recent report published by Infinium Global Research on bio plastics market provides an in-depth analysis of segments and sub-segments in the global as well as
regional bio plastics market. The study also highlights the impact of drivers,
restraints, and macro indicators on the global and regional bio plastics market
over the short term as well as long term. The report is a comprehensive
presentation of trends, forecast and dollar values of global bio plastics market.
According to the report, the global bio plastics market is projected to grow at
a CAGR of 13.40% over the forecast period of 2020-2026.
plastics are generally sourced from renewable biomass sources, comprising
cellulose, plant starch, natural sugars, vegetable fats and oils, and even from
novel sources such as seaweeds, insects, and animals. All the bio plastics are
not bio-degradable; though, a large volume of plastics can be easily and
naturally degraded, which makes them superior to traditional plastics. As a
substitute to traditional plastics, the usage of bio plastics is being promoted
for applications where conventional plastics are utilized, comprising
packaging, textile, electronics, automotive, and furniture. Due to the
increasing regulations imposed by various agencies on the use of non-renewable
and single-use plastics, numerous industries are focusing on the development
and utilization of bio plastics for several purposes. Furthermore, bio plastics is a field wherein research activities are being carried out on a huge scale,
both from individuals and corporates, to create a sustainable environment for future
upsurge in the adoption of biodegradable products and improvement in the scope
of bio plastics across end-user industries boosts the growth of the bio
plastics market. Bio plastics have the potential to reduce carbon dioxide
emission by 30%-70%, as related to conventional synthetic plastic. Bio plastics
production is a cost-effective and efficient procedure. Additionally, the
greenhouse gas emission of bio plastics is negligible during the time of
degradation. Bio plastics represents a 42% decline in carbon footprints. Due to
these advanced technical properties and functionalities, leading companies,
such as Coca-Cola, Nike, Nestle, and Ford are exhibiting their interest in the
production and usage of bio plastics materials, across numerous applications.
On the other hand, high production costs and comparatively limited performance
standards as compared to traditional plastics hinder the bio plastics market
growth to a certain extent.
Europe region is anticipated to witness substantial growth in the global bio
plastics market owing to the advanced government policies encouraging the
growth of bio plastics products. Moreover, the factors such as high disposable
income, ease of availability, improvement in living standards extensive
variety, and presence of domestic as well as international players in the
market are driving the market growth.The Asia Pacific region is projected to
witness the fastest-growing region during the forecast period owing to the
increased contract manufacturing activities and proactive switching from
conventional plastics to more environment-friendly materials. South America and
Middle East & Africa are likely to expand at a healthy pace in the coming
years due to the increased government interest in promoting the use of biodegradable
plastic products by providing certain incentives that are likely to boost
demand for bio plastics market in the region.
report on global bio plastics market covers segments such as type, and
application. On the basis of type, the sub-markets include non-biodegradable,
and biodegradable. On the basis of application, the sub-markets include
packaging, textile, consumer goods, agriculture & horticulture, automotive
& transportation, and others.
report provides profiles of the companies in the market such as UrthPact, LLC,
Biome Technologies Plc, Toray industries Inc, NatureWorks LLC, BASF SE, FKuR
Kunststoff GmbH, Futamura Chemical Company Limited, Novamont S.p.A, Mitsubishi
Chemical Holdings Corporation, and Thong Guan.
report provides deep insights into the demand forecasts, market trends, and
micro and macro indicators. In addition, this report provides insights into the
factors that are driving and restraining the growth in this market. Moreover,
The IGR-Growth Matrix analysis given in the report brings an insight into the
investment areas that existing or new market players can consider. The report
provides insights into the market using analytical tools such as Porter's five
forces analysis and DRO analysis of bio plastics market. Moreover, the study
highlights current market trends and provides forecast from 2020-2026. We also
have highlighted future trends in the market that will affect the demand during
the forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.