Sep 15, 2022 SOURCE: BusinessWire

Insights on the Bioplastic Composites Global Market to 2030 - Increasing Use of Bioplastic Composites in Consumer Goods is Driving Growth - ResearchAndMarkets.com

The "Bioplastic Composites Market By Fiber Type, By Polymer, By End-use Industry: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.

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.

Key Market Players

Mitsubishi Chemical Holdings Group
NatureWorks LLC
Corbion NV
Braskem
Owens Corning
Arkema S.A.
BASF SE
Dow
Solvay
Toray Industries, Inc.

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.

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