factory supply Bio-plasticizers Market Status 2024

  • factory supply Bio-plasticizers Market Status 2024
  • factory supply Bio-plasticizers Market Status 2024
  • factory supply Bio-plasticizers Market Status 2024
  • What is the market size of bio-plasticizers?
  • Looking forward, IMARC Group expects the market to reach US$ 1.9 Billion by 2028, exhibiting a growth rate (CAGR) of 6.3% during 2023-2028. Bio-plasticizers refer to biologically derived additives used for improving the flexibility, softness, texture, functional properties and volatility of plasticized polymers.
  • How big is the global bioplastics market?
  • The Global Bioplastics Market reached USD 6.5 billion in 2022 and is expected to reach USD 55.5 billion by 2030 and is expected to grow with a CAGR of 31.9% during the forecast period 2023-2030. Bioplastic is a sustainable material extracted from renewable feedstocks and is an excellent alternative to petroleum-based plastics.
  • How will the bioplastics market change?
  • The bioplastics market is driven by the growing shift towards eco-friendly and energy-efficient packaging methods and a ban on single-use plastic. However, the high production cost of bioplastics will negatively impact the market.
  • What is the bioplastics market watch?
  • The insights provided in this report can benefit the entire plastics supply chain, offering valuable information for industry stakeholders. The Bioplastics Market Watch offers valuable updates on the status of bioplastics in the marketplace, including research labs across the country.
  • How bioplastics market is growing in Europe?
  • Currently, the region holds about 25% of production of bioplastics as per the data by the European Bioplastics. In addition, a robust automotive industry and the increasing demand for bio-based packaging products by various manufacturers in the region are expected to favor the market growth.
  • Why is bioplastic a growing market in agriculture & horticulture?
  • Furthermore, besides fostering plant growth, bioplastic decomposes naturally, enriching the soil in the process. Hence, the demand for such bio-based plastics is on the rise in agriculture and horticulture, which is poised to generate favorable growth prospects for the global market during the forecast period.

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