THERMOPLASTIC STARCH (TPS) MARKET ANALYSIS

Regional Analysis

Global Thermoplastic Starch (TPS) Market: Regional Insights

Regionally, North America is expected to dominate the global thermoplastic starch (TPS) market over the forecast period. Growth in this region can be attributed to the presence of major end-use industries, increasing industrialization, and the availability of advanced technologies. The United States is the world’s largest and most powerful economy, and the country had a per capita income of USD 59,610 in 2018. The country’s economy growth rate was 2.3% in 2017, which increased to 2.9% in 2018. Furthermore, in 2019, the economy grew by 1.9% in the third quarter of 2019.

At the same time, Asia-Pacific region is expected to account for the second largest share of the market during the forecast period. China is expected to remain the leader in this region, owing to the availability of cheap raw materials. Additionally, the growth of the construction and packaging industries is expected to boost the market growth in the region. The packaging industry in China is expected to perform a tremendous growth with a CAGR of nearly 6.8% to reach CNY 2 trillion during the forecast period.