Bioplastics Market Scope
Bioplastic is a biodegradable material that comes from renewable sources and can be used to reduce the problem of plastic waste that is suffocating the planet and polluting the environment. Normal plastic is a petroleum derivative and it is non-biodegradable. Bioplastics are derived from renewable biomass sources such as vegetable fats and oils, corn starch, straw, woodchips, etc. Bioplastics can be used for disposable items like packaging, crockery, cutlery, etc. The global bioplastics market is expected to witness high growth in the near future due to the increasing focus of government and regulatory authorities on environment conservation activities. “In an increasingly eco-conscious environment, the global market for bioplastics is predicted to grow by more than 15 percent over the next five years,“ says Hasso von Pogrell, Managing Director of European Bioplastics. “at 14th European Bioplastics Conference in Berlin., , United States top ‘Bioplastic’ importers details and Repurpose Inc. is top importer in U.S with (76022) followed by True choice pack with (20620) quantity in 2021. Other importers are B Y International Inc., Gallimore Products Inc., Bombay Wholesale and Trade Limited, Bright Future Trade, Epic 9 Inc., Northstar Freight International Inc. and Super Man Trade Inc.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | NatureWorks (United States), Dow Plastics (United States), Braskem (Brazil), Novamont (Italy), BASF (Germany), Total Corbion PLA (Netherlands), Biome Bioplastics (United Kingdom), Bio-On (Italy), Toray Industries (Japan), Plantic Technologies (Australia) and Mitsubishi Chemical Corporation (Japan) |
CAGR | 14.21% |
Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Bioplastics market throughout the predicted period.
NatureWorks (United States), Dow Plastics (United States), Braskem (Brazil), Novamont (Italy), BASF (Germany), Total Corbion PLA (Netherlands), Biome Bioplastics (United Kingdom), Bio-On (Italy), Toray Industries (Japan), Plantic Technologies (Australia) and Mitsubishi Chemical Corporation (Japan) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are BioSphere Plastic (United States), Cereplast (United States) and Solvay (Belgium).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Bioplastics market by Type , by Application (Packaging, Agriculture, Food Service, Automotive Consumer Electronics, Household Appliances and Consumer Goods) and Region with country level break-up.
On the basis of geography, the market of Bioplastics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Asia Pacific on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
On 8th April 2019, Bio-On, an Italian intellectual property company and Kartell, a leading design company launches furniture made from revolutionary bio-material.
Influencing Trend:
Increasing Demand for Sustainable Products by both Consumers and Brands
Market Growth Drivers:
Increasing Focus of Government and Regulatory Authorities on Environment Conservation Activities and Increasing Consumer Awareness
Challenges:
Decomposition of the Bioplastics Releases Methane, Which is More Harmful Greenhouse Gas than Carbon Dioxide and Expensive than Petrochemical Plastics
Restraints:
Increased Raw Material Cost, Dependence on Petroleum-Based Bioplastics and Lower Performance Standards than Synthetic Plastics
Opportunities:
Demand for Eco-Friendly Products and High Demand from Asia Pacific Region
Key Target Audience
Bioplastic Manufacturers, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user