Growing at double digit CAGR % for next few years, the bioplastics market is getting a push, globally, with governments proposing adoption of bio-based materials as well as the growing consumer awareness and acceptance of bio-plastics. Asia Pacific is driving the regional bioplastics market growth around the world, followed by North America and Europe, wherein regulatory framework and advantages of greener products are helping the industry move forward at a decent pace. Local businesses, with motivation and help from governments, are seeing the opportunities for these eco-friendly and bioplastic products, which is another driver for this industry in emerging economies.
Industries like packaging, automotive, textiles and even medical sector are now getting serious about environment friendly products, which directly helps the bioplastics market across regions and applications. With bioplastics having comparatively higher sustainability characteristics, their product base is expanding faster. Europe led the regional consumption of worldwide bioplastic markets while China and specifically Thailand are emerging as the top production hubs, regionally, for biopolymers and bioplastics. Overall, APAC will lead the regional bioplastics growth due to presence of renewable feedstock in higher quantities in this region against other geographies. Similarly, South America and parts of Central Americas will also see increased activities due to availability of feedstock.
Application wise, rigid packaging lead the industry growth in last few years and may continue to be one of the leading drivers of bioplastics market progress for next 2 to 3 years. Broadly, bioplastics are segmented into non-biodegradable and biodegradable plastics. Further segmentations, respectively, can include Bio-PA, Bio-PE, Bio-PET, Bio-PTT, Bio-PUR as well as PLA, PHA, Polyesters, Starch blends, cellulose esters & others. Companies are looking for consistent raw material supply and sources to beat the inconsistent oil pricing in recent years, which will also boost the bioplastics market. When compared to a year or two back, bioplastics have grown quite fast and yet, at an overall level, the industry is spending a lot on R&D.
The competitive landscape is not only fragmented, but is getting dense in the global bioplastics market. With emerging local and regional players, focusing specifically on green and environmental friendly products, the large / established companies are looking to or actually acquiring these smaller ones. This is one of the common methods to increase bioplastics market share and reach for big players. Technological edge, production capacities and white labels will play a crucial role in shaping the competitive scenario of bioplastics market across the globe. Regionally, the actions and reactions may be different, but overall, consolidation and focus on niche-factors may decide who stays on top of the game.
eMarketOrg.com has added the latest study titled Global Bioplastics Market Research Report 2017 published in May 2017 and spread across 102 pages supported with 122 data tables and figures. Regional data provided in this research covers production, consumption, revenue (million USD), market share and growth rate of bioplastics in North America, Europe, China, Japan, Southeast Asia and India. On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users as well as consumption (sales), market share and growth rate of bioplastics for each application, including construction, packaging, agriculture, medical and others. Companies like Novamont, BASF, Metabolix, Cardia Bioplastics, Corbion Purac, Innovia Films, Biome Technologies Plc and Dow Chemical are profiled with their numbers provided for production, price, revenue (value) and market share. Order a copy of this report at http://emarketorg.com/pro/global-bioplastics-market-research-report-2017/ .