The bioplastics market in North America is expected to grow from US$ 1,362.60 million in 2021 to US$ 3,289.26 million by 2028; it is estimated to grow at a CAGR of 13.4% from 2021 to 2028.
The US, Canada, and Mexico are major economies in North America. Bioplastics are gaining popularity in various applications worldwide. In the biomedical industry, they are used in skin replacement procedures for treating burns and wounds. They are also being used in tissue engineering (as scaffolds), bone reconstruction, nerves and gum reconstruction, drug release systems, blood vessel growth, and stent covering. Furthermore, nontoxic biodegradable bioplastics sutures, commonly referred to as stitches, are being used by medical professionals in hospitals and surgeries. Pins, tacks, and screws used to assist bone healing and during reconstructive surgeries are made from bioplastics. Containers for tablets and creams can also be produced utilizing bioplastics. Besides, in the dental industry, bioplastics-based nanocellulose, produced from microbial cellulose by Glucanacetobacter xylinus strains, is used in dental tissue regeneration procedures in humans. Further, bioplastics have been an interesting exploration in the building & construction industry. However, builders and homeowners prefer using bioplastics for different products for fencing and decking. Bioplastics, such as natural fibers (composites) and biopolyamides (Bio-PA), PLA and PLA-based composite, polybutylene succinate (PBS), and bio-based polypropylene (Bio-PP), are also extensively used in the automotive sector. Bioplastics help reduce the weight of vehicles, fuel consumption, and CO2 emissions.
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The electronics industry has made enormous strides in tackling its environmental impact, mainly by manufacturing more energy-efficient devices and designing more efficient recycling options for electronic waste. In recent years, the electronics industry has started to address issues regarding the sustainability of materials used in its products. Bioplastics, which have similar characteristics to traditional plastics, can be injection-molded without the need for any machinery modification. The handling of electronics items is more complex than normal packaging, and since plant-derived bioplastics are generally processed at a lower temperature than the temperature required in conventional products, they may face poor temperature resistance issues. However, with ongoing technological advancements related to enhancing temperature resistance, bioplastics are coming up as suitable alternatives for conventional materials used in numerous components produced by the electronics sector. Therefore, the wide application scope of bioplastics is expected to drive the North America bioplastics market during the forecast period.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America bioplastics market at a notable CAGR during the forecast period.
North America Bioplastics Market Segmentation
The North America bioplastics market is segmented on the basis of type, application, and country. Based on type, the market is segmented into biodegradable and non-biodegradable. The biodegradable segment held a larger market share in 2020. Based on application, the North America bioplastics market is segmented into packaging, agriculture, consumer goods, automotive & transportation, textiles, building & construction, and others. The packaging segment held the largest market share in 2020. Based on country, the North America bioplastics market is segmented into US, Canada, and Mexico. The US held the largest market share in 2020.
Basf SE; Biome Bioplastics; Braskem S.A.; Mitsubishi Chemical Corporation; Natureworks LLC; Sabic; Teijin Limited; Toray Industries, Inc.; and Total Corbion PLA are among the leading companies in the North America bioplastics market.
North America Bioplastics Strategic Insights
Strategic insights for the North America Bioplastics provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
Market leaders and key company profiles
Basf SE
Biome Bioplastics
Braskem S.A.
Mitsubishi Chemical Corporation
Natureworks LLC
Sabic; Teijin Limited
Toray Industries, Inc.
Total Corbion PLA
North America Bioplastics Regional Insights
The geographic scope of the North America Bioplastics refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
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Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights
