The global bioplastics market is expected to grow at a CAGR of 13.1% from 2022 to 2029 to reach USD 25.93 billion by 2029.
The growth of this market is mainly attributed to the consumer preference for biobased products over synthetic products, rising R&D in bioplastics, adoption of bioplastics by the packaging industry, and increased utilization of flexible packaging by the food & beverages industry. Moreover, regulations & legal acts supporting bioplastics usage and untapped markets in emerging economies hold attractive growth opportunities for players operating in the bioplastics market.
Here are the Top 10 Companies In Bioplastics Market
BASF SE (Germany)
BASF is a multinational chemical company that offers chemical-based solutions for various industries, including agriculture, automotive & transportation, construction, electronics, energy resources, and others. The company operates through six reportable business segments, namely, Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition &Care, and Agricultural Solutions. The company operates in the bioplastics market through its Materials business segment. The Materials segment is further divided into Performance Materials and Monomers. The Performance Materials division offers Polyurethanes, thermoplastics, and foam specialties for the transportation, construction, consumer goods industries, and industrial applications.
BASF operates in around 90 countries globally. The company has around 247 production sites all over the world. The company has R&D facilities in the U.S., Canada, Belarus, Romania, Brazil, India, Pakistan, North Korea, China, and Taiwan, among others. The company’s major subsidiaries are BASF Japan Ltd., BASF Canada Inc., and Alsachimie S.A.S (France), among others.
Incorporated in 2001 and headquartered in Victoria, Australia, Plantic Technologies is a bioplastic company that offers biodegradable and renewable sourced alternatives to conventional plastics based on corn. The company offers its Flexible, Skin, Paper, Barrier Sealants, Mono Layer, Rigid, and Pouch products. Unlike other bioplastics companies that utilize organic materials but whose polymers are still developed in refineries, Plantic’s polymer and its raw material are grown in a field. The entire process integrates the science of organic innovation with commercial and industrial productivity in a new way. The result is a broad range of immediate performance and cost advantages and long-term environmental and sustainability benefits.
Plantic Technologies has a direct presence through its principal manufacturing and R&D facility in Australia. The company also has sales offices located with the Kuraray Group. Kuraray operates production sites in Japan, the U.S., Europe, and Singapore.
Mitsubishi Chemical Holdings Corporation (Japan)
Founded in 2005 through a merger of Mitsubishi Chemical Corporation (Japan) and Mitsubishi Pharma Corporation (Japan), Mitsubishi Chemical provides high-performance chemicals, polymers, films, advanced moldings & composites, petrochemicals, and industrial gases. The company also offers pharmaceuticals, reagents and equipment, and APIs. The company operates in the bioplastics market through its Performance Products segment. The company offers sustainable polymers, including biodegradable resins, bio-engineering plastics, food packaging films, industrial films, and polyester films, among other bioplastic products.
Mitsubishi Chemical operates in more than 43 countries globally. The company has a direct presence in Europe, Japan, North America, Latin America, Japan, Africa, and Asia-Pacific. Mitsubishi Chemical has around 666 subsidiaries globally. The company has 265 subsidiaries and affiliates in Japan and 41 subsidiaries and affiliates outside Japan. Some of the major subsidiaries of the company are Mitsubishi Chemical Holdings Europe GmbH (Germany), Mitsubishi Chemical Holdings (Beijing)Co., Ltd. (China), and Mitsubishi Chemical Holdings America, Inc. (U.S.), among others.
DuPont de Nemours is engaged in developing specialty materials and solutions for electronics, transportation, building & construction, healthcare, and worker safety markets. The company operates through three reportable business segments, namely, Electronics & Industrial, Water & Protection, and Mobility & Materials. The company operates in the bioplastics market through its Mobility & Materials business segment. The company provides engineering thermoplastics, elastomers, filaments, and advanced films to engineers and designers in the transportation, electronics, renewable energy, industrial, and consumer end-markets.
The company has a direct presence in around 60 countries through its subsidiaries and manufacturing facilities in 25 countries. The company has R&D facilities in Switzerland and China and innovation centers in the U.S., Taiwan, Japan, Russia, Geneva, and China. The company operates in Canada, the U.S., Mexico, Australia, India, China, Indonesia, Japan, Korea, Malaysia, Singapore, Taiwan, Thailand, Vietnam, Belgium, Czech Republic, France, Germany, Greece, Hungary, Luxembourg, Italy, Pakistan, Poland, Saudi Arabia, Switzerland, Istanbul Brazil, Turkey, Kenya, and Egypt, among others through its subsidiaries and facilities.
PTT Global Chemical Public Company Limited (Thailand)
PTT Global Chemical is involved in synthesizing and producing olefins, aromatics, polymers, and biochemical products. The company is also involved in refining and providing integrated petroleum products. The company owns and operates production support facilities for liquid chemicals and oil & gas. The company operates in the bioplastics market through its Polymers segment. The company offers bags, cutlery, straws, cups, zip bags, flexible packaging, bio-PET bottles, among other products in the bioplastics market.
