According to QYResearch latest research, the global Bioplastics and Biopolymers size is estimated to be USD 3473 in 2020 from USD 3445 million in 2019, with a change 0.81% between 2019 and 2020. The global Bioplastics and Biopolymers market size is expected to grow at 6.98% or more annually for the next six years.
Biopolymers/bioplastics is a material for which at least a portion of polymer consists of material produced from biomaterials. It represent a new generation of plastics that reduces the impact on the environment, both in terms of energy consumption and the amount of greenhouse gas emissions.
Global Bioplastics and Biopolymers Market- Driver Analysis
The current market climate exhibits a degree of environmental awareness of plastic consumers. This could cause a shift towards alternatives. While plastics would still continue to dominate the market, there is a window of opportunity for alternative materials that are perceived as more eco-friendly. Bioplastics are one such commodity, and constitute a niche market.
Europe remains the largest producer and consumer of Bioplastics and Biopolymers. Legislation is a key market driver and includes plastic bag bans in Italy and France, a packaging waste directive with recovery and recycling targets, and other collection and waste disposal laws that aim to avoid landfill. Western European landfill disposal costs (landfill gate fees plus landfill taxes) are substantially higher than those in Central and Eastern Europe and North America, and compost infrastructure is comparatively well developed. Consumer awareness of sustainable plastic solutions and government interest in the reduction of greenhouse gas emissions and fossil fuel independence also contribute to market growth.
Global Bioplastics and Biopolymers Market- Key Players
NatureWorks, Braskem , Arkema , Novamont, BASF , Kingfa , DuPont, Mitsubishi, PSM, Zhejiang Hisun Biomaterials, FKuR, Corbion Total, Grabio, Danimer Scientific, Biome Bioplastics, are some of the key players, functioning in the global Bioplastics and Biopolymers market. The industry is relatively concentrated. The top 3 players are NatureWorks, Braskem, Novamont, which accounted for 32.53% share in 2019.
Global Bioplastics and Biopolymers Market: Segmental Analysis
Starch Blends, PLA, Bio-PE, PBAT, Bio-PET are the several key bioplastics in the market. Starch Blends is the largest segment and account for more than 27% market share globally, followed by PLA with 18% share. Nowadays, chemical modifications are commonly applied to modify starch properties. However, industry calls for alternatives for chemically modified starches to address the consumer’s demand for natural food systems. A simple way to impact starch properties is by blending different starches. In some blends, interactions lead to unexpected gelatinization, pasting, gel texture, and retrogradation properties (non-additive effect), while an additive effect occurs when the behavior of the blend corresponds to what can be expected based on the individual components.
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