Bioplastics Manufacturing in the US - Industry Market Research Report

Bioplastics Manufacturing in the US - Industry Market Research Report

Bioplastics Manufacturing in the US

During the current period, concerns over the future of petroleum-based plastics supported demand for recyclable and sustainable bioplastics. Volatility in the world price of crude oil influenced major plastics producers to search for an alternative. Despite oil price volatility, bioplastics still remain more expensive than petro-based products. Overall, revenue has been falling at a CAGR of 1.5% to $1.1 billion over the past five years, including an expected jump of 1.2% in 2023 alone. Profit is also expected to slump to 4.9% of revenue in 2023 from 7.6% in 2018.

The Bioplastics Manufacturing industry manufactures bioplastics, which are organic plastics derived from renewable biomass sources. Designed to biodegrade, bioplastics are made from sources such as vegetable oil, cornstarch, pea starch or microbiota.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.