Bioplastics & Biopolymers Market Analysis
Moldable plastic made from chemical compounds derived from or synthesized by microbes such as bacteria or genetically modified plants. Bioplastics are thermoplastics made from bio-based materials like sugar, seaweed, and starch. Biopolymers are a broad category of materials that includes not only bioplastics but also natural polymers such as silk, chitosan, and wool. Starch, cellulose, and alginate are examples of polysaccharides, which are linear or branched polymeric carbohydrates. Natural rubbers (polymers of isoprene), suberin and lignin (complex polyphenolic polymers), cutin and cutan (complex polymers of long-chain fatty acids), and melanin are all examples of biopolymers. Human and animal waste, plant products, and agricultural waste are used to make bio-plastics, which are then recycled and turned into new products using cutting-edge technology. The packaging industry makes extensive use of bioplastics and biopolymers. As a result, bio-based raw materials such as starch and vegetable waste crop by-products, are being used to comply with stringent government environmental regulations. Hence, product quality is lower in this industry than in traditional plastic product manufacturing industries. Bio-plastics are primarily used to store food items and can be stored for longer periods without refrigeration while maintaining chemical properties.
COVID-19 Impact analysis
The outbreak of novel coronavirus (COVID-19) pandemic has caused stock market volatility, tight border controls, and global lockdown, prompting the polymers industry, as well as large companies and governments, to restock supply chains. During the COVID-19 pandemic, the entire world is experiencing severe effects on the social and financial sectors, and all global industries are facing challenges. The coronavirus pandemic has had a mixed impact on the bio-based sector, with some companies assisting with technological solutions to combat the outbreak, while others appear to be seeing increased demand for biodegradable takeaway containers.
Top Impacting Factors
The market for bioplastics and biopolymers is primarily driven by rising demand for plastic convenience and quality food products, rising urban population, which increases food adoption, rising consumption of processed or stored food and packaged food for consumers around the world, growing disposable income of eatable food, and multi-functionality of packaging. One of the end-use industries that dominates the bioplastics and biopolymers market is packaging. Bioplastics, particularly biodegradable bioplastics, are becoming more popular as a replacement for conventional plastics due to environmental concerns. Bioplastics are increasingly being used in bottles, films, clamshell cartons, waste collection bags, carrier bags, mulch films, and food service containers. Furthermore, the market is expected to witness growth due to rising demand for packaged foods, innovation and development in bio-plastic packaging, rising consumer concerns about their health, and rising spending capacity of packaging food owners on food durable products. Changing consumer lifestyles in developed countries, a growing pharmaceutical, food, and other industries, and the emergence of new product development in bioplastics and biopolymers products are expected to provide opportunities for manufacturers in the global market during the forecast period.
Market Trends
- The market is primarily driven by increase in chemicals used by consumers, as well as the growing prevalence of bioplastics and biopolymer markets around the world.
- Demand for packaging, consumer goods, automotive, textiles, agriculture, and other products is increasing in North America, Europe, Asia-Pacific, and Latin America, the Middle East, and Africa.
- Increasing disposable income in developing countries and technological advancements in developed countries to further accelerate market value growth. The percentage use of biodegradable products using innovative methods is expected to stifle market growth.
- Rising investment in cutting-edge technologies and the untapped market of developing economies are expected to create potential opportunities in the bioplastics and biopolymers market during the forecast period.
- The market's growth is being fueled by rising petroleum prices, which have led to the replacement of petroleum-based plastics with biopolymers or bioplastics. This has also contributed to an increase in the number of bioplastics manufacturing units. Furthermore, these plastics have the same properties as PET but are lighter in weight.
- Food and beverage packaging, pharmaceutical packaging, and carry bags are all possible packaging segments for bioplastics and biopolymers. Companies in the PLA industry make extensive use of recyclable products, which help to drive the market. The demand for PLA-based polymers is being driven by the growing demand for environmentally friendly packaging made from bio-based polymers.
- Europe held the largest market share in the bioplastics and biopolymers market, and this dominance is expected to continue throughout the forecast period. The region's major driving factor in the global market is rapid consumption of plastics and rising consumer awareness about bio-based products.
- NatureWorks, Braskem, BASF, Total Corbion, Novamont, Biome Bioplastics, Mitsubishi Chemical Holding Corporation, Biotec, Toray Industries, Plantic Technologies, Arkema, Cardia Bioplastics, Futerro, FKUR Kunstsoff, Green Dot Bioplastics, PTT MCC Biochem, Succinity, Synbra Technology, and Plantic Technologies are among the major players in the bioplastics and biopolymers market.
Key Benefits of the Report
- This study presents the analytical depiction of the bioplastics & biopolymers market 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 bioplastics & biopolymers market share.
- The current market is quantitatively analyzed to highlight the bioplastics & biopolymers market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed bioplastics & biopolymers market analysis based on competitive intensity and how the competition will take shape in coming years
Questions Answered in the Bioplastics & Biopolymers Report
- Who are the leading market players active in the bioplastics & biopolymers 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?
- What are bioplastics & biopolymers?
- What does bioplastics & biopolymers allow organizations to achieve?
- Which technologies combine to make bioplastics & biopolymers critical organizational asset?
- What are the current trends and predicted trends?
Bioplastics & Biopolymers Market Report Highlights
| Aspects | Details |
 By Type |
|
 By End-Use Industry |
|
 By Region |
|
 Key Market Players | BASF, SymBioPolymers, NatureWorks, Cereplast, Braskem, Total Corbion PLA, Y swayed, Dow Chemical, Eastman Chemical, Metabolix. |
Loading Table Of Content...
