As bioplastic materials transition from being a “nice-to-have” to materials with a very strong, viable business case, manufacturers are racing to keep up with demand. Brand owners, striving to hit their decarbonization targets by taking the initiative to transition to bioplastics, are generating a stronger brand owner pull than ever before. This demand is further exacerbated by legislators around the world, who are cutting down on fossil-based plastic use with single-use plastic bans. Together, these major factors are pressurizing players across the bioplastics industry to commercialize their materials and ramp up production.

With all this activity, IDTechEx forecasts global annual bioplastics production capacity to grow at a CAGR of 10.1 percent over the next 10 years.

IDTechEx has released its latest research on bioplastics in the report “Bioplastics 2023-2033: Technology, Market, Players, and Forecasts,” which evaluates the technologies and trends that are bringing more sustainable bio-based materials to the plastic industry. In the report, IDTechEx evaluates the technologies for polymerizing synthetic bio-based polymers and extracting naturally occurring polymers. It tracks the huge industry activity that has been happening and discusses the trends and challenges surrounding bioplastics, considering these in a granular 10-year forecast.

For more information, contact research@IDTechEx.com or visit www.IDTechEx.com.