Automotive Bioplastics Market Forecasted to Surge at a 10.7% CAGR by 2029

The automotive bioplastics market was valued at US$ 687.5 million in 2022, and it is anticipated to grow to US$ 1.44 billion by the year 2029, at a CAGR of 10.7%.

Increasing demand for bioplastics across a range of end-use sectors is also encouraging a market expansion forecast. The usage of bioplastics and continued technological advancement are the main market drivers for plastics made from renewable biomass.

Explore Market Potential and Gain Competitive Advantage – Request Sample Report Now! https://www.futuremarketinsights.com/reports/sample/rep-gb-10531

Key Takeaways from the Automotive Bioplastics Market

• North America holds the largest market share with the US being subject to stern regulations regarding environmental protection and emissions.
• Europe holds the second-largest market share with Germany leading from the front. This could be reasoned with country being a hub of automotives with greater demand for lightweight automotive components.
• The Asia-Pacific is expected to grow at a remarkable rate in the automotive bioplastics market with countries like India witnessing an exponential increase in consumption of automotives.

Competitive Automotive Bioplastics

• Total Carbion PLA, in September 2020, did announce strategy of expanding the manufacturing capacity regarding bioplastics by opening the new Europe-based plant with manufacturing capacity of close to 100K tons/annum.
• Mitsubishi Chemical Corporation, in March 2019, did announce that it would start using straws for producing bioplastics at facilities operated by Keikyu Corporation by making use of BioPBSTM technology.
• AGRANA Beiteiligungs AG, in the year 2020, did announce that it had completed acquisition of Maroquin Organic International plc; which would aid in expansion of organization’s production segment.
• Anellotech Inc., in the year 2020, did announce that it would look through investments from R Plus Japan Ltd. to develop recycling technologies.

Key Companies Profiled

• Mitsubishi Chemical Corporation AS
• Total Corbion PLA
• Teijin Group (1/3)
• NatureWorks LLC
• Denso Corporation
• Solvay Group
• Toray Industries Inc.
• Evonik Industries AG
• Arkema Group

Request Report Methodology: https://www.futuremarketinsights.com/request-report-methodology/rep-gb-10531

Automotive Bioplastics Market by Category

By Material:

• Bio PA
• Bio-PTT
• Bio PET
• Bio PBS
• Bio PP
• Bio PE
• Others

By Vehicle:

• Passenger Car
• LCV
• HCV
• Electric Cars

By Application:

• Exterior
• Interior
• Engine Surrounding
• Others

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:       

Nandini Singh Sawlani  

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube