Description
Starch based Plastics Market
Global Starch-based Plastics Market to surpass USD 742 million by 2030 from USD 504 million in 2020 at a CAGR of 4.1% in the coming years, i.e., 2021-30.
Product Overview
Polylactic acid, polybutylene adipate terephthalate, polybutylene succinate, polycaprolactone, and polyhydroxyalkanoates are among the biodegradable or compostable plastics used in starch-based plastics. They have a variety of characteristics, including high water resistance, processing, and mechanical properties. They can also accommodate a variety of physical qualities including tensile strength and heat tolerance. As a result, it is frequently employed as a substitute for traditional plastics. Automotive and transportation, agricultural, packaging, and consumer goods are just a few of the end-user applications for starch-based polymers.
Market Highlights
Global Starch-based Plastics market is expected to project a notable CAGR of 4.1% in 2030.
The rising need for starch-based polymers in food packaging is a major factor driving the global industry forward. Because of their numerous qualities, such as longer shelf life, reduced food loss, and improved organoleptic aspects of food, starch-based polymers find use in food packaging and edible films. Environmental rules that apply to traditional plastic materials are also fueling the global market’s expansion. However, the market’s growth is hampered by the restricted production capacity and hydrophilic nature of starch-based polymers.
Global Starch-based Plastics Market: Segments
Starch Blended with PLA to grow with the highest CAGR during 2020-30
Global Starch-based Plastics market is segmented by type into Starch Blended with PLA, Starch Blended with PHA, and Others. Starch Blended with PLA segment held the largest market share in the year 2020. The increased use of starch combined with PLA-based bioplastic sheets in automotive, electronics, and agriculture applications is attributable to this rise. Package integrity, non-reactive with content, impermeable, versatile, and having high tensile strength are some of the advantages of using starch combined with PLA-based bioplastic sheets. They are also 100 percent biodegradable and compostable. Because of its biocompatibility, low toxicity, oxygen barrier, water vapor barrier, degrading qualities, and mechanical capabilities, starch-based Bioplastics are widely used in a variety of industries.
Packaging segment to grow with the highest CAGR during 2020-30
Global Starch-based Plastics market is divided by application into Agriculture and Horticulture, Automotive and Transportation, Packaging, Food and Beverage, Building and Construction, Electrical & Electronics, Textile, and Others. Over the forecast period, the Packaging segment is projected to expand at the fastest pace. Massive amounts of packaging wind up in landfills, as well as unsustainable packaging products, are a major environmental concern. The packaging sector is increasing its need for bioplastic goods in order to address an environmental issue. Moreover, during the forecast period, the packaging industry’s increased need for starch-based bioplastic flexible films would push the growth of this category. The flexible films have improved print and adhesive properties, allowing for high-speed lamination and good print quality.
Market Dynamics
Drivers
High demand for Starch-based Plastics and increasing disposable income
The high demand for starch-based bioplastics is due to their water permeability and heat preservation properties, which make them ideal for use in agriculture because they reduce soil contamination and improve sustainability, which in turn increases the use of renewable raw materials derived from agro-industrial waste. Market expansion is aided by rising disposable income, rapid worldwide economic growth, and increased use in medical applications such as controlled medication release, space-filled implants, and wound treatments.
Technological improvements and environmental concerns
Due to technology improvements, the medical industry is predicted to increase rapidly, meeting a market need. Mulch films are biopolymer films that are utilized in agriculture and horticulture. They keep hummus in place and deliver the right amount of carbon to the soil. Concerns about the environment and low labour costs are projected to drive market expansion.
Restraint
Removing and disposing of plastic remnants and restricted production capacity
The main issue with using non-biodegradable plastic films is that they pollute soil when buried in landfills; also, removing and disposing of these plastic remnants from the field before or after harvest is an expensive and time-consuming process. The market’s growth is hampered by the restricted production capacity and hydrophilic nature of starch-based polymers.
Global Starch-based Plastics Market: Key Players
Kuraray Co. Ltd.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Rodenburg Biopolymers
Biome Bioplastics Limited
Wittenburg Group
Nihon Cornstarch Corporation
Toray Industries, Inc.
Cardia Bioplastics
Multibax Public Co.
FuturaMat
Other Prominent Players
Global Starch-based Plastics Market: Regions
Global Starch-based Plastics market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. The expansion of this market in the APAC region is fueled by the increasing economies of Southeast Asian countries, rising disposable income, and rising population. Moreover, the rising demand for eco-friendly alternatives to traditional plastics from emerging economies such as China and India would propel the starch-based Bioplastic film market forward during the research period. Packaging is the most common application for bioplastic films in China and India, owing to the increased use of bottles, loose-fill, cups, pots, and blowers in both the domestic and commercial sectors.
Global Starch-based Plastics is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Starch-based Plastics Market report also contains analysis on:
Starch-based Plastics Segments:
By Type
Starch Blended with PLA
Starch Blended with PHA
Others
By Application
Agriculture and Horticulture
Automotive and Transportation
Packaging
Food and Beverage
Building and Construction
Electrical & Electronics
Textile
Others
Starch-based Plastics Dynamics
Starch-based Plastics Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Starch-based Plastics Market
Report Scope and Segmentation
Report Attribute Details
Market size value in 2020 USD 504 million
Revenue forecast in 2030 USD 742 million
Growth Rate CAGR of 4.1% from 2021 to 2030
Base year for estimation 2020
Quantitative units Revenue in USD million and CAGR from 2021 to 2030
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Type, application, and Region
Regional scope North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA)
Key companies profiled Kuraray Co. Ltd., Rodenburg Biopolymers, Biome Bioplastics Limited, Wittenburg Group, Nihon Cornstarch Corporation, Toray Industries, Inc., Cardia Bioplastics, Multibax Public Co., FuturaMat, and Other Prominent Players
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