Plant-based plastics, also known as green plastics, are a category of plastics derived from renewable biomass sources such as vegetable oils and starches. They provide an environmentally sustainable alternative to conventional petroleum-based plastics. Green plastics have gained popularity due to growing environmental consciousness and demands for eco-friendly products. Their biodegradability allows them to decompose more quickly when disposed of properly. Major types of green plastics include polylactic acid (PLA) made from corn starch, cellulose acetate produced from cellulose, and polyhydroxyalkanoates (PHA) derived from sugar cane and other plant lipids. They can be utilized in applications ranging from food packaging and textiles to 3D printing filaments.
Market Dynamics:
Growing environmental concerns about plastic waste and the negative impacts of extensive petroleum extraction are driving the demand for biodegradable and sustainable alternatives. Government support through regulations restricting single-use plastics along with subsidies for plant-based plastics production is encouraging manufacturers to shift toward green options. However, plant-based plastics still have higher production costs compared to fossil fuel-based equivalents which restrains their mass adoption. Ongoing research to develop cost-effective technologies for plastic polymer extraction from various biomass feedstocks could help address this challenge. Furthermore, increased partnerships across the value chain from agricultural raw material suppliers to plastic product brands offer new opportunities to promote the market potential of green plastics.
Key features of the study:
- This report provides in-depth analysis of the global the plant based plastic (green plastic) market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global the plant based plastic (green plastic) market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Corbion, BASF, TotalEnergies Corbion, Mitsubishi Chemical Corporation, NatureWorks LLC, Novamont S.p.A., Eastman Chemical Company, Braskem, Danimer Scientific, Green Dot Bioplastics, SABIC, Futerro, Genomatica, Toray Industries, Inc., Biome Bioplastics, Kaneka Corporation, Arkema, and PTT MCC Biochem Co., Ltd.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global the plant based plastic (green plastic) market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global The plant based plastic (green plastic) market
Detailed Segmentation-
- Source Of Raw Material Insights (Revenue, USD Bn, 2019 - 2031)
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- Corn Starch
- Sugarcane
- Cassava
- Others (Soy, Potato, Algae, etc.).
- Type Insights (Revenue, USD Bn, 2019 - 2031)
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- PLA (Polylactic Acid)
- PHA (Polyhydroxyalkanoates)
- Starch-Based Plastics
- Other
- End-use Industry Insights (Revenue, USD Bn, 2019 - 2031)
-
- Packaging
- Textile
- Automotive & Transport
- Electronics & Electricals
- Coatings & Adhesives
- Agriculture & Horticulture
- Others (Building & Construction, etc.)
- Regional Insights (Revenue, USD Bn 2019 - 2031)
-
- North America
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
- Key Players Insights
- Corbion
- BASF
- TotalEnergies Corbion
- Mitsubishi Chemical Corporation
- NatureWorks LLC
- Novamont S.p.A.
- Eastman Chemical Company
- Braskem
- Danimer Scientific
- Green Dot Bioplastics
- SABIC
- Futerro
- Genomatica
- Toray Industries, Inc.
- Biome Bioplastics
- Kaneka Corporation
- Arkema
- PTT MCC Biochem Co., Ltd.
