Allied Market Research has released a new report that details the current state of the Bioplastic market and its general popularity within the packaging industry. The increase in demand for bioplastics has played a huge role here, especially when you look at the automotive industry. The demand for plastics that can be composted so that soil quality can be improved, is another driving factor. This is going to support the growth of revenue, into 2030.
The main challenge that the automotive industry is facing, is to try and reduce overall fuel consumption by lowering the weight of vehicles. Bioplastics are a very good way to make sure that this is achieved. Smart plastics, such as bio-PA and even bio-PP have all been embraced by car manufacturers to try and lower the environmental impact while also offering automotive vehicles a higher level of strength. The demand for plastics like this is set to create a lot of lucrative growth for companies that operate within the market.
Various reports have analysed the market and the leading players by analysing their market share, any new product launches, mergers, recent developments and acquisitions. The reports have also detailed the product profiles so that the data can be concentrated on the global bioplastic industry. Data like this has greatly supported the vast amount of growth that the industry is experiencing, with the compound growth rate currently being anticipated at 17.1% from 2022 to 2030. The market is set to hit 43.7 billion by 2030.
What are Bioplastics and are they Better than Fossil Fuel?
Bioplastics are essentially plastics that are produced from biomass. Biomass is essentially renewable feedstock and it can include everything from cellulose to sugarcane and even corn. There is a wide variety of feedstock available, and this is helping to rocket the market across the globe. The fact that bio-based plastics feature a much smaller carbon footprint when you compare them to fossil fuels is another bonus.
Is Now the Time to Invest in Bioplastics?
If you have not done so yet, then now is the time for you to invest in bioplastics, especially if you work in packaging design. If you look at the key factors that are involved with bioplastics, you will soon see that a lot of them stem from environmental awareness. If you are a professional who works in packaging design, then you may be aware of the rigid packaging applications that are forecasted and that they are said to account for over 40% of the market revenue. The consumption of drop-in bioplastics is also going to continue to dominate the market. Drop-in bioplastics are derived from renewable raw materials, and they are able to offer identical properties to their fossil fuel counterparts. Drop-in bioplastics are also able to offer some undeniable advantages. Some of them include low risk to the environment, benefits to the manufacturing process and even technical properties. Those who work in the packaging industry do not need to worry about buying new machinery, and this means that the general benefits can be capitalised on even more.
The Growth of Bioplastics
If you want to find out if bioplastics are the right solution for you or if you are thinking about making an investment, then simply take a look below to find some more data on the general growth of the industry.
· Rigid plastics are set to be the fastest-growing segment
· Europe is the highest consumer of bioplastics
· Asia Pacific was the largest producer of bioplastics in 2014
· Bio-PET 30 is going to experience growth of 25.7%
· Starch and polyester blends accounted for one-third of bioplastics in 2014
Conclusion
All in all, it is very exciting to think about the monumental impact that the world of bioplastics is going to bring to the packaging industry. It is incredibly exciting to think about the general impact that it is going to offer. Our packaging team are some of the most talented experts in the field when it comes to innovative designs, and we make it our personal mission to try and help you sell your products. We also keep them as protected as possible. If you are interested in learning more about how we can help you or if you want to enquire about the general solutions that we have to offer, then the only thing that you have to do is contact us today. You can give us a call at +44 (0)1482 638380 or you can contact us by clicking on this link. Our team would be happy to help
