Global bio plastics market size is expected to grow at a CAGR of 28.0% over the forecast period from 2017 to 2023. Bio plastics are plastics in which the carbon is derived from renewable biomass sources such as starch, microbiota and vegetable fats and oils. These plastics can be biodegradable or non-biodegradable. These bio plastics are increasingly used in the industry due to hazardous effects of plastics made up of petro based polymers.
The global bio plastics market is likely to be driven by factors such as increasing prices of raw materials for petro based plastics, bio plastics are eco-friendly, support of government bodies and institutions, however the growth in the market is likely to be hampered by over-dependence on agriculture sources such as vegetable oils and fats and starches. The production of these raw materials is inconsistent due to frequently changing climate conditions.
The global bio plastics market is segmented on the basis of materials and by applications type. The materials include Bio-PET, Bio-PE, Bio- PA, biodegradable polyesters, PLA & PLA blends, starch blends, PHA and others, while the application types include bottles, food services, agriculture & horticulture, consumer products, automotive and others. Presently, the global bio plastics market is dominated by its applications in bottling followed by other packaging applications.
The global bio plastics market covers analysis of regions such as North America, Europe, Asia-Pacific inclusive of Australia and RoW (including Latin America, Middle East and Africa). Among the geographies Asia-Pacific is the largest market followed by Europe, North America is anticipated to grow at the highest CAGR over the forecast period.
The companies covered in report include Evonik Industries, Biome Technologies Plc ,Techno Polymer Co. Ltd, Natureworks LLC, BASF SE, FKuR Kunststoff GmbH, Innovia Films, Novamont SPA, Cardia Bio plastics, Metabolix Inc.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand globally as well as regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas and focus 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 value chain analysis of bio plastics. Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the bio plastics that will impact the demand during the forecast period.
The IGR-Growth Matrix analysis provided in this report highlights key investing markets in the world. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors to understand the present and future trends in this market and formulate their strategies accordingly.
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