CO2 Based Plastics Market Size is valued at US$ 3.2 Bn in 2024 and is predicted to reach US$ 9.8 Bn by the year 2034 at an 12.2% CAGR during the forecast period for 2025-2034.
The market for CO2 based plastics worldwide is showing promise as a remedy for the environmental issues related to conventional plastics. By using captured carbon dioxide emissions throughout the manufacturing process, CO2-based plastics lessen dependency on fossil fuels and help reduce greenhouse gas emissions. Mostly utilized in consumer items, textiles, automobile parts, and packaging, these plastics provide a sustainable substitute for traditional plastics. Stricter government restrictions, business sustainability initiatives, and growing environmental consciousness are major factors driving the CO2 based plastics market.
Additionally, leading companies in the sector are concentrating on innovation and creating new technologies to improve the scalability and efficiency of the manufacturing of CO2 based plastics. Increased R&D spending and collaborations between governments, universities, and businesses to hasten the commercialization of CO2 based plastics serve as further factors supporting the industry. However, the CO2 based plastics market faces a number of obstacles, such as high production costs, technological constraints, and competition from recycled and bio-based plastics.
Some of the Key Players in CO2 Based Plastics Market:
· ChangHua Chemical Technology Co., Ltd.
· Covestro AG
· Empower Materials
· LanzaTech
· Asahi Kasei Corporation
· Avantium
· Cardia Bioplastic
· Saudi Arabian Oil Co.
· NatureWorks LLC.
· Plastipak Holdings, Inc.
· TotalEnergies Corbion
The CO2 based plastics market is segmented by production process, type, and application. By production process, the market is segmented into electrochemistry, thermocatalysis, and microbial synthesis. By type, the market is segmented into polyethylene terephthalate (PET), polycarbonates, polyethylene carbonate (PEC), polyurethanes, polypropylene carbonate (PPC), and others. By application, the market is segmented into Packaging [Bottles, Trays, Films, Containers, Others], Textile Processing [Fibers, Non-Woven Fabrics], Construction Materials [Pipes, Insulation, Panels, Others] Electronic Components [Casings, Circuit Boards, Connectors, Others] Automotive Components [Interior Components, Structural Parts], and Others.
In 2024, the thermocatalysis segment dominated the CO2-based plastics market. It makes it possible for carbon dioxide to be efficiently and scalable converted into useful precursors for polymers. Thermocatalysis is the catalytic conversion of CO₂ into monomers (cyclic carbonates) or polyols (glycols), which are then utilized in the production of new environmentally friendly plastics like polycarbonates and polyurethanes under temperature control. Due to its ability to use collected CO₂ with minimal mineral input, thermocatalysis is the most pertinent method for reducing carbon emissions. Further propelling the use of the thermocatalytic method are the expanding regulatory incentives for low-emission materials and the growing interest in carbon utilization technology.
In 2024, the packaging segment dominated the global market for CO2 based plastics. The growing desire for environmentally friendly packaging options worldwide, along with mounting consumer and governmental pressure to cut carbon emissions and plastic waste, are the main drivers of this dominance. Food packaging, consumer products, and e-commerce are among the packaging applications that account for a sizable amount of the world's plastic use. Given their potential to reduce carbon footprints, the packaging industry has embraced CO2 based plastics as an environmentally friendly substitute. The market for CO2 based plastics has been largely driven by the packaging industry's emphasis on sustainability.
North America dominated the CO2 based plastics market in 2024 due to government-backed incentives and regulatory frameworks that favor carbon capture and utilization (CCU) technologies. The commercial viability of plastics made from CO2 is increased by the U.S. Inflation Reduction Act (IRA) and Canada's Clean Fuel Regulations, which offer significant tax credits and support to businesses that invest in the production of CCU-based polymers. An additional significant driver of the market in North America is the rapid expansion of private sector investments.
The market for CO2 based plastics in Asia Pacific is expanding as a result of rapid industrialization, government sustainability programs, and consumer demand for eco-friendly packaging and consumer goods. With investments in carbon capture and utilization projects that support the manufacturing of polymers, China, Japan, and South Korea are the top adopters. China is reportedly committed to reaching its peak carbon emissions by 2030 and becoming carbon neutral by 2060. This goal and incentives for green manufacturing work together to boost market expansion.
