The market in South & Central America is segmented into Brazil, Argentina, and the Rest of SAM. The flourishment of the automotive and packaging industries is anticipated to drive market growth in this region. As per IHS Automotive, the regional automobile market is predicted to grow significantly in the coming years, and it will be one of the world’s top markets for light vehicle sales by 2025. Technological advancements, elevated greenhouse gas emission levels, and a greater focus on environmental sustainability and vehicle end life management are the factors fueling the demand for bioplastics in the automotive industry. Bio-based polypropylene is competent material for producing sturdier plastic parts, such as bumpers, dashboards, and battery covers. Further, utilizing bioplastics in agriculture applications benefit through the reduction of carbon footprint, as bioplastics are biodegradable materials that can degrade more quickly and naturally. Moreover, key players in the bioplastics market in SAM are likely to expand their market share by adopting product development and innovation strategies.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the SAM bioplastics market at a notable CAGR during the forecast period.
SAM bioplastics market is segmented into type, application, and country. Based on type, the market is segmented into biodegradable and non-biodegradable. The biodegradable segment held the larger market share in 2020. Based on application, the SAM bioplastics market has been divided into packaging, agriculture, consumer goods, automotive & transportation, textiles, building & construction, and others. The packaging segment held the largest market share in 2020. Based on country, the SAM bioplastics market is segmented into Brazi, Argentina, and rest of SAM. Furthermore, Basf SE; Biome Bioplastics; Braskem S.A.; Sabic; Teijin Limited; Toray Industries, Inc.; and Total Corbion PLA are among the leading companies in the SAM bioplastics market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 339.10 Million |
| Market Size by 2028 | US$ 747.07 Million |
| CAGR (2021 - 2028) | 11.9% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South America Bioplastics Market is valued at US$ 339.10 Million in 2021, it is projected to reach US$ 747.07 Million by 2028.
As per our report South America Bioplastics Market, the market size is valued at US$ 339.10 Million in 2021, projecting it to reach US$ 747.07 Million by 2028. This translates to a CAGR of approximately 11.9% during the forecast period.
The South America Bioplastics Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South America Bioplastics Market report:
The South America Bioplastics Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Bioplastics Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Bioplastics Market value chain can benefit from the information contained in a comprehensive market report.
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