Bioplastic Textiles Market Worldwide Industry Analysis and New Market Opportunities Explored
Global Bioplastic Textiles Market: Key Highlights The global bioplastic textiles market was valued at ~US$ 440 Mn in 2018, and is anticipated to expand at a CAGR of ~12% during the forecast period. The global bioplastic textiles market is driven by the increasing demand for sustainable products among consumers. Europe accounts for a major share of the global bioplastic textiles market, led by the high demand for bioplastic textiles from clothing and automotive manufacturers. Key Drivers of Global Bioplastic Textiles Market Bioplastic textiles are used in diverse applications, such as footwear, clothing, and other accessories. Producers of clothes and footwear have adopted bioplastic textiles, primarily due to climatic changes, volatile prices of petroleum, and high prices of natural gas, which is the key feedstock used in the production of synthetic plastics. Manufacturers not only incorporate bioplastic textiles into their products, but also promote their products as environmentally-safe. Thus, various initiatives by renowned brands are augmenting the demand for bioplastic textiles. Rain Poncho, produced by Spain-based Equilicua, is the perfect example of bioplastic protective coatings. This raincoat is produced from potato starch. Rain Poncho is non-toxic; it does not pollute the environment; and is 100% compostable and biodegradable. Moreover, the information printed on this raincoat informs the user about the benefits of bioplastic textiles and biodegradable materials. Gucci, a prominent company based in Italy, has developed eco-friendly men’s and women’s shoes made of bioplastic and biodegradable materials sourced from compost. Moreover, PUMA SE, a notable Germany-based player, has also started production of sneakers and shirts that contain biodegradable bioplastics. The upper part of PUMA’s sneaker base is made from cotton and linen blends, while the sole is made of bioplastics. Additionally, bioplastic textiles are largely used in the production of car interiors, seats, and other parts. If an average cars weighs 1,500 kg, it contains 15-20 kilograms of textile and textile components. Thus, the global market for bioplastics textiles is expected to expand during the forecast period, owing to rising demand from various textile manufacturers. Polylactic Acid (PLA) to Witness Attractive Opportunities Polylactic acid (PLA) is a biodegradable plastic derived from agricultural sources such as sugarcane, potatoes, and tapioca roots. Due to its degradable nature, polylactic acid has several applications. It is completely degradable under compost conditions. Polylactic acid is used to obtain products with a long lifespan. PLA is available on an industrial scale, and its production