At 11.4% CAGR, the Asia Pacific Bioplastics and Biopolymers Market is projected to be worth US$ 6,171.13 million by 2030 says Business Market Insights

According to Business Market Insights research, the Asia Pacific bioplastics and biopolymers market was valued at US$ 2,890.07 million in 2023 and is expected to reach US$ 6,171.13 million by 2030 registering a CAGR of 11.4% from 2023 to 2030. Increasing regulations and policies against traditional plastic, rising demand for eco-friendly plastics in packaging industry, and increasing focus on innovations and technological advancement are among the critical factors attributed to the Asia Pacific bioplastics and biopolymers market expansion.        

The key players operating in the market are investing heavily in the research and development of bioplastics to gain more consumer traction and increase their market share. They focus on developing new, biodegradable polymer blends and creating greater bioplastic strength and flexibility. The innovations in biopolymers focus on biopolymer composition and structure. The biodegradable block-copolymer made by Lotte Chemical, used in orthopedic medical devices, and the biodegradable graft polymers developed by BASF for use in washing and cleaning products are examples of such innovations. Further, Teijin Limited offers formable gasoline-resistant film made of PLANEXT bioplastic to replace chrome plating. This new film is developed with PLANEXT SN4600, an enhanced grade of Teijin's PLANEXT bioplastic (which is produced from a bio-origin chemical compound called isosorbide). In addition to original PLANEXT properties, such as chemical resistance, transparency, and surface hardness, polymer reforming gives PLANEXT SN4600 significant new properties—gasoline resistance, formability, and UV resistance. Thus, the growing focus on innovation and technological advancement related to bioplastics is the key trend predicted to propel the Asia Pacific bioplastics and biopolymers market during the forecast period.

On the contrary, lack of infrastructure and recycling facilities for bioplastics and biopolymers hampers the Asia Pacific bioplastics and biopolymers market.  

Based on product type, the Asia Pacific bioplastics and biopolymers market is segmented into polyethylene, polyethylene terephthalate, polylactic acid, polytrimethylene terephthalate, polybutylene adipate terephthalate, polybutylene succinate, cellulose, blends, and others. The blends segment held 26.7% share of Asia Pacific bioplastics and biopolymers market in 2023, amassing US$ 771.32 million. It is projected to garner US$  1,781.67 million by 2030 to expand at 12.7% CAGR during 2023–2030.

Based on end-use industry, the Asia Pacific bioplastics and biopolymers market is divided into packaging, consumer goods, automotive, textile, building and construction, medical, agriculture, and others. The packaging segment held 47.9% share of Asia Pacific bioplastics and biopolymers market in 2023, amassing US$ 1,384.53 million. It is projected to garner US$ 3,095.49 million by 2030 to expand at 12.2% CAGR during 2023–2030.

Based on country, the Asia Pacific bioplastics and biopolymers market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 43.4% share of Asia Pacific bioplastics and biopolymers market in 2023. It was assessed at US$ 1,254.96 million in 2023 and is likely to hit US$ 2,782.04 million by 2030 exhibiting a CAGR of 12.0% CAGR during 2023–2030.      

Key players operating in the Asia Pacific bioplastics and biopolymers market are Arkema SA, BASF SE, Braskem SA, Cardia Bioplastics Australia Pty Ltd, Corbion NV, Eastman Chemical Co, Mitsubishi Chemical Holdings Corp, Mitsui Chemicals Inc, Novamont SpA, and Saudi Basic Industries Corp, among others.

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