Global Bioplastics Market to Surpass $44 billion by 2030: Environmental Concerns Contributing to Increasing Demand

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Industry Experts, Inc., has released its latest report on Bioplastics Market, which estimates volume demand for the same at 2.3 million tons in 2024 that is projected to reach 5.9 million tons by 2030 at a CAGR of 16.9% between the two years. In terms of value, the global market for Bioplastics is anticipated to post a robust 2024-2030 CAGR of 21% and reach a projected US$44.3 billion by 2030 from an estimated US$14.1 billion in 2024.

Some of the factors instrumental in driving demand for Bioplastics include increased awareness on environmental issues in order to mitigate carbon footprints, availability of sustainable options to conventional plastics, stringent rules and regulations implemented by governments for reducing plastic waste, Bioplastics forming lucrative substitutes for regular plastics due to fluctuating petroleum prices and high investments in research & development for developing versatile Bioplastics for wider applications. In addition, prohibition of single-use non-biodegradable plastics in developed and emerging economies, growing demand of Bioplastics in packaging industry and extensive use of biodegradable polymers in enhancing quality of soil are further factors that are propelling demand for them.

The global demand for Bioplastics in Packaging applications is the largest, since the materials are extensively used in the form of sheets & films to package a wide range of food & drink, household care and personal care products. The growing crisis with regard to disposal and management of plastic waste and consumer demands for eco-friendly packaging are compelling manufacturers to use Bioplastics as alternatives. However, the application of these materials in the Automotive & Transportation industry is anticipated to be the fastest growing, owing to their remarkable strength-to-weight ratio, durability, resistance to corrosion and self-heating qualities, enabling them to become more and more crucial for use in this sector. They contribute significantly to vehicular weight reduction and also form eco-friendlier alternatives to conventionally used plastics in this sector.

The report studies the Bioplastics market across all major regions including North America (The United States, Canada and Mexico), Europe (France, Germany, Italy, Russia, Spain, The United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific), South America (Argentina, Brazil and Rest of South America) and Middle East & Africa.

The market for major types of Bioplastics analyzed in this report include Biodegradable Bioplastics {Polybutylene Adipate Terephthalate (PBAT), Polybutylene Succinate (PBS), Polyhydroxyalkanoates (PHA), Polylactic Acid (PLA), Starch Blends & Other Biodegradable Bioplastics [Incl. Polycaprolactone (PCL) & Poly(lactide-co-glycolide) (PLGA)] and Non-Biodegradable Bioplastics {Bio-Polyamides (Bio-PA), Bio-Polyethene (Bio-PE), Bio-Polyethylene Terephthalate (Bio-PET) & Other Non-Biodegradable Bioplastics [Incl. Bio-Polypropylene (Bio-PP) & Bio-Polyethylene Furanoate (Bio-PEF)]} . The study also examines the market for Bioplastics by application, comprising Agriculture & Horticulture, Automotive & Transportation, Building & Construction, Consumer Goods, Electrical & Electronics, Packaging (Flexible Packaging & Rigid Packaging), Textiles and Other Applications (Incl. Adhesives & Coatings).

About Industry Experts, Inc
Industry Experts, Inc., ranks among the leading market research providers globally. The company's off-the-shelf and customized business intelligence reports offer strategic insights and valuable guidance to enable various stakeholders, such as corporate strategists, analysts, researchers and startups, among others, in obtaining valuable, crisp and unbiased current and future market data. For more information, contact us on +1-320-497-3787 or visit https://industry-experts.com/

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