PLANT BASED PLASTIC (GREEN PLASTIC) MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Plant Based Plastic (Green Plastic) Market, By Source of Raw Material (Corn Starch, Sugarcane, Cassava, and Others (Soy, Potato, Algae, etc.), By Type (PLA (Polylactic Acid), PHA (Polyhydroxyalkanoates), Starch-Based Plastics, and Other), By End-use Industry (Packaging, Textile, Automotive & Transport, Electronics & Electricals, Coatings & Adhesives, Agriculture & Horticulture, and Others (Building & Construction, etc.)), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Sep 2024
Code : CMI7368
Pages :136
Formats :
Excel and PDF
Industry : Polymers and Resins

Key Developments

In March 2024, Beyond Plastic, manufacturer of biodegradable plastic announced a partnership with CJ Biomaterials, a global leader in the manufacture of PHA (polyhydroxyalkanoates) to develop a biodegradable plastic-based bottle cap. This cap is crafted from polyhydroxyalkanoate (PHA), a biopolymer sourced from natural materials. This innovative material not only improves the functional characteristics of traditional plastics but also provides significant environmental benefits.
In February 2024, Balrampur Chini Mills Ltd, a prominent India-based sugar and ethanol producer, announced a significant investment of USD 267 million in the bioplastics sector. As part of this investment, the company plans to establish a polylactic acid (PLA) plant with an annual production capacity of 75,000 tons.
In 2023, Sulzer, a global leader in fluid engineering and specialty chemicals, announced the expansion of its bioplastics portfolio with the introduction of a new biodegradable polymer. This innovative polymer is designed to meet the increasing demand for sustainable materials in various applications, including packaging, consumer goods, and industrial products.
In 2022, Toray Industries, Inc., a leading global company in the field of advanced materials, announced the development of a nylon 510 (N510) fiber that incorporates 100% 'biobased synthetic polymer content' as defined by the international standard ISO 16620-1: 2015. This groundbreaking achievement marks the introduction of Ecodear 510, the first 100% plant-based nylon fiber in Toray's Ecodear™ product line.