Most industries, including automotive, electronics, food & beverage packaging, agriculture, textiles, health care, and others use bioplastics for engineering-grade applications. Plastic films, bottles, or biodegradable medical gadgets are just a few uses for PLA. The most often used material for desktop 3D printers is PLA due to its reasonable durability and simplicity of processing. Which makes it safe to use as one of the materials for 3D printers. And the second justification for this.
Current challenges in bioplastics
The majority of PLA bioplastics were unable to endure rising temperatures. Making PLA requires a substantial amount of maize. The price of maize for international markets may change if PLA output increases and demand grow.
A range of biomass-based products from palm oil processing facilities, including EFB, PKS, OPT, and PKC. On the basis of sawdust from wood production plants or paddy straw by milled rice processing facilities, a variety of green products may be produced. Which also includes biorefining chemicals like bio-resins, biofuel, and bioplastics as an end product. Asia countries endowed with abundant biomass resources, like Malaysia, have rich sources of various biomass-based products. Malaysia might take use of the circular economy of biomass thanks to the abundance of its natural resources.
Given the importance of sustainable practices in the biomass industry, agricultural crop waste should be used. Malaysia or any other Asian country where biomass is accessible for use in subsequent processes may expand it. The primary reason driving the growth of the biochemical industry, as seen in Figure 3, is the increasing demand for bio-based products among end consumers. The market for bio-chemicals in Malaysia has a potential between RM 7-9 billion. It is clear how important biomass is when you consider that it takes 5.5 million tones of biomass to produce 1.6 million tones of bio-chemicals.
Market Analysis and Insights : Global Automotive Bioplastic Market
The automotive bioplastic market is anticipated to develop at an estimated pace of 11.30% from 2020 to 2027, with an estimated value of USD 1,261.42 million. The automotive biopolymers market research examines the expansion that is now accelerating since more people are using the products to lighten their vehicles.
Global Automotive Bioplastic Market
- One of the most significant and significant factors that will probably boost the expansion of the automotive bioplastic market in the forecast period of 2020–2027 is the increasing demand for the product due to its superior qualities, such as less dependence on the oil market as well as reduce the carbon, increasing utilizations of the recyclable material made from plant based fibers, and rising awareness among the vehicle manufacturers regarding pollution and waste management. On the other hand, the expansion of the agricultural sector and the rising number of R&D projects will create a wealth of additional opportunities that will fuel the expansion of the automotive bioplastic market over the time covered by the estimate.
- The anticipated market barrier for the expansion of the automotive bioplastic market in the aforementioned projected period is due to strict environmental laws as well as fluctuating petroleum costs. The high cost of producing bioplastics will be the primary obstacle to the market’s expansion.
- This report on the automotive bioplastic market details recent developments, trade laws, production analysis, value chain optimization, market share, the impact of domestic and localized market players. The company analyzes opportunities in terms of new revenue pockets, regulatory changes, strategic market growth analysis. Get in touch with Industry Research Data Bridge If you want to understand more about the automotive bioplastics industry, read this concise analysis. Our staff will assist you in making an informed choice to build your market.
Automotive Bioplastic Market Scope and Market Size
Segments in the automotive bioplastic market are based on application, vehicle type, and material type. You may develop alternative methods to assist discover key application areas & differences in your target markets by using growth among. The various segments to learn about various growth factors anticipated to be present across the industry.
- The bioplastic market is divided into bio PA, bio PET, bio PBS, bio PP, bio PE, & others based on the kind of material used.
- The automotive bioplastic market is divided into many applications based on market value, volume, market potential, and niches. Exterior, interior, and engine surround, & Other applications are included in the automobile bioplastic market’s application section.
- The type of vehicle determines the passenger car, LCV, HCV, and electric vehicle segments of the bioplastic market. Additional passenger car categories include small, mid-size, luxury, and SUVs. BEV, HEV, and PHEV are further classifications for electric cars.
Analysis of the global automotive bioplastic market by country
The analysis of the automotive bioplastic market includes data on market size and volume by nation, material type, vehicle type, and application.
The automotive bioplastic market report includes data for the United States, Canada, and Mexico in North America, Germany, France, the United Kingdom, the Netherlands, Switzerland, Belgium, Russia, Italy, Spain, and Turkey in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, and the Philippines in Asia-Pacific (APAC), Saudi Arabia, the United Arab Emirates, Israel, Egypt, South Africa, and the rest of the Middle East and Africa (MEA) as a whole.