The global bioplastic composites market was valued at $27.3 billion in 2020, and is projected to reach $73.9 billion by 2030, growing at a CAGR of 10.5% from 2021 to 2030.
Bioplastics are type of plastic materials that are manufactured with use of natural resources or from the renewable feedstocks such as corn, sugarcane, and cellulose.
The growth of the global bioplastic composites market is driven by increase in use of bioplastic composites in consumer goods, packaging, and healthcare end-use industries. Packaging is the biggest application market of bioplastic and is used in almost all types of packaging applications. Bioplastic composites are widely used in packaging applications, encompassing food & beverages, health care &cosmetics, chemical industry, and household cleaning products. Injection-molded bioplastics can also be used for packaging of CDs, disc, DVDs, and media packaging. The bioplastic packaging material should be made up of high quality materials to resist strong chemicals and extreme climatic conditions. Polymers used in injection molding bioplastics packaging are polypropylene, low-density polyethylene, and high density polyethylene. In medical applications, injection-molded bioplastics are widely used due to their lightweight. These bioplastics replace metals in medical devices application, which is expected to provide the growth opportunity for global bioplastic composites market.
However, poly (lactic acid) (PLA) and poly (hydroxybutyrate) (PHB) are used during production of bioplastic. These composites are derived from plant based materials due to which their properties are inferior as compared to synthetic materials used for production of plastics. Moreover, few bioplastic products are not decomposed easily in soil and seawater that in turn increases the risk of chemical breakdown during recycling, which is anticipated to hamper the market growth.
Bioplastics are also used in construction and housing applications. Polylactic acid (PLA) and Polyhydroxyalkanoate (PHA)-based carpets are used in house and buildings. Bio-based foams such as polyurethane are suitable for the production of upholstered furniture and PLA-based particle foams are used for building insulation. The cellulose-based blow-in insulation is widely used in the construction industry. Bio-PVC is used to manufacture water and sewage pipelines. Architects, engineers, and developers focus more on the usage of bioplastic components in building & construction owing to their strength, durability, appearance, and increase in number of building and construction projects due to rise in industrialization and use of green building technique. This is projected to provide growth opportunity for this market.
The bioplastic composites market analysis is done on the basis of fiber type, polymer, end-use industry, and region. Depending on fiber type, the market is divided into wood fiber composites and non-wood fiber composites. On the basis of polymer, the global bioplastic composites market is divided into natural polymer and synthetic polymer. The end-use industries covered in the study include transportation, electrical & electronics, building & construction, aerospace &defense, consumer goods, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in this report include Mitsubishi Chemical Holdings Group, NatureWorks LLC, Corbion NV, Braskem, FKuR, Arkema S.A., BASF SE, Dow, Solvay, and Toray Industries, Inc. The global bioplastic composite market report provides in-depth competitive analysis as well as profiles of these major players.
Bioplastics are type of plastic materials that are manufactured with use of natural resources or from the renewable feedstocks such as corn, sugarcane, and cellulose.
The growth of the global bioplastic composites market is driven by increase in use of bioplastic composites in consumer goods, packaging, and healthcare end-use industries. Packaging is the biggest application market of bioplastic and is used in almost all types of packaging applications. Bioplastic composites are widely used in packaging applications, encompassing food & beverages, health care &cosmetics, chemical industry, and household cleaning products. Injection-molded bioplastics can also be used for packaging of CDs, disc, DVDs, and media packaging. The bioplastic packaging material should be made up of high quality materials to resist strong chemicals and extreme climatic conditions. Polymers used in injection molding bioplastics packaging are polypropylene, low-density polyethylene, and high density polyethylene. In medical applications, injection-molded bioplastics are widely used due to their lightweight. These bioplastics replace metals in medical devices application, which is expected to provide the growth opportunity for global bioplastic composites market.
