August 16, 2024 – The global bioplastics market is experiencing significant growth, with projections estimating an increase from 12.4 billion USD in 2023 to approximately 24.8 billion USD by 2030. This upward trend is fueled by a combination of global regulations and escalating consumer demand. In response to these market forces, numerous material companies have initiated collaborations to enhance the performance of bioplastics, such as polylactic acid (PLA) and polyhydroxyalkanoates (PHA), while incorporating natural fibers as fillers and reinforcing materials.
Beyond traditional packaging applications, the target areas for novel bio-based materials are expanding, encompassing durable injection molding applications and automotive components. Artificial intelligence technology has played a pivotal role in this domain. For instance, the U.S. National Renewable Energy Laboratory (NREL) employs the PolyID (polymer inverse design) software tool to identify bioplastics with superior performance through AI.
In terms of material innovation, CJ Biomaterials Technology has revolutionized eco-friendly packaging. They have created a proprietary polyhydroxyalkanoate/polylactic acid (PHA/PLA) blend based on amorphous PHA (aPHA) technology, utilized in high-end cosmetic packaging. Meanwhile, Avient’s Maxxam™ bio-based formulations reduce the carbon footprint of products by using bio-based polyolefins like polypropylene (PP) and polyethylene (PE) resins, along with naturally sourced fillers like olive seed powder.
Regarding process innovation, Risheng Group and Negri Bossi have introduced a PLA bottle injection molding system that utilizes specialized molds and a universal injection molding machine to produce PLA bottles. Furthermore, significant breakthroughs have been achieved by Benvic, BASF, and Röchling. They have launched Plantura polylactic acid (PLA)-based compounds for durable applications, which are being used in the manufacture of engineering automotive parts such as filter boxes and active grille shutters.
According to AsiaMB, these innovations not only enhance the performance of bioplastics but also drive their application in a wider range of fields. With continuous technological advancements and escalating market demand, the bioplastics industry is poised to embrace a broader development space.