Bio-plastic Additives Market Analysis
Bio-plastic additives are bio-compounds that are added to plastics to improve its final and mechanical properties, performance, and other features while also being environment-friendly. Plasticizers are one of the most prevalent bio-functional additives for improving plastic flexibility. Packaging, electronics, and automotive are some of the end-use applications of plastics that require these additives. There has been an increase in demand for bio-plastics additives in both developed and emerging nations because of environmental restrictions being enacted by the individual governments. Packaging is one of the most common uses for bio-plastic additives around the world.
COVID-19 Impact analysis
- The COVID-19 outbreak in all regions is likely to decline the growth rate of the bio-plastic additives market for next two years, since many production units have been shut down owing to the lockdown, and outputs are not expected to expand much in the near future.
- COVID-19 has wreaked havoc on the global market. Government limitations have had an impact on the manufacturing and supply of commodities, raw materials, and finished goods, which had negatively impacted the bio-plastic additives market.
Top Impacting Factors
The has been an increase in the demand for bio-plastics additives in both developed and emerging nations because of environmental restrictions being enacted by the individual governments. Packaging is one of the most common uses for biobased plastic additives around the world. Plastics are heavily regulated in North America and Europe, particularly those used for food packaging, bottles, food storage, and other applications. As a result, businesses are eager to develop bio-plastic goods and invest in bio-plastics. Increase in uses for environmentally friendly plastics, as well as rising awareness of plastics in emerging nations, are projected to drive the demand for green and bio-plastic additives in the coming years. Due to the highly developed car sectors in China, Korea, Japan, and India, as well as ongoing investments in the region to enhance food processing facilities and electronics throughout time, Asia-Pacific is predicted to dominate the global market. In Asia-Pacific, China and Japan are the largest producers of consumer goods, toys, electronics, and other commodities. The need for bio-plastic additives for these segments has been gradually increasing in recent years as enterprises have tended to use more biobased plastic goods. Due to the recent outbreak of COVID-19 across all regions, the growth rate of the bio-plastic additives market is likely to slow over the next two years, since many manufacturing units have been shut down due to lockout, and outputs are not expected to expand much in the near future.
Market Trends
- Clariant and Floreon have formed a partnership to improve biopolymer performance and market potential. The alliance aims to expand the possibilities for plastic manufacturers by combining Clariant's additives with Floreon's materials.
- To emphasise the strength of its global strategy, SONGWON introduced a new line of flame retardants. The company has taken advantage of its additives expertise to develop a flame-retardant portfolio that will help it expand its halogen-free solutions range.
- The merger of equals between The Dow Chemical Company and E.I. du Pont de Nemours & Company, known as DowDuPontTM, was finalised. Under the name “DowDuPontTM,” the united business operates as a holding company with three divisions: agriculture, materials science, and specialty products.
Key Benefits of the Report
- This study presents the analytical depiction of the Bio-plastic additives’ industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Bio-plastic additives market share.
- The current market is quantitatively analysed to highlight the Bio-plastic additives market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Bio-plastic additives market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the Bio-plastic additives Report
- Who are the leading market players active in the Bio-plastic additives’ market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
Bio-plastic Additives Market Report Highlights
| Aspects | Details |
 By Type |
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 By Application |
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 By Industry Vertical |
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 By Region |
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 Key Market Players | Mitsui Chemical, PolyOne Corporation, BASF SE, Clariant AG, Lanxess AG, Evonik Industries AG, ExxonMobil Chemical, Dow Chemical Company, SABIC, Kaneka Corporation |
 | Emery Oleochemicals, Company 2, Others |
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