A Deep Dive into the Bioplastics Industry’s Profit Margin Analysis

Posted on 2024-05-14 by researchinsights in Chemicals, Industrial // 0 Comments

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

The global Bioplastics Industry was valued at 2,470.6 kilotons in 2021 and is anticipated to increase at a significant CAGR from 2022 to 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.

Biodegradable Plastic Market Insights

The global biodegradable plastic market size was estimated at 1,118.4 kilotons in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 16.2% from 2022 to 2030. Governments prohibiting the use of single-use plastic coupled with rising awareness among the public regarding the ill effects of plastic waste are among the key trends stimulating market growth.

Additionally, increasing the use of biodegradable plastic in packaging and agriculture is anticipated to supplement the growth of the segment. Non-decomposable plastic is a global issue. Governments around the world are tackling this problem by banning single-use plastic and promoting the use of biodegradable plastic. Moreover, consumers are willing to pay more for biodegradable plastic owing to their eco-friendly nature. The aforementioned factors, cumulatively, are providing a fillip to the market.

U.S. biodegradable plastic market is expected to rise significantly over the forecast period on account of the growing demand for bio-based packaging in food and consumer goods sectors. Bio bags and bio-based plastic have higher tensile strength, are eco-friendly in nature, and are convenient for use as compared to conventional plastic.

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

Polylactic Acid (PLA) Market Insights

The global polylactic acid market size was estimated at 295.1 kilotons in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 16.8% from 2022 to 2030. The growth of the PLA market is mainly driven by the growing demand for polylactic acid (pla) biodegradable resin in packaging across emerging economies such as China, India, Italy, and others. Bioplastics are environmentally friendly alternatives to traditional plastics, notably in flexible and rigid packaging applications, because they are bio-based, compostable, and biodegradable in nature. Bioplastics are materials in which all the carbon is derived from renewable Raw Materials such as algae, corn, sugarcane, bacteria, potatoes, seashells, and starch.

The growing transition toward developing energy-efficient vehicles and electric vehicles has pushed global automotive manufacturing companies toward including plastics in automotive components to reduce the overall weight of a vehicle. Thermoplastic plastic manufacturers are collaborating to develop plastics suitable for use in the automotive industry, which, in turn, is expected to drive the overall market growth.

PLA packaging provides an environment-friendly solution and helps in enhancing the appearance of the final product. PLA packaging has become an essential part of green packaging of various food products, which is likely to improve its growth prospects over the forecast period. The increasing utilization of bio-based plastics in flexible packaging is expected to fuel the growth of the polylactic acid market. Growing demand for food, on account of increasing global population, is one of the key trends augmenting the market growth.

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

Bioplastics Industry Data Book Competitive Landscape

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.

Key players operating in the Bioplastics Industry are:

Toyota Tsusho Corporation
Avantium
PTT MCC Biochem Co., Ltd.
An Phat Holdings
NatureWorks LLC

Check out more Industry Data Books, published by Grand View Research

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.

Matched content

Editor’s pick