Asia-Pacific Bioplastics Market Analysis, 2013–2023

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Because of the rising awareness amongst the consumers regarding environmental hazards posted by traditional plastics, there has been a shift towards bioplastics. Bioplastics are those plastics that are prepared from natural materials and are considered eco-friendly. The increasing number of restrictions and bans posted by the government in Asia-Pacific region is also a significant contributor towards the growing demand for bioplastics amongst users. For example, In July 2017, Zimbabwe banned expanded polystyrene. Additionally, South Australia have state-wide bans on single-use plastic bags, and Queensland is also expected to follow in July 2018.
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The packaging industry is the biggest consumer for bioplastics in the region and accounts for almost 80% of the total consumption. To cater to the demand for bioplastics by the consumers, many companies have enhanced their production capacity, and it is expected that more manufacturers will join the trend.
The report on Asia-Pacific bioplastics market presents the crux of over 250 hours of research to assess the present market scenario. As per the report, the Asia-Pacific bioplastics market has been pegged at the US $ XXXX billions in 2017, and it is expected that by the year 2022, it will touch the annual consumption of US $ XXXX billions. This translates into CAGR of XXXX% year on year basis. In terms of quantity, the figure has been estimated at around XXXX MT in 2017, and it is expected that by 2022, the total consumption would go beyond the levels of XXXX MT, that means a CAGR of XXXX %.
The primary growth drivers behind the rising demand for the Asia Pacific bioplastic market is the favorable government policies across the APAC region encouraging the use of bioplastics. Additionally, the demand for bioplastic packaging is increasing due to general awareness among the consumers regarding the hazardous environmental effects of the traditional use of plastic in packaging.
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The significant impediments that can affect the growth of bioplastics market in the Asia-Pacific region are lack of composting facilities for bioplastics, higher costs of processing for bioplastics, and complicated and expensive recycling process. China is the leading consumer of bioplastics in the region, closely followed by Japan, Korea, and India. The packaging industry is thriving and booming across all these countries and is going to be the biggest consumer of bioplastics in the world.
The key influencers for the bioplastic market in the Asia-Pacific region are Toyota Tsusho, Indorama Ventures, and Toray Industries.
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Our Approach
At Market Krystal, we believe in a step-by-step problem-solving approach towards the problem at hand. The process begins with the bifurcation of various bioplastic market segment, followed by identification of various factors and its effect on each segment of the Asia-Pacific bioplastics market. Therefore, bioplastic market is classified based on type (biodegradable, non-biodegradable), application (Flexible packaging, rigid packaging, agriculture, textile, electronics, automotive, construction, and others) and geography (China, Japan, India, Indonesia, Others). Then, different types of bioplastics were then studied for different applications in different countries within the Asia-Pacific region. Finally, the market size for each segment is projected based on the opinions made by the industry leaders from diverse functionalities and locations

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