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Report Attribute |
Specifications |
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Market Size Value In 2024 |
USD 3.2 Bn |
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Revenue Forecast In 2034 |
USD 9.8 Bn |
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Growth Rate CAGR |
CAGR of 12.2% from 2025 to 2034 |
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Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2025 to 2034 |
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Historic Year |
2021 to 2024 |
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Forecast Year |
2025-2034 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Production Process, By Type, By Application, and By Region |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; Germany; The UK; France; Italy; Spain; Rest of Europe; China; Japan; India; South Korea; Southeast Asia; Rest of Asia Pacific; Brazil; Argentina; Mexico; Rest of Latin America; GCC Countries; South Africa; Rest of the Middle East and Africa |
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Competitive Landscape |
ChangHua Chemical Technology Co., Ltd., Covestro AG, Empower Materials, LanzaTech, Asahi Kasei Corporation, Avantium, Cardia Bioplastic, Saudi Arabian Oil Co., NatureWorks LLC., Plastipak Holdings, Inc., and TotalEnergies Corbion |
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Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Geographic competitive landscape. |
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Pricing and Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global CO2 Based Plastics Market Snapshot
Chapter 4. Global CO2 Based Plastics Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Porter's Five Forces Analysis
4.7. Incremental Opportunity Analysis (US$ MN), 2025-2034
4.8. Global CO2 Based Plastics Market Penetration & Growth Prospect Mapping (US$ Mn), 2024-2034
4.9. Competitive Landscape & Market Share Analysis, By Key Player (2024)
4.10. Use/impact of AI on CO2 Based Plastics Market Industry Trends
Chapter 5. CO2 Based Plastics Market Segmentation 1: By Type, Estimates & Trend Analysis
5.1. Market Share by Type, 2024 & 2034
5.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following Type:
5.2.1. Polycarbonates
5.2.2. Polyurethanes
5.2.3. Polypropylene Carbonate (PPC)
5.2.4. Polyethylene Carbonate (PEC)
5.2.5. Polyethylene Terephthalate (PET)
5.2.6. Others
Chapter 6. CO2 Based Plastics Market Segmentation 2: By Production Process, Estimates & Trend Analysis
6.1. Market Share by Production Process, 2024 & 2034
6.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following Production Process:
6.2.1. Electrochemistry
6.2.2. Microbial Synthesis
6.2.3. Thermocatalysis
Chapter 7. CO2 Based Plastics Market Segmentation 3: By Application, Estimates & Trend Analysis
7.1. Market Share by Application, 2024 & 2034
7.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2021 to 2034 for the following Application:
7.2.1. Packaging
7.2.1.1. Films
7.2.1.2. Bottles
7.2.1.3. Containers
7.2.1.4. Trays
7.2.1.5. Others
7.2.2. Automotive Components
7.2.2.1. Interior Components
7.2.2.2. Structural Parts
7.2.3. Construction Materials
7.2.3.1. Pipes
7.2.3.2. Panels
7.2.3.3. Insulation
7.2.3.4. Others
7.2.4. Electronic Components
7.2.4.1. Casings
7.2.4.2. Connectors
7.2.4.3. Circuit Boards
7.2.4.4. Others
7.2.5. Textile Processing
7.2.5.1. Fibers
7.2.5.2. Non-Woven Fabrics
7.2.6. Others
Chapter 8. CO2 Based Plastics Market Segmentation 4: Regional Estimates & Trend Analysis
