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The global bioplastics market is predicted to grow at a CAGR of 18.80% during the period spanning 2020-2024. The market is expected to be valued at US$67.03 billion in 2024. Growth in the bioplastics market was supported by various factors like increasing biodegradable food packaging market, growing corn starch market, rising demand for consumer electronics and waste management benefits of bioplastics. The market also faced certain challenges such as fluctuating crude oil prices and increased consumer misunderstanding about bioplastic disposal behavior. The global bioplastic market is also predicted to experience certain trends like increasing carbon footprint from plastic and rising automotive production that are likely to boost the market in future years.
The global bioplastic market by type can be segmented as follows: biodegradable and non-biodegradable. In 2019, the dominant share of the market was held by non-biodegradable segment. The global biodegradable plastic market by application can be segmented into the following eight categories: flexible packaging, rigid packaging, agriculture or horticulture, coatings & adhesives, consumer goods, textiles, building & construction and automotive & transport. The dominant share of the market was held by flexible packaging segment.
The global bioplastics market by region can be segmented as follows: Europe, Asia Pacific and North America. The highest share of the market was obtained by Europe in 2019. The global biodegradable plastics market by region can be segmented into the following regions: Europe, Asia Pacific, North America and LAMEA, with Europe holding the dominant share.
Scope of the report:
• The report provides a comprehensive analysis of the global bioplastic industry with focus on global biodegradable plastic market.
• The major regional markets (Asia Pacific, Europe, North America and LAMEA, along with the US) have been analyzed.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players (Corbion, BASF SE, Mitsubishi Chemical Holdings, Biome Technologies, Solvay and Arkema) are also presented in detail.
Key Target Audience:
• Bioplastics Manufacturers
• Supply Chain Partners
• End Users (Businesses/ Consumers)
• Consulting Firms
• Investment Banks
• Government Bodies & Regulating Authorities