The North American bioplastics market is estimated to grow at a CAGR of 16.64% to reach US$20.952 billion in 2028 from US$7.133 billion in 2021.

NOIDA, UTTAR PRADESH, INDIA, August 25, 2023/EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the North American bioplastics market is projected to grow at a CAGR of 16.64% between 2021 and 2028 to reach US$20.952 billion by 2028.

The North America bioplastics market is expected to grow as a result of several factors such as increased urbanization, the capacity of bio-based goods to be renewed in a variety of industries, and rising demand from the flexible packaging sector.

Due to the greater resource availability, improved thermal resistance, increased flexibility & toughness, and other similar features, biodegradable plastics are widely used in a variety of industries, including packaging, agricultural, consumer products, and textile. Because of this, the demand for biodegradable polymers like polybutylene succinate (PBS), polypropylene adipate terephthalate (PBAT), and others has increased across a range of end-use sectors.

Additionally, throughout the forecast period, it is anticipated that rising government initiatives to reduce landfilling and expand composting infrastructure, such as the U.S. 2030 Food Loss and Waste Reduction Goal, will increase demand for the bio-based or compostable bags used in the collection of food scraps and other organic waste material.

To enhance their mechanical characteristics and meet the demands of various industries, BASF SE launched new additive solutions for the mechanical recycling of plastics under the IrgaCycle brand in September 2021. By 2030, this product will treble the production of polymers made by mechanical recycling.

Access sample report or view details: https://www.knowledge-sourcing.com/report/north-america-na-bioplastics-market

The North American bioplastic market is divided into biodegradable bioplastic and non-biodegradable bioplastic based on type. The biodegradable bioplastic has been further segmented into Polyester, Polylactic Acid (PLA), Polyhydroxyalkanoates (PHA), starch blends, and others (cellulose esters and others) whereas, non- biodegradable bioplastic is segmented into Bio-PE (polyethylene), Bio-PET (polyethylene terephthalate), Bio-PA (polyamide), and others Starch-based plastics are made from natural materials that are abundantly available, such as potato, tapioca, wheat, rice, and corn. They make an excellent replacement for traditional polymers due to the abundance of materials. Additionally, during the projection period, bioplastics are anticipated to benefit greatly from the rising usage of starch-based polymers in food packaging. Producing polylactic acid (PLA) requires the use of natural resources like cornflour and sugarcane.

The market is segmented into construction, packaging, agriculture, textile, automotive, FMCG, and others based on application. Food and beverage packaging as well as packaging for home care and personal care items are frequently made of biodegradable polymers. Leading biodegradable polymers used in packaging applications include polybutylene succinate (PBS), polybutylene adipate terephthalate (PBAT), and polylactic acid (PLA) based on starch. The main agricultural uses for biodegradable plastics include seed strips, mulch films, and protective bags. In farming, seed strips and belts have also been found to be useful. Nets, plant baskets, fruit protection bags, and pots are some more agricultural uses for biodegradable plastics. Some of the most popular biodegradable polymers in agriculture are PBAT, PHA, and PBS.

According to geographic segmentation, the market is divided into the United States, Canada, and Mexico. The packaging industry in the region is seeing a surge in demand for biodegradable plastics as a result of growing environmental concerns and efforts to minimize pollution globally. The increased demand for bio-based packaging in the food and consumer products sectors is predicted to cause a large increase in the U.S. market for bioplastics during the period of forecasting. As a result, it is anticipated that demand for bioplastics will increase over the projection period. Additionally, throughout the forecast period, it is anticipated that rising government initiatives to reduce landfilling and expand composting infrastructure, such as the U.S. 2030 Food Loss and Waste Reduction Goal, will increase demand for the bio-based or compostable bags used in the collection of food scraps and other organic waste material.

The research study includes coverage of BASF, Corbion, NatureWorks LLC, Braskem, Novamont S.p.A, Cardia Bioplastics, and Biome Bioplastics. among other significant players in the North America bioplastics market.

The market analytics report segments the North America bioplastics market as below:

• By Type

o Biodegradable bioplastic
• Polyester
• Polylactic Acid (PLA)
• Polyhydroxyalkanoates (PHA)
• Starch Blends
• Others (Cellulose Esters and others)

o Non-Biodegradable plastic
• Bio-PE (polyethylene)
• Bio-PET (polyethene terephthalate)
• Bio-PA (polyamide)
• Others

• By Application

o Construction
o Packaging
o Agriculture
o Textile
o Automotive
o FMCG
o Others

• By Geography

o United States
o Canada
o Mexico

Explore More Reports:

• Global Bioplastics Market: https://www.knowledge-sourcing.com/report/global-bioplastics-market

• Bio Based Chemicals Market: https://www.knowledge-sourcing.com/report/bio-based-chemicals-market

• Starch-Based Bioplastic Market: https://www.knowledge-sourcing.com/report/starch-based-bioplastic-market

Ankit Mishra
Knowledge Sourcing Intelligence
+1 850-250-1698
info@knowledge-sourcing.com
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