Global Synthetic and Bio-Based Biodegradable Plastics Market to be worth US$7.8 Billion by the year 2018
This market research report has explained that the global synthetic and bio-based biodegradable plastics is fueled by rising demand for environment friendly materials from various industries like packaging, electronics, agriculture, automotive, and transportation. The packaging industry is witnessing a shift of focus towards green and eco-friendly packaging, which is driven by greater consumer awareness about green products and their subsequent benefits. Hence, much of the demand in the bio-based biodegradable plastics market comes from the packaging industry. Materials that get decomposed naturally by microorganisms are known as biodegradable materials.
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According to this research report, the global synthetic and bio-based biodegradable plastics market involves biodegradable plastics which include a range of products which can be biodegradable, bio-based, and sometimes even both. Biodegradable plastics are very different from non-biodegradable plastics in terms of applications, inputs used, and the type of processing technology used. The two main factors that distinguish biodegradable plastics from the traditional plastics are availability, and renewability. The global synthetic and bio-based biodegradable plastics market is also driven by other factors like the widespread acceptance of biodegradable products by consumers, and ample supply of cheap feedstock.
This TMR report has discussed the key trends prevailing in the global synthetic and bio-based biodegradable plastics market which is on the path of expansion via acquisitions, alliances, and joint ventures. The main market participants in the synthetic and bio-based biodegradable plastics market are expanding their businesses through these aforementioned business ventures. This trend is promoting rapid growth of this market due to the prevalence of competitive advantage. This market is also moving towards sustainable development due to greater consumer awareness about waste minimization, and greater government support being received by green packaging companies.
The report has segmented the global synthetic and bio-based biodegradable plastics market into two product categories which are synthetic biodegradable plastics, and bio-based biodegradable plastics. This market is expected to witness rising demand in the forthcoming years due to favorable regulatory implementation of widespread use of green products, eco friendly packaging, and greater consumer preference for environment friendly products. The main problem facing the global synthetic and bio-based biodegradable plastics market is the absence of sophisticated technology.
Some of the prominent market players covered in this report are Vegeplast SAS, Cereplast Inc, Natureworks LLC, Mitsubishi Chemical Corporation, Novamont SPA, Biome Technologies PLC, Futerro SA, and BIOP Biopolymer Technologies AG.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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