Rising awareness and increasing demand for bioplastics and biopolymers are driving the Europe Bioplastics & Biopolymers Market in the forecast period, 2022-2027. Europe Bioplastics & Biopolymers market is anticipated to observe impressive growth during the forecast period, 2022-2027. The report "Bioplastics & Biopolymers Market by Type (Biodegradable, Non-Biodegradable/ Bio-Based), End-Use Industry (Packaging, Consumer Goods, Textiles, Agriculture & Horticulture, Automotive & Transport, Coatings & Adhesives), & Region - Global Forecast to 2027" size of bioplastics & biopolymers was USD 11.5 billion in 2022 and is projected to reach USD 27.3 billion by 2027, at a CAGR of 18.9%, between 2022 and 2027.
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The Important Factors of the Europe Bioplastics & Biopolymers Market
The physical characteristics of bio-based or partially bio-based materials, like bio-based PE or PET, are identical to those of their conventional counterparts. Additionally, these materials are mechanically recyclable in the current recycling streams, which has the added benefit of reducing a product's carbon footprint. The industry for bioplastics and biopolymers has created a variety of innovative technical and material solutions.
Numerous bio-based polymers provide cutting-edge material characteristics for better performance, including enhanced optical properties, increased material strength, increased breathability, and lower thickness. Innovative polymers like PLA, PHA, or bio-based PBS offer novel options by being biodegradable. Other contemporary material, such as polyethylene furoate (PEF), which is made entirely of biomaterials, is readily mechanically recyclable and has better barrier properties than comparable conventional polymers. However, the high cost associated with the production services, lack of awareness among the masses, and limited market coverage may hamper the growth of the market in the forecast period.
The Europe Bioplastics & Biopolymers market is segmented into Type, and End-Use Industry, Country, and Company
Based on type, the market is divided into Non-Biodegradable and Biodegradable. Biodegradable plastics separate quicker when they are disposed of and are retained once more in the normal framework. Likewise, the pace of decay of biodegradable plastics by microorganisms is a lot quicker than that of customary plastics.
Based on End-Use Industry, the market is divided into Packaging, Consumer Goods, Agriculture & Horticulture, Textile, Automotive & Transportation, and Others. Expanding environmental regulations and changes in consumer lifestyles have increased interest in bioplastics and biopolymers in the packaging industry. Due to their excellent strength and water resistance, plastics have been widely used in packaging. Food packaging, medical services packaging, corrective and personal care packaging, shopping bags, and other packaging applications all use bioplastics and biopolymers.
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Major companies operating in Europe Bioplastics & Biopolymers market are:
- BASF SE
- Novamont S.p.A.
- Total Carbon Pla
- Biome Bioplastics Limited
- Ecovia Renewables Inc.
- Bio-on S.p.A.
- Nurel Biopolymers
- HPPE LLC
- Specialty Biopolymers Corporation
- Meredian Holdings Group Inc.
“Bioplastics & Biopolymers are used more frequently for product packaging. It has been noted that numerous organizations in Europe have taken steps to incorporate sustainable packaging options. To lessen plastic's influence on the environment, recycling, and biodegradation are becoming more and more important. Packaging made from bioplastics and biopolymers enables sustainability while providing the required durability and strength, which is expected to contribute to the market growth through 2028” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
Europe accounted for third largest region, by value, during the forecast period
Europe accounts for a significant share in the bioplastics & biopolymers market due to the high consumer demand for sustainable packaging materials. The governments of the European countries are promoting the use of biodegradable plastics by setting up the infrastructure for composting of these plastics. The key companies producing biodegradable plastics in Europe include BASF (Germany), TotalEnergies Corbion PLA (Netherlands), Biome Bioplastics (UK), and Bio-On (Italy).
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Bioplastics & Biopolymers Market Key Players
NatureWorks LLC (US), Braskem (Brazil), BASF SE (Germany), TotalEnergies Corbion (Netherlands), Novamont S.P.A (Italy), Biome Bioplastics Limited (UK), Mitsubishi Chemical Group Corporation (Japan), Biotec Biologische Naturverpackungen GmbH & Co. (Germany), Plantic Technologies Limited (Australia), and Toray Industries, Inc. (Japan) are the key players in the bioplastics & biopolymers market.
NatureWorks LLC is a global-leading biopolymers supplier and innovator. It is jointly owned by Cargill & PTT Global Chemical. It manufactures biopolymers derived from renewable resources such as corn, starch, and vegetable oils. The company’s product line includes 2 series for extrusion/ thermoforming, 3 series for injection molding, 4 series for films & cards, 6 series for fibers & nonwovens, and 3D series for 3D printing. The company serves beauty & household, building & construction, food service ware, electronics & appliances, food & beverage, landscape & agriculture, medical, and hygiene industry. The company operates in North America, Europe, Japan, and Asia Pacific. The manufacturing facilities are in Blair, Nebraska, and the USA and have capacity of 150,000 metric tons of Ingeo biopolymer.