Starch-Based Bioplastics Market Growth Outlook And Future Trends: Expanding Toward USD 3.6 Billion By 2030

EINPresswire/ -- According to the report, the global starch-based bioplastics market was valued at $1.4 billion in 2020 and is expected to reach $3.6 billion by 2030, registering a CAGR of 10.1% from 2020 to 2030.

Market Drivers, Restraints, and Opportunities:

- Drivers: Increased use of starch-based bioplastics in the packaging sector, abundant starch availability from natural sources, biodegradability, cost efficiency, and rising global oil prices.

- Restraint: Fluctuations in raw material costs.

- Opportunities: Growing government initiatives in developing economies to promote biodegradable plastics.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

Segment Insights:

- By Technology: The injection molding segment accounted for over half of the market share in 2020, driven by automation benefits and cost efficiency. It is also projected to grow at the fastest CAGR of 10.4% during the forecast period.

- By Application: Rigid packaging dominated in 2020 with over two-fifths share, supported by wide usage in packaging, consumer goods, and agriculture. The automotive segment, however, is projected to grow at the fastest CAGR of 10.7%, fueled by sustainability initiatives in the automotive industry.

Regional Outlook:

- Asia-Pacific, followed by Europe and North America, held the largest share in 2020, contributing nearly half of the global market. Government support for biobased products and the presence of a large consumer base are expected to drive the fastest CAGR of 10.8% in Asia-Pacific by 2030.

Key Market Players:

- Novamont S.p.A
- Toray Industries Inc.
- Yield10 Bioscience, Inc.
- BASF SE
- Biobag International
- Biome Bioplastics Limited
- Corbion N.V.
- Innovia Films Limited
- NatureWorks LLC
- Cardia Bioplastics Ltd.

𝐖𝐚𝐧𝐭 𝐭𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐒𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐚𝐥 𝐃𝐚𝐭𝐚 𝐚𝐧𝐝 𝐆𝐫𝐚𝐩𝐡𝐬, 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬' 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬: /purchase-options

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