Bioplastic Textiles Market to Advance at CAGR of 11.9% During 2022-2031: TMR Study
- Lower environmental footprint of bioplastics incentivizing textile manufacturers and brands in apparel and textile industry to increasingly adopt bioplastics; wider commercialization of polytrimethylene terephthalate (PTT) propelled revenue streams in bioplastics textiles market
- Abundant demand for bioplastic textiles in clothing to generate lucrative avenues; Europe witnessing enormous opportunities; adoption of PLA & PTT to spur growth
WILMINGTON, Del., Aug. 11, 2022 /PRNewswire/ — The demand of bioplastic textiles market products is anticipated to gain strong traction on back of need for adopting sustainable products in the apparel and textile industry worldwide. The global market study on bioplastic textiles market found that spiralling plastic waste problem and its devastating impact on environment has nudged industry players to grow their R&D spending on bioplastics. The bioplastic textiles market size is forecast to reach US$ 1.8 Bn by the 2031.
The use of bioplastics in textiles is likely to gather momentum in the next few years, pivoting on brands increasingly seeking to attract consumers with sustainable products. As a result, the use of synthetic fibers has dwindled considerably over the years, given the fact that they contribute significantly to microplastics pollutions. Bioplastic fabrics and yarns made from polytrimethylene terephthalate (PTT) are on the path of commercialization, thereby generating enormous revenue potential for firms in the bioplastic textiles market.
The apparel industry including the fashion textiles is witnessing incredible customer proposition in array of bioplastics. In recent years, the bioplastics industry has also made enormous advancement, and host of new bioplastics utilizing novel materials have come to benefit players in the bioplastic textiles market.
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Key Findings of Bioplastic Textiles Market Study
- Environmental Benefits Spurring Adoption in Textile Industry: The study found that there is a massive demand for bioplastic textiles among clothing manufacturers. Firms are tapping into the massive revenue potential especially by offering products to manufacturers of apparel. Of note, the clothing segment held a major share of 46.7% in 2021. The demand for bioplastic textiles will also come from home decor products such as sofas and curtains, and the growth of the segment will generate sizable revenues during the forecast period.
- Rising Adoption of PLA and PTT Bioplastics in Nonwoven Textiles: PTT and PLA bioplastics are extensively adopted by the textile industry. The PTT segment is projected to account for revenue share of 47.1% by the end of the forecast period. Polytrimethylene terephthalate (PTT) bioplastics have gained robust commercialization, propelled by the utilization of these in polyester. Widespread utilization of bioplastic fibers in carpets and similar products will create profitable avenues.
- Innovations in Bioplastics to Expand Avenue for New Product Attributes: Bioplastics made from sustainable and biodegradable materials are extending the horizon for promising market prospects. A case in point is growing interest of agar bioplastic among textile suppliers. The pursuit of new materials with novel characteristics will pave the way for product innovations in the bioplastic textiles market.
Bioplastic Textiles Market: Key Drivers
- Advancements in textile recycling practices especially in developed countries reiterate on adopting textiles made with environmental-friendly raw materials. Rising concerns of textiles being a part of municipal solid waste in several countries will drive the need for bioplastics in various textile, thus driving the bioplastic textile market.
- Consumers have become more aware about the products they consume and are leaning toward those made with materials that don’t harm the ecology or environment. This will accelerate the push toward bioplastics adoption in the apparel and textile industry.
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Bioplastic Textiles Market: Regional Growth Dynamic
- North America held a major share of the global bioplastic textile market in 2021. The study estimates that the region is likely to lose share by the end of the forecast period—amounting to 16%–and this is mainly on the back of maturing consumer demand.
- Europe accounted for more than half of the market shares in 2031, and is expected to retain its lead until the end of the forecast period. The revenues streams are propelled by the uptake of polylactic acid (PLA) and polytrimethylene terephthalate (PTT) bioplastics in the textile industry.
Bioplastic Textiles Market: Key Players
- Expansion of product portfolio and engaging in mergers and acquisitions are some of the key competitive strategies implemented by leaders in the bioplastic textiles market during the forecast period.
- Some of the prominent companies in the market are NaturePlast, Ercros S.A, NatureWorks LLC, Corbion, Biome Bioplastics, GALATEA BIO TECH, FKuR, DuPont de Nemours, Inc., and BASF SE.
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Bioplastic Textiles Market Segmentation
- PTT: Polytrimethylene terephthalate
- PA: Polyamide
- PET: Polyethylene terephthalate
- PLA: Polylactic acid or polylactide
- Home Textile
- Corn Starch
- Others (Wheat, Potato)
- North America
- Asia Pacific
- Rest of the World
- Russia & CIS
- Rest of Europe
- Rest of Asia Pacific
- Rest of the World
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