Coherent Market Insights

Thermoplastic Starch (TPS) Market to Surpass US$ 397.02 Mn by 2030

Thermoplastic Starch (TPS) Market to Surpass US$ 397.02 Mn by 2030 - Coherent Market Insights

Publish In: Dec 07, 2022

Thermoplastic starch is manufactured through extrusion and injection moulding processes. It is used in packaging applications such as bags and films. It is a natural polymer, which is renewable and biodegradable. It also has a low cost and is very flexible. As a result, it is also in high demand in industries such as food processing and pharmaceuticals. Plasticized starch can be processed using heat and shear. Several additives, including sorbitol, glycols, amino acids, and citric acid, are commonly used in the TPS industry. Biobased plastics are more sustainable, recyclable, and biodegradable than petroleum-based plastics.

Market Statistics:

The Global Thermoplastic Starch (TPS) Market is estimated to account for US$ 200.56 Mn in terms of value by the end of 2021.

Global Thermoplastic Starch Market: Drivers

The growth of the thermoplastic starch market can be attributed to several factors, including increasing demand from emerging economies in Asia-Pacific, technological developments, and heavy investments in R&D. Increasing demand for biodegradable materials is also expected to boost demand for thermoplastic starch. Biodegradable materials reduce environmental impact and reduce cost. One example is biodegradable bone cement, which is a starch-based material that offers temporary structural support. Biodegradable plastics can also be used to make packaging films and other products.

Global Thermoplastic Starch Market: Opportunities

Growing investments in the biodegradable bioplastics market will increase the production of bioplastics. This is expected to present significant growth opportunities over the forecast period. While these technologies improve the environmental and social impact of bioplastics, their cost is a potential bottleneck in the market.

Global Thermoplastic Starch Market: Restraints

Increasing prices for starch polymers is expected to challenge market growth for market participants

Global Thermoplastic Starch Market - Impact of Coronavirus (Covid-19) Pandemic:

COVID-19 has significantly disrupted almost all the industries including construction, agrochemical, personal care, mining, transportation, logistics, manufacturing, and others. To combat COVID-19 pandemic, most of the countries had implemented lockdown and are now easing it phase-wise and industry wise. This has significantly impacted polymer manufacturing sector, as the facilities across the globe were temporarily shut down.

 To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/thermoplastic-starch-market-5389

Key Takeaways:

The global thermoplastic starch market was valued at US$ 200.56 Mn in 2021 and is forecast to reach a value of US$ 397.02 Mn by 2030 at a CAGR of 7.88 % between 2022 and 2030.

Films Application segment held dominant position in the global thermoplastic starch market in 2021, accounting for 49.7 % share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.

Global Thermoplastic Starch Market Trends:

Increasing urbanization and industrialization has been observed as a major trend for the global thermoplastic starch market. Growing disposable income and increasing population is creating demand for consumer goods this in turn augmenting demand for polymers. This projected to propel market growth.

Growing launch of new product by key players owing to ongoing innovation is also expected to emerge as a key trend. For instance, in July 2022, Grupa Azoty S.A. is the first company in Poland to launch a line of biodegradable and compostable polymer granules. The new envifill® line has been developed based on Grupa Azoty’s proprietary technology for obtaining thermoplastic starch that is made from bio-renewable and compostable materials and contains no plasticizers. Envifill® products are designed for applications in extrusion blow moulding, injection moulding and other technologies, including 3D printing technology.

Global Thermoplastic Starch Market: Competitive Landscape   

AGRANA Beteiligungs AG, Biome Bioplastics Limited, BIOTEC, Cardia Bioplastics, Novamont SpA, Kuraray Co. Ltd (Plantic), Rodenburg Biopolymers, and Wittenburg Group

Global Thermoplastic Starch Market: Recent Developments

In October 2019, Additional to the production capacity of 110 thousand metric ton per year of MATER-BI compostable bioplastics in Terne, Novamont started the production of its compostable biopolymers in its plant in Patrica, in the province of Frosinone. This move may allow the company to increase its production capacity by 40 thousand metric ton, thus, giving a response to the strong growth of the demand for biodegradable and compostable products.

In March 2019, Sealed Air and Kuraray invested in enhancing the production capacity for PLANTIC plant-based food packaging. Sealed Air Corporation invested in expanding the capacity at its Simpsonville facility to produce plant-based food packaging. This facility is the first in North America to produce materials made from PLANTIC plant- based resins and post-consumer plastics.

Need a Custom Report?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports


Want to Buy a Report but have a Limited Budget?

We help clients to procure the report or sections of the report at their budgeted price. Kindly click on the below to avail


Logo

Reliability and Reputation

ESOMAR
DUNS Registered
Clutch
DMCA Protected

9001:2015

Reliability and Reputation

27001:2022

Reliability and Reputation

EXISTING CLIENTELE

Created billion dollars of revenue impact on thousands of clients

trusted clients logo
© 2024 Coherent Market Insights Pvt Ltd. All Rights Reserved.