Bioplastics Market Forecast to 2028

Report Code : TIPRE00003267 | Region : Global | Industry : Chemicals and Materials | Published Date : 31/Mar/2022
Bioplastics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Biodegradable and Non-Biodegradable) and Application (Packaging, Agriculture, Consumer Goods, Automotive & Transportation, Textiles, Building & Construction, and Others)

The bioplastics market is expected to grow from US$ 5,799.8 million in 2021 to US$ 13,806.1 million by 2028; it is estimated to grow at a CAGR of 13.2% from 2021 to 2028

Bioplastic is a moldable plastic material made from chemical compounds derived from or synthesized by microbes, such as bacteria, or genetically modified plants. Bioplastics are obtained from renewable resources, and some bioplastics are biodegradable.

Based on type, the global bioplastics market is segmented into biodegradable and non-biodegradable. The non-biodegradable segment led the market in 2020. Also, the market for the same segment is expected to grow at a faster rate during the forecast period.

The bioplastics market, based on geography, is segmented into North America, Europe, Asia Pacific (APAC), South and Central America (SCAM), and the Middle East and Africa (MEA). In 2020, Asia Pacific dominated the market. The growth of various end-use industries in Asia Pacific is driving the growth of the bioplastics market. Furthermore, the building & construction industry strongly contributes to the market's growth. For instance, in India, the construction industry is the second largest industry after agriculture, accounting for ~11% of the country's GDP. Moreover, according to The Asia-Pacific Research and Training Network on Trade (ARTNeT), Thailand is a major automobile exporting country, but Japanese FDI mainly drives the sector. Along with this, the automobile sector in China is growing rapidly, which would have a positive impact on the bioplastics market in the coming years. Moreover, the automotive industry is focusing on setting up new manufacturing and assembly lines in various countries, such as Australia, to suppress the dependence on imported passenger vehicles from other Asian countries.

 

Many industries, such as the chemicals & materials industry, faced unprecedented challenges due to the COVID-19 pandemic. The shortage of raw material and labor, the shutdown of factories, and other operational difficulties under COVID-19 safety protocols adversely affected the bioplastics market. The lockdown heavily impacted the supply and the production side of bioplastics, thus restraining the growth of the market. Due to the lockdown during the pandemic, the end-use industries reduced the demand for bioplastics. For instance, according to KPMG International, more than ~80% of the world’s auto supply chain is connected to China. In January 2020, China’s car sales dropped by 18% which led to a negative impact on the automotive industry, leading to decrease in demand for bioplastics. However, successful vaccination drives have further eased the current scenario, leading to a rise in business activities. The economies are reviving their operations, and the demand for bioplastics is expected to rise globally in the coming years. Key manufacturers have started resuming their operations, thus restoring the production capacity of bioplastics. Such factors have had a positive impact on the bioplastics market.

Teijin Limited; Toray Industries, Inc.; Sabic; Basf SE; Total Corbion PLA; Braskem S.A.; Biome Bioplastics; Mitsubishi Chemical Corporation; Novamont S.P.A.; and Natureworks LLC are among the leading players in the bioplastics market. These companies are adopting strategies, such as mergers and acquisitions and product launches, to expand their geographic presence and consumer bases.

The overall global bioplastics market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the global bioplastics market.

List of Companies- Global Bioplastics Market

• Teijin Limited

• Toray Industries, Inc.

• Sabic

• BASF SE

• Total Carbion PLA

• Braskem S.A.

• Biome Bioplastics

• Mitsubishi Chemical Corporation

• Novamont S.P.A.

• Natureworks LLC.

