Report Code: A12561 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
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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
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
Key Benefits of the Report
Questions answered in the Bio-plastic additives Report
Bio-plastic Additives Market Report Highlights
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Key Market Players | Lanxess AG, SABIC, Evonik Industries AG, Kaneka Corporation, ExxonMobil Chemical, Clariant AG, Dow Chemical Company, BASF SE, Mitsui Chemical, PolyOne Corporation |
Emery Oleochemicals, Company 2, Others |
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