by Bioplastic composites are non-toxic, renewable and biodegradable materials made from agricultural by-products and plant-based materials like sugarcane, wheat, corn starch and soy as an alternative to conventional plastics that are derived from petrochemical sources. They offer advantages like low weight and tailored mechanical properties for injection molding applications. The growing environmental concerns regarding plastic pollution and depletion of fossil fuels has accelerated the demand for green and sustainable alternatives like bioplastic composites.
The Global Bioplastic Composites Market for Injection Molding is estimated to be valued at US$ 46.35 Billion in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031.
Composed of natural fibers or starch and a Bioplastic Composites Market for Injection Molding Size polymer matrix, these materials exhibit properties similar to traditional plastics while being more eco-friendly. They are used in a variety of sectors including automotive, aerospace, agriculture, consumer goods and packaging.
Key Takeaways
Key players operating in the Bioplastic Composites market are Thermo Fisher Scientific, Inc., Custom Biogenic Systems, Chart Biomedical Co. Ltd., Merck KGaA, Barber-Nichols Inc., Praxair Technology, Inc., Linde LLC, Planer PLC, Cryologic Pty. Ltd., Charter Medicals, Nikkiso Cryo Inc., Cryogenic Control, and Haimen United Laboratory Equipment Development Co., Ltd.
The growing demand for sustainable packaging solutions from industries like food and beverages is fueling market growth. Strict government regulations regarding the use of conventional plastics are further augmenting demand.
Leading players are expanding their global footprint through collaborations and new product launches to cater to the growing needs of international markets like Europe and Asia Pacific. Developing nations are emerging as lucrative opportunities owing to rapid industrialization and economic development.
Market Key Trends
The rising popularity of biodegradable and compostable alternatives to single-use plastics due to stringent plastic waste management policies presents a major trend in the bioplastic composites industry. Ongoing research towards the development of new bio-based resins offering superior mechanical characteristics without compromising sustainability is another key trend. Adoption of advanced production technologies like 3D printing using bioplastic composite feedstock widens their applications in functional prototypes and final parts.
Porter’s Analysis
Threat of new entrants: Medium, Require high investments for manufacturing facilities and R&D activities.
Bargaining power of buyers: Medium to high, Large number of regional and global buyers.
Bargaining power of suppliers: Medium, Large number of material suppliers but niche market limits options.
Threat of new substitutes: Medium, New substitute materials can emerge but require certification and commercialization efforts.
Competitive rivalry: High, Developed global market with major players operating. Prices depend on R&D and manufacturing efficiencies.
Geographical Regions
North America accounts for the largest market share in terms of value currently. Major bioplastic composites producers in the region along with stringent regulations favoring sustainability drive higher adoption.
Asia Pacific region is poised to witness the fastest growth during the forecast period. Emerging economies like China, India, Indonesia promoting investments into bioplastics to replace petroleum-based plastics and meet sustainable goals. Developing manufacturing base will help accelerate regional market growth.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