TABLE OF CONTENTS

1. Introduction

1.1 Study Scope

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

3.1 Scope of the Study

3.2 Research Methodology

3.2.1 Data Collection

3.2.2 Primary Interviews

3.2.3 Hypothesis Formulation

3.2.4 Macro-economic Factor Analysis

3.2.5 Developing Base Number

3.2.6 Data Triangulation

3.2.7 Country Level Data

4. Global Bioplastics Market Landscape

4.1 Market Overview

4.2 Porter’s Five Forces Analysis

4.2.1 Bargaining Power of Suppliers

4.2.2 Bargaining Power of Buyers

4.2.3 Threat of New Entrants

4.2.4 Competitive Rivalry

4.2.5 Threat of Substitutes

4.3 Expert Opinion

4.4 Ecosystem Analysis

5. Bioplastics Market — Key Market Dynamics

5.1 Key Market Drivers

5.1.2 Wide Application Scope of Bioplastics

5.1.3 Rising Demand for Eco-Friendly Plastics in Packaging Industry

5.2 Key Market Restraints

5.2.1 Higher Prices and Shorter Lifetime of Bioplastics

5.3 Key Market Opportunities

5.3.1 Stringent Government Laws & Regulations on Traditional Plastic Use

5.4 Future Trends

5.4.1 Increasing Focus on Innovations and Technological Advancements

5.5 Impact Analysis of Drivers and Restraint

6. Bioplastics – Global Market Analysis

6.1 Bioplastics Market Overview

6.2 Bioplastics Market –Revenue and Forecast to 2028 (US$ Million) (Kilotons)

6.3 Competitive Positioning – Key Market Players

7. Bioplastics Market Analysis – By Type

7.1 Overview

7.2 Bioplastics Market, By Type (2020 and 2028)

7.3 Biodegradable

7.3.1 Overview

7.3.2 Biodegradable: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million) (Kilotons)

7.4 Non-biodegradable

7.4.1 Overview

7.4.2 Non-biodegradable: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million) (Kilotons)

8. Bioplastics Market Analysis – By Application

8.1 Overview

8.2 Bioplastics Market, By Application (2020 and 2028)

8.2.1 Global Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million) (Kilotons)

8.3 Packaging

8.3.1 Overview

8.3.2 Packaging: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million) (Kilotons) (Kilotons)

8.4 Agriculture

8.4.1 Overview

8.4.2 Agriculture: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million) (Kilotons)

8.5 Consumer Goods

8.5.1 Overview

8.5.2 Consumer Goods: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million) (Kilotons)

8.6 Automotive and Transportation

8.6.1 Overview

8.6.2 Automotive and Transportation: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million) (Kilotons)

8.7 Textiles

8.7.1 Overview

8.7.2 Textiles: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million) (Kilotons)

8.8 Building and Construction

8.8.1 Overview

8.8.2 Building and Construction: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million) (Kilotons)

8.9 Others

8.9.1 Overview

8.9.2 Others: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million) (Kilotons)

9. Bioplastics Market – Geographic Analysis

9.1 Overview

9.2 North America: Bioplastics Market

9.2.1 North America: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)

9.2.2 North America: Bioplastics Market, by Type

9.2.3 North America: Bioplastics Market, by Application

9.2.4 North America: Bioplastics Market, by Key Country

9.2.4.1 US: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)

9.2.4.1.1 US: Bioplastics Market, by Type

9.2.4.1.2 US: Bioplastics Market, by Application

9.2.4.2 Canada: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)

9.2.4.2.1 Canada: Bioplastics Market, by Type

9.2.4.2.2 Canada: Bioplastics Market, by Application

9.2.4.3 Mexico: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)

9.2.4.3.1 Mexico: Bioplastics Market, by Type

9.2.4.3.2 Mexico: Bioplastics Market, by Application

9.3 Europe: Bioplastics Market

9.3.1 Europe: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)

9.3.2 Europe: Bioplastics Market, by Type

9.3.3 Europe: Bioplastics Market, by Application

9.3.4 Europe: Bioplastics Market, by Key Country

9.3.4.1 Germany: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)

9.3.4.1.1 Germany: Bioplastics Market, by Type

9.3.4.1.2 Germany: Bioplastics Market, by Application

9.3.4.2 France: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)

9.3.4.2.1 France: Bioplastics Market, by Type

9.3.4.2.2 France: Bioplastics Market, by Application

9.3.4.3 Italy: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)

9.3.4.3.1 Italy: Bioplastics Market, by Type

9.3.4.3.2 Italy: Bioplastics Market, by Application

9.3.4.4 United Kingdom: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)

9.3.4.4.1 United Kingdom: Bioplastics Market, by Type

9.3.4.4.2 United Kingdom: Bioplastics Market, by Application

9.3.4.5 Russia: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)

9.3.4.5.1 Russia: Bioplastics Market, by Type

9.3.4.5.2 Russia: Bioplastics Market, by Application

9.3.4.6 Rest of Europe: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)

9.3.4.6.1 Rest of Europe: Bioplastics Market, by Type

9.3.4.6.2 Rest of Europe: Bioplastics Market, by Application

9.4 Asia Pacific: Bioplastics Market