8.1. Global CO2 Based Plastics Market, Regional Snapshot 2024 & 2034
8.2. North America
8.2.1. North America CO2 Based Plastics Market Revenue (US$ Mn) Estimates and Forecasts by Country, 2021-2034
8.2.1.1. US
8.2.1.2. Canada
8.2.2. North America CO2 Based Plastics Market Revenue (US$ Mn) Estimates and Forecasts by Type, 2021-2034
8.2.3. North America CO2 Based Plastics Market Revenue (US$ Mn) Estimates and Forecasts by Production Process, 2021-2034
8.2.4. North America CO2 Based Plastics Market Revenue (US$ Mn) Estimates and Forecasts by Application, 2021-2034
8.3. Europe
8.3.1. Europe CO2 Based Plastics Market Revenue (US$ Mn) Estimates and Forecasts by Country, 2021-2034
8.3.1.1. Germany
8.3.1.2. U.K.
8.3.1.3. France
8.3.1.4. Italy
8.3.1.5. Spain
8.3.1.6. Rest of Europe
8.3.2. Europe CO2 Based Plastics Market Revenue (US$ Mn) Estimates and Forecasts by Type, 2021-2034
8.3.3. Europe CO2 Based Plastics Market Revenue (US$ Mn) Estimates and Forecasts by Production Process, 2021-2034
8.3.4. Europe CO2 Based Plastics Market Revenue (US$ Mn) Estimates and Forecasts by Application, 2021-2034
8.4. Asia Pacific
8.4.1. Asia Pacific CO2 Based Plastics Market Revenue (US$ Mn) Estimates and Forecasts by Country, 2021-2034
8.4.1.1. India
8.4.1.2. China
8.4.1.3. Japan
8.4.1.4. Australia
8.4.1.5. South Korea
8.4.1.6. Hong Kong
8.4.1.7. Southeast Asia
8.4.1.8. Rest of Asia Pacific
8.4.2. Asia Pacific CO2 Based Plastics Market Revenue (US$ Mn) Estimates and Forecasts by Type, 2021-2034
8.4.3. Asia Pacific CO2 Based Plastics Market Revenue (US$ Mn) Estimates and Forecasts by Production Process, 2021-2034
8.4.4. Asia Pacific CO2 Based Plastics Market Revenue (US$ Mn) Estimates and Forecasts by Application, 2021-2034
8.5. Latin America
8.5.1. Latin America CO2 Based Plastics Market Revenue (US$ Mn) Estimates and Forecasts by Country, 2021-2034
8.5.1.1. Brazil
8.5.1.2. Mexico
8.5.1.3. Rest of Latin America
8.5.2. Latin America CO2 Based Plastics Market Revenue (US$ Mn) Estimates and Forecasts by Type, 2021-2034
8.5.3. Latin America CO2 Based Plastics Market Revenue (US$ Mn) Estimates and Forecasts by Production Process, 2021-2034
8.5.4. Latin America CO2 Based Plastics Market Revenue (US$ Mn) Estimates and Forecasts by Application, 2021-2034
8.6. Middle East & Africa
8.6.1. Middle East & Africa CO2 Based Plastics Market Revenue (US$ Mn) Estimates and Forecasts by country, 2021-2034
8.6.1.1. GCC Countries
8.6.1.2. Israel
8.6.1.3. South Africa
8.6.1.4. Rest of Middle East and Africa
8.6.2. Middle East & Africa CO2 Based Plastics Market Revenue (US$ Mn) Estimates and Forecasts by Type, 2021-2034
8.6.3. Middle East & Africa CO2 Based Plastics Market Revenue (US$ Mn) Estimates and Forecasts by Production Process, 2021-2034
8.6.4. Middle East & Africa CO2 Based Plastics Market Revenue (US$ Mn) Estimates and Forecasts by Application, 2021-2034
Chapter 9. Competitive Landscape
9.1. Major Mergers and Acquisitions/Strategic Alliances
9.2. Company Profiles
9.2.1. Asahi Kasei Corporation
9.2.1.1. Business Overview
9.2.1.2. Key Type/Service
9.2.1.3. Financial PerProduction Processance
9.2.1.4. Geographical Presence
9.2.1.5. Recent Developments with Business Strategy
9.2.2. Avantium
9.2.3. Cardia Bioplastics
9.2.4. ChangHua Chemical Technology Co.,Ltd.
9.2.5. Covestro AG
9.2.6. Empower Materials
9.2.7. LanzaTech
9.2.8. NatureWorks LLC.
9.2.9. Plastipak Holdings, Inc.
9.2.10. Saudi Arabian Oil Co.
9.2.11. TotalEnergies Corbion
CO2 Based Plastics Market by Production Process
· Electrochemistry
· Thermocatalysis
· Microbial Synthesis
CO2 Based Plastics Market by Type
· Polyethylene Terephthalate (PET)
· Polycarbonates
· Polyethylene Carbonate (PEC)
· Polyurethanes
· Polypropylene Carbonate (PPC)
· Others
CO2 Based Plastics Market by Application
· Packaging
o Bottles
o Trays
o Films
o Containers
o Others
· Textile Processing
o Fibers
o Non-Woven Fabrics
· Construction Materials
o Pipes
o Insulation
o Panels
o Others
· Electronic Components
o Casings
o Circuit Boards
o Connectors
o Others
· Automotive Components
o Interior Components
o Structural Parts
· Others
CO2 Based Plastics Market by Region
North America-
· The US
· Canada
Europe-
· Germany
· The UK
· France
· Italy
· Spain
· Rest of Europe
Asia-Pacific-
· China
· Japan
· India
· South Korea
· Southeast Asia
· Rest of Asia Pacific
Latin America-
· Brazil
· Argentina
· Mexico
· Rest of Latin America
Middle East & Africa-
· GCC Countries
· South Africa
· Rest of the Middle East and Africa
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
