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| Thermoplastic Starch Market |
The thermoplastic starch possesses properties such as biodegradability, renewability, and compatibility with petroleum-based thermoplastics which make it suitable for various applications in packaging, textiles, and agriculture sectors. Thermoplastic starch can be used to manufacture biodegradable packaging materials such as containers, cups, and plates. Owing to environmental concerns regarding use of petroleum-based plastics, the adoption of biodegradable and eco-friendly products is increasing.
The global
Thermoplastic Starch Market is estimated to be valued at US$ 268.89 Bn in 2024 and is expected to exhibit a CAGR of 9.6% over the forecast period
2024 to 2031, as highlighted in a new report published by Coherent Market
Insights.
Market key trends: The increased adoption of biodegradable products is one of
the major trends being witnessed in the thermoplastic starch market. Rising
environmental concerns are forcing manufacturers and customers to switch from
conventional plastics to biodegradable alternatives. According to a survey,
around 75% of consumers stated their willingness to pay extra for sustainable
packaging. Various regulations are also being implemented across regions to ban
specific single-use plastic products. This growing demand for eco-friendly
products is driving the thermoplastic starch market. Major brand owners and
retailers have introduced biodegradable packaging goals to replace
petroleum-based plastics with bioplastics including thermoplastic starch.
Segment Analysis
The global thermoplastic starch market is dominated by bioriented thermoplastic
starch sub-segment. Bioriented thermoplastic starch exhibit similar properties
as conventional plastics. They can be processed like plastics using
thermoplastic processing techniques such as injection molding, extrusion or
thermoforming. Bioriented thermoplastic starch are renewable and fully
biodegradable thermoplastic materials. Hence, bioriented thermoplastic starch
sub-segment accounts for the largest market share in the global thermoplastic
starch market.
Key Takeaways
The global Thermoplastic
Starch Market Growth is expected
to witness high growth during the forecast period. The global Thermoplastic
Starch Market is estimated to be valued at US$ 268.89 Bn in 2024 and is
expected to exhibit a CAGR of 9.6% over the forecast period 2024 to 2031.
Asia Pacific
region currently dominates the thermoplastic starch market and is expected to
continue its dominance during the forecast period. Countries like China and
India have emerged as major producers and consumers of thermoplastic starch.
The growth in Asia Pacific region can be attributed to presence of emerging
economies, growing population, and rapid industrialization.
Key players operating in the thermoplastic starch market are Access Scanning
Document Services, LLC, Ripcord, Inc., Armstrong Archives, LLC, Novamont S.p.A,
Rodenburg Biopolymers, EcoSynthetix Inc., and BIOTEC GmbH & Co. KG.
Majority of key players are focusing on new product launches. For instance, in 2020,
Novamont launched new grades of Mater-Bi and Tecnopor bioplastic materials. The
new grades exhibit enhanced performance for various applications such as
thermoforming, injection molding and blow molding.
For more insights, read- https://www.ukwebwire.com/thermoplastic-starch-market-trends-size-and-share-analysis/
For more details on the report, Read- https://techaxen.com/glycerol-the-versatile-elixir-fueling-industries-and-nurturing-skincare-unveiling-the-liquid-golds-hidden-potentials/
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