Bioplastic composites are advanced materials, which are derived from the renewable feedstocks such as corn, sugarcane, and cellulose. These composites are sustainable materials, which possess the potential to reduce 3070% of carbon dioxide emissions. Bioplastics are widely applicable in industries such as packaging, flexible packaging, textiles, consumer goods, agriculture, construction, electrical & electronics, and others, as these composites have zero toxicity. Furthermore, various governments across the world are adopting favorable regulations and policies to promote sustainability and biodegradability of bioplastics composites.
Market Analysis and Insights: Global Bioplastic Composites Market
Due to the COVID-19 pandemic, the global Bioplastic Composites market size is estimated to be worth US$ 25320 million in 2022 and is forecast to a readjusted size of US$ 36740 million by 2028 with a CAGR of 6.4% during the forecast period 2022-2028. Fully considering the economic change by this health crisis, Natural Polymer accounting for % of the Bioplastic Composites global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Transportation segment is altered to an % CAGR throughout this forecast period.
The Asia-Pacific bioplastic composites market for injection molding is expected to witness rapid growth during the forecast period, owing to rise in consumer awareness about the use of bioplastic, thus highlighting customer inclination towards the use of eco-friendly products. Moreover, government in Asia-Pacific has imposed various policies that encourage the use of bioplastic composites, which fuel the growth of the bioplastic composites market.
Global Bioplastic Composites Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Bioplastic Composites Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
Natural Polymer
Synthetic Polymer
Segment by Application
Transportation
Electrical & Electronics
Building & Construction
Aerospace & Defense
Consumer Goods
Others
By Company
Arkema
Mitsubishi Plastics
Huntsman
BASF
Toray Industries
Natureworks
Corbion
DowDuPont
Solvay
Braskem
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina