With the development of bioplastics in recent years, the bioplastics market has become active and recorded positive growth numbers. Explore that development in the article below.
Global Bioplastics Market
In the current market, bioplastics still account for a very small proportion (about 1%) compared to the 367 million tons of conventional plastic produced annually. However, in contrast to the slight decline in overall global plastic production, the bioplastics market continues to grow. This growth is driven by increased demand combined with the emergence of more complex products and applications.
According to the statistical report from 2021, the production of bioplastics will increase from 2.42 million tons in 2021 to about 7.59 million tons in 2026. Therefore, the global bioplastics market will surpass that for the first time.
Predicting the bioplastics market within the next 4 years.
Currently, biodegradable plastics, including PLA, PHA, starch blends, or coffee grounds and others, account for more than 64% (more than 1.5 million tons) of production capacity compared to global bioplastics.
Overall, non-biodegradable plastics account for about 36% (more than 865 thousand tons) of global bioplastics production capacity. They also include bio-based solutions such as PE (polyethylene), PET (polyethylene terephthalate), as well as PA (polyamide).
Their share is predicted to be relatively reduced to more than 30% by 2026. However, biopolymer production capacity will still increase in the coming years to around 2.3 million tons.
Practical applications in the bioplastics market
Growing concerns about the accumulation of plastic waste and strict regulations on the use of single-use plastics are the main factors driving the use of bio-based products.
Bioplastics are increasingly used across markets ranging from packaging, catering products, consumer electronics, automotive, agriculture/horticulture and toys to textiles and several other segments. .
However, the application portfolio continues to diversify. Segments, such as automotive & transportation or buildings & construction, are still growing with the increasing capacity of polymers.
Supplier of bioplastics made from coffee grounds in Vietnam
In the Vietnamese market, the trend of using biological products is increasing sharply among young people. There are many companies that manufacture biological products as well as develop bioplastic products through recycling from a variety of sources. However, Biopolymer is a supplier of materials as well as biological products made from coffee grounds in the bioplastics market chain in Vietnam.
Putting the value of products and consumers first, Biopolymer is equipped with modern machinery systems as well as a reputable source of raw materials, ensuring the highest level of product quality to consumers.
To know more about us in the bioplastics market in Vietnam, please visit our website: https://biopolymer.vn/ or https://www.airxcoffee.com/ and leave a message at Contact section if you have questions or need support from us.