Thermoplastic Starch (TPS) Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 7.39 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Thermoplastic Starch (TPS) Market Analysis
The Thermoplastic Starch Market size is estimated at 171.79 kilotons in 2024, and is expected to reach 245.35 kilotons by 2029, growing at a CAGR of 7.39% during the forecast period (2024-2029).
- Over the short term, increasing demand from the packaging industry and favorable government policies promoting bio-plastics are expected to drive the growth of the market studied.
- However, multiple technical constraints associated with thermoplastic starch (TPS) are likely to hinder the market's growth.
- Technological advancements and innovations to enhance the properties of thermoplastic starch are likely to act as an opportunity for the market studied during the forecast period.
- Europe emerged as the largest market for thermoplastic starch, while Asia-Pacific is expected to witness the highest CAGR between 2024 and 2029.
Thermoplastic Starch (TPS) Market Trends
Films Segment to Dominate the Market
- Thermoplastic starch films lucidly use natural resources, which help reduce environmental pollution. Thermoplastic starch films present many advantages, such as biodegradability, low cost, ease of processing, and renewability. Starch films are being used as promising commercial preservation films to extend the shelf life of food.
- TPS films have poor water vapor barrier properties, low permeability to gases, and resist the tensions arising from their usage in packaging. The increasing use of thermoplastic starch as a filler in plastic films to improve their biodegradability has enhanced their application in the packaging sector.
- Thermoplastic starch (TPS) is a starch derivative and is widely accepted as the most suitable material to replace synthetic polymers in the packaging industry.
- Hydrolyzed cornstarch films, as a sustainable packaging material, offer several advantages, such as biodegradability, reusability, and reduced environmental impact compared to other traditional petroleum-based plastics.
- Many companies are opting for sustainable packaging materials. For instance, Ingredion, a US-based global ingredients solutions company, offers CRISP FILM, a high amylose, white to off-white colored corn starch. The products offer good film-forming characteristics and act as an excellent protective barrier when it is used as a coating for fried foods.
- According to the United States Department of Agriculture, scientists from the Agricultural Research Service (ARS) developed starch-based films, or coatings, that can make paper and other materials more water-resistant and biodegradable. The film product is widely used in plastic bags, food packaging, and other products, thus reducing the amount of synthetic products that are clogging landfills.
- As per the analysis of Mordor Intelligence, the films segment in the thermoplastic starch market is expected to register a CAGR of 6.77% between 2024 and 2029.
- Significant investment in the packaging sector is likely to boost demand in the market studied. For instance, in March 2023, Huatian Technology made significant strides by investing CNY 2.858 billion (~USD 0.42 billion) in its wholly-owned subsidiary, Huatian Technology (Jiangsu) Co. Ltd, for the construction of the "High-Density, High-Reliability Advanced Packaging Research and Industrialization" project. The construction period spans five years, from June 2023 to June 2028.
- Therefore, all these factors are expected to impact the market’s demand during the forecast period.
Europe is Expected to Dominate the Market
- In Germany, packaging solutions are used for various customized products and innovation development. Further, smaller pack sizes are in high demand across the county in the packaged food sectors. According to the Statistisches Bundesamt's data, the revenue of the packaging sector in Germany in 2023 accounted for EUR 32.5 billion (~USD 35.87 billion).
- Germany is one of the leading 3D printing markets in Europe. The country has a renowned engineering heritage, which led to the establishment of various manufacturing facilities in industries that can assist international investors with their expansion into Europe.
- According to the Packaging Federation of the United Kingdom, the UK packaging manufacturing industry registers annual sales of around GBP 14 billion (~USD 17.82 billion). It employs over 85,000 people, representing 3% of the UK manufacturing workforce.
- Italy is one of the largest agricultural producers and food processors in the European Union. Moreover, Italy's agricultural sector and agri-food system strongly contribute to the country's economy, accounting for around 2% and 15% of the GDP, respectively, in 2023.
- According to the National Institute of Statistics and Economic Studies (INSEE), in 2023, agricultural production generated an annual revenue of EUR 56.6 billion (~USD 60.96 billion) compared to EUR 58.7 billion (~USD 63.22 billion) in 2022 due to unfavorable macroeconomic factors, high energy costs, and others, thus negatively impacting the market studied.
- Hence, with the abovementioned factors, demand in the thermoplastic starch market is likely to be affected in the European market.
Thermoplastic Starch (TPS) Industry Overview
The thermoplastic starch (TPS) market is consolidated in nature. Some of the major players (not in any particular order) in the market include Versalis SpA, BIOTEC, Kuraray Co. Ltd (Plantic ), AGRANA Beteiligungs AG, and Grupa Azoty.
