Bioplastics Market size Witness Comprehensive Growth by 2023

The global bioplastics market should reach 2.7 million metric tons by 2023 from 1.6 million metric tons in 2018 at a compound annual growth rate (CAGR) of 11.7% for the period 2018-2023.

Report Scope:

The focus of this report is on plastics made from renewable resources such as biomass or food crops. There is also some potential development of bioplastics from animal resources. Plastics that could be produced from waste CO2 are also reviewed because of their potential impact on bioplastics, but their data are not included in the forecasts presented here. Bioplastics are further defined here as polymer materials that are produced by chemically or biologically synthesizing materials that contain renewable organic materials. Natural organic materials that are not chemically modified (e.g., wood composites are excluded). The report includes the use of renewable resources to create monomers that replace petroleum-based monomers such as feedstocks produced from sugarcane that are used to manufacture polyester and polyethylene. Ethanol, a major product in Brazil, is one small chemical step from ethylene.

Request for Report Sample: https://www.trendsmarketresearch.com/report/sample/11568

The report focuses on the following resin chemistries –
– Polylactic acid.
– Thermoplastic starch.
– Biopolyamides (nylons).
– Polyhydroxyalkanoates.
– Biopolyols/polyurethane.
– Cellulosics.
– Biopolytrimethylene terephthalate.
– Biopolyethylene.
– Biopolyethylene terephthalate.
– Polybutylene succinate.

Biodegradable and photodegradable polymers made from petrochemical feedstocks are not included. Other renewable resin chemistries such as collagen and chitosan are covered but in less detail as their roles are not well developed.

Estimated values used are based on manufacturers’ total revenues. Projected and forecasted revenue values are in constant US dollars (2017) unadjusted for inflation.

Report Includes:

– 40 data tables and 16 additional tables
– An overview of the global market for bioplastics
– Analyses of global market trends, with data from 2016 to 2018, and projections of CAGRs through 2023
– Identification of trends that will affect the use of bioplastics and their major end-use application
– Information on specific end markets for bioplastics by material types, with sections devoted to each type of renewably sourced plastic
– Analyses of market developments regarding major applications for bioplastics, including packaging, automotive, electrical/electronic, medical, building and construction
– Comprehensive company profiles of major players in the market including Arkema, BASF, Dow Plastics, Huhtamaki, Myriant, Plantic Technologies Ltd., Synbra Technology and ZeaChem Inc.The global bioplastics market should reach 2.7 million metric tons by 2023 from 1.6 million metric tons in 2018 at a compound annual growth rate (CAGR) of 11.7% for the period 2018-2023.

Summary

Support from global conglomerates such as Coca-Cola, Pepsi, H.J. Heinz, Ford, AT&T and Toyota is putting real wind in the sails of the renewably sourced plastics industry. At the same time, governments around the world are looking for ways to reduce their CO2 emissions and dependence on oil-based products and bioplastics are increasingly being viewed as one way to accomplish these goals.

Make an Inquiry before Buying: https://www.trendsmarketresearch.com/checkout/11568/Single

Rising demand results in growing supply and the Chinese government’s increasing support for bioplastics as a way to improve the standard of living in the country’s rural regions is just one example of this. Major indigenous producers of starch plastics and other types of bioplastics are rapidly changing marketplace dynamics. Municipal governments in central, eastern and southern China are planning for strong growth in all sectors of this industry and developing countries such as Thailand and Brazil are also emerging as bioplastic-producing powerhouses.

But along with returns come risks and there are many potential setbacks that could slow down the global bioplastics market including –
– Delays in the implementation of bioplastics regulation in Europe.
– Limited demand in several important regional markets such as the U.S.
– Shifting demands for various types of materials. For example, plans to increase production capacity for bio-based PET have not been realized at the rate predicted because the packaging industry may shift to other bioplastics such as polyethylene furanoate (PEF), a new 100% biobased polymer comparable to PET that is poised to enter the market by 2020.

As a result of setbacks and other negative factors, some bioplastic companies have recorded losses or have even shut down over the past few years. Many governments have also lowered ambitious targets for the industry. Nanle county’s government, for example, reduced a target that seemed difficult to achieve. Early in 2014, this county, located in China’s Henan province, had set up an industrial chain based on polylactic acid (PLA) with a capacity of REDACTED of PLA fibers and REDACTED of PLA films, but plans to increase capacity to REDACTED of PLA by 2020 were dropped. Based oncurrent production numbers, Nanle is expected to achieve capacity of only REDACTED of PLA resin by 2020.

In this report, the five-year CAGRs are much lower than in the previous edition due to significant delays in the implementation of bioplastics regulations as well as limited demand in Europe and North America. Driving forces, however, such as the shortage of petrochemical resources and rising environmental concerns, still remain and new entrants continue to flood the market looking for new opportunities. Large bioplastics production lines postponed in 2014 and 2015 were launched in 2016 and 2017 or will be completed in 2018 and 2019. The market is projected at double-digit CAGRs, much higher than most other plastic products.

Request for Report Discount: https://www.trendsmarketresearch.com/report/discount/11568