Bioplastic Textiles Market: by Type (Polyamide, Polytrimethylene Terephthalate, Polyethylene Terephthalate, Polylactic Acid and Other), By End user (Clothing, Footwear, Home Textiles and Other), and Region - Global Analysis of Market Size, Share & Trends for 2019-2021 and Forecasts to 2030
Bioplastic Textiles Market to surpass USD 3.2 billion by 2030 from USD 1.1 billion in 2020 at a CAGR of 5.4% in the coming years, i.e., 2021-30.
A polymer that is made into a commercial product from a natural source or renewable resource is known as bioplastic. Bioplastics are a type of plastic manufactured from natural materials like vegetable oils and starches. Bioplastics are divided into three categories: Materials that are bio sourced and biodegradable. Materials derived from fossil fuels and renewable resources. Disposable products made of bioplastics include packaging, crockery, cutlery, pots, bowls, and straws. Bioplastics have a limited number of commercial applications. Renewable biomass sources such as maize starch, woodchips, sawdust, and others are used to make bioplastics. Bioplastics are used in textiles for apparel, medicine, and the automotive sector, among other things. Bioplastic textiles can be made from a variety of raw materials, including sugarcane, beet, maize starch, and cassava, among others. Textiles such as sports bags, medicinal textiles, and clothing include bioplastics.
The availability of environmentally acceptable bioplastic raw materials in the market is projected to attract a greater number of participants, resulting in an increase in the overall size of the bioplastic textiles market in the forecast period. Furthermore, the product has a competitive advantage in terms of feedstock availability and accessibility. Furthermore, bioplastics are compostable and, as a result, decompose in a matter of weeks, as opposed to traditional plastics. In the future years, the aforementioned trends are expected to drive the overall bioplastic textile market size.
Global Bioplastic Textiles market is segmented by type into Polyamide, Polytrimethylene Terephthalate, Polyethylene Terephthalate, Polylactic Acid and Other. Hot-rolled coils segment held the largest market share in the year 2020. The Polylactic acid segment is predicted to increase at a faster rate than the rest of the market. The segment of polylactic acid (PLA) is believed to have the largest market share. PLA has characteristics that are similar to those of polystyrene and polyethylene, therefore it might be used as a substitute. Sugarcane is another feedstock used in PLA manufacture, and it is highly preferred due to its environmentally benign features, low cost, and simplicity of access. The fermentation process is utilized to turn sugarcane into lactic acid, which is then used to make PLA.
Global Bioplastic Textiles market is divided by end-user into Clothing, Footwear, Home Textiles, and Other. Clothing segment held the largest market share in the year 2020. The presence of large-scale actors in the market is to blame for this. Puma, for example, has introduced bio polyester shirts, while Versace has an entire range of apparel called Ingeo, which is mostly composed of maize. In the approaching years, the clothing sector is likely to drive market expansion. Home textiles are another important end-user area for bioplastics. Bio-based products are rapidly making their way into home design products, and corporations are investing heavily to obtain an advantage over their competitors.
Application in clothing & textile industry and its ability to decompose
The market is being propelled forward by increasing acceptance of bioplastic materials in fabrics and home textiles, as well as rising government initiatives to promote the use of environmentally friendly products. Bioplastics are gaining popularity around the world due to their ability to decompose. As a result, the bioplastic textile industry's growth will be guided by this element. The widespread usage of the substance in fabrics and home textiles will fuel the bioplastic textile industry's growth in the coming years.
Increased demand for biodegradable products
Another factor driving the Bioplastic Textile Market is the rising demand for biodegradable products. Growing demand for bio-based products as a result of strict regulatory restrictions, as well as green credits granted by the government to encourage sustainable products, is expected to provide significant opportunities for the market in the forecast year. Increasing acceptance of bioplastic textile in footwear and garments, as well as increased adoption of bioplastics as an alternative to traditional plastics, are driving market expansion, aligning with green initiatives.
High cost associated with production process
Despite the fact that bioplastic textiles are gaining popularity around the world for a variety of applications, factors such as the high cost connected with the production process have hampered the global market's revenue growth. Because the prices of the raw materials and enzymes utilized are so expensive, lowering production costs remains a major problem for manufacturers in the industry. This constraint can also be ascribed to production scale, as bioplastic textiles' current worldwide capacity is still much smaller than that of traditional plastics, which can have a restraining influence on the global market.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Bioplastic Textiles market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The market in Europe is expected to hold highest CAGR over the forecasted period. This is mostly owing to the region's development of novel materials and rising demand for environmentally friendly and sustainable products, as well as tight regulatory regulations. The European market for bioplastic goods is increasing as a result of the region's drive to a greener economy. Government measures to promote bio-based products, expanding consumer awareness of bioplastics, and increasing bans on traditional plastics are likely to drive the fastest growth for bioplastic textiles in Asia Pacific.
|Market size value in 2020
|USD 1.1 billion
|Revenue forecast in 2030
|USD 3.2 billion
|CAGR of 5.4% from 2021 to 2030
|Base year for estimation
|Revenue in USD million and CAGR from 2021 to 2030
|Revenue forecast, company ranking, competitive landscape, growth factors, and trends
|Type, end-user and Region
|North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
|Key companies profiled
|BASF, Biome Bioplastics Ltd., Corbion N.V., Ercros S.A., FKuR, NaturePlast, Bio-on SpA, Gucci, DuPont de Nemours, Inc, and Other Prominent Players
The Bioplastic Textiles Market size was estimated at USD 1.1 billion in 2020 and is expected to reach 3.2 billion by 2030.
Key players: BASF, Biome Bioplastics Ltd., Corbion N.V., Ercros S.A., FKuR, NaturePlast, Bio-on SpA, Gucci, DuPont de Nemours, Inc, and Other Prominent Players
Polylactic Acid segment and Clothing segment are anticipated to hold the largest Bioplastic Textiles Market.
Drivers: Application in clothing & textile industry and its ability to decompose and Increased demand for biodegradable products
A polymer that is made into a commercial product from a natural source or renewable resource is known as bioplastic. Bioplastics are a type of plastic manufactured from natural materials like vegetable oils and starches. Bioplastics are divided into three categories: Materials that are bio sourced and biodegradable. Materials derived from fossil fuels and renewable resources. Disposable products made of bioplastics include packaging, crockery, cutlery, pots, bowls, and straws.
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