BIOPLASTIC COMPOSITES MARKET FOR INJECTION MOLDING ANALYSIS

Bioplastic Composites Market For Injection MoldingSize and Trends

The Global bioplastic composites market for injection molding size was valued at US$ 36.21 Billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 11.1% from 2023 to 2030. The Global bioplastic composites market for injection molding is growing on the account of growing need for insulated products, such as door and window frames, roofs, and insulation panels. The market has also been bolstered by the rising awareness regarding environmental concerns and growing adoption of eco-friendly solutions. Other factors driving the market growth include growing investments in the construction industry, increasing demand for environmentally-friendly building materials, and the need to reduce dependency on petroleum-based plastics.

Global bioplastic composites market for injection molding Trends:

Growing investment by government in bioplastic

Government of various countries are investing heavily in the development of bioplastics. For instance, in December 2020, The South Korean government has announced the investment of three billion won for three years to come in order to help small and venture firms develop and commercialize technology related to bioplastics.

Increasing number of R &D is another trend

Key players in the market are entering into partnership for increasing R &D activities in the bioplastic field. For instance, in December 2018, Finnish research centre VTT has joined the international Think Beyond Plastic’s User Facility Network. The collaboration was announced at the New Plastics Economy Investor Forum on 7th December in Frankfurt.