Bioplastic Textile Market Analysis | 2023-2028

Market Insights

"The bioplastic textile market was estimated at USD 107 billion in 2022 and is likely to grow at a CAGR of 5.11% during 2023-2028 to reach USD 1.45 billion in 2028".

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Market Dynamics

Introduction

Bioplastic textiles are derived from renewable biomass and contain polymers that meet the specific standards of biodegradability and compostability. Plant resources are usually used to make bioplastic textile. Enzymes are used to break down starch into glucose, which is then fermented to produce lactic acid. Lactic acid is polymerized and used to make bioplastics.

Market Drivers

The market has gained traction in recent years as customers shift their preferences toward plant-based or biodegradable products. Additionally, favorable government policies and the availability of environmental-friendly raw materials in the industry will aid in the growth of the bioplastic textiles market over the forecast period. Furthermore, the massive poisoning of aquatic life caused by synthetic fibers is a compelling argument to replace petroleum-based polyesters in textiles with a greener alternative.

The global bioplastic textiles market is expected to grow due to environmental awareness, research and development, stringent government policies, changing climatic conditions, rising fossil fuel prices, and the decline in dependency on fossil fuels. The market is expected to be driven by the need to reduce plastic use, address climate change, and reduce carbon emissions, ultimately creating a sustainable market for bioplastic textiles.

Market trends

Technological advancements have enabled the production of bioplastic textiles from sugarcane, beet, corn starch, and cassava, with sugarcane being the most commonly used raw material due to its non-polluting properties and renewable nature, making it a preferred choice in the textile industry.

Polytrimethylene terephthalate (PTT) and polylactic acid (PLA) are being used in the production of bioplastics due to their elasticity and wrinkle resistance properties, making them ideal for the textile industry.

Restraint: Higher costs and insufficient Mechanical Properties

Bioplastics, often viewed as eco-friendly, can indirectly release more pollutants due to the use of fertilizers and pesticides in crop cultivation and the chemical process of turning organic material into plastics. Bioplastics are also more expensive than regular polymers, limiting market expansion due to high polymerization costs and the development stage of their processes. Additionally, bioplastics lack sufficient mechanical qualities compared to conventional polymers, limiting their market share in the textile industry.

Segments' Analysis

By Source Type

"Corn starch dominates the market and is estimated to maintain its supremacy during the forecast period".

• The market is segmented as sugarcane, beet, corn starch, cassava, and others.
• The growth of the segment is owing to the product being ideal for the production of polylactic acid (PLA) as it is derived from wheat corn and is completely biodegradable. Furthermore, corn starch is employed in textile applications as addition to PLA manufacture. It is, for example, commonly used as an adhesive to enhance resistance during weaving and in printing to improve consistency, among other things.

By Material Type

"The polylactic acid [PLA] segment has been gaining traction in the textile industry since some years and it is estimated to clock colossal gains during the forecast period".

• The market is segmented as polylactic acid [PLA], polyhydroxyalkanoates [PHA], polyhydroxybutyrate [PHB], bio-polyester [Bio-PES], bio-polyamide [Bio-PA], and others.
• Exhibiting its properties similar to polystyrene and polyethylene, PLA is also considered as their potential substitute, thus driving the growth of the market.

Regional Analysis

"Asia-Pacific is expected to experience maximum growth for bioplastic textiles during the forecast period".,

• Asia-Pacific is expected to experience maximum growth for bioplastic textiles during the forecast period, which is encouraged by government initiatives to promote bio-based products, growing consumer cognizance for bioplastics, followed by increasing bans on traditional plastics.
• Furthermore, growing apparel industry in the region, supported by increasing online shopping portals mainly in the emerging economies such as China and India, are likely to be the key influencer for the growth of the market in the near term.

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Key Players

The following are the key players in the Bioplastic Textile Market (arranged alphabetically).

• Ercros SA
• Gucci
• Lacoste
• NatureWorks LLC
• Offset Warehouse
• Patagonia Inc
• Puma
• Teijin Limited
• Unitika Ltd.
• ZS Fabric.

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Research Methodology

• This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.
• We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation by any one of the material types by end-user type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

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