Bioplastics Market Challenges, Key Companies Share, Industry Growth, Trend, Drivers by 2027

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 current COVID-19 pandemic is expected to have an effect on the growth of the bioplastics industry majorly attributable to the movement restrictions and impact on the supply and demand due to the lockdowns. The COVID-19 pandemic has affected several sectors of the global market, and the bioplastics sector is expected to feel the impact of the pandemic. The economic slowdown and dynamic changes in the demands will further affect the growth of the industry. The report covers the impact analysis of the COVID-19 pandemic on the overall bioplastics industry.

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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.

Competitive Landscape:

Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.

Key Companies Profiled in the Report:

BASF SE, NatureWorks, Biome Plastics, Braskem, Biotec, Total Corbion, Plantic Technologies, Mitsubishi Chemical Holdings Corporation, Novamont SPA, and Toray Industries, among others.

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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 Segmentation;

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Market Dynamics:

The report offers insightful information about the market dynamics of the bioplastics market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the bioplastics market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the bioplastics market.

Radical Highlights of the bioplastics Market Report:

Comprehensive overview of the bioplastics market along with analysis of the changing dynamics of the market

Growth Assessment of various market segments throughout the forecast period

Regional and global analysis of the market players, including their market share and global position

Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market

Impact of the technological developments and R&D advancements on the bioplastics market

Information about profit-making strategies and developmental strategies of major companies and manufacturers

Insightful information for the new entrants willing to enter the market

Details and insights about business expansion strategies, product launches, and other collaborations

The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis

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Thank you for reading the report. The report can be customized as per the requirements of the clients. For further information or query about customization, please reach out to us, and we will offer you the report best suited for your needs.

Read similar reports by Emergen Research:

Yoga Mat Market @ https://www.emergenresearch.com/industry-report/yoga-mat-market

Graphene Market https @ https://www.emergenresearch.com/industry-report/graphene-market

3D Printing Plastic Market @ https://www.emergenresearch.com/industry-report/3d-printing-plastic-market

Polylactic Acid Market @ https://www.emergenresearch.com/industry-report/polylactic-acid-market

Insulation Materials Market @ https://www.emergenresearch.com/industry-report/insulation-materials-market

About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

 

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