The biopolymers market growing at a compound annual growth rate of 14.5% is expected to generate global revenue of 3,668.6 million US dollars by 2018. It’s what emerges from the new Report on “Biopolymers/Bioplastics Market by Type (Bio PET, Bio PE, PLA, PHA, Bio PBS, Starch Blends, and Regenerated Cellulose), by Application (Packaging, Bottles, Fibers, Agriculture, Automotive, and Others) & by Geography – Trends & Forecasts to 2018” published by Research and Markets, the Irish company which is the leading source for international market research and market data.
Biopolymers have found wide acceptance in various industries, on account of its distinguished environment friendly properties. On the basis of application areas, the market of biopolymers can be broadly segmented into packaging, bottles, fibers, agriculture, automotive, and others. Though packaging and bottles are the major biopolymers applications and serve an array of industries due to their various properties and performance advantages. Among major biopolymers, PHA is an emerging market and its demand is growing at good pace.
According to the report, North America is the biggest market for biopolymers, consuming more than one-third of the total global demand. There is a lot of scope in the Asia-Pacific market due to strong and increasing manufacturing and industrial base, which are the major end consumers of biopolymers. Additionally, increasing need in Europe for high performance material for fibers and injection molding is pushing the demand for PLA at a considerable pace. With the emerging technological developments and innovations in Europe, the demand growth for biopolymers may further augment at a high pace.
Bottles manufacturing with a compound annual growth rate of 24.7% is the fastest growing industry consumer of biopolymers owing to the distinguishing properties of the materials; whereas, the leading consumer of biopolymers remain the packaging industry Currently, the penetration of biopolymers is increasing in packaging, bottles, and automotive at a very high pace around the globe. The key drivers for increasing demand of biopolymers in all the sectors are biodegradability of these materials, and positive attitude of government towards green procurement policies. On the other hand, increasing scope in end user segment and under penetration in Asian countries are the major upcoming opportunities in the market, and technological developments, and innovations are identified as key strategies to capitalize on these opportunities.
The countries covered in the report are China, Japan, U.S., Italy, Germany, and France. The segmentation by type includes bio-PET, bio-PE, PLA, PHA, bio-PBS, starch blends, and regenerated cellulose; while on the basis of its application the segmentation includes packaging, bottles, fibers, agriculture, automotive, injection molding and others.
Further as a part of qualitative analysis, the research provides report with a comprehensive review of major market drivers, restraints, opportunities, winning imperatives, and key issues in the market. It also includes the company profiling and competitive strategies adopted by various market players including Cereplast, NatureWorks, Meredian, Metabolix (U.S), Braskem (Brazil), Indorama ventures Public Co. Ltd (Thailand), Novamont and Bio-On (Italy)