The Global Compostable Biopolymers Market Size is predicted to witness a 14.72% CAGR during the forecast period for 2023-2031.
Compostable biopolymers are biodegradable plastics derived from natural sources such as corn starch, sugarcane, and potato starch. They are used to replace traditional plastics, which take years to degrade and frequently pollute the environment. The market for biodegradable biopolymers is a fast-expanding industry that is gaining popularity owing to its eco-friendliness and sustainability. Legislators are allowing the use of biodegradable polymers over traditional polymers to reduce carbon footprint. Several major automakers are now incorporating biopolymers into their vehicles; for example, Ford Motor Company is incorporating biopolymers for internal applications. Several factors are predicted to cause significant growth in the compostable biopolymers market in the coming years.
However, the COVID-19 pandemic has impacted the bioplastics and biopolymers market by disrupting supply chain and distribution networks, limiting industrial activities, and posing operational issues. Lockdown regulations all across the world hampered the transit of goods and the purchase of raw materials, and workforce shortages and restricted transport services hampered market growth even more.
Recent Developments:
- In November 2022, NatureWorks LLC, the world's leading producer of low-carbon PLA biopolymers derived from renewable resources, chose TTCL Public Co. Ltd. as the general contractor for its new Ingeo PLA production complex in Thailand. The new factory will be completely integrated and manufacture lactic acid, lactide, and polymers.
Competitive Landscape:
Some of the compostable biopolymers market players are:
- NatureWorks LLC
- BASF SE
- Total Corbion PLA
- Biome Bioplastics
- FKuR Kunstsoff GmbH
- Novamont S.p.A.
- Green Dot Bioplastics
- TIPA
- Cardia Bioplastics
- Danimer Scientific
Market Segmentation:
The Compostable Biopolymers Market is segmented on the basis of material type, degree of compostability, sales channel, and end-use. Material type segment includes polybutylene adipate terephthalate, polybutylene succinate, polylactic acid, polyhydroxyalkanoate, starch blends, cellulose films, and others. The degree of compostability segment includes home compostable and industrial compostable. Sales channel segment includes direct sales, online sales, and distributors. The end-user segment includes food packaging, disposable cutlery, bags, mulch films, agricultural applications, and others.
Based On End-Use, The Food Packaging Segment Is Accounted As A Major Contributor In The Compostable Biopolymers Market
The food packaging category is expected to hold a major share of the global Compostable Biopolymers Market in 2022. Packaging solutions based on bioplastics and biopolymers are increasingly being used to safeguard commodities during storage and transportation. These technologies provide better strength and durability while preventing breakage and contamination. They also have superior aesthetics and are utilized by brands for product branding and communicating product information to customers.
The food and beverage industries have boosted their use of bioplastics and biopolymers in packaging. Population expansion, rising consumer purchasing power, and a major increase in e-commerce are all factors driving this segment's growth. Businesses all around the world are taking steps to reduce packaging waste and control their carbon footprint by implementing ecologically friendly packaging solutions.
The Polylactic Acid Segment Witnessed Growth At A Rapid Rate
The polylactic acid segment is projected to grow at a rapid rate in the global compostable biopolymers market. The rising demand for biodegradable plastics has resulted in higher recycling and a reduction in waste production volume. Packaging, medical equipment, automotive, consumer products, construction, and textiles are key uses for the market, as are orthopedic devices, wound treatment, surgical sutures, and drug administration systems. These reasons are propelling market segment expansion.
In The Region, Europe's Compostable Biopolymers Market Holds A Significant Revenue Share
Europe's Compostable Biopolymers Market is expected to register the most increased market share in terms of revenue in the near future. The increased use of bioplastics and biopolymers in automotive, packaging and consumer goods industries supports regional market growth. The rise in environmental concerns and the implementation of severe ecological legislation has increased customer preference for bio-based and biodegradable products.
The Asia Pacific region is expected to increase significantly during the predicted period. Economic expansion, urbanization, and industrialization have all raised demand for the region's sector. Increased population, increased consumer awareness, and growing demand for sustainable packaging solutions, particularly from the e-commerce industry, drive market growth.
Compostable Biopolymers Market Report Scope:
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Report Attribute |
Specifications |
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Growth rate CAGR |
CAGR of 14.72 % from 2023 to 2031 |
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Quantitative units |
Representation of revenue in US$ Billion and CAGR from 2023 to 2031 |
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Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
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Segments covered |
Type of Product And Application |
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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; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
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Competitive Landscape |
NatureWorks LLC, BASF SE, Total Corbion PLA, Biome Bioplastics, FKuR Kunstsoff GmbH, Novamont S.p.A., Green Dot Bioplastics, TIPA, Cardia Bioplastics, and Danimer Scientific. |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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