Thermoplastic Starch (TPS) Market, By Manufacturing Type (Extrusion, Injection Molding), By Application (Bags, Films, 3D Print, Others (Fibers, pots, clips and guides, cutlery)), and By Geography (North America, Latin America, Europe, Asia Pacific, Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Published In : Dec 2022

Code : CMI5389

Pages :128

Formats :

Excel and PDF

Industry : Advanced Materials

Market Challenges And Opportunities

Global Thermoplastic Starch (TPS) Market Drivers:

Increasing initiatives by government to promote the adoption of bio-degradable compound is expected to drive the global thermoplastic starch (TPS) market. Growing level of greenhouse emissions in the environment and the dumping of non-degradable waste in landfills is again projected to foster the market growth. For instance, in 2018, the European institutions adopted a revised EU waste package requirements for encouraging the Member States, to support the use of bio-based materials for the production of packaging materials. Further, the revised requirements made it mandatory across Europe to collect bio-waste separately, in certified collection containers, such as compostable bio-waste bags.

Growing demand from the packaging industries is also projected to propel market growth. For instance, in 2019, Agrana introduced AGENACOMP bioplastic, a 50:50 blend of thermoplastic starch and a biologically degradable polyester that has given rise to bioplastic compounds which is fully compostable at home. The TÜV-certified compost tests revealed 100% degradation without microplastic residues. Application areas for the new compound range from thin bags for vegetables and fruit to thicker carrier bags and even as packaging film

Global Thermoplastic Starch (TPS) Market Opportunities:

Growing technological advancement and innovation is projected to present lucrative growth opportunities over the forecast period. For instance, in December 2018, AGRANA announces the launch of its bioplastic AGENACOMP®. A 50:50 blend of thermoplastic starch and a biologically degradable polyester has given rise to a bioplastic compound which is fully compostable at home.

Growth of the construction industries across developing regions is other major factor expected to provide lucrative growth opportunities. The market growth is also attributed to the rapid urbanization and industrialization worldwide.

Global Thermoplastic Starch (TPS) Market Restraints:

Various technological constraints is expected to hinder the market growth of TPS. The key limitations to TPS are moisture variation and retrogradation lead to embrittlement during storage that is not required for packaging materials.

Exploitation of food sources as a raw material is another key factor expected to hamper the market growth. For instance, the food crisis is affecting over three billion people which is half the world’s population. The bioplastics industry contribute to this existing global food crisis by taking over large areas of land earlier used to cultivate crops used as food for human consumption.