China Bioplastics Market Size & Outlook, 2022-2030
China bioplastics market, 2018-2030 (US$M)
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China bioplastics market highlights
- The China bioplastics market generated a revenue of USD 1,070.5 million in 2022 and is expected to reach USD 4,473.8 million by 2030.
- The China market is expected to grow at a CAGR of 19.6% from 2023 to 2030.
- In terms of segment, biodegradable was the largest revenue generating product in 2022.
- Non-Biodegradable is the most lucrative product segment registering the fastest growth during the forecast period.
Bioplastics market data book summary
| Market revenue in 2022 | USD 1,070.5 million |
| Market revenue in 2030 | USD 4,473.8 million |
| Growth rate | 19.6% (CAGR from 2022 to 2030) |
| Largest segment | Biodegradable |
| Fastest growing segment | Non-Biodegradable |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Biodegradable, Non-Biodegradable |
| Key market players worldwide | Teijin Ltd, Toray Industries Inc, Toyota Industries Corp, Avantium NV, PTT Global Chemical PCL ADR, Cargill, SABIC, Basf SE, Trinseo PLC, Braskem SA ADR, Corbion NV, Solvay SA |
Other key industry trends
- In terms of revenue, China accounted for 9.2% of the global bioplastics market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China bioplastics market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 761.9 million by 2030.
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Bioplastics Market Scope
Bioplastics Market Companies
| Name | Profile | # Employees | HQ | Website |
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China bioplastics market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to bioplastics market will help companies and investors design strategic landscapes.
Biodegradable was the largest segment with a revenue share of 51.76% in 2022. Horizon Databook has segmented the China bioplastics market based on biodegradable, non-biodegradable covering the revenue growth of each sub-segment from 2018 to 2030.
China dominated the Asia Pacific bioplastics market, in terms of both revenue and volume, in 2022. The market in China is anticipated to witness significant growth over the forecast period owing to the rising demand for the product in applications including packaging, automotive & transport, agriculture, consumer goods, building & construction and textiles.
China is one of the prominent consumers of non-alcoholic beverages across the globe, which, in turn, contributes to the demand for bioplastics in the packaging sector. The country is also one of the biggest consumers of packaged food products including fresh food, ready-to-eat food, and processed food, which further paves way for the use of bioplastics in packaging applications.
However, reducing demand from end-use customers due to the outbreak of COVID-19 is hampering the growth of the automotive, consumer goods, and textiles (especially fashion apparel) industries. This, in turn, is projected to restrain the demand for bioplastics in the aforementioned applications.
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Horizon Databook provides a detailed overview of country-level data and insights on the China bioplastics market , including forecasts for subscribers. This country databook contains high-level insights into China bioplastics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China bioplastics market size, by product, 2018-2030 (US$M)
China Bioplastics Market Outlook Share, 2022 & 2030 (US$M)
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