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Growing Trends in Bioplastic Textile Market Estimated to Reach USD 1.5 Billion By 2026

Press release from the issuing company

Biodegradable plastics including polylactic acid, poly (glycolide) and polyhydroxyalkanoate are extensively used in the textile sector owing to the high demand for eco-friendly materials. The myriad functionalities and biomass utilities is likely to upsurge the bioplastic textile industry. The bioplastics are used in textile products such as medical fabrics, sports bags, etc.

Market Drivers:
The changing consumer preferences and inclination toward sustainable products is helping the Bioplastic Textile market gain momentum during the forecast period. Furthermore, the favorable government regulations and environment friendly raw materials will help offer new opportunities for the industry. The negative impact of synthetic fibers on aquatic life and surrounding is increasing the prominence of bioplastic textile across the globe. Additionally, the increasing number of microfibers entering the rivers or oceans despite the wastewater treatment is increasing the demand for bioplastic help prohibit water contamination. The high demand for bio-based products owing to the green credits associated with sustainable product purchase and stringent government policies are likely to generate ample opportunities for the market in the forecast timeline.

According to the research report published by market research Company Facts and Factors, the global Bioplastic Textile market in 2019 was approximately USD 1.04 Billion. The market is expected to grow at a CAGR of 4.5% and is anticipated to reach around USD 1.5 Billion by 2026.

Market Segment Dominance:
Corn starch holds the majority of the market share during the forecast period

The acceptance of corn starch as the basic raw material for the production of PLA is projected to propel the growth of the global Bioplastic Textile market. Additionally, its biodegradable nature and use in the textile, feedstock, and other industries will further surge the market growth. The low cost, easy accessibility and ecofriendly properties of corn starch are estimated to increase its use in the bioplastic textile products.

·Polylactic acid leads the global Bioplastic Textile market

The polylactic acid material is expected to hold the majority of the market share. The dominance of this category is basically due to the polystyrene and polyethylene like properties that is predicted to help it make its way into the textile industry.

·Clothing category is anticipated to lead the market during the forecast period

The clothing category is expected to dominate the Bioplastic Textile market during the forecast period owing to the presence of top market players and development of innovative products.

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Regional Dominance:

·Europe is expected to dominate the global Bioplastic Textiles market

Europe Bioplastic Textile market is expected to dominate the global Bioplastic Textile market during the forecast period. The growth of this market is attributed to the development of innovative materials and growing demand for environmental-friendly and sustainable materials in Europe. Additionally, the stringent government regulations and surging investments has been fueling the demand for bioplastic products.

Key Market Players:
Some of the major players in the global Bioplastic Textile market include Ercros SA, Adidas, Teijin, Lacoste, ZS Fabrics, Gucci, Unitika, Puma, Patagonia, NatureWorks LLC, Reebok, Versace, and Offset Warehouse.

About Us:
Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

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