Global Compostable Plastics Market Size Study, by Product (Polylactic Acid, Starch Blends, PBAT, PBS), End-use (Packaging, Agriculture, Consumer Goods, Textile, Automotive & Transportation), and Regional Forecasts 2022-2032

Description

The Global Compostable Plastics Market, valued at approximately USD 2.33 billion in 2023, is forecasted to expand at a remarkable compound annual growth rate (CAGR) of 11.01% during the period 2024-2032, reaching an estimated USD 5.97 billion by 2032. Compostable plastics, derived from renewable materials, offer sustainable solutions for industries grappling with environmental regulations and consumer demand for eco-friendly alternatives. These plastics seamlessly integrate biodegradability with high performance, positioning them as a viable substitute for conventional plastics across multiple sectors.

The increasing preference for sustainable packaging solutions is a significant driver for the market, with polylactic acid (PLA) and starch blends emerging as front-runners due to their compatibility with existing industrial composting infrastructure. The agriculture industry is also leveraging compostable plastics in mulch films and plant pots, aligning with the global emphasis on sustainable farming practices. Concurrently, the automotive sector's adoption of biodegradable materials for interior components underscores the expanding applications of compostable plastics beyond traditional domains.

While challenges such as limited composting facilities and higher production costs compared to petroleum-based plastics persist, the market is witnessing an influx of investments aimed at scaling production and enhancing material properties. Innovations in polymer blends, coupled with government incentives promoting bioplastics, are catalyzing market growth. Emerging economies, with their expanding industrial bases and increasing environmental consciousness, present untapped opportunities for industry stakeholders.

Geographically, Europe dominates the compostable plastics market, driven by stringent regulations on single-use plastics and robust government support for bio-based industries. North America follows closely, buoyed by the increasing adoption of sustainable packaging in the food and beverage sector. Meanwhile, the Asia-Pacific region is anticipated to register the fastest growth, fueled by rising consumer awareness and the burgeoning packaging industry in countries like China and India.

Major Market Players Included in This Report Are:

BASF SE
NatureWorks LLC
Novamont S.p.A
Danimer Scientific
TotalEnergies Corbion
Mitsubishi Chemical Holdings
Plantic Technologies Limited
Biome Bioplastics Limited
FKuR Kunststoff GmbH
Cardia Bioplastics
Toray Industries, Inc.
PTT Global Chemical Public Company Limited
Tianan Biologic Materials Co., Ltd.
Eastman Chemical Company
Kaneka Corporation

The Detailed Segments and Sub-Segments of the Market Are Explained Below:

By Product:

Polylactic Acid
Starch Blends
PBAT
PBS

By End-use:

Packaging
Agriculture
Consumer Goods
Textile
Automotive & Transportation

By Region:

North America:

U.S.
Canada

Europe:

UK
Germany
France
Spain
Italy
Rest of Europe

Asia-Pacific:

China
India
Japan
Australia
South Korea
Rest of Asia-Pacific

Latin America:

Brazil
Mexico
Rest of Latin America

Middle East & Africa:

Saudi Arabia
South Africa
Rest of Middle East & Africa

Years Considered for the Study Are as Follows:

Historical Year - 2022
Base Year - 2023
Forecast Period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecasts for a 10-year period from 2022 to 2032.
Comprehensive regional insights with revenue projections and growth drivers.
Detailed segmentation analysis and application-wise revenue trends.
Competitive landscape profiling major players and their strategies.
Insights into sustainability initiatives and emerging technological innovations.
Actionable recommendations to capitalize on market opportunities effectively.

