Global Automotive Bioplastic
Market Report
2024
Automotive Bioplastic Market size is USD 769.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 11.00% from 2024 to 2031.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global automotive bioplastic market size is USD 769.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 11.00% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Automotive Bioplastic Market Sales Revenue 2024 | $ 769.2 Million |
Global Automotive Bioplastic Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 11% |
North America Automotive Bioplastic Market Sales Revenue 2024 | $ 307.68 Million |
North America Automotive Bioplastic Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 9.2% |
Europe Automotive Bioplastic Sales Revenue 2024 | $ 230.76 Million |
Europe Automotive Bioplastic Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 9.5% |
Asia Pacific Automotive Bioplastic Sales Revenue 2024 | $ 176.92 Million |
Asia Pacific Automotive Bioplastic Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 13% |
South America Automotive Bioplastic Market Sales Revenue 2024 | $ 38.46 Million |
South America Automotive Bioplastic Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 10.4% |
Middle East and Africa Automotive Bioplastic Market Sales Revenue 2024 | $ 15.38 Million |
Middle East and Africa Automotive Bioplastic Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 10.7% |
Market Split by Material |
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Market Split by Vehicle |
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Market Split by Application |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Automotive Bioplastic Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
"Automotive bioplastic" refers to the bioplastic utilized in the automotive sector. Corn starch, vegetable and oil fats, recycled food waste, and other biological sources are common raw ingredients used to make bioplastics. Due to their lower cost and lighter weight, these plastics have taken the place of metal auto parts in recent years. When it comes to recycling, the components of bioplastics are more effective and environmentally beneficial than those of regular plastics. The research on the automotive bioplastics market examines the expansion that is presently occurring as a result of rising product usage for lightening vehicle weight. Moreover, the market for automotive bioplastics is expected to grow due to a number of significant factors, including rising awareness among vehicle manufacturers about pollution and waste management, growing usage of recyclable materials made from plant-based fibers, and the product's superior characteristics, which include reduced dependence on the oil market and reduced carbon emissions. Additionally, as the agricultural sector develops and research and development activities increase, there will be a wealth of chances that will propel the expansion of the automotive bioplastics market.
For instance, in January 2020, with the announcement that it has purchased Maroquin Organic International plc its whole, AGRANA Beiteiligungs AG intends to grow the company's manufacturing and production division.
Growing demand for automotive, especially in emerging nations, is one of the major factors influencing growth. As economies grow and more people become able to purchase them, demand for cars, trucks, and other vehicles is predicted to increase. Additionally, a number of the vehicle's components cannot be recycled, and it would cost extra to recycle them. Bioplastics have a high rate of recyclability, giving them a significant competitive advantage over other readily accessible conventional alternatives in the automotive industry. However, because bioplastics have a high rate of recyclability, there is less environmental concern when it comes to plastic waste, which is expected to fuel the expansion of the worldwide automotive bioplastic market.
During the projected period, market players will have more profitable chances due to the government's beneficial initiatives pertaining to environmental rules that are driving up demand for automotive bioplastics. New legislation and regulations, like the Eco-product Certification Scheme (ECS), are made by the European Commission and other federal government departments. These rules ensure a sustainable and green environment with little to no emissions of hazardous compounds. Furthermore, the issue of lowering vehicle weight has been emphasized by the growing concerns around automotive emissions. Over the projected term, these restrictions and guidelines will provide the industry with substantial potential opportunities.
Since bioplastics are made from plant sources, which need vast amounts of arable land, their production costs are frequently very high. Cash crop output is further hindered by farmers' concern of choosing to cultivate cash crops or food crops, which could further impair the food grain stock. These factors increase the cost of producing the raw materials needed to make bioplastics, which affects the price of auto parts made of bioplastics. As a result, it is predicted that the growth of the global automotive bioplastic market will be constrained throughout the forecast period.
The market for automotive bioplastics is negatively impacted by the COVID-19 epidemic. The pandemic outbreak caused manufacturing and supply chain disruptions in the automotive industry as a result of the limitations put in place by different national governments. COVID-19 caused a number of factories to close, which momentarily decreased demand for bioplastic and hampered the expansion of the automotive bioplastics market. However, it is anticipated that the automotive market will expand gradually as limitations are gradually lifted and enterprises are reopened.
