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Global Automotive Bioplastic Market Outlook 2028

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  • August 2020
  • Region: Global
  • Research Nester Pvt. Ltd
  • ID: 5136548
Ongoing Research Report

In the News
  • January 2020: AGRANA Beteiligungs-AG announced that it has acquired the total share of Marroquin Organic International Inc., a distribution company based out of the United States, and a long-standing partner of AGRANA Starke-GmbH. The acquisition move will help the company in expanding the distribution of its starch segment, which is also used to manufacture bioplastics.
  • June 2020: Anellotech, Inc. announced that the company would observe investment from R Plus Japan Ltd. For the development of its technology for recycling plastics, known as Plas-TCat™.

Introduction to Automotive Bioplastics

The bioplastics that are used in the automotive industry are usually referred to as the automotive bioplastics. The raw materials used in the manufacturing of bioplastics are usually from biological sources, such as corn starch, vegetable fats and oils, recycled food waste, woodchips, and others, instead of conventional sources, such as fossil fuel. Bioplastics possess several beneficial characteristics that make it suitable for use in the automotive industry. Bioplastics are known to have around 25% less weight than conventional plastics. As such when plastic attachments made of bioplastics are used in automotive vehicles, the overall curb weight of the vehicle reduces, thereby increasing vehicle efficiency.

Market Size and Forecast

The global automotive bioplastic market is thriving on the back of the growing sales and production of vehicles worldwide, backed by factors such as increasing urbanization and the rising disposable income of individuals. According to the statistics by International Organization of Motor Vehicle Manufacturers (OICA), sales of both commercial and passenger vehicles increased from 75 million in the year 2010 to 91 million in the year 2019, whereas production of vehicles increased from 77 million in the year 2010 to 91 million in the year 2019.

Growth Drivers

Growing Need Amongst Vehicle Manufacturers to Reduce Vehicle Curb Weight

According to the statistics by the United States Environmental Protection Agency (EPA), transportation sector contributed to the major share of 28% for the GHG emissions in the United States.

Increasing concern for vehicular emissions around the globe has raised the necessity amongst the vehicle manufacturers to find out alternatives that help to reduce the weight of the vehicle. A minor reduction in the weight of the vehicle reduces the pressure on the engine and further helps save the energy which it spends to carry the weight of the vehicle. Further, light weight vehicles are known to be more energy efficient and are also more secured in terms of their accidental ratings. Such a factor is anticipated to drive the growth of the global automotive bioplastic market over the forecast period.

By Region

On the basis of regional analysis, the global automotive bioplastic market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.

The market in North America and Europe is anticipated to grow significantly owing to the presence of several large vehicle manufacturing companies in the regions who are continuously investing to develop advance technologies or materials that contribute to the advancements in vehicular design and technology. On the other hand, the growing awareness amongst the vehicle manufacturers in the nations for the growing vehicular GHG emissions is also anticipated to drive the growth of the automotive bioplastic market in the regions.

The global automotive bioplastic market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
The Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Please note this is an ongoing research and will be delivered 8-9 working days after order confirmation. The TOC can be also be requested.

Companies Mentioned

  • Anellotech, Inc.
  • Archer Daniels Midland Company
  • BioSphere Plastic LLC
  • Mitsui Chemicals, Inc.
  • MetGen Oy
  • Danimer Scientific
  • Covestro AG
  • Sojitz Pla-Net Corporation
  • AGRANA Beteiligungs-AG
  • Other Notable Players

Please note the number of players as well as the addition/deletion can be done in the final deliverable as per the feasibility