THERMOPLASTIC STARCH (TPS) MARKET ANALYSIS

Thermoplastic Starch (TPS) MarketSize and Trends

The global thermoplastic starch (TPS) market size was valued at USD 200.56 million in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 7.88 % from 2022 to 2030. The global thermoplastic starch market is anticipated to be fueled by the increasing demand from emerging economies. Moreover, advancment in technology and increased investment in research and development are expected to further boost the market growth. The global market is also driven by strong demand for packaging from personal care and pharmaceuticals industry. Furthermore, growing population in emerging markets, combined with government policies in favor of biobased products, provides growth opportunities for this industry.

Global Thermoplastic Starch (TPS) Market Trends:

Growing use of starch in bio-medicine is a rising trend and this ongoing trend is expected to augment the market growth. Biomacromolecules such as starch have several applications in bio-medicine. For example, starch is a valuable raw material for bone regeneration. It is also a useful material in hemodialysis membranes. Biomaterials made of starch are environmentally friendly and non-toxic.

Increasing investment by key players in expanding production of TPS is another major trend observed in the market. For instance, in March 2019, Sealed Air and Kuraray invested in enhancing the production capacity for PLANTIC plant-based food packaging. Sealed Air Corporation invested in expanding the capacity at its Simpsonville facility to produce plant-based food packaging. This facility is the first in North America to produce materials made from PLANTIC plant- based resins and post-consumer plastics.