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There are several well-established companies in the industry with knowledge of sophisticated production technology. Additionally, producers in the automotive bioplastics market are working to increase the efficiency of the automotive components they make using bioplastics through research and development. Thus, it is anticipated that additional research funding will promote market expansion. The market is seeing the introduction of new products with operational advantages as a result of these efforts. In order to meet the steadily rising demand for bioplastics worldwide, top producers in the industry are continuously concentrating on increasing the number of products they produce.
August 2022: In response to the increasing demand for a variety of plant-based goods, including bioplastics, LG Chem and ADM (NYSE: ADM) announced the formation of two joint ventures for the manufacturing of lactic acid and polylactic acid in the United States. The joint ventures have decided to locate their planned manufacturing facilities in Decatur, Illinois, U.S., pending final investment choices.
October 2021: Green Dot Bioplastics, Inc. and Mayco International collaborated on a recycled fiber project. Mayco International required a long-term solution for the waste generated during the production of automotive components. 2020 saw the introduction of Terratek NFRP by Green Dot Bioplastics, a fiber-based biomaterial. By working together, the two businesses were able to use the trim and scrap fibers to develop an NFRP composite material that would prolong the life of the original components and remove them from the waste stream.
July 2020: R Plus Japan Ltd., a recently formed joint venture, has committed to funding the advancement of Anellotech, Inc.'s state-of-the-art Plas-TCat technology, which recycles wasted plastics. Twelve partners from throughout the Japanese plastics supply chain, spanning industries, created R Plus Japan.
Top Companies Market Share in Automotive Bioplastic Industry: (In no particular order of Rank)
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Global Automotive Bioplastic Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Automotive Bioplastic Industry growth. Automotive Bioplastic market has been segmented with the help of its Material, Vehicle Application, and others. Automotive Bioplastic market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, bio polyethylene terephthalate (PET) category stands out as the dominating category. The automotive industry now offers sustainable, environmentally beneficial solutions thanks to bio-PET, proving that innovation and technology can combat climate change. The use of Bio-PET in the worldwide automotive bioplastics market demonstrates peoples' shared commitment to preserving the environment for the coming generations. Growing economies in emerging nations are driving the worldwide automotive bioplastics market, particularly the Bio-PET segment.
Bio poly-amide (PA) category emerges as the fastest-growing category in the automotive bioplastic market. This material type finds wide application in the manufacturing of plastic vehicle components. Applications with a higher potential for wear and tear are improved by bio-based polyamide. Furthermore, as castor oil and other bio-based or renewable raw resources make up a larger portion of their composition, bio-based polyamides have a superior environmental profile and lower greenhouse gas emissions.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Automotive Bioplastic Industry. Request a Free Sample PDF!
According to Cognitive Market Research, the dominating category is passenger cars. Because bioplastics are used in the passenger car category, automakers have to get inventive in order to satisfy industry regulations and maintain environmental responsibility. The worldwide automotive bioplastics market is dominated by the passenger car sector, indicating that people are willing to compromise on convenience and comfort in favor of environmental responsibility.
The fastest-growing category in the automotive bioplastic market is electric cars as a result of shifting fuel prices and rising public awareness of environmental issues. Increasing EV incentives, an increase in the number of people living in cities, and declining battery costs are some of the key factors driving this market. In addition, it is anticipated that increased EV adoption would result from intergovernmental actions supporting EVs and revitalizing the transportation infrastructure in both developed and developing nations. The use of EVs as a form of transportation is growing as a result of all these considerations.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Automotive Bioplastic market report 2024 Edition by contacting our team.
According to Cognitive Market Research, the exterior category dominated the market in 2024. This is explained by the fact that a car's weight is frequently influenced by its exterior, and that weight may be decreased, and the automotive is made lighter by using bioplastics in its place. Moreover, aftermarket sales are larger since car exterior parts frequently need to be replaced in the event of an accident. For example, the bumper of an automobile is damaged in more than one-third of collisions and frequently needs to be replaced.