Thermoplastic Starch (TPS) Market Leaders
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Versalis SpA
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BIOTEC
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Kuraray Co. Ltd (Plantic )
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AGRANA Beteiligungs AG
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Grupa Azoty
*Disclaimer: Major Players sorted in no particular order
Thermoplastic Starch (TPS) Market News
- October 2023: Versalis announced its acquisition of Novamont SpA. Through this acquisition, Versalis aimed to strengthen its bio-based product portfolio significantly.
- March 2023: Great Wrap announced the launch of the world's first compostable pallet wrap manufactured using food waste. The company completed commercial trials and is expected to establish the largest stretch wrap manufacturing facility in the country. The 10,000-sq. m plant located in Tullamarine is equipped with a state-of-the-art cast extruding line for the film. Currently, the facility is running at a capacity of 5,000 tons. The company has confirmed that by year-end, its capacity is expected to double to 10,000 tons and is expected to reach 20,000 tons by 2025.
Thermoplastic Starch (TPS) Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Increasing Demand from the Packaging Industry
- 4.1.2 Favorable Government Policies Promoting Bio-plastics
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4.2 Restraints
- 4.2.1 Multiple Technical Constrains Associated with TPS
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Volume)
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5.1 By Manufacturing Type
- 5.1.1 Extrusion Molding
- 5.1.2 Injection Molding
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5.2 By Application
- 5.2.1 Bags
- 5.2.2 Films
- 5.2.3 3D Print
- 5.2.4 Other Applications
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5.3 By Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 ASEAN Countries
- 5.3.1.6 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 Italy
- 5.3.3.4 France
- 5.3.3.5 NORDIC Countries
- 5.3.3.6 Rest of Europe
- 5.3.4 Rest of the World
- 5.3.4.1 South America
- 5.3.4.2 Middle East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 AGRANA Beteiligungs-AG
- 6.4.2 Biome Bioplastics Limited
- 6.4.3 Biotec Biologische Naturverpackungen GmbH & Co. KG
- 6.4.4 Biologiq Inc.
- 6.4.5 Cardia Bioplastics
- 6.4.6 Great Wrap
- 6.4.7 Grupa Azoty SA
- 6.4.8 Kuraray Co. Ltd
- 6.4.9 Rodenburg Biopolymers
- 6.4.10 Versalis SpA
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Technological Advancements and Innovation to Enhance the Properties of Thermoplastic Starch
Thermoplastic Starch (TPS) Industry Segmentation
Thermoplastic starch (TPS) is a homogenous product made from native starch, water, and additional plasticizers such as glycerol, sorbitol, and glucose. It is used mainly in packaging materials, and some utilize bio-fillers or fiber in the formulation to enhance bio-based plastic.
The thermoplastic starch market is segmented by manufacturing type, application, and geography. By manufacturing type, the market is segmented into extrusion molding and injection molding. By application, the market is segmented into bags, films, 3D print, and other applications. The report also covers the market size and forecasts for the thermoplastic starch market in 11 countries across major regions. For each segment, the thermoplastic starch market sizing and forecasts were made based on volume (tons).
| By Manufacturing Type | Extrusion Molding | |
| Injection Molding | ||
| By Application | Bags | |
| Films | ||
| 3D Print | ||
| Other Applications | ||
| By Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| ASEAN Countries | ||
| Rest of Asia-Pacific | ||
| By Geography | North America | United States |
| Canada | ||
| Mexico | ||
| By Geography | Europe | Germany |
| United Kingdom | ||
| Italy | ||
| France | ||
| NORDIC Countries | ||
| Rest of Europe | ||
| By Geography | Rest of the World | South America |
| Middle East and Africa |
Thermoplastic Starch (TPS) Market Research FAQs
How big is the Thermoplastic Starch Market?
The Thermoplastic Starch Market size is expected to reach 171.79 kilotons in 2024 and grow at a CAGR of 7.39% to reach 245.35 kilotons by 2029.
What is the current Thermoplastic Starch Market size?
In 2024, the Thermoplastic Starch Market size is expected to reach 171.79 kilotons.
Who are the key players in Thermoplastic Starch Market?
Versalis SpA, BIOTEC, Kuraray Co. Ltd (Plantic ), AGRANA Beteiligungs AG and Grupa Azoty are the major companies operating in the Thermoplastic Starch Market.
Which is the fastest growing region in Thermoplastic Starch Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Thermoplastic Starch Market?
In 2024, the Europe accounts for the largest market share in Thermoplastic Starch Market.
What years does this Thermoplastic Starch Market cover, and what was the market size in 2023?
In 2023, the Thermoplastic Starch Market size was estimated at 159.09 kilotons. The report covers the Thermoplastic Starch Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Thermoplastic Starch Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Thermoplastic Starch Industry Report
Statistics for the 2024 Thermoplastic Starch (TPS) market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Thermoplastic Starch (TPS) analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
