The U.S. bioplastics market size was USD 1.45 billion in 2022. The market is anticipated to rise at a CAGR of 19.3% over the analysis period. Bioplastics are used in various industries for manufacturing flexible, rigid packaging material, and textiles. The market expansion can be attributed to the surging product deployment for the production of automotive components. The industry expansion was negatively impacted due to the COVID-19 pandemic owing to a delay in the enforcement of government laws pertaining to single-use plastics. Fortune Business Insights™ provides this information in its research report, titled “U.S. Bioplastics Market, 2024-2030”.
The U.S. bioplastics market is experiencing a surge of interest as consumers and businesses alike become increasingly concerned about environmental sustainability. Bioplastics, derived from renewable biological resources like plant starches or microorganisms, offer a promising alternative to traditional petroleum-based plastics that contribute significantly to plastic pollution. This article explores the current landscape of the U.S. bioplastics market, analyzing its key drivers, materials, applications, and future outlook.
Segmentation:
Biodegradable Segment Accounted for Prominent Share Driven by Increasing Product Demand from Various Industries
By type, the market is segregated into non-biodegradable and biodegradable. The biodegradable segment recorded a major market share in 2022. This was driven by the increasing product demand across numerous industries including textiles, flexible packaging, agriculture, and others.
Flexible Segment Vanguards Owing to High Food Products Purchasing with Eco-packaging
By application, the market is fragmented into agriculture & horticulture, flexible packaging, rigid packaging, consumer goods, textiles, automotive & transportation, and others. The flexible segment dominates the market by holding the largest U.S. bioplastics market share owing to increasing food product purchase with green packaging.
Report Coverage:
The report provides an account of the major market trends. It further offers an overview of the strategies deployed by pivotal industry participants for strengthening their market share. It gives an account of the key factors boosting the market landscape in the country.
Drivers and Restraints:
Market Value to Rise Owing to Escalating Product Deployment in the Automotive Sector
The U.S. bioplastics market growth is being driven by the increasing usage of sustainable or recyclable plastic materials for the production of automotive components in the automotive & transportation industry. The usage of the product makes the component long-lasting and lightweight.
However, the high manufacturing cost of bioplastics may restrain market growth to some extent.
Source- https://www.fortunebusinessinsights.com/u-s-bioplastics-market-108650
Competitive Landscape:
Major Companies Launch Advanced Products for Revenue Expansion
Leading industry participants focus on product innovation. Companies also focus on social marketing strategies, partnership agreements, and acquisitions. These initiatives are being undertaken for their growth.
Key Industry Development:
- January 2023 – Arkema unveiled Rilsan Clear Rnew, Pebax Rnew elastomer, and Rilsan Polyamide 11 g during the MIDO show in Milan. The strategy would help the company in increasing product sales.
Market Drivers: A Convergence of Concerns
Several factors are fueling the growth of the U.S. bioplastics market:
- Environmental Consciousness: Public awareness of plastic pollution and its detrimental impact on ecosystems is driving a shift towards more sustainable materials. Consumers are actively seeking out eco-friendly alternatives, and bioplastics are emerging as a viable option.
- Government Regulations: Stringent government regulations restricting the use of conventional plastics, particularly single-use plastics, are pushing businesses to explore bioplastics as compliant alternatives.
- Technological Advancements: Technological advancements are enabling the production of bioplastics with improved performance properties, making them more competitive with traditional plastics.
- Biodegradable Options: The biodegradability of many bioplastics offers a significant advantage, especially for applications where plastic waste management is a challenge.
Bioplastics Materials: A Diverse Range of Options
The U.S. bioplastics market encompasses a diverse range of materials, each with unique properties and applications:
- Starch-Based Bioplastics: These are the most common type of bioplastic, derived from starches of corn, potato, or tapioca. They are biodegradable and compostable but may have lower strength and moisture resistance compared to traditional plastics.
- Cellulose-Based Bioplastics: Made from cellulose, a component of plant cell walls, these bioplastics offer good strength and heat resistance. They can be biodegradable or non-biodegradable depending on the processing methods.
- Bio-PET (Polyethylene Terephthalate): This bio-based alternative to conventional PET is derived from renewable resources like sugarcane. It offers similar performance properties to PET and can be recycled in existing PET streams.
- Polylactic Acid (PLA): Derived from corn starch or sugarcane, PLA is a versatile bioplastic with good strength, transparency, and biodegradability. It is commonly used in packaging, disposable products, and 3D printing filaments.
- Bio-based Polyamides (Nylons): These bioplastics offer high strength, heat resistance, and good barrier properties, making them suitable for demanding applications like automotive parts.
Bioplastics Applications: Spanning Various Industries
The U.S. bioplastics market is finding applications across a wide range of industries:
- Packaging: Bioplastics are increasingly used for food packaging, beverage bottles, and other packaging applications where sustainability is a key concern.
- Agriculture and Horticulture: Biodegradable mulch films, seedling pots, and plant containers made from bioplastics are gaining traction due to their environmental benefits.
- Consumer Goods: Disposable cutlery, plates, cups, and other single-use items made from bioplastics are becoming popular alternatives to conventional plastics.
- Textiles: Bio-based fibers derived from resources like bamboo or corn are used in clothing, footwear, and home textiles.
- Biomedical Applications: Biodegradable bioplastics are finding use in implants, sutures, and drug delivery systems due to their biocompatible properties.
- Automotive Industry: Bioplastics are being explored for car interiors, components, and bio-based composites for lightweight vehicles.
List of Key Players Mentioned in the Report:
- Novamont S.p.A. (Italy)
- Arkema S.A. (France)
- NatureWorks LLC (U.S.)
- Danimer Scientific (U.S.)
- TotalEnergies Corbion (Netherlands)
- Solvay S.A. (Belgium)
- LyondellBasell Industries Holdings B.V. (Netherlands)
- Roquette Frères (France)
- SABIC (Saudi Arabia)
- Dow Inc. (U.S.)
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
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