Market Research Future Published a Half Cooked Research “Global Bio Plastic Market Research Report- Forecast to 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2022.
The major players operating in the Global Bio Plastic Market are Novamont SPA, Metabolix Inc., BASF SE, Natureworks LLC, Corbion, Cardia Bioplastics, Biome Technologies PLC, Toray Industries Inc., Evonik Industries, E.I. du Pont de Nemours, and Company. Others include BioApply Polymers, NatureWorks LLC, BioSphere Plastic, Dow Plastics, Cereplast, Solvay SA, Techno-Polymer Company Limited, and RTP Company. Others are some of the prominent players at the forefront of competition in the Global Bio Plastic Market and are profiled in MRFR Analysis.
Bio Plastic Market– Market Overview
Bio Plastics are a type of plastic derived from renewable biomass sources such as corn, starch, micro biota, and vegetable fats and oils. Bio Plastics can also be produced from the agricultural by- products and also from containers, and plastic bottles with the help of microorganisms. Unlike bio plastics common plastic are derived from fossil fuels which is a nonrenewable source and are also harmful for the environment due to the high emissions of greenhouse gases. Bio plastics are mainly derived from sugar derivative sources such as starch, lactic acid, cellulose among others. They have many application in industries such as packaging, bottle manufacturing, automobiles, textiles, building and construction, electronics among others.
According to the analysis of MRFR, the major market forces and trends driving growth of the Global Bio Plastic Market includes growing environmental awareness amongst the population and increasing use of bio plastics in various industries such as packaging, automobiles, building and construction, amongst others. Moreover, the inclination to shift towards renewable products owing to its low emission coupled with the depletion of fossil fuels are another factor contributing to the market growth. Furthermore, the developing countries for the strive to become energy sufficient are shifting towards the use of renewables for the production process. The stringent government regulation for the green house emission coupled with the encouragement to adapt environment friendly products is also expected to surge the market growth in the forecast years.
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Bio Plastic Market- Competitive Landscape
The Global Bio Plastic Market is a highly lucrative market driven by flourishing advances and demand from the packaging industry along with the increasing application in the bottle manufacturing and automotive industry among others. Novamont SPA, Metabolix Inc., BASF SE, Natureworks LLC, Corbion Purac, Cardia Bioplastics, among others are some of the prominent players operating in the market. Most of these market participants are adopting the innovation and product launch tactics to strengthen their production capacities and market position. Taking account of these trends, the global Bio Plastic market is projected to witness considerable competition over the forecast period of 2017-2022.
Asia pacific followed by Europe and North America are the dominant regions in the market of bio plastic during the forecast period. Asia pacific is the fastest growing market and is expected to show the same trend during the forecast years. The growing urbanization and industrialization in the developing economies of the region mainly China and India has propelled the growth of various end use industries such as packaging, automotive, automobile and other manufacturing industries which in turn is substantially adding to the growth of the market. Moreover, the need for energy sufficiency to cater the growing population coupled with the development in technology are other contributing factors to the market. Europe and North America are dominant regions for the market of Bio Plastic. The stringent government regulation for the reduction of greenhouse emission coupled with the increasing adoption of environment friendly methods are the major factor for the positive growth of the market.
Industry/ Innovation/ Related News:
April 11, 2016– The LEGO group joined the bio plastic feedstock (BFA) alliance journey for of motive of achieving their target using sustainable packaging materials for their core products by 2030. The BFA will provide full support to the LEGO group to work and reduce the carbon footprint and achieve their target by the desired year.
September 18, 2017– Lactips a French startup of biodegradable thermoplastics, has won the funding of 1.5 million euros from the European Union’s H2020 SME to continue its research and development on producing bio based plastic from milk protein.
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