The fastest-growing category in the automotive bioplastic market is interior. Numerous businesses have addressed this market, and it has had remarkable outcomes. In order to employ bioplastics in the automotive interior segment, manufacturers need to use their creativity to create products that have the same appearance and durability as conventional plastics. People are willing to take on the challenge of creating items that are aesthetically pleasing, long-lasting, and environmentally beneficial, as evidenced by the use of bioplastics in the automotive interior market.
According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue because the area is seeing a rise in research and development activities. Additionally, there is considerable market expansion potential in this region due to the expanding demand for electric vehicles. The market for automotive bioplastics will grow as a result of bioplastics' superior heat resistance and ability to lighten electric cars.
Asia-Pacific stands out as the fastest-growing region in the automotive bioplastic market. In this region, there is a sharp rise in the demand for passenger cars and commercial vehicles, particularly in developing nations like China and India. The inside of passenger automobiles frequently uses bioplastics, including floor mats, door consoles, interior lighting, and seats. This is driving up demand for automotive bioplastics in the Asia Pacific area.
The current report Scope analyzes Automotive Bioplastic Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
According to Cognitive Market Research, the global automotive bioplastic market size was estimated at USD 769.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 307.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.2% from 2024 to 2031.
According to Cognitive Market Research, the global automotive bioplastic market size was estimated at USD 769.2 Million out of which Europe held the market of more than 30% of the global revenue with a market size of USD 230.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.5% from 2024 to 2031.
According to Cognitive Market Research, the global automotive bioplastic market size was estimated at USD 769.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 176.92 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.0% from 2024 to 2031.
According to Cognitive Market Research, the global automotive bioplastic market size was estimated at USD 769.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 38.46 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.4% from 2024 to 2031.
According to Cognitive Market Research, the global automotive bioplastic market size was estimated at USD 769.2 Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 15.38 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.7% from 2024 to 2031.
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Table of Content differs accordign to the user License selction. Current Displayed TOC is for the Corporate User License Report Edition. TOC Customization options: Add or Remove section's Or chapter's from the report. Specific section's of report can be ordered at a discounted price. If applicable; On Request Volume Data will also be provided (at an Additional Cost).
Material | Bio Poly-Amide (PA), Bio Polyethylene Terephthalate (PET), Bio Polybutylene Succinate (PBS), Bio Polypropylene (PP), Bio Polyethylene (PE), Bio Poly-Trimethylene Terephthalate (PTT), Others |
Vehicle | Passenger Car, Electric Cars |
Application | Exterior, Interior, Engine Surrounding, Engine Covers/Valve Covers, Fuel Hoses/ Lines, Others |
List of Competitors | Evonik Industries AG, Arkema Group, Total Corbion PLA, Teijin Group (1/3), NatureWorks LLC, Denso Corporation, Mitsubishi Chemical Corporation AS, Solvay Group, Toray Industries Inc., Braskem, RTP Company, BASF SE, Novamount S.P.A., Dow Chemical Company, Eastman Chemical Company |
This chapter will help you gain GLOBAL Market Analysis of Automotive Bioplastic. Further deep in this chapter, you will be able to review Global Automotive Bioplastic Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
Chapter 2 North America Market Analysis
Executive Summary North America Market (2019 vs 2024 vs 2031)
Purchase Add-Ons to Customize the Report Edition and get further granular data level data about the North America market. Add-On Cost: Request before placing the order, Respective Pricing will be informed after sending the inquiry
Qualitative Analysis for the North America Market: North America Automotive Bioplastic Market Trends North America Automotive Bioplastic Technological Road Map North America Automotive Bioplastic Market Drivers North America Automotive Bioplastic Market Restraints North America Automotive Bioplastic Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia-Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Material Analysis 2019 -2031, will provide market size split by Material. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Material Analysis 2019 -2031
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Chapter 11 Market Split by Vehicle Analysis 2019 -2031
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Chapter 12 Market Split by Application Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Automotive Bioplastic market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Bio Poly-Amide (PA) have a significant impact on Automotive Bioplastic market? |
What are the key factors affecting the Bio Poly-Amide (PA) and Bio Polyethylene Terephthalate (PET) of Automotive Bioplastic Market? |
What is the CAGR/Growth Rate of Passenger Car during the forecast period? |
By type, which segment accounted for largest share of the global Automotive Bioplastic Market? |
Which region is expected to dominate the global Automotive Bioplastic Market within the forecast period? |
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