Plastic is one of the most commonly used and highly polluting petroleum derivates in the world causing harm to the environment along with other living creatures such as birds, animals, and aquatic animals. To cater to this, various manufacturers are focused on introducing eco-friendly and biodegradable alternatives to reduce plastic waste.
One of the best alternatives to traditional plastic is bioplastic. Bioplastic is a biodegradable material derived from renewable biomass sources, such as vegetable fats and oils, corn starch, straw, woodchips, sawdust, recycled food waste, etc. Bioplastics are biodegradable under specified conditions (e.g. composting) and are thus environmentally friendly. They are used in packaging (e.g. biodegradable plastic bags, film, and containers), consumer products (e.g. mobile phone covers, toothbrushes, and toys), electronics (e.g. casings for laptops and digital cameras), and construction (e.g. insulation). Bioplastics help in reducing the overall carbon footprint and saving a lot of energy during final production. These bioplastics are widely used in different forms in various sectors including packaging, automotive and transportation, consumer goods, building and construction, textile, and agriculture among others.
Bioplastics are rapidly gaining traction owing to increasing consumer awareness about environmental concerns and growing preference for bio-based or natural resources for manufacturing materials. In addition, governments and private organizations are promoting bioplastics by making common people aware of advantages of bioplastics.
According to the latest report published by Emergen Research, the global bioplastic market is expected to reach USD 25.27 billion in 2027, and register a steady CAGR of 14.9% during the forecast period. However, high costs of bioplastics and limited performance as compared to conventional plastics, and low awareness about the benefits of bioplastics to humans and environment are some key factors that can hamper overall market growth to a certain extent during the forecast period.
BASF EF is the largest chemical producer in the world located in Ludwigshafen, Germany, and comprises joint ventures and subsidiaries in more than 80 countries. BASF has more than 390 production sites in various parts of the world including Europe, America, Asia, and Africa. BASF has been recycling bio-based and biodegradable polymers for more than 30 years. The company offers high-quality, completely compostable bioplastic derived from renewable sources based on sugar and is widely used in organic waste bags, agricultural films, and compostable coffee capsules.
Eastman Chemical Company is a US-based chemical company headquartered in Kingsport, Tennessee. The company has launched a cellulose-based engineering bioplastic, TREVA that offers high performance and reduced environmental impact. TREVA is chemically resistant, BPA-free, and dimensionally stable.
Plantic Technologies is an Australian company focused on developing biodegradable plastics obtained from renewable sources. Plantic has developed a proprietary technology to offer biodegradable and organic alternatives to conventional plastics.
Futamura Group – [Revenue US$1.19 Billion]
Futamura Group is a global leader based in Japan that produces a wide range of plastic films, cellulose films, fibrous casing, activated carbon, and phenolic laminated sheets. Futamura is also focused on providing high-quality specialty products that are ethical and sustainable. The company has recently patterned with Biome Bioplastics to demonstrate a wide of compostable and bio-based multilayer films.
NatureWorks LLC is a US-based company located in Minnetonka, that manufactures bioplastics, derived entirely from plant resources such as cornstarch. The company is jointly owned by PTT Global Chemicals and Cargill. Injection molding, foam, 3D printing, films, cards, fibers, and nonwovens are some of the key products offered by NatureWorks.
Polymateria Ltd is a UK-based company focused on developing biodegradable products for tackling plastic pollution. The company offers a wide range of biodegradable solutions for traditional plastic packaging. These next-generation sustainable products are recyclable, toxin, and microplastic-free. Polymateria Ltd is focused on manufacturing advanced bioplastics and has a wide range of products producing bags, flower sleeves, detergent bottles, drinking cups, and garment polybags among others already in the market.
TIPA Corp Ltd is an Israeli company that develops and manufactures biodegradable plastic packaging. It offers a wide range of highly customizable and sustainable films with certified food-grade packaging for dry food, fresh produce, powder, coffee, supplements, and spices, along with compostable polybags, zipper bags, and mailers for fashion, apparel, and accessories.
Biome Bioplastics is one of the UK’s leading developers focused on making intelligent, natural plastics. Biome’s mission is to produce bioplastics than can reduce the dominance of oil-based polymers and eventually replace them. The company has also launched a digital platform to respond to queries about plastic pollution and educate public about plastic conservation.
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