DUBLIN--(BUSINESS WIRE )--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.
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.
For more information about this report visit https://www.researchandmarkets.com/r/qi4hx3
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900