PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1437531
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1437531
Bioplastic Textile Market size was valued at USD 1,123.60 Million in 2023, expanding at a CAGR of 7.5% from 2024 to 2032.
Bioplastics are polymers that typically come from renewable biomass, even if they don't match the requirements for biodegradability or compostability. Among the bioplastics utilized in the textile industry are polylactides, poly(glycolide), and polyamides. A variety of textile goods, such as clothing and shoes, sports bags, medical textiles, and automotive parts, may be made using bioplastic as a material.
Bioplastic Textile Market- Market Dynamics
Technological advancement propels the market growth
The market for bioplastics is also strongly driven by technological advancement. Technological developments in polymer science, material engineering, and manufacturing techniques have resulted in bioplastics that exhibit performance and cost levels that are increasingly on par with those of petroleum-based alternatives. The mechanical qualities of bioplastics, such as their tensile strength and heat resistance, have been enhanced by advancements in biopolymer formulations. Furthermore, new uses for bioplastics are emerging from the expanded research and development in this area, which goes beyond packaging to include the consumer electronics, automotive, and construction industries. Businesses are putting money into cutting-edge technology to create bioplastics that are competitively priced and have excellent performance. It is anticipated that this trend will continue, opening the door for bioplastics to be used more widely in a variety of sectors.
Bioplastic Textile Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 7.5% over the forecast period (2024-2032)
Based on material segmentation, the Polyethylene Terephthalate (PET) category dominates the market
Based on the source segmentation, the Corn Starch segment held the largest market share in 2023
Based on application segmentation, the Home Textiles segment is expected to dominate the market over the forecast period
Based on region, the Asia Pacific was the leading revenue generator in 2023
The Global Bioplastic Textile Market is segmented based on Material, Source, Application, and Region.
The market is divided into five categories based on material: Polyethylene Terephthalate (PET), Polyamide (PA), Polytrimethylene Terephthalate (PTT), Polylactic Acid (PLA) or Polylactide and Others. The Polyethylene Terephthalate (PET) category dominates the market. Bio-based PET aims to reduce dependency on fossil fuels and decrease the carbon footprint associated with traditional PET production. Thereby, driving the segment growth.
The market is divided into five categories based on the source: Corn Starch, Beet, Sugarcane, Cassava and Others. The Corn Starch segment held the largest market share in 2023 and is expected to continue the same pattern during the forecast period due to its biodegradability and renewability.
The market is divided into four categories based on application: Home Textiles, Footwear, Clothing and Others. The Home Textiles segment is expected to dominate the market over the forecast period owing to the growing consumer awareness.
Bioplastic Textile Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. The Asia Pacific is expected to hold the largest market share during the forecast period. The region's population growth and rising levels of disposable income are driving up demand for bioplastic clothing as well as household and industrial textiles. Because of their sizable populations and growing knowledge of the advantages of sustainable textiles, China, India, and Japan are important markets for bioplastic textiles. The need for bioplastic textiles is being driven by the abundance of textile manufacturing businesses in the region. Significant businesses in the bioplastic textile industry are also heavily concentrated in the region, which is anticipated to propel market expansion.
The key players operating in the market are BASF SE, FKuR, DuPont de Nemours, Inc., NaturePlast, Gucci, GALATEA BIO TECH, Bioplastics Ltd, Corbion N.V., Biome, Bio-on SpA and Ercros S.A. To obtain access to new markets, market players are continuously pursuing a variety of strategic initiatives, including the creation of new products, funding and investments, mergers and acquisitions, and other strategic partnerships.
In November 2023, for the continuous production of polycaprolactone (PCL), a biodegradable polyester often utilized in the packaging, textile, agricultural, and horticultural sectors, Sulzer introduced CAPSULTM, a new end-to-end licensed technology. The CAPSULTM system provides ideal process performance for the cost-effective manufacturing of PCL grades of the highest caliber. It complements Sulzer's current portfolio of circular and sustainable plastic technologies, which includes process technology for polylactic acid (PLA).
GLOBAL BIOPLASTIC TEXTILE MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
BASF SE
FKuR
DuPont de Nemours, Inc.
NaturePlast
Gucci
GALATEA BIO TECH
Bioplastics Ltd
Corbion N.V.
Biome
Bio-on SpA
Ercros S.A.