Automotive Bioplastics Market Size, Share, Demand & Growth by 2033
The global automotive bioplastics market value is likely to jump from US$ 761.06 million in 2023 to US$ 2,103.28 million by 2033. This estimated growth is expected to be driven by a CAGR of 10.7% in the global automotive bioplastics market over the next decade. Industries like automotive and transport are increasingly using bioplastics to develop automotive parts, thus fueling the market growth. To add to the surging momentum, the market is observing the emergence of new feedstocks like biowaste, algae, and CO2 taken from the atmosphere. This is expected to drive innovations in the product composition and its capabilities. The market for automotive bioplastics is further driven by new research studies investigating new bioplastics potentialities. Recent research and development efforts by the Institute for Bioplastics and Biocomposites’ (IfBB) researchers at Hannover University of Applied Sciences is a good case. The researchers at the university are developing bi...