Bioplastic Textiles Market to Reach Valuation of ~US$ 1.2 Bn by 2027; Popularity of Green and Biodegradable Materials to Drive Demand Within the Global Market, Finds TMR
- The presence of an ever-expanding industry for manufacturing bioplastics has aided the growth of several other industries and manufacturing units. The global bioplastic textiles market is set to grow alongside advancements in manufacturing of biodegradable products
- The growing focus of research labs and scholars on sustainability and renewability has created a buzz across the global energy sector
Mar 20, 2020, 08:30 ET
ALBANY, New York, March 20, 2020 /PRNewswire/ -- The global bioplastic textiles market is set to attract formidable investments in the years to follow. There is little contention about the importance of developing environment-friendly, biodegradable, and green polymers that coexist with natural resources. Besides, researchers are under constant pressure to popularise polymers and bioplastics that do not erode the natural fabric of the earth. As new technologies come to the fore of the chemical industry, bioplastics are expected to become the centrepiece of sustainable growth within the energy sector. Manufactured from renewable biomass, bioplastics meet the standards for composability and biodegradability set by leading research institutes. The growth of the global bioplastic textiles market is a function of the research fraternity proactiveness in embracing green technologies. Several research entities are spearheading advancements in the field of green energy technologies.
The total worth of the global bioplastic textiles market is expected to touch US$ 1.2 Bn by 2027, rising up from a value of US$ 440 Mn in 2018. The CAGR of the global bioplastic textiles market is tabulated at 12% over the period between 2019 and 2027. The growth of this market can largely be attributed to advancements in green and energy-efficient technologies.
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Chemical Industry to Foster Agility and Sustainability across its Research Operations
- Several new polymers and materials are tested across the chemical industry on a regular basis. The popularity of polyamide and Polyethylene Terephthalate shall support the growth of the global bioplastic textiles market.
- Abundant availability of starch, beet, cassava, and sugarcane that serve as vital sources of bioplastic textiles could help toward consolidating the business landscape of the market.
- Advancements in research related to polymers has created ripples across the global bioplastics sector. The growth rate of the global bioplastic textiles market shall surpass previous marks.
- New research lines to develop bioplastics from sugarcane and beet have been developed, creating fresh opportunities for growth within the global market.
Gather insights-based inferences on the leading trends and opportunities floating across the Bioplastic Textiles Market (Material: Polytrimethylene Terephthalate [PTT], Polyamide [PA], Polyethylene Terephthalate [PET], Polylactic Acid [PLA], and Others; Source: Sugarcane, Beet, Corn Starch, Cassava, and Others; and Application: Home Textiles, Clothing, Footwear, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027 at: https://www.transparencymarketresearch.com/bioplastic-textile-market.html
Global Bioplastic Textiles Market: Growth Drivers
The presence of a seamless industry for chemical research has added a touch of sophistication to several new technologies. Development of green, biodegradable, and sustainable polymers has become a reality, and manufacturers are basking in the success of new manufacturing technologies. The EN 13432 / EN 14995 standards for biodegradability and composability set by European Bioplastics e.V. have helped in popularising bioplastic textiles. In the contemporary times, the following factors are driving sales across the global bioplastic textiles market:
- Use of bioplastic textiles in manufacturing shoes and slippers is the primary and foremost driver of market demand. Shoes manufactured bioplastics are durable and can be worn in extreme weathers.
- Several new uses of bioplastic textiles such as manufacturing of bags, special cushions, and curtains have come to the fore in recent times. This trend shall also bring in fresh revenues into the global market.
- Investors and venture capitalists are eyeing the sustainable energy sector to let out their money to. Therefore, these entities are looking for green technologies, including bioplastic textile manufacturing, for investment.
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Reliance on Toxic Biochemicals and Plastics to Hamper Market Growth
- Despite the apparent utility of bioplastic textiles in sustainability, use of these textiles has remained low across the world. A large population of people still prefers to use non-biodegradable plastics that cause severe damage to the environment.
- Limited number of research-centers and labs that developed and test bioplastics has created roadblocks for the growth of the global bioplastic textiles market.
Global Bioplastic Textiles Market: Competitive Landscape
The New York City Council has revealed its plans towards achieving its goal of "Zero Waste Generation" by 2030. The council intends to conduct extensive studies on management of bioplastics, and is looking for green technologies to manage waste. This announcement has come as a forerunner to the growth of vendors operating in the global bioplastic textiles market. Some of these vendors are NaturePlast, DuPont de Nemours, Inc., and FKuR Biome Bioplastics.
Analyze Bioplastic Textiles Market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.
The global bioplastic textiles market can be segmented as:
Bioplastic Textiles Market by Material
- Polytrimethylene Terephthalate (PTT)
- Polyamide (PA)
- Polyethylene Terephthalate (PET)
- Polylactic Acid (PLA) or Polylactide
Bioplastic Textiles Market by Source
- Corn Starch
- Others (Including Wheat and Potatoes)
Bioplastic Textiles Market by Application
- Home Textiles
Bioplastic Textiles Market by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
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