BANGALORE, India, Nov. 12, 2019 /PRNewswire/ -- The Europe bioplastics market generated the highest revenue in 2017. Favorable policies for bioplastics manufacturers by the European policy makers and increase in adoption of bioplastics in Germany, Italy, and the UK are the key factors that drive the growth of the bioplastics market in the region.
However, Asia-Pacific is projected to be the fastest growing market in terms of revenue and consumption, registering a CAGR of 20.4% from 2018 to 2024.
Global Bioplastics Market Analysis
The global market for bioplastics is changing, and businesses are now more focused on improving and consolidating R&D activities, thus increasing production capacity. The use of bioplastic has increased tremendously through different applications due to the advanced technical properties and functionalities.
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Market growth is driven by favorable government policies for sustainable and biodegradable products, increased availability of renewable feedstock, and increased consumer acceptance of environmentally friendly products. Higher bioplastics prices relative to conventional plastics and poor performance standards, however, hamper market growth. Today, the use of bioplastics in rigid packaging is the highest and is expected to dominate by 2024 due to the properties of bioplastics such as gloss, barrier effect, and antistatic behavior in combination with increased consumer awareness of the environment.
Advances in R&D activities lead to the development of innovative products for bioplastics, which further facilitate the price reduction of bioplastics. Growing demand for non-biodegradable plastics based on polyethylene terephthalate is expected to drive market growth.
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Trends Affecting Bioplastics Market Share
- Eco-friendly properties
- Availability of renewable feedstock
- Favorable government policies which enable manufacturers to adopt bio-based plastics
- Increase in adoption of biodegradable products
- Improvement in scope of bioplastics across end-user industries
Key Takeaway Form Stakeholders From Bioplastics Market Report:
- This report provides a quantitative analysis of the current trends, estimations, and dynamics of the global bioplastics market from 2017 to 2024 to identify the prevailing market opportunities.
- The key countries in all the major regions have been mapped based on their market share.
- Porter's Five Forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier‐buyer network.
- In-depth analysis of the market segmentation assists in determining the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global industry. Market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of market players.
- The report includes in details the analysis of the regional as well as global market, key players, market segments, and application areas, and growth strategies.
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Sections In Global Bioplastics Market
1) Segments In Bioplastics Market Based On Type
- Biodegradable Bioplastic
- Polylactic Acid (PLA)
- Polyhydroxyalkanoate (PHA)
- Starch Blend
- Polyester (PBAT & PBS)
- Cellulose Acetate
- Non-biodegradable Bioplastic
- Polyethylene Terephthalate
- Others (PA, PE, EPDM, and PTT)
2) Segments In Bioplastics Market Based On Application
- Rigid Packaging
- Flexible Packaging
- Agriculture & Horticulture
- Consumer Good
- Building & Construction
3) Segments In Bioplastics Market Based On Region
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South Africa
- Saudi Arabia
- Rest of LAMEA
Reports Covering Specific Subsets Of Bioplastics
Global Bioplastics and Biopolymers Market :
Global Degradable Bioplastics Market:
Global Bioplastics for Packaging Market :
Global Horticulture Bioplastic Market :
Global Bio Based Biodegradable Plastics Market :
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