At 8.8% CAGR, the South & Central America Bioplastics and Biopolymers Market is projected to be worth US$ 932.03 million by 2030 says Business Market Insights

According to Business Market Insights research, the South & Central America bioplastics and biopolymers market was valued at US$  517.77 million in 2023 and is expected to reach US$ 932.03 million by 2030 registering a CAGR of 8.8% from 2023 to 2030. Increasing regulations and policies against traditional plastic, rising demand for eco-friendly plastics in packaging industry, and growing incorporation of biodegradable plastics in biomedical applications are among the critical factors attributed to the South & Central America bioplastics and biopolymers market expansion.        

In the biomedical industry, bioplastics are highly applicable in skin replacements for burnings and wounds, scaffolds for tissue engineering, bone reconstruction, nerves and gum reconstruction, drugs releasing system, blood vessel growth and stent covering. Furthermore, nontoxic biodegradable bioplastics sutures, commonly referred to as stitches, are being used by medical professionals in hospitals and surgeries. Biodegradable plastics are also used for medical devices. For instance, pins, tacks and screws, which are used to help bones heal during reconstructive surgery, are made with bioplastics. Containers for tablets and creams can also be produced utilizing bioplastic. Besides, in the dental industry, bioplastics-based nanocellulose has been used in dental tissue regeneration in humans, produced from microbial cellulose by the Glucanacetobacter xylinus strain. Biodegradable plastics such as PLA; PCL; poly lactic-co-glycolic acid (PLGA) and poly-hydroxyalkanoate (PHA), along with their copolymers, are applied in the human centric biomedical applications. For instance, PLA is widely used in medical applications owing to its biocompatibility and bio dissolvability in the human body by the hydrolysis of the ester backbone to produce non-harmful and nontoxic compounds after its degradation. PLA and its copolymers are also used in wound management applications that includes the manufacturing of surgical sutures, prevention of postoperative adhesions, and the healing of dental wounds. PLA is used in drug delivery systems considering its complete biodegradability, better encapsulation, biocompatibility, and low toxicity. Biodegradable plastics are also used in the orthopaedic applications to avoid a second surgical procedure to remove unnecessary hardware.

Conventional plastic is expected to become more expensive in the future with diminishing raw material sources. The PLA and its copolymers are used in various wound management applications, such as healing dental wounds, making surgical sutures, and preventing postoperative adhesions. PLA has also been implemented in the drug delivery system owing to its encapsulation capacity, low toxicity, and biocompatibility. Thus, all the aforementioned factors are estimated to offer lucrative opportunities for the bioplastics and biopolymers market over the coming years.

On the contrary, lack of infrastructure and recycling facilities for bioplastics and biopolymers hampers the South & Central America bioplastics and biopolymers market.  

Based on product type, the South & Central America bioplastics and biopolymers market is segmented into polyethylene, polyethylene terephthalate, polylactic acid, polytrimethylene terephthalate, polybutylene adipate terephthalate, polybutylene succinate, cellulose, blends, and others. The blends segment held 30.0% share of South & Central America bioplastics and biopolymers market in 2023, amassing US$ 155.51 million. It is projected to garner US$ 294.45 million by 2030 to expand at 9.5% CAGR during 2023–2030.

Based on end-use industry, the South & Central America bioplastics and biopolymers market is divided into packaging, consumer goods, automotive, textile, building and construction, medical, agriculture, and others. The packaging segment held 53.3% share of South & Central America bioplastics and biopolymers market in 2023, amassing US$ 276.23 million. It is projected to garner US$ 522.97 million by 2030 to expand at 9.5% CAGR during 2023–2030.

Based on country, the South & Central America bioplastics and biopolymers market is segmented into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 47.2% share of South & Central America bioplastics and biopolymers market in 2023. It was assessed at US$ 244.39  million in 2023 and is likely to hit US$ 447.83 million by 2030 exhibiting a CAGR of 9.0% CAGR during 2023–2030.      

Key players operating in the South & Central America bioplastics and biopolymers market are Arkema SA, BASF SE, Braskem SA, Cardia Bioplastics Australia Pty Ltd, Corbion NV, Eastman Chemical Co, Mitsubishi Chemical Holdings Corp, Mitsui Chemicals Inc, Novamont SpA, and Saudi Basic Industries Corp, among others.

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