PUBLISHER: Roots Analysis | PRODUCT CODE: 1643957
PUBLISHER: Roots Analysis | PRODUCT CODE: 1643957
As per Roots Analysis, the global sustainable laboratory plasticware market size is estimated to grow from USD 0.47 billion in the current year to USD 2.69 billion by 2035, at a CAGR of 19% during the forecast period, till 2035.
The opportunity for the sustainable laboratory plasticware market has been distributed across the following segments:
Sustainable / renewable plastic labware refers to lab products designed with an emphasis on reducing environmental impact throughout their life cycle. This labware aims to lower the dependency on traditional lab plastics, which are solely derived from petrochemicals contributing significantly to plastic waste. Research indicates that biomedical and scientific labs generate around 5.5 million tons of plastic waste annually. This highlights the urgent need for the adoption of eco-friendly materials for the production of labware.
Sustainable laboratory plasticwares are produced using at least 90% certified plastic from bio-based raw materials. These eco-friendly options also feature enhanced recyclability, biodegradability, and reusability. The adoption of sustainable lab consumables not only significantly reduces the ecological footprint of scientific research and industrial laboratory operations but also addresses the growing regulatory pressures and sustainability goals. Additionally, adopting sustainable labware maintains the highest standards of quality, safety, and performance essential in laboratory settings. Examples of sustainable labware include bio-based / biodegradable laboratory plasticware, recycled lab plastics, and other recyclable laboratory supplies.
Driven by the need for greener solutions, ongoing innovations in laboratory plasticware, and a rising focus on plastic labware sustainability, the adoption of renewable / sustainable laboratory plasticwares is increasing globally. Moreover, the shift toward eco-friendly labware has become a necessity rather than a choice, further driving the integration of sustainable practices and positioning the market for steady growth in the forthcoming years.
The report delves into the current state of the renewable / sustainable laboratory plasticware market and identifies potential growth opportunities within the industry. Some key findings from the report include:
Recycled Plastics based Labware is the Fastest Growing Segment of the Renewable / Sustainable Laboratory Plasticware Market
Based on the type of plastic, the global market for renewable / sustainable laboratory plasticware is segmented into bioplastic, recycled plastic and other plastics. Currently, the majority share of the renewable / sustainable laboratory plasticware market is captured by bioplastic based labware segment. It is worth mentioning that the recycled plastics based labware segment is likely to grow at a relatively higher CAGR in the coming years.
Polypropylene is Likely to Dominate the Renewable / Sustainable Laboratory Plasticware Market During the Forecast Period
Based on the type of polymer, the global market for renewable / sustainable laboratory plasticware is distributed across various types of polymers, such as polyethylene, polypropylene, polystyrene and other polymers. Currently, the polypropylene segment holds a majority share of the market and is expected to grow at a substantial rate during the forecast period. This can be attributed to various properties of polypropylene, including chemical resistance, durability, and versatility across a wide range of laboratory applications, making it the preferred material for plasticware production.
Pipette Tips is Likely to Hold the Largest Share of the Renewable / Sustainable Laboratory Plasticware Market During the Forecast Period
Based on the type of plasticware, the global market for renewable / sustainable laboratory plasticware is segmented into pipette tips, tubes, plates, racks and other plasticwares. Currently, the pipette tips segment is likely to dominate and drive overall market growth. It is likely to witness substantial growth during the forecast period. This can be attributed to continuous revenues generated from pipette tips and substantial innovations to develop sustainable tips, including those made from compostable and recyclable materials.
Academic and Research Institutes Segment is Likely to Grow at a Relatively Faster Pace During the Forecast Period
Based on the end users, the global market for renewable / sustainable laboratory plasticware is segmented across academic and research institutes, clinical and environmental testing laboratories, pharmaceutical and biotechnology companies and other end users. While the pharmaceutical and biotechnology segment is expected to dominate the overall market, it is worth highlighting that the academic and research institutes segment is expected to grow at a relatively higher CAGR.
Europe Accounts for the Largest Share of the Market
Based on geography, the market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle East and North Africa. In the current scenario, Europe is likely to capture the largest market share. However, the renewable / sustainable laboratory plasticware market in Asia-Pacific is expected to grow at a higher CAGR during the forecast period.
The report on renewable / sustainable laboratory plasticware market features insights into various sections, including: