- In June 2024, Floreon, a bioplastics company, secured USD 328.3 million in funding to scale up its bioplastics technology. In addition, this investment will enable the company to expand its production capabilities and strengthen its position in the sustainable materials market. In particular, the funding aims to accelerate the development and commercialization of Floreon's innovative bioplastic solutions, meeting the rising demand for eco-friendly alternatives to traditional plastics
- In February 2024, Balrampur Chini Mills Limited (BCML), a major sugar company in India, announced a forward integration project valued at USD 238.5 million to establish the country's first industrial bioplastic plant. In essence, the plant will produce Polylactic Acid (PLA), a sustainable alternative to conventional plastics, with a production capacity of 75,000 tons per year, targeting a global market
- In May 2023, TotalEnergies Corbion partnered with Changsu Industrial to promote the adoption of sustainable biobased BOPLA films. In particular, this collaboration is expected to boost TotalEnergies Corbion's revenue from biobased products and strengthen its market position in the growing sustainable materials sector
- In April 2023, Solvay entered into a strategic collaboration with Ginkgo Bioworks to expand its research and innovation efforts in the U.S. In addition, the collaboration aims to develop new sustainable biopolymers, solidifying Solvay's presence in the North American market
- In April 2023, NatureWorks LLC introduced its new biopolymer-based product, Ingeo 6500D, designed to offer enhanced strength and softness in biobased nonwovens, particularly for hygiene applications
Frequently Asked Questions
The market is segmented based on Global Bio-Plastics Market Segmentation, By Product Type (Biodegradable and Non-Biodegradable), End User (Rigid Packaging, Flexible Packaging, Textile, Agriculture and Horticulture, Consumer Goods, Automotive, Electronics, Building and Construction, and Others) - Industry Trends and Forecast to 2032
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The Global Bio Plastics Market size was valued at USD 23.25 USD Billion in 2024.
The Global Bio Plastics Market is projected to grow at a CAGR of 14.22% during the forecast period of 2025 to 2032.
The market report covers data from the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
