Global Bioplastics Market is expected to grow at a CAGR of 17.5% during 2015-2020

Global Bioplastic Industry analysis by 2020 analyzed the world’s main region market size, share, trends, conditions, including the product price, profit, capacity, production, capacity utilization, supply, demand and industry growth rate etc.

Bioplastics are the family of plastics derived from the renewable feedstocks such as corn, sugarcane and cellulose. Eco-friendly nature, availability of renewable feedstocks and favourable government policies were the prime reasons for manufacturers to shift towards bio-based plastics. In 2014, the market for bio-plastics stood at 4,869.2 kilo tons and is expected to grow at a CAGR of 17.5% during 2015-2020. Increasing adoption of biodegradable products and increasing popularity in the end user industries are the key factors driving the growth of bio-plastics market. However, its high production cost may hamper the market growth to a certain extent.

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Bioplastics are consumed across wide range of industries such as rigid packaging, flexible packaging, textiles, consumer goods, agriculture, construction, electrical & electronics and similar others. In 2014, the consumption of bioplastics in rigid packaging was highest and is expected to retain its lead through 2020. Bioplastics possesses properties such as gloss, barrier effect, antistatic behavior and printability among others, which makes it suitable for rigid packaging application. Furthermore, packaging industries have substantial curiosity for the biodegradability as packaging is needed for short period but in enormous quantity, results in the accumulation of waste. Therefore, packaging industry consumes bioplastics to decrease or recycle the accumulated waste products.

Bioplastics market has been segmented by type as biodegradable and non-biodegradable bioplastics. Furthermore, biodegradable is segmented into PLA, PHA, Polyesters, Starch blends and others (cellulose esters & others) and non-biodegradable is segmented into Bio-PA, Bio-PE, Bio-PET and others (Bio-PTT, Bio-PUR and epoxies). In 2014, the consumption of non-biodegradable bioplastics was highest owing to its properties similar to that of traditional plastics despite of being bio-based.

Geographically, the market has been segmented into North America, Europe, and Asia Pacific & LAMEA. In 2014, Europe was highest revenue generating segment. European policy-makers support to the European bioplastics manufactures and increasing adoption in the Germany, Italy and United Kingdom are the key factors responsible for the growth of bioplastics market in Europe. However, Asia Pacific will be the fastest growing market and is expected to grow at a CAGR of 19.6% during 2015-2020 attributable to the lions share investments made by the global giants in the region due to availability of huge renewable feedstock.

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Competitive Intelligence on few prominent manufacturers of bioplastics provide key insights in terms of strategies implemented to gain significant share in the bioplastics market. Year 2012 and 2013 had played a significant role in setting up a strong base for the market expansion as most of the strategies were formulated during these periods. For smoothening the operation and retaining their competitiveness in the global market, the top players are adopting some key developmental strategies including partnership, expansion, collaboration, joint venture, merger and product launch. Some of the leading manufacturers profiled in this report includes Novamont SPA, Metabolix Inc., BASF SE, Natureworks LLC, Corbion Purac, Braskem, Cardia Bioplastics, Biome Technologies Plc, FKuR Kunststoff GmbH and Innovia Films.

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