Chapter 1. Global Compostable Plastics Market Executive Summary

1.1. Global Compostable Plastics Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Product
- 1.3.2. By End-use
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Compostable Plastics Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Compostable Plastics Market Dynamics

3.1. Market Drivers
- 3.1.1. Increasing Demand for Sustainable Packaging Solutions
- 3.1.2. Expansion in the Agriculture Sector
- 3.1.3. Growth in the Automotive & Transportation Industry
3.2. Market Challenges
- 3.2.1. Limited Composting Facilities
- 3.2.2. Higher Production Costs Compared to Conventional Plastics
3.3. Market Opportunities
- 3.3.1. Innovations in Polymer Blends
- 3.3.2. Government Incentives Promoting Bioplastics
- 3.3.3. Expanding Industrial Bases in Emerging Economies

Chapter 4. Global Compostable Plastics Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Compostable Plastics Market Size & Forecasts by Product 2022-2032

5.1. Segment Dashboard
5.2. Global Compostable Plastics Market: Product Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 5.2.1. Polylactic Acid
- 5.2.2. Starch Blends
- 5.2.3. PBAT
- 5.2.4. PBS

Chapter 6. Global Compostable Plastics Market Size & Forecasts by End-use 2022-2032

6.1. Segment Dashboard
6.2. Global Compostable Plastics Market: End-use Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 6.2.1. Packaging
- 6.2.2. Agriculture
- 6.2.3. Consumer Goods
- 6.2.4. Textile
- 6.2.5. Automotive & Transportation

Chapter 7. Global Compostable Plastics Market Size & Forecasts by Region 2022-2032

7.1. North America Compostable Plastics Market
- 7.1.1. U.S. Compostable Plastics Market
  - 7.1.1.1. Product Breakdown Size & Forecasts, 2022-2032
  - 7.1.1.2. End-use Breakdown Size & Forecasts, 2022-2032
- 7.1.2. Canada Compostable Plastics Market
7.2. Europe Compostable Plastics Market
- 7.2.1. UK Compostable Plastics Market
- 7.2.2. Germany Compostable Plastics Market
- 7.2.3. France Compostable Plastics Market
- 7.2.4. Spain Compostable Plastics Market
- 7.2.5. Italy Compostable Plastics Market
- 7.2.6. Rest of Europe Compostable Plastics Market
7.3. Asia-Pacific Compostable Plastics Market
- 7.3.1. China Compostable Plastics Market
- 7.3.2. India Compostable Plastics Market
- 7.3.3. Japan Compostable Plastics Market
- 7.3.4. Australia Compostable Plastics Market
- 7.3.5. South Korea Compostable Plastics Market
- 7.3.6. Rest of Asia-Pacific Compostable Plastics Market
7.4. Latin America Compostable Plastics Market
- 7.4.1. Brazil Compostable Plastics Market
- 7.4.2. Mexico Compostable Plastics Market
- 7.4.3. Rest of Latin America Compostable Plastics Market
7.5. Middle East & Africa Compostable Plastics Market
- 7.5.1. Saudi Arabia Compostable Plastics Market
- 7.5.2. South Africa Compostable Plastics Market
- 7.5.3. Rest of Middle East & Africa Compostable Plastics Market

Chapter 8. Competitive Intelligence

8.1. Key Company SWOT Analysis
- 8.1.1. BASF SE
- 8.1.2. NatureWorks LLC
- 8.1.3. Novamont S.p.A
8.2. Top Market Strategies
8.3. Company Profiles
- 8.3.1. BASF SE
  - 8.3.1.1. Key Information
  - 8.3.1.2. Overview
  - 8.3.1.3. Financial (Subject to Data Availability)
  - 8.3.1.4. Product Summary
  - 8.3.1.5. Market Strategies
- 8.3.2. NatureWorks LLC
- 8.3.3. Novamont S.p.A
- 8.3.4. Danimer Scientific
- 8.3.5. TotalEnergies Corbion
- 8.3.6. Mitsubishi Chemical Holdings
- 8.3.7. Plantic Technologies Limited
- 8.3.8. Biome Bioplastics Limited
- 8.3.9. FKuR Kunststoff GmbH
- 8.3.10. Cardia Bioplastics
- 8.3.11. Toray Industries, Inc.
- 8.3.12. PTT Global Chemical Public Company Limited
- 8.3.13. Tianan Biologic Materials Co., Ltd.
- 8.3.14. Eastman Chemical Company
- 8.3.15. Kaneka Corporation

Chapter 9. Research Process

9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
9.2. Research Attributes