Thermoplastic Starch Market Is Propelled By Growing Use In...

Thermoplastic Starch Market Is Propelled By Growing Use In Bioplastics Manufacturing

Posted 2024-05-24 12:27:00

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The thermoplastic starch (TPS) market has grown significantly over the past decade owing to the increasing use of TPS in bioplastics manufacturing. TPS is a biodegradable thermoplastic material produced from starch, a renewable resource that is fully biodegradable. TPS has gained widespread acceptance as an eco-friendly alternative to conventional petroleum-based plastics owing to its renewability, biodegradability, flexible moldability, and excellent mechanical properties. TPS can be easily processed like conventional plastics using techniques such as injection molding, extrusion, and thermoforming. Major end-use applications of TPS include food packaging, food service wares, disposable tablewares, and Shopping bags among others.

The Global Thermoplastic Starch (TPS) Market is estimated to be valued at US$ 268.89 Billion in 2024 and is expected to exhibit a CAGR of 9.6% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the Thermoplastic Starch Market Share are Access Scanning Document Services, LLC, Ripcord, Inc., Armstrong Archives, LLC, Chicago Records Management Inc., Cube Records Management Services, The Scanning Company, Smooth Solutions Inc., VENSO Technologies, Shoreline Records Management, Inc., Pearl Scan, iGuana, Cleardata UK Ltd., KnowledgeLake, Microimage Technologies Limited, ScanWorld Station Limited, The Apache Software Foundation, Advanced Data Solutions, Inc., Blue-Pencil Information Security Inc., Iron Mountain Inc., Flatworld Solutions Pvt. Ltd., Royal Imaging, Pacific Records Management, DataGuard USA (Record Nations), Scanning America Inc. The major players are focused on developing innovative products and expanding their presence in high-growth markets through partnerships and acquisitions.

The demand for thermoplastic starch is increasing owing to the growing environmental awareness among consumers and stringent regulations regarding the use of conventional plastics. TPS is fully biodegradable and breaks down into carbon dioxide, biomass and water with no toxic residues. This makes TPS an attractive alternative to petroleum-based plastics.

Major thermoplastic starch manufacturers are focusing on expanding their production capacities and global footprint to capitalize on the growth opportunities in developing markets. The Asia Pacific region, especially China and India, represents the largest and fastest growing market for thermoplastic starch globally driven by strong demand from the packaging industry. Manufacturers are investing in production facilities, R&D centers and partnerships in the region.

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