Bioplastics & Biopolymers Market Expected to Inflate at CAGR 16.5% By 2024

Sarasota, FL -- (SBWire) -- 02/08/2019 --Zion Market Research has published a new report titled "Bioplastics & Biopolymers Market by Material Type(Regenerated Cellulose, Bio-polyethylene (Bio-PE), Starch Blends, Bio-Polyethylene Terephthalate (Bio-PET), Biodegradable Polyester, Polyhydroxyalkanoates (PHA), and Polylactic Acid (PLA)) and by Application (Agriculture, Consumer Products, Packaging, Automotive, Bottles, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017–2024". According to the report, the global bioplastics & biopolymers market was valued at approximately USD 6.05 billion in 2017 and is expected to generate revenue of around USD 17.62billion by the end of 2024, growing at a CAGR of around 16.5% between 2018 and 2024.

Bioplastics are obtained from renewable biomass sources, such as corn starch, woodchips, vegetable fats and oils, food waste, and straw, among others. Bioplastics can be made from agricultural by-products as well as from used plastic bottles or other containers using microorganisms. Common plastics are found everywhere, which include fossil-fuel plastics that are also known as petroleum-based polymers. These are normally obtained from natural gas or petroleum. Bioplastics and biopolymers are used widely by the packaging industry. Sustainable packaging is made from bio-based polymers. The bio-based polymers include polylactic Acid(PLA),starch-based polymers, and polyhydroxyalkanoates(PHA). Owing to its biodegradable nature, bioplastics and biopolymers are used in various industries, such as bottling and packaging industries. These factors are expected to drive the global bioplastics & biopolymers market growth in the forecast timeframe.

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In recent years, new types of bioplastics have and advanced polymer materials are likely to a push the growth of the bioplastics & biopolymers market in the future years. Bioplastics comprise a completely a new class of materials. The first polymer materials produced were based on modified natural materials, such as shellac, casein, celluloid, gelatine, linoleum, rubber, and cellophane, among others. Rising concerns regarding environmental safety and green environment have prompted governments of various developed and emerging countries to take safety measures that are expected to upsurge the demand for bioplastics and biopolymers in the years ahead. For instance, stringent regulations set by governments regarding environment resulted in carbon reduction by key manufacturers. It is expected to positively impact the bioplastics & biopolymers market growth over the forecast timeframe. In addition, rising consumer awareness regarding a sustainable environment is expected to further drive the industry growth.

By material type, the bioplastics & biopolymers market is fragmented into regenerated cellulose, bio-polyethylene (Bio-PE), starch blends, bio-polyethylene terephthalate (Bio-PET), biodegradable polyester, polyhydroxyalkanoates (PHA), and Polylactic Acid (PLA). By application, the bioplastics & biopolymers market is segmented into agriculture, consumer products, packaging, automotive, bottles, and others.

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Europe held the major share in the global bioplastics &biopolymers market in 2017 and is expected to continue to grow significantly in the forecast timeframe. This regional growth is attributed to the presence of major industry players in the region that are involved in offering environment-friendly and cost-effective bioplastics and biopolymers. The Asia Pacific is anticipated to provide significant growth opportunities for the bioplastics &biopolymersmarket. The region is the hub for food and beverages and automotive industries, which would enhance the product demand and drive industry growth.

Some key players operating in bioplastics &biopolymers market includeCorbion NV, Arkema, BASF SE, KURARAY, Eastman Chemical Company, Novamont, NatureWorks LLC, Celanese Corporation, Metabolix Holdings, and Braskem S.A., among others.

Global Bioplastics & Biopolymers Market: Regional Segment Analysis

North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa

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