming due to the presence of a robust automotive industry along with increased demand for bioplastic based packaging products by various manufacturers of the region.


The Asia Pacific has the largest bioplastics production capabilities and regional development. According to a report by the European Bioplastics, about 56% of global bioplastic production was from the Asia Pacific in 2018. The bioplastics industry is expected to grow rapidly in this region as China would create a new foreign investment law to be applicable from January 2020. The booming packaging industry in the region shall further bolster the market size.


On the other hand, North America is projected to witness steady growth in the market due to the growing demand for lightweight automobile parts and electronics in the region. Consumer goods is another segment that shall fuel the market growth in North America owing to the high living standards of the people in the region, which prefer quality products instead of cheaper products.


North America Bioplastics Market Size, 2018

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Increased demand for bioplastics for agriculture & horticulture is one of the major factors influencing the South America bioplastics market growth. While the growth defining factor for the bioplastics market in the Middle East & Africa is the rise in the number of food product manufacturers in the region. These manufacturers are expected to seek sustainable packaging alternatives for traditional plastics as the global community places restrictions on the use of traditional plastics during the forecast period.


KEY INDUSTRY PLAYERS


“Key Market Players Are Expected to Strengthen the Market Position by Joining Hands to Create Improved Bioplastics”


The major producers of bioplastics are present in Europe and North America. Some of the key market players include NatureWorks, Total Corbion NV, Succinity GmbH, and PTT MCC Biochem. NatureWorks is a partnership of Cargill and PHH (an oil company in Thailand) for manufacturing PLA. Total Corbion NV is a joint venture of Total and Corbion, which also deals in the manufacture of PLA. On the other hand, Corbion has entered a joint venture with BASF to form Succinity GmbH, which manufactures Succinic Acid and its derivatives.


Other key players in the bioplastics market have also focused on developing a strong regional presence, distribution channels, but the most important strategy employed by the key participants is development of their product offerings.


List Of Key Companies Covered:



  • Novamont S.p.A.

  • Arkema

  • Matrica

  • Yield10 Biosciences

  • Solvay

  • LCY biosciences

  • NatureWorks

  • Total Corbion NV

  • Succinity GmbH

  • PTT MCC biochem

  • Roquette

  • Avantium

  • Toray

  • Lyondellbasell

  • BASF

  • Bioapply

  • Braskem

  • Biofase

  • Genecis

  • Trifilon

  • Kaneka Takasago

  • Danimer Scientific

  • Taghleef Industries

  • Other Key Players


REPORT COVERAGE 


"A growing trend is observed in the penetration of the bioplastics market across various industries such as packaging, automotive, and consumer goods"


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The report provides qualitative and quantitative insights on the market and detailed analysis by size & growth rate for all possible segments in the market. The market is segmented by type, application, and geography. Based on type, the market is classified into biodegradable and non-biodegradable. By application, the bioplastics industry is divided into rigid packaging, flexible packaging, textiles, automotive & transportation, agriculture & horticulture, consumer goods, and others. Geographically, the bioplastics industry has been analyzed across four major regions, which are North America, Europe, Asia Pacific, and the Rest of World. These regions are further categorized into countries.


An Infographic Representation of Bioplastics Market

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Along with this, the report provides an elaborative analysis of the global bioplastics market dynamics and competitive landscape. Various key insights presented in the report are the price trend analysis, recent industry developments, the regulatory scenario in crucial countries, macro, and microeconomic factors, SWOT analysis, and key industry trends, competitive landscape, and company profiles.


Report Scope & Segmentation








































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD Billion/ USD Million) and Volume (Million Ton/  Kiloton)



Segmentation



By Type



  • Biodegradable

    • Starch blends

    • PLA

    • PBAT

    • PBS

    • PHA

    • Other Biodegradables



  • Non – biodegradable

    • Bio-PET

    • Bio-PA

    • Bio-PE

    • Bio-PTT

    • Other Non-Biodegradables





By Application



  • Rigid Packaging

  • Flexible Packaging

  • Textiles

  • Automotive & Transportation

  • Agriculture & Horticulture

  • Consumer Goods

  • Others



By Geography



  • North America (U.S., Canada and Mexico)

  • Europe (Germany, France, UK, Italy, Spain, and the Rest of Europe)

  • Asia Pacific (China, India, Japan, South Korea, and the Rest of Asia Pacific)

  • Rest of World (Brazil, Argentina, and Others)



Key Industry Developments



  • In December 2019, Kaneka Takasago Factory up-scaled its PHBH production capacity to 5 KT per year along with approval of FDA for usage of PHBH as a food contact material.

  • In November 2019, Danimer Scientific set up a PHA manufacturing plant in Winchester, Kentucky, U.S. At this plant the company degrades cellulose powder with the help of sea water to form the precursor to the polymerization process. The PHA manufactured is trademarked as Nodax.

  • In January 2019, Taghleef Industries completed acquisition of Biofilm, a Latin American manufacturer of BOPP films for flexible packaging in industrial applications.

  • In December 2018, Total Corbion NV started production at its production facility in Rayong, Thailand. The facility has annual production capacity of 75 KT and uses non-GMO sugarcane grown locally to manufacture high heat PLA and PDLA


Frequently Asked Questions

Fortune Business Insights says that the market was valued at USD 6.04 Bn in 2018 and is projected to be worth USD 19.93 Bn by 2026.

Growing at a CAGR of 16.2%, the market will exhibit rapid growth in the forecast period (2019-2026)

The rigid packaging segment is expected to be leading for the market volume during the forecast period.

The rising demand for bioplastics from the packaging industry will drive the market growth.

Europe is expected to hold the highest share in terms of revenue.

Total Corbion N.V. and NatureWorks are the key players in the market and have adopted strategies such as acquisition for attracting high market revenue.

Rising demand for biodegradable packaging materials is a key market trend.

Bioplastics Market Size, Share and Global Industry Trend Forecast till 2026
  • Jan, 2020
  • 2018
  • 2015-2017
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