The global bioplastic textiles market is estimated to value at US$ 915.6 million in 2023 and it is expected to grow at a CAGR of 8.8% to reach US$ 2,128.1 million by the end of 2033.The demand for textile and nonwoven fibers is likely to drive the bioplastic textile market. Synthetic fibers used in textiles and other applications can readily be replaced by bio-based plastics used in textiles, such as PLA, PET, PHA, PA, and PTT.
In terms of market dynamics, the bioplastic textiles market is witnessing increased investments in research and development to enhance the performance and properties of bioplastic materials. Manufacturers are focusing on developing bioplastics that can match the durability, strength, and versatility of traditional synthetic textiles. This ongoing innovation is driving the adoption of bioplastic textiles in various applications such as clothing, home textiles, packaging, and automotive interiors.
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Key Takeaways:
- By material, the polylactic acid segment is projected to hold lion’s share in the global bioplastic textiles market by 2033.
- Based on application, the packaging segment is expected to remain at the forefront in the global bioplastic textiles market by 2033.
- The USA bioplastic textiles market is set to showcase an astonishing share with increasing demand for nonwoven fibers and textiles.
- Japan is anticipated to expand rapidly throughout the projection period in Asia Pacific.
- With significant investments in research works, the Germany bioplastic textiles market is anticipated to open up new prospects over the estimated time frame.
Country-wise Insights
In developed countries such as the United States, Canada, and several European nations, there is a strong emphasis on sustainability and environmental consciousness. These countries have well-established textile industries and a mature market for eco-friendly products. As a result, the demand for bioplastic textiles is relatively high, and there are significant investments in research and development to further improve the performance and cost-effectiveness of these materials. Government initiatives, regulations, and consumer awareness campaigns also contribute to the growth of the bioplastic textiles market in these countries.
On the other hand, developing countries, particularly those with large textile manufacturing industries like China, India, and Bangladesh, are gradually recognizing the importance of sustainable practices and materials. While the adoption of bioplastic textiles is still in the early stages in these regions, there is growing interest and potential for market expansion. Factors such as increasing consumer awareness, government support for sustainable initiatives, and collaborations with international brands and organizations are driving the development of the bioplastic textiles market in these countries. However, challenges related to production costs, scalability, and infrastructure development need to be addressed to unlock the full growth potential of the bioplastic textiles industry in developing nations.
Competitive Landscape
As per the study, FKuR, DuPont de Nemours, BASF SE, Ercros S.A., Braskem, Corbion, and Bio-on SpA are reflected to be top players in the global bioplastic textiles market. Due to the presence of large companies, a highly fragmented market is anticipated. Leading players are expected to rely heavily on mergers and acquisitions to acquire a competitive advantage.
Manufacturers are making investments in and buying up new companies that specialize in research & development efforts to introduce cutting-edge technologies. A select few firms are attempting to introduce and create unique products in order to obtain a competitive edge in the industry.
For instance,
- In August 2022, LG Chem, the world’s leading diversified chemical business, and ADM, a renowned provider of nutritional and bio solutions, announced the formation of two joint ventures. These are meant for the production of polylactic and lactic acid to meet rising demand in the USA.
- In December 2022, California-based materials innovator Cove launched its first biodegradable water bottle in partnership with Erewhon. The latter is a premium organic grocer in Los Angeles. Cove water bottles are accessible at Erewhon stores throughout Los Angeles and online. Cove plans to announce new retail partners in the upcoming months as it expands production at its Los Angeles manufacturing facility.
Top Companies Profiled by Fact. MR
- BASF SE
- Braskem
- Bio-on SpA
- Corbion
- DuPont de Nemours
- Ercros S.A.
- FKuR
- GALATEA BIOTECH
- Natureworks LLC
- NaturePlast
- Orbion
Segmentation of Bioplastic Textiles Industry Research
- By Material :
- Polytrimethylene Terephthalate (PTT)
- Polyamide (PA)
- Polyethylene Terephthalate (PET)
- Polylactic Acid (PLA) or Polylactide
- Others
- By Source :
- Sugarcane
- Beet
- Corn Starch
- Cassava
- Others
- Including Wheat
- Potatoes
- By Application :
- Packaging
- Home Textiles
- Clothing
- Footwear
- Others
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