Bioplastics are those plastic materials that are manufactured by using natural resources. There are two categories of these plastics available in the market — biodegrable bioplastics and non-biodegradable bioplastics. The report covers both the categories for market study.
On the basis of material type, the report covers market analysis of bio-based polyethylene terephthalate (Bio-PET), bio-based polyethylene (Bio-PE), bio-based polyamides (Bio-PA), bio-based poly lactic acid and its blends, starch blends and polyhydroxyalkanoate. Applications of bioplastics covered in the report includes bottle manufacturing, other packaging, food service disposables, agriculture/horticulture, consumer products and automotive applications.
The global bioplastics market is projected to grow approximately six times its value from US$ 7.5 billion in 2013 to US$ 43.8 billion in 2020 at an estimated CAGR of 28.8% between 2014 and 2020.
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Global Bioplastics Market: Drivers and Trends
Demand for bioplastics is increasing since past decade due to growing awareness concerning environmental conservation, use of bio-based or natural resources for manufacturing materials and formulation of various regulations across countries for effective use of natural resources and waste management.