PTT Global Chemical operates in more than 80 countries globally. The company has four subsidiaries in Vietnam, China, the U.A.E., Indonesia, and Myanmar. The company has an indirect presence through its distributors in all the regions globally. PTT Global Chemical has established 19 commercial polymer plants in the UK, Poland, Australia, New Zealand, and Malaysia. Some of the company’s subsidiaries operating in the bioplastics market are biomeWorks LLC (U.S.), ENVICCO Co., Ltd (Thailand), HMC Polymers Co., Ltd (Thailand), Solution Creation Company Limited (Thailand), and GC Styrenics Company Limited (Thailand), among others.
Meticulous Research in its latest publication on global Bioplastics Market has predicted the growth of 13.1% during the forecast year 2022-2029
Founded in 1992 and headquartered in Hainaut, Belgium, Futerro is a bioplastics company that produces and develops Poly-Lactic Acid (PLA). PLA is a biopolymer used as a substitute for Petro-based plastics. The company provides its products for thermoforming, fibers and non-woven, film and coating, injection molding, bottles, roto-molding, and 3D-printing applications. The company offers biodegradable biopolymers under the brand name RENEW. Futerro SA is a subsidiary of Galactic Group (Belgium).
Biome Bioplastics Limited (subsidiary of Biome Technologies plc)
Biome Bioplastics is a manufacturer of natural plastics. The company offers biodegradable plastics in resins, mesh, coatings, non-woven materials, cords, and custom blends. Biome Technologies operates in two reportable business segments, namely, Bioplastics and RF Technologies. Biome Bioplastics offers products through the Bioplastics division of Biome Technologies plc (U.K.). Biome Bioplastics is a leading developer of highly-functional, naturally-based plastics.
The company has an indirect presence in Europe, North America, Latin America, Asia, and other countries through its distribution network. The company has one manufacturing facility in the U.K.
Founded in 2018 and headquartered in Gorinchem, Netherlands, Total Corbion produces polylactic acid (PLA). PLA is made from a biodegradable polymer and biobased renewable sources. The company offers its products through the Luminy PLA brand. Total Corbion Luminy portfolio includes products in four categories that can be used in various conversion technologies: High heat PLA for demanding applications, Standard PLA for general purpose applications, Low heat PLA typically used as seal layer, PDLA used either as a nucleating agent or to create full stereocomplex compounds. The Luminy PLA is used in rigid food packaging, flexible packaging, food service ware, durable goods, non-wovens, and 3D printing. The company has a direct presence through production facilities plants in Thailand, Grandpuits, France, and Rayong.
Green Dot Bioplastics, Inc. (U.S.)
Founded in 2011 and headquartered in Scenic Kansas, U.S., Green Dot Bioplastics is a biotechnology company that manufactures bioplastic and bio-composite pellets. It is a full-service bio-plastic company with a wide range of sustainable materials, including wood-plastic composites, starch bio-composites, and biodegradable composites. The company offers its products into four categories: Bio-composites, Natural Fiber Reinforced, Biodegradables, and Elastomers.
The company has a direct presence through corporate office, product development lab, and manufacturing plant in the U.S. across Emporia, Ottawa, and Onaga.
Saudi Basic Industries Corporation, known as SABIC, is a diversified manufacturing company active in chemicals and intermediates, industrial polymers, fertilizers, and metals. SABIC operates in the bioplastics market through its Petrochemicals & Specialties segment. The company offers co-polymers and bio-based resins in the bioplastics market. SABIC operates in more than 29 countries globally. The company has its direct presence in the U.S., Argentina, Mexico, China, India, Indonesia, Japan, Korea, Malaysia, Pakistan, Philippines, Singapore, Thailand, Turkey, Vietnam, Austria, Belgium, Czech Republic, Denmark, Finland, Georgia, Greece, Hungary, Italy, Spain, Sweden, Netherlands, the U.K., Kenya, South Africa, Tunisia, and the U.A.E.
SABIC operates through its distributors in Brazil, Canada, China, Australia, Austria, France, Azerbaijan, Germany, Italy, Poland, Czech Republic, Spain, Netherlands, and the U.K., among others. Some of its major subsidiaries are Jubail United Petrochemical Company (Saudi Arabia), Yanbu National Petrochemicals Company SJSC (Saudi Arabia), and Gulf Petrochemical Industries Company (Bahrain).
Popular Mentions: BIOTEC (Germany), Braskem S.A. (Brazil), AKRO-PLASTIC GmbH (Germany), FKuR Kunststoff GmbH (Germany), Novamont S.p.A. (Italy), Solvay SA (Belgium), Teijin Limited (Japan), Toray Industries, Inc. (Japan), and Toyota Tsusho Corporation (Japan)
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Authoritative Research on the Bioplastics Market – Global Opportunity Analysis and Industry Forecast (2022-2029)
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