9.4.1 Asia Pacific: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)

9.4.2 Asia Pacific: Bioplastics Market, by Type

9.4.3 Asia Pacific: Bioplastics Market, by Application

9.4.4 Asia Pacific: Bioplastics Market, by Key Country

9.4.4.1 Australia: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)

9.4.4.1.1 Australia: Bioplastics Market, by Type

9.4.4.1.2 Australia: Bioplastics Market, by Application

9.4.4.2 China: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)

9.4.4.2.1 China: Bioplastics Market, by Type

9.4.4.2.2 China: Bioplastics Market, by Application

9.4.4.3 India: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)

9.4.4.3.1 India: Bioplastics Market, by Type

9.4.4.3.2 India: Bioplastics Market, by Application

9.4.4.4 Japan: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)

9.4.4.4.1 Japan: Bioplastics Market, by Type

9.4.4.4.2 Japan: Bioplastics Market, by Application

9.4.4.5 South Korea: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)

9.4.4.5.1 South Korea: Bioplastics Market, by Type

9.4.4.5.2 South Korea: Bioplastics Market, by Application

9.4.4.6 Rest of Asia Pacific: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)

9.4.4.6.1 Rest of Asia Pacific: Bioplastics Market, by Type

9.4.4.6.2 Rest of Asia Pacific: Bioplastics Market, by Application

9.5 Middle East & Africa: Bioplastics Market

9.5.1 Middle East and Africa: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)

9.5.2 Middle East and Africa: Bioplastics Market, By Type

9.5.3 Middle East and Africa: Bioplastics Market, by Application

9.5.4 Middle East and Africa Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)

9.5.5 Middle East and Africa: Bioplastics Market, by Key Country

9.5.5.1 South Africa: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)

9.5.5.1.1 South Africa: Bioplastics Market, By Type

9.5.5.1.2 South Africa: Bioplastics Market, by Application

9.5.5.2 Saudi Arabia: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)

9.5.5.2.1 Saudi Arabia: Bioplastics Market, By Type

9.5.5.2.2 Saudi Arabia: Bioplastics Market, by Application

9.5.5.3 UAE: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)

9.5.5.3.1 UAE: Bioplastics Market, By Type

9.5.5.3.2 UAE: Bioplastics Market, by Application

9.5.5.4 Rest of MEA: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)

9.5.5.4.1 Rest of MEA: Bioplastics Market, By Type

9.5.5.4.2 Rest of MEA: Bioplastics Market, by Application

9.6 South & Central America: Bioplastics Market

9.6.1 South & Central America: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)

9.6.2 South & Central America: Bioplastics Market, By Type

9.6.3 South & Central America: Bioplastics Market, by Application

9.6.4 South & Central America: Bioplastics Market, by Key Country

9.6.4.1 Brazil: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)

9.6.4.1.1 Brazil: Bioplastics Market, By Type

9.6.4.1.2 Brazil: Bioplastics Market, by Application

9.6.4.2 Argentina: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)

9.6.4.2.1 Argentina: Bioplastics Market, By Type

9.6.4.2.2 Argentina: Bioplastics Market, by Application

9.6.4.3 Rest of South & Central America: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)

9.6.4.3.1 Rest of South & Central America: Bioplastics Market, By Type

9.6.4.3.2 Rest of South & Central America: Bioplastics Market, by Application

10. Impact of COVID-19 Pandemic on Global Bioplastics Market

10.1 Impact of COVID-19 on Bioplastics Market

10.2 North America: Impact Assessment of COVID-19 Pandemic

10.3 Europe: Impact Assessment of COVID-19 Pandemic

10.4 Asia Pacific: Impact Assessment of COVID-19 Pandemic

10.5 Middle East & Africa: Impact Assessment of COVID-19 Pandemic

10.6 South & Central America: Impact Assessment of COVID-19 Pandemic

11. Company Profiles

11.1 Teijin Limited

11.1.1 Key Facts

11.1.2 Business Description

11.1.3 Products and Services

11.1.4 Financial Overview

11.1.5 SWOT Analysis

11.1.6 Key Developments

11.2 TORAY INDUSTRIES, INC.

11.2.1 Key Facts

11.2.2 Business Description

11.2.3 Products and Services

11.2.4 Financial Overview

11.2.5 SWOT Analysis

11.2.6 Key Developments

11.3 SABIC

11.3.1 Key Facts

11.3.2 Business Description

11.3.3 Products and Services

11.3.4 Financial Overview

11.3.5 SWOT Analysis

11.3.6 Key Developments

11.4 BASF SE

11.4.1 Key Facts

11.4.2 Business Description

11.4.3 Products and Services

11.4.4 Financial Overview

11.4.5 SWOT Analysis

11.4.6 Key Developments

11.5 Total Corbion PLA

11.5.1 Key Facts

11.5.2 Business Description

11.5.3 Products and Services

11.5.4 Financial Overview

11.5.5 SWOT Analysis

11.5.6 Key Developments

11.6 Braskem S.A.

11.6.1 Key Facts

11.6.2 Business Description

11.6.3 Products and Services

11.6.4 Financial Overview

11.6.5 SWOT Analysis

11.6.6 Key Developments

11.7 Biome Bioplastics

11.7.1 Key Facts

11.7.2 Business Description

11.7.3 Products and Services

11.7.4 Financial Overview

11.7.5 SWOT Analysis

11.7.6 Key Developments

