Bioplastics Market - Industry Forecast, Size, Share:
In 2014, the market for bio-plastics stood at 4,869.2 kilo tons and is expected to grow at a CAGR of 17.5% during the forecast period 2015-2020. Bioplastics are the family of plastics derived from the renewable feedstocks such as corn, sugarcane and cellulose. Eco-friendly nature, availability of renewable feedstocks and favorable government policies were the prime reasons for manufacturers to shift towards bio-based plastics. Increasing adoption of biodegradable plastics, new trends and increasing popularity in the end user industries are the key factors driving the growth of bioplastics market. However, its high production cost may hamper the industry growth to a certain extent.
Bioplastics are consumed across wide range of industries such as rigid packaging, flexible packaging, textiles, consumer goods, agriculture, construction, electrical & electronics and similar others. In 2014, the consumption of bioplastics in rigid packaging was highest and is expected to retain its lead through 2020. Bioplastics possesses properties such as gloss, barrier effect, antistatic behavior and printability among others, which makes it suitable for rigid packaging application. This has created greater opportunities in the sector. Furthermore, packaging industries have substantial curiosity for the biodegradability as packaging is needed for short period but in enormous quantity, results in the accumulation of waste. Therefore, packaging industry consumes bioplastics to decrease or recycle the accumulated waste products.
Bioplastics market report has been segmented by type as biodegradable and non-biodegradable plastics. Furthermore, biodegradable is segmented into PLA, PHA, Polyesters, Starch blends and others (cellulose esters & others) and non-biodegradable is segmented into Bio-PA, Bio-PE, Bio-PET and others (Bio-PTT, Bio-PUR and epoxies). In 2014, the consumption of non-biodegradable plastics was highest owing to its properties similar to that of traditional plastics despite of being bio-based.
Geographically, the market has been segmented into North America, Europe, and Asia Pacific & LAMEA. In 2014, Europe was highest revenue generating segment. European policy-makers support to the European bioplastics manufactures and increasing adoption in the Germany, Italy and United Kingdom are the key factors responsible for the growth of bioplastics industry in Europe. However, Asia Pacific will be the fastest growing industry and is expected to grow at a CAGR of 19.6% during the forecast period 2015-2020 attributable to the increasing size and lions share investments made by the global giants in the region due to availability of huge renewable feedstock.
Competitive Intelligence on few prominent manufacturers in the report provides key insight in terms of strategies implemented to gain significant share in the bioplastics market. Year 2012 and 2013 had played a significant role in setting up a strong base for the industry expansion as most of the strategies were formulated during these periods. For smoothening the operation and retaining their competitiveness in the global market, the top players are adopting some key developmental strategies including partnership, expansion, collaboration, joint venture, merger and product launch. Some of the leading manufacturers profiled in this report includes Novamont SPA, Metabolix Inc., BASF SE, Natureworks LLC, Corbion Purac, Braskem, Cardia Bioplastics, Biome Technologies Plc, FKuR Kunststoff GmbH and Innovia Films.
KEY MARKET BENEFITS:
- The research includes extensive analysis of the factors driving growth, restraining and creating opportunities in the global bioplastics market.
- The market projections for the forecast period 2014-2020 along with market size (Volume & Revenue) have been included along with factors affecting the same.
- The report also provides quantitative as well as qualitative industry trends to help the stakeholders in understanding the situations prevailing in the market.
- An in-depth research and analysis of key segments demonstrates stakeholders with different types of bioplastics consumed across different industries across the globe.
- SWOT analysis conducted during the research enables to study the internal environment of the leading companies for strategy formulation.
- Competitive intelligence highlights the market share and business practices analysis followed by the leading players across various geographies.
KEY MARKET SEGMENTS:
The market for global bioplastics is segmented as:
- By Types
- Starch Blends
- Others( Cellulose Esters & Others)
- Others (Epoxies, Bio-PUR and Bio-PTT)
- By Application
- Rigid Packaging
- Flexible Packaging
- Agriculture & horticulture
- Consumer Goods
- Automotive Transport
- Electrical electronics
- Building & Construction
- By Geography
- North America
- Asia Pacific