The bioplastics market is projected to be worth USD 25.27 Billion by 2027, according to a current analysis by Emergen Research. The bioplastics market is experiencing rapid growth attributed to its increasing demand in end-use applications, such as packaging, textile, automotive & transportation, consumer goods, agriculture, and building & construction. Besides, supportive government initiatives and offering subsidies to promote the growth of bioplastics are driving the market’s growth. In 2018, the Japanese Ministry of Environment made an announcement for the inclusion of USD 45.0 million/JPY 5.0 Billion in the FY2019 budget for developing products manufactured from bio-plastics and provide subsidies to firms that make paper substitutes to plastic.
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Top Companies Operating in the Bioplastics Market and Profiled in the Report are: BASF SE, NatureWorks, Biome Plastics, Braskem, Biotec, Total Corbion, Plantic Technologies, Mitsubishi Chemical Holdings Corporation, Novamont SPA, and Toray Industries, among others.
Key Highlights From The Report
- In February 2018, Teijin Ltd. made an announcement about the development of a formable film, which is resistant to gasoline and produced from PLA NEXT® bioplastic to substitute chrome plating, adopted by Honda Lock Mfg. Co., Ltd. for use in the nonconductive door handles having smart-entry systems.
- Non-biodegradable bioplastics contributed to a larger market share of around 60.0% in 2019, owing to its widespread usage attributed to its low cost, durability, and versatility. Polylactic acid (PLA) is the most widely used non-biodegradable bioplastic.
- Polyethylene Furanoate (PEF), a biodegradable bioplastic, is currently under development and is estimated to be commercially available by 2023.
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The research report on the Bioplastics market is formulated through extensive primary and secondary research along with qualitative and quantitative analysis of vital aspects of the market. The insightful data is further validated and verified by the industry professionals. The report strives to offer deeper insights into the overall market scenario of the Bioplastics business sphere.
The global Bioplastics market is broadly segmented on the basis of different product types, application range, end-use industries, key regions, and an intensely competitive landscape. This section of the report is solely targeted at readers looking to select the most appropriate and lucrative segments of the Bioplastics sector in a strategic manner. The segmental analysis also helps companies interested in this sector make optimal business decisions and achieve their desired goals.
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Emergen Research has segmented the global bioplastics market on the basis of type, distribution channel, application, and region:
- Type Outlook (Revenue, USD Billion; 2017-2027)
- Polybutylene Adipate Terephthalate (PBAT)
- Polybutylene Succinate (PBS)
- Polylactic Acid (PLA)
- Polyhydroxyalkanoate (PHA)
- Starch Blends
- Polyethylene (PE)
- Polyamide (PA)
- Polyethylene Terephthalate (PET)
- Polytrimethylene Terephthalate (PTT)
- Polypropylene (PP)
- Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Automotive & Transportation
- Consumer Goods
- Building & Construction
Bioplastics Market Segmentation by Regions:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key questions addressed in the report:
- Who are the leading players dominating the global Bioplastics Market?
- Which factors could potentially hamper the global market growth during the forecast period?
- Which regional market offers the most attractive growth opportunities to the companies operating in this market?
- How is the raw material availability affecting the demand for Bioplastics in this industry vertical?
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The post Bioplastics Market size is projected to reach USD 25.27 Billion by 2027 at a CAGR of 14.9% | By Emergen Research appeared first on Market O Graphics.