February 17, 2020
As per the report titled ‘Bioplastic Textile Market Size 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 (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, Saudi Arabia, UAE), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025’ available with Market Study Report LLC, the global bioplastic textile market is projected to surpass USD 1.4 billion by the year 2025.
Rising consumer preference towards sustainable products is driving the growth of bioplastic textile market. Increasing adoption of bioplastic by major plastic manufacturers coupled with favorable government policies will drive the market growth over the analysis period. Innovations such as biodegradable synthetic textile which breaks down easily and don’t pollute the environment, will play a key role in adoption of environment friendly bioplastic textiles across the globe.
However, the high cost associated with bioplastic production is major restraint on the bioplastic textile market. Bioplastics are 50% dearer as compared to conventional plastics due to expensive R&D activities. Additionally, high cost of recycling equipment and facilities for bioplastics will negatively impact market growth in the coming years.
Based on the source, corn starch segment is presumed to grow by 7% during the forecast period. Corn starch is the most used material for bioplastics manufacturing. The segment growth can be attributed to its easy availability and biodegradable nature.
Based on the material, poly lactic acid (PLA) segment is expected to accrue USD 430 million by 2025. Use of synthetic polymers in clothing and textile industry have adverse impacts on the environment which is encouraging manufacturers to adopt sustainable textile. This factor coupled with supportive government policies for adoption of PLA in garments is driving the segment growth.
Speaking of the end-user spectrum, clothing segment is expected to account for 45% share of bioplastic textile market by the end of forecast period. Rising adoption of renewable raw materials by clothing brands to negate the harmful effects on the environment is fostering the segment growth, cites the study.
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Considering the geographical outlook, Asia Pacific and Europe hold the largest share of the global bioplastic textile market. According to the report, Europe is the largest consumer of bio-based products. Europe bioplastic textile market is projected to witness a growth of over 6.5% during 2019-2025, owing to strong government support. The government also grants incentives and funds to bioplastic manufacturers to promote the use of ecofriendly plastics.
Major players of bioplastic textile market include Lacoste, Gucci, Teijin, Ercros SA, Unitika, Puma, NatureWorks LLC, Patagonia, Offset Warehouse, and ZS Fabrics.
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