Dublin, Aug. 23, 2021 (GLOBE NEWSWIRE) -- The "Bioplastics & Biopolymers Market by Type (Non-Biodegradable/Bio-Based, Biodegradable), End-Use Industry (Packaging, Consumer Goods, Automotive & Transportation, Textiles, Agriculture & Horticulture), Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global bioplastics & biopolymers market size is projected to grow from USD 10.7 billion in 2021 to USD 29.7 billion by 2026, at a CAGR of 22.7% between 2021 and 2026.
Rising population and rapid urbanization in emerging economies and an increase in demand from end-use industries are expected to offer significant growth opportunities to manufacturers of bioplastics & biopolymers.
Packaging accounted for the largest share in the bioplastics & biopolymers market in terms of value, followed by textiles and consumer goods. Stringent regulations regarding environmental conservation, especially in developing economies, such as China, India, Brazil, Chile, Argentina, Indonesia, Thailand, Malaysia, and South Africa, are the major growth factors for the bioplastics & biopolymers market. Food & beverage manufacturers are increasingly switching to bioplastics & biopolymers to mitigate environmental and economic issues. Increasing prices of fuel and usage of fossil fuels for manufacturing conventional plastics have made manufacturers switch to bioplastics & biopolymers. In many regions, especially Europe and North America, stringent governmental regulations are forcing industries to reduce their carbon footprint, which has increased the demand for bio-based products in the packaging industry.
PLA is the most commonly used type of bioplastic & biopolymer. It is made from renewable resources; it is compostable as well as biodegradable. It is derived from corn starch (in the US and Canada), tapioca roots, chips, or starch (mostly in Asia), or sugarcane (in RoW). PLA is a versatile material that features excellent barrier properties, non-toxic nature, and is available in high-performance PLA grades that are ideal replacements for PS (polystyrene), PP (polypropylene), and ABS in more demanding applications.
Europe is estimated to be the largest market for bioplastics & biopolymers in 2021, in terms of value. Germany, Italy, France, Spain, and the UK are the major countries in the European bioplastics & biopolymers market. Germany was the largest bioplastics & biopolymers market in Europe in 2020. The demand for bioplastics & biopolymers in the country is consistently increasing due to the rising environmental concerns and the implementation of stringent regulations on the use of petroleum-based plastics.
The report offers insights into the bioplastics & biopolymers market in key regions. It aims at estimating the size of the bioplastics & biopolymers market during the forecast period and projects future growth of the market across various segments based on type, end-use industry, and region. The report also includes an in-depth competitive analysis of the key players in the bioplastics & biopolymers market, along with company profiles, MNM view, recent developments, and key market strategies.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Bioplastics & Biopolymers Market, by Type
7 Bioplastics & Biopolymers Market, by End-Use Industry
8 Bioplastics & Biopolymers, by Region
9 Competitive Landscape
10 Company Profiles
Green Dot Bioplastics
Mitsubishi Chemical Holdings Corporation
Ptt Mcc Biochem
Tianan Biologic Materials
Zhejiang Hisun Biomaterials
For more information about this report visit https://www.researchandmarkets.com/r/c6yqwn
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