Bioplastics Market Overview, Merger and Acquisitions , Drivers, Restraints and Industry Forecast By 2027

Increasing demand for bioplastics in the packaging sector is one of the significant factors influencing the market growth.

VANCOUVER, BC, CANADA, February 21, 2022 /EINPresswire.com/ -- Increasing demand for bioplastics in the packaging sector is one of the significant factors influencing the market growth.

Market Size – USD 8,231.8 Million in 2019, Market Growth - CAGR of 14.9%, Market Trends –Surging demand for bioplastics in additive manufacturing

The global bioplastics market is projected to be worth USD 25.27 Billion by 2027, according to a current analysis by Emergen Research. The bioplastics market is experiencing rapid growth attributed to its increasing demand in end-use applications, such as packaging, textile, automotive & transportation, consumer goods, agriculture, and building & construction. Besides, supportive government initiatives and offering subsidies to promote the growth of bioplastics are driving the market's growth. In 2018, the Japanese Ministry of Environment made an announcement for the inclusion of USD 45.0 million/JPY 5.0 Billion in the FY2019 budget for developing products manufactured from bio-plastics and provide subsidies to firms that make paper substitutes to plastic.

The growing emphasis on waste management and sustainability is a significant factor driving the growth of the market. Waste management is a primary challenge prevalent across the globe. Efforts are being made to promote bioplastics' use, providing opportunities in urban waste (UW) as a new raw material source aimed towards environmental-sustainability and generation of biofuels. A few benefits of bioplastics comprise reduced carbon footprint, reduced consumption of non-renewable sources, savings in energy during production, decrease in non-biodegradable waste responsible for environmental pollution, and absence of any chemical that may pose a health hazard and hence are suitable for food packaging by keeping the flavor and smell intact.

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Key Highlights From The Report

In February 2018, Teijin Ltd. made an announcement about the development of a formable film, which is resistant to gasoline and produced from PLA NEXT^® bioplastic to substitute chrome plating, adopted by Honda Lock Mfg. Co., Ltd. for use in the nonconductive door handles having smart-entry systems.

Non-biodegradable bioplastics contributed to a larger market share of around 60.0% in 2019, owing to its widespread usage attributed to its low cost, durability, and versatility. Polylactic acid (PLA) is the most widely used non-biodegradable bioplastic.

Polyethylene Furanoate (PEF), a biodegradable bioplastic, is currently under development and is estimated to be commercially available by 2023.
Key participants include BASF SE, NatureWorks, Biome Plastics, Braskem, Biotec, Total Corbion, Plantic Technologies, Mitsubishi Chemical Holdings Corporation, Novamont SPA, and Toray Industries, among others.

Emergen Research has segmented the global bioplastics market on the basis of type, distribution channel, application, and region:

Type Outlook (Revenue, USD Billion; 2017-2027)
Biodegradable
Polybutylene Adipate Terephthalate (PBAT)
Polybutylene Succinate (PBS)
Polylactic Acid (PLA)
Polyhydroxyalkanoate (PHA)
Starch Blends
Others
Non-Biodegradable
Polyethylene (PE)
Polyamide (PA)
Polyethylene Terephthalate (PET)
Polytrimethylene Terephthalate (PTT)
Polypropylene (PP)
Others

Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
Online
Offline
Application Outlook (Revenue, USD Billion; 2017-2027)
Packaging
Textile
Automotive & Transportation
Consumer Goods
Agriculture
Building & Construction
Others

Regional Outlook (Revenue, USD Billion; 2017-2027)
North America
S.
Canada
Mexico
Europe
Germany
UK
France
BENELUX
Rest of Europe
Asia Pacific
China
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
MEA
Saudi Arabia
UAE
Rest of MEA

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Key questions addressed in the report:

What are the key factors driving the global bioplastics market?
Who are the key manufacturers in this market space?
Who are the distributors, traders and dealers of this market?
What are the market opportunities and risks affecting the performance of the vendors in the global bioplastics market?
What are the sales and revenue estimations for the top manufacturers in this market over the projected timeline?
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