Bioplastics Market Incredible Growth 2027 : BASF SE, Braskem S.A., Koninklijke DSM N.V., Arkema S.A., Innovia Films, Ltd., Metabolix, Inc.

Bioplastics are plastics products derived from renewable biomass sources such as oil, vegetables, corn starches, sawdust, grains, recycled food waste, etc. Bioplastics can be produced from used plastic and agricultural by-product. Some of the bioplastics are polyhydroxyalkanoate (PHA), polybutyrate adipate terephthalate (PBAT), polylactic acid (PLA), polybutylene succinate (PBS), and starch blends.

The global bioplastics market was estimated to be valued more than US$ 35 billion in terms of revenue in 2019 and is predicted to grow at a CAGR of 25.8% during the forecast period (2020 to 2027).

Competitive Section
Key players are operating in the global pigments market are BASF SE, Braskem S.A., Koninklijke DSM N.V., Arkema S.A., Innovia Films, Ltd., Metabolix, Inc., NatureWorks, LLC, Novamont S.p.A., The Dow Chemical Company, and Total Corbion PLA

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Market Opportunities
The advent of nanotechnology-based bioplastic is expected to bring profitable opportunities for the market in the near future. Nano-technology ensure product safety, monitor food spoilage, and improved performance of the bioplastic. The use of nanotechnology enhances physical properties such as strength, barrier properties, and durability. Nanotechnology-based bioplastic is gaining tremendous demand from the food &beverage industry for the packaging of food products.

Market Trends
Growing fashion trends among consumers are creating demand for highly fashionable apparel such as clothes and shoes. Nowadays bioplastic such as polyamide and polylactic acid is majorly used in the production of textile products such as clothes and shoes. Moreover, bioplastics are also used in the production of wall mountings, containers, and sculptures which is again expected to augment the market growth of bioplastic.

Partnership and agreements among manufacturers for expanding business presence on a global level is a key trend in the market. For instance, in May 2020, Neste and Covestro entered into strategic cooperation in Europe to promote the use of sustainable raw materials in plastics production. In this partnership, Covestro will be supplied with material from renewable sources for the production of polycarbonates from Neste’s renewable hydrocarbons.

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Detailed Segmentation:
• Global Bioplastics Market, By Product Type:
◦ Bio-PET
◦ Bio-PE
◦ PLA and PLA Blends
◦ Biodegradable Polyester
◦ Starch Blends
◦ Bio-PA
◦ PHA
◦ Others
• Global Bioplastics Market, By Application:
◦ Bottles
◦ Other Packaging
◦ Automotive
◦ Consumer Goods
◦ Food
◦ Agriculture
◦ Others

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