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Bio-based Films Market - Opportunities, Challenges & Trends
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Market Overview:
Bio derived products are used to produce bio-based films and thus are bio-degradable. Renewable raw materials are used to prepare bio-based films. For example, by-products from soy oil industry are used to prepare soy-protein based films and marine wastes are used to prepare chitosan and agar films. Proteins used for bio-based films are biodegradable, renewable and easily available. This is the reason why bio-based films are becoming widely popular. The most popular bio-based films are sourced from soy. Apart from soy, zein obtained from corn and keratin obtained from low-value chicken feather are used for the preparation of bio-based films. Bio-based films with these components show good mechanical properties. Pea proteins are also being widely used for manufacturing bio-based films. Bio-based films made from pea proteins can resist UV light transmission because of the presence of amino acids such as phenylalanine, tryptophan, and tyrosine as well as the presence of disulfide bonds in the network.
Market Dynamics:
Increasing focus on packaging films made from bio-based sources such as proteins and polysaccharides has increased the demand for bio-based films. In the food industry, introduction of edible bio-based films has fuelled this demand further. Bio-based films are also finding a lot of application in the medical industry owing to their biocompatibility. Medical applications such as wound management, space filling implants and controlled drug release are making use of bio-based films. Owing to the widespread application in the medical field, Bio-based Films market is estimated to grow in the forecast period. Strict laws regarding the use of semi-synthetic and synthetic bio-based films in food packaging are expected to increase the demand for bio-based films. Semi-synthetic and synthetic films have adverse effects on food when they come in contact with the food so the governments of various countries are urging against the use of such films. Various advantages offered by bio-based films such as easy raw material availability, biocompatibility, and eco-friendly characteristics are having a positive influence on the growth of Bio-based Films market.
One of the major factors that is likely to restrain the Bio-based market is the high cost associated with the products. Bio-based polymers are comparatively costlier than the semi-synthetic and synthetic counterparts of the packaging film industry. For example, the market price of bio-based films ranges from US$ 3/kg to US$ 3.5/Kg and synthetic and semi-synthetic films are available at US$ 1.2/Kg to US$ 2/Kg.
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Proteins extracted from rapeseed are increasingly being used for the production of bio-based films because they have amino acid composition same as soy proteins.
Market Segmentation:
Bio-based Films market is segmented into five types based on product type, raw material, technology, end-user, and region.
Based on product type, Bio-based Films market is segmented into- PBAT films, PLA films, Mulch films, PHB films, Polyamide films, PHA films, PVA films and others.
Based on raw material type, Bio-based Films market is segmented into- Partially bio-based, Bio-based, Synthetic, Semi-synthetic and Microbial synthesized.
Based on technology, Bio-based Films market is segmented into- Multilayer, Sol-gel and Atomic layer deposition (ALD).
Based on end-user, Bio-based Films market is segmented into- Medical & pharmaceutical, Food & beverage, Agriculture, Home & personal care and others.
On the basis of region, Bio-based Films market is segmented into- Latin America, North America, Asia Pacific Except Japan (APEJ), Western Europe, Eastern Europe, Japan and Middle East and Africa (MEA).
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In 2015, North America specifically US Bio-based Films Market showed significant growth trends. The growth in North America region is attributed to the strong demand for food packaging applications. Further, strict regulations in North America regarding food packaging materials is likely to boost the growth of Bio-based Films Market in this region. Increasing demand for bio-based films in medical applications and food packaging industry is fuelling the growth of Bio-based Films market in the Asia Pacific region. Increasing spending capacity of people on food and beverages is further fuelling the demand for Bio-based Films.
Key Players:
Some of the player in the Bio-based Films market include Plastic Union, Mondi Group, Avery Dennison, Taghleef Industries, Toray Plastics, Kuraray, TIPA Sustainable Packaging, Bio Packaging Films, Cosmo Films and BioMass Packaging.
About TMR
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.
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