The global Bioplastics market is forecasted to reach a value of US$8.05 billion in 2023 and is projected to grow at a CAGR of 20.5% during the forecast period 2023-2033.

In order to implement appropriate sorting mechanisms, manufacturers are identifying new infrastructure for segregating and collecting mixed plastics at recovery plants. The number of materials recovered at these facilities is directly proportional to the effectiveness of the selecting procedure.

The growth in the refractories manufacturing industries led to an increased demand for graphite.

The significant development in the construction sectors such as ongoing road and railway infrastructure projects, residential, office, housing, and warehouse construction activities are augmenting the market growth.

The market growth is attributed to the rising economic development, and consequent rise in consumer spending across emerging economies such as India, China, and Japan. Furthermore, strong growth in organized retail and surge in e-commerce are some of the key factors which are anticipated to boost the thin wall packaging market growth across these emerging economies.