Global Automotive Bioplastic Market – Industry Trends and Forecast to 2029

Global Automotive Bioplastic Market, By Material Type (Bio Poly-Amide (PA), Bio Poly-Trimethylene Terephthalate (PTT)Bio Polyethylene Terephthalate (PET), Bio Polybutylene Succinate (PBS), Bio Polypropylene (PP), Bio Polyethylene (PE), Others), Applications (Exterior, Interior, Engine Surrounding, Others), Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle, Electric Vehicles) – Industry Trends and Forecast to 2029.

Automotive Bioplastic Market Analysis and Size

Automotive bioplastics possess several enhanced properties, making them suitable for product usage in automotive industries. The diminishing fossil resources, unpredictability of the oil prices and the rising need of more cost and fuel-efficient vehicles is boosting the growth of the market. The technical applications in the automotive sector are the most upcoming markets for bioplastics. Volumes are expected to increase to from around 1,55,000 tonnes to 1,66,000 tonnes over next five years. The rising demands of eco-friendly solutions due to the rising awareness regarding carbon emissions and better recyclability facilities is also propelling the growth of the market.

Global automotive bioplastic market was valued at USD 623.30 million in 2021 and is expected to reach USD 1365.53 million by 2029, registering a CAGR of 10.30% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Automotive Bioplastic Market Scope and Segmentation

Market Definition

The bioplastics used in the automotive industries is known as “automotive bioplastic”. The raw material used in the manufacturing of the bioplastics are usually from the biological sources such as corn starch, vegetable and oil fats, recycled food waste and other conventional sources such as fossil fuels.

Global Automotive Bioplastic Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• High demands for recycling the Vehicle parts

The high demands for the recycling of vehicular parts is the primary factor driving the growth of the market over the forecasted period. The recyclability rate of bioplastics is high, providing the tremendous competitive edge and higher adoption of the bioplastic across automobile industries. Several parts of the vehicle are non-recyclable, which negatively impacts the environment. All these factors are driving the growth of then market over the forecasted period. 

• Rapid urbanization and modernization

The rapid urbanization and modernization across many countries fuels the market growth. The shifting preferences of consumers towards better enhanced, effective and greener solutions is the major factor driving the market's growth. Moreover, the rising disposable income of the growing population across the developing nation such as China and India is also a factor driving the growth of the market over the forecasted period.

Opportunities

• Regulations and rising demands for vehicle weight reduction

Moreover, the favorable initiatives by the government associated with environmental regulations to increase demand for automotive bioplastics, will further extend profitable opportunities to the market players in the forecast period. The European Commission and other federal government agencies create new laws and regulations, such as the Eco-product Certification Scheme (ECS). These regulations guarantee low or no harmful compound emissions and a green and sustainable environment. Moreover, the increasing concerns for the vehicular emissions have raised the necessity of reducing vehicle weight. These parameters and regulations are creating significant growth opportunities for the market over the forecasted period.

Restraints/Challenges

• Fluctuating costs of Raw material

The inconsistent prices have a direct negative impact on the overall market’s growth. As a result, these fluctuations will pose as a major challenge the automotive bioplastic market growth rate.

• Production issues from the farming sector

The production related issues from the farmers regarding the growth of crops and usage as manufacturing sources of bioplastics is the main factor creating hindrance for the market and will obstruct the growth of the market over the forecasted period.

This automotive bioplastic market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the automotive bioplastic market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Automotive Bioplastic Market

The recent outbreak of coronavirus had a negative impact on the automotive bioplastic market. It seriously disrupted the market due to the disruption of production activities and supply chains across the chemical industries due to the lockdown restrictions. However, with the gradual upliftment of restriction and restoration of business operations, the overall automotive bioplastic industry is expected to grow steadily.

Recent developments

• In 2020, AGRANA Beiteiligungs AG announced that it had acquired the total share of Maroquin Organic International plc. which will help in expanding the manufacturing and production segment of the organization
• In 2020, Anellotech Inc, announced that the company would observe investments from R Plus Japan Ltd. for its development of recycling technologies.  

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Automotive Bioplastic Market Scope

The automotive bioplastic market is segmented on the basis of material type, applications and vehicle type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Material Type

• Bio Poly-Amide (PA)
• Bio Poly-Trimethylene Terephthalate (PTT)
• Bio Polyethylene Terephthalate (PET)
• Bio Polybutylene Succinate (PBS)
• Bio Polypropylene (PP)
• Bio Polyethylene (PE)
• Others

Applications

• Exterior
• Interior
• Engine Surrounding
• Others

Vehicle Type

• Passenger Car
• Light Commercial Vehicle
• Heavy Commercial Vehicle
• Electric Vehicles

Automotive Bioplastic Market Regional Analysis/Insights

The automotive bioplastic market is analyzed and market size insights and trends are provided by material type, applications and vehicle type as referenced above.

The countries covered in the automotive bioplastic market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance due to the increasing research and development activities within the region.

Asia-Pacific, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the increasing vehicle production within the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Automotive Bioplastic Market Share Analysis

The automotive bioplastic market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to automotive bioplastic market.

Some of the major players operating in the automotive bioplastic market are

• Mitsubishi Chemical Corporation. (Japan)
• TotalEnergies (France)
• TEIJIN LIMITED. (Japan)
• NatureWorks LLC (U.S.)
• DENSO CORPORATION. (Japan)
• Solvay (Belgium)
• TORAY INDUSTRIES, INC. (Japan)
• TORAY INDUSTRIES, INC. (Germany)
• Arkema (France)
• Braskem (Brazil)
• Novamont S.p.A. (Italy)
• RTP Company (U.S.)
• BASF SE (Germany)
• Dow (U.S.)
• Eastman Chemical Company (U.S.)
• AGRANA Beteiligungs-AG (Austria)
• Anellotech, Inc. (U.S.)
• BioSphere Plastic (U.S.)
• Bosk Bioproduits inc. (Canada)
• Covestro AG (Germany)
• Danimer Scientific (U.S.)
• Metgen Oy (Finland)