However, poly (lactic acid) (PLA) and poly (hydroxybutyrate) (PHB) are used during production of bioplastic. These composites are derived from plant based materials due to which their properties are inferior as compared to synthetic materials used for production of plastics. Moreover, few bioplastic products are not decomposed easily in soil and seawater that in turn increases the risk of chemical breakdown during recycling, which is anticipated to hamper the market growth.
Bioplastics are also used in construction and housing applications. Polylactic acid (PLA) and Polyhydroxyalkanoate (PHA)-based carpets are used in house and buildings. Bio-based foams such as polyurethane are suitable for the production of upholstered furniture and PLA-based particle foams are used for building insulation. The cellulose-based blow-in insulation is widely used in the construction industry. Bio-PVC is used to manufacture water and sewage pipelines. Architects, engineers, and developers focus more on the usage of bioplastic components in building & construction owing to their strength, durability, appearance, and increase in number of building and construction projects due to rise in industrialization and use of green building technique. This is projected to provide growth opportunity for this market.
The bioplastic composites market analysis is done on the basis of fiber type, polymer, end-use industry, and region. Depending on fiber type, the market is divided into wood fiber composites and non-wood fiber composites. On the basis of polymer, the global bioplastic composites market is divided into natural polymer and synthetic polymer. The end-use industries covered in the study include transportation, electrical & electronics, building & construction, aerospace &defense, consumer goods, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in this report include Mitsubishi Chemical Holdings Group, NatureWorks LLC, Corbion NV, Braskem, FKuR, Arkema S.A., BASF SE, Dow, Solvay, and Toray Industries, Inc. The global bioplastic composite market report provides in-depth competitive analysis as well as profiles of these major players.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the bioplastic composites market analysis from 2020 to 2030 to identify the prevailing bioplastic composites market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the bioplastic composites market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global bioplastic composites market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Fiber Type
- Wood Fiber Composites
- Non-Wood Fiber Composites
By Polymer
- Natural Polymer
- Synthetic Polymer
By End-use Industry
- Transportation
- Electrical and Electronics
- Building and Construction
- Aerospace and Defense
- Consumer Goods
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- Spain
- Italy
- Rest of Europe
- Germany
- U.K.
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Mitsubishi Chemical Holdings Group
- NatureWorks LLC
- Corbion NV
- Braskem
- Owens Corning
- Arkema S.A.
- BASF SE
- Dow
- Solvay
- Toray Industries, Inc.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: BIOPLASTIC COMPOSITES MARKET, BY POLYMER
CHAPTER 5: BIOPLASTIC COMPOSITES MARKET, BY FIBER TYPE
CHAPTER 6: BIOPLASTIC COMPOSITES MARKET, BY END-USE INDUSTRY
CHAPTER 7: BIOPLASTIC COMPOSITES MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Bioplastic Composites Market,' the bioplastic composites market was valued at $27.3 billion in 2020, and is estimated to reach $73.9 billion by 2030, growing at a CAGR of 10.5% from 2021 to 2030.Bioplastics refer to materials that are either biodegradable or non-biodegradable, derived from both renewable and non-renewable resources. The fusion of bio-resources such as plant derived natural fibers into bioplastic composite structures gain major importance in designing and engineering of bioplastic composites.
The natural fibers used in the bioplastics help enhance the specific properties such as stiffness &thermal behavior, reduce the price of the bioplastics, further improving the bio-based share of the bioplastics and refining the recyclability character of the bioplastics. Wood fiber bioplastic composites are composed of wood fibers that reduce the cost of bioplastics and enhance the strength & stiffness of the bioplastics. Furthermore, these composites are eco-friendly as compared to synthetic fiber composites. The manufacturing process of wood fiber composites require less energy as melting point of wood fibers are lower as compared to typical synthetic fibers. These composites find a lot of application by adjusting the wood fiber species, size, and concentration in the formulation. These are the major bioplastic composites market growth factors.
However, few bioplastic products are not decomposed easily in soil and seawater that in turn increases the risk of chemical breakdown during recycling, which is anticipated to hamper the market growth..
