Market Size of Thermoplastic Starch (TPS) Industry
| 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 |
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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) 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 |
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Thermoplastic Starch (TPS) Market Size Summary
The thermoplastic starch market is poised for significant growth, driven by increasing demand from the packaging industry and supportive government policies favoring bio-plastics. Despite facing technical challenges, advancements in technology present opportunities to enhance the properties of thermoplastic starch, potentially expanding its application in various sectors. Europe currently leads the market, while the Asia-Pacific region is anticipated to experience the highest growth rate during the forecast period. The market's expansion is further supported by the growing use of thermoplastic starch films, which offer benefits such as biodegradability, low cost, and renewability, making them an attractive alternative to synthetic polymers in packaging applications.
The market landscape is characterized by a consolidated nature, with key players like Versalis SpA, BIOTEC, and Kuraray Co. Ltd actively contributing to its development. Recent strategic moves, such as Versalis's acquisition of Novamont SpA, aim to bolster bio-based product offerings. Innovations like Great Wrap's compostable pallet wrap, produced from food waste, highlight the industry's commitment to sustainability. The packaging sector's significant investments, exemplified by Huatian Technology's substantial financial commitment to advanced packaging research, are expected to further drive demand for thermoplastic starch. These factors collectively indicate a robust growth trajectory for the thermoplastic starch market in the coming years.
Thermoplastic Starch (TPS) Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand from the Packaging Industry
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1.1.2 Favorable Government Policies Promoting Bio-plastics
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1.2 Restraints
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1.2.1 Multiple Technical Constrains Associated with TPS
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Volume)
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2.1 By Manufacturing Type
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2.1.1 Extrusion Molding
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2.1.2 Injection Molding
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2.2 By Application
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2.2.1 Bags
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2.2.2 Films
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2.2.3 3D Print
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2.2.4 Other Applications
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2.3 By Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 ASEAN Countries
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2.3.1.6 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 Italy
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2.3.3.4 France
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2.3.3.5 NORDIC Countries
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2.3.3.6 Rest of Europe
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2.3.4 Rest of the World
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2.3.4.1 South America
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2.3.4.2 Middle East and Africa
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Thermoplastic Starch (TPS) Market Size 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.
