Bioplastic Textiles Market size is anticipated to go beyond USD 1.3 billion by 2032, as per a recent research report announced by Global Market Insights Inc.
Excessive use of plastic has resulted in massive volumes of plastic waste generation over the last few decades. This waste pileup is not easily degradable and has a toxic impact on the environment. To address this issue, businesses are turning towards biodegradable alternatives such as bioplastics. Many countries are also looking into ways to curb greenhouse gas (GHG) emissions and limit the impacts of climate change. This should encourage the demand for bioplastics by private and public entities worldwide.
For instance, in April 2022, Thailand Ministry of Finance (MoF) announced the extension of tax measures to boost the use of biodegradable plastic products. The program is aimed at encouraging entrepreneurs to replace plastics with biodegradable alternatives. Similar government policies implemented to accelerate the use of bioplastics and renewably sourced raw materials will showcase a positive industry outlook.
Robust growth in sugarcane production will drive the deployment of sugarcane bioplastic
Bioplastic textiles market share from the sugarcane source segment is anticipated to reach over USD 320 million by the year 2032. Sugarcane is produced on a large scale worldwide and is among the top cash crops with the highest yield. It is grown in more than 100 countries and is capable of reducing greenhouse gas emissions. Increasing R&D efforts to develop biodegradable plastic should create new growth opportunities for sugarcane bioplastic manufacturers.
Wide-ranging application of polyhydroxyalkanoate (PHA) in textile
Bioplastic textiles industry share from the polyhydroxyalkanoate (PHA) material segment is projected to expand at over 4% CAGR between 2023-2032. Polyhydroxyalkanoates (PHAs) are a class of biodegradable polymers derived from renewable raw materials with the unparalleled potential to replace fossil-fuel-derived plastics. These bioplastics showcase superior high-temperature performance which helps cater to a wide variety of applications right from medical and automotive to agriculture and packaging. Ongoing technological advancements are expected to widen the business prospects for PHAs with potential applications across consumer products such as textiles, cosmetics, and sanitary goods.
Browse key industry insights spread across 550 pages with 1072 market data tables and 30 figures & charts from the report “Bioplastic Textiles Market Statistics By Source (Sugarcane, Beet, Corn Starch, Cassava), By Material (Polylactic Acid [PLA], Polyhydroxyalkanoates [PHA], Polyhydroxybutyrate [PHB], Bio-polyester [Bio-PES], Bio-polyamide [Bio-PA]), By End-user (Home Textiles, Clothing, Footwear) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape & Forecast, 2023 – 2032”, in detail along with the table of contents:
Bio-based home décor trends to fuel the demand for bioplastic home textiles
In terms of end-user, the bioplastic textiles market share from the home textiles segment is estimated to register more than USD 245 million by 2032. Rapid urbanization, rising disposable income, and sustainability trends such as green infrastructure and décor will propel the demand for bioplastic-based home textiles. Traditionally, home décor products are made from petroleum-based plastics with extensive environmental implications. Consumer interest in sustainable lifestyles has made bio-based home décor popular. Various architectural companies are providing innovative solutions allowing a peak into the next generation of bioplastic textiles.
Green infrastructure initiatives to augment APAC bioplastic textiles market statistics
Asia Pacific industry size is estimated to go beyond USD 375 million by 2032. A steady rise in large-scale green infrastructure projects in Japan, India, China, and South Korea will propel the need for bioproducts across the region. APAC also has a solid footprint of chemicals companies working on advanced polymers capable of ensuring faster and easier biodegradability in the environment.
New product development to boost bioplastic textile industry expansion
Teijinl, Pumal, Unitika, Patagonia, Reebok, Mango Materials , Pond Aps , Genomatica, ZS Fabrics , and Offset Warehouse are some of the leading companies in the global bioplastic textile market. These players are focusing on innovative strategies to design novel technologies for efficient production.