The main factors that drive the growth of non-wood fiber composites are the light weight of non-wood fiber composites, low cost, greater specific strength, less energy to production process, biodegradability, and superior sound reduction characteristics as compared to glass fibers. The bioplastic composites market is expected to show strong growth and most of the growth is expected to come from renewable-based polyolefin substitutes, which is anticipated to offer a lucrative opportunity for the bioplastic composites market.
The bioplastic composites market analysis is done on the basis of fiber type, polymer, end-use industry, and region.
Depending on fiber type, the market is divided into wood fiber composites and non-wood fiber composites. Wood fiber composites fiber type was the largest revenue generator, and is anticipated to grow at a CAGR of 10.6% during the forecast period. Hardwood and softwood are type of wood fiber composites derived mainly from oaks, pine, spruce trees, beeches, poplars, birches, and eucalyptus trees. Wood fiber bioplastic composites are composed of wood fibers that reduce the cost of bioplastics and enhance the strength & stiffness of the bioplastics.
On the basis of polymer, the global bioplastic composites market is divided into natural polymer and synthetic polymer. The synthetic polymer was the largest revenue generator, and is anticipated to grow at a CAGR of 10.4% during the forecast period. Polyethylene terephthalate, epoxy, and bio-PA are types of synthetic polymers that are used during formulation of bioplastics. Polyethylene terephtalate is a thermoplastic polymer generally used in the packaging industry and used in making plastic bottles. The polyethylene terephtalate is particularly resistant to fatigue, which is ideal for making plastic parts. Polyethylene terephtalate is conventionally produced from petroleum products, which causes environmental pollution and harms the ecosystem. So, alternative techniques are used to manufacture polyethylene terephtalate. This alternative technique uses bio feedstock to produce polyethylene terephtalate. Bio polyethylene terephtalate are tough and flexible polymers, being able to withstand impacts well. This makes it ideal for manufacturing packaging material.
The end-use industries covered in the study include transportation, electrical & electronics, building & construction, aerospace & defense, consumer goods, and others. In 2020, the transportation end-use industry is anticipated to grow at a highest CAGR of 11.5% during the forecast period. Bioplastic is widely used in various automotive applications. They reduce vehicle weight thereby reducing fuel consumption. Bioplastics are used in automotive owing to their valuable properties, such as high strength, heat resistance, high density, and improved exterior surface quality. They are durable, cost-effective, and sustainable as compared to petroleum-based plastics. Bio-based polyamide, bio-based polyesters, bio-PE, Bio-PET, Bio-PA11, and PLA blends are common types of bioplastics, used in automobiles. Furthermore, the bioplastics are used to manufacture seat cushions, glove box door, gear shift knob, steering wheel, fuel line sand connectors, accelerator pedals, horn buttons, carpet, dashboard, and body panel along with distributor heads.
Region-wise, the bioplastic composites market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific bioplastic composites market size is projected to grow at the highest CAGR of 11.8% during the forecast period and accounted for 30% of bioplastic composites market share in 2020. The bioplastic composites market has grown in Asia-Pacific, owing to increase in environmental awareness among the consumers. Presence of large population provides growth opportunities for the bioplastic composites market in Southeast Asia. Asia-Pacific is expected to experience huge development opportunities for the bioplastic composites market owing to the large PLA manufacturing.
Key players operating in the global bioplastic composites market include Mitsubishi Chemical Holdings Group, NatureWorks LLC, Corbion NV, Braskem, FKuR, Arkema S.A., BASF SE, Dow, Solvay, and Toray Industries, Inc.
In addition, the report provides in depth analysis of key-players in the bioplastic composites industry.
Companies Mentioned
- Mitsubishi Chemical Holdings Group
- NatureWorks LLC
- Corbion NV
- Braskem
- Owens Corning
- Arkema S.A.
- BASF SE
- Dow
- Solvay
- Toray Industries, Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 310 |
| Published | May 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 27.3 billion |
| Forecasted Market Value ( USD | $ 73.9 billion |
| Compound Annual Growth Rate | 10.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