11.8 Mitsubishi Chemical Corporation

11.8.1 Key Facts

11.8.2 Business Description

11.8.3 Products and Services

11.8.4 Financial Overview

11.8.5 SWOT Analysis

11.8.6 Key Developments

11.9 Novamont S.P.A.

11.9.1 Key Facts

11.9.2 Business Description

11.9.3 Products and Services

11.9.4 Financial Overview

11.9.5 SWOT Analysis

11.9.6 Key Developments

11.10 Natureworks LLC

11.10.1 Key Facts

11.10.2 Business Description

11.10.3 Products and Services

11.10.4 Financial Overview

11.10.5 SWOT Analysis

11.10.6 Key Developments

12. Appendix

12.1 About The Insight Partners

12.2 Glossary of Terms

LIST OF TABLES.

Table 1. Bioplastics Market –Revenue and Forecast to 2028 (US$ Million) (Kilotons)

Table 2. Global Bioplastics Market, by Type – Revenue and Forecast to 2028 (US$ Million) (Kilotons)

Table 3. North America Bioplastics Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 4. North America Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 5. US Bioplastics Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 6. US Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 7. Canada: Bioplastics Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 8. Canada Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 9. Mexico Bioplastics Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 10. Mexico Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 11. Europe Bioplastics Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 12. Europe Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 13. Germany Bioplastics Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 14. Germany Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 15. France Bioplastics Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 16. France Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 17. Italy Bioplastics Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 18. Italy Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 19. United Kingdom Bioplastics Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 20. United Kingdom Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 21. Russia: Bioplastics Market, by Type– Revenue and Forecast to 2028 (US$ Million)

Table 22. Russia: Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 23. Rest of Europe Bioplastics Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 24. Rest of Europe Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 25. Asia Pacific Bioplastics Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 26. Asia Pacific Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 27. Australia Bioplastics Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 28. Australia Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 29. China Bioplastics Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 30. China Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 31. India Bioplastics Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 32. India Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 33. Japan Bioplastics Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 34. Japan Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 35. South Korea Bioplastics Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 36. South Korea Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 37. Rest of Asia Pacific Bioplastics Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 38. Rest of Asia Pacific Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 39. Middle East and Africa Bioplastics Market, By Type– Revenue and Forecast to 2028 (US$ Million)

Table 48. South & Central America Bioplastics Market, By Type – Revenue and Forecast to 2028 (US$ Million)

Table 49. South & Central America Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 50. Brazil Bioplastics Market, By Type – Revenue and Forecast to 2028 (US$ Million)

Table 51. Brazil Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 52. Argentina Bioplastics Market, By Type – Revenue and Forecast to 2028 (US$ Million)

Table 53. Argentina Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 54. Rest of South & Central America Bioplastics Market, By Type – Revenue and Forecast to 2028 (US$ Million)

Table 55. Rest of South & Central America Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 56. Glossary of Terms, Global Bioplastics Market

List of Companies- Global Bioplastics Market

• Teijin Limited

• Toray Industries, Inc.

• Sabic

• BASF SE

• Total Carbion PLA

• Braskem S.A.

• Biome Bioplastics

• Mitsubishi Chemical Corporation

• Novamont S.P.A.

• Natureworks LLC.

Reason To Buy

• Highlights key business priorities to assist companies realign their business strategies.

• Features key findings and crucial progressive industry trends in the global bioplastics market, thereby allowing players to develop effective long-term strategies.

• Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets.

• Scrutinizes in-depth market trends as well as key market drivers and restraints.

• Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

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