Market Size of Thermoplastic Starch (TPS) Industry
| Study Period | 2019-2029 |
| Market Volume (2024) | 219.20 kilotons |
| Market Volume (2029) | 333.92 kilotons |
| CAGR (2024 - 2029) | 8.79 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
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 219.20 kilotons in 2024, and is expected to reach 333.92 kilotons by 2029, growing at a CAGR of 8.79% during the forecast period (2024-2029).
The COVID-19 pandemic had a negative impact on the market in 2020. During that time, manufacturing activities were temporarily halted, reducing the usage of thermoplastic starch as a component and thereby impacting the market. However, with the ease of the restrictions, the market started to gather pace over the past couple of years.
- The increasing demand from the packaging industry and favorable government policies regarding the increased usage of bio-plastics are likely to fuel the market expansion.
- On the contrary, multiple technical constraints associated with TPS will likely hinder the market's growth.
- The technological advancements and innovation to enhance the properties of thermoplastic starch is likely to act as an opportunity in the forecast period for the market studied.
- Europe is the leading region in the global thermoplastic starch market, whereas Asia-Pacific is the fastest-growing region in the market studied.
