Global penetration of biodegradable and Bio-based totally Biodegradable Plastics is currently drastically decrease in assessment to conventional fossil fuel-primarily based plastics. Of the three hundred Mn metric tonnes of plastics fed on in 2013, biodegradable plastics accounted for 0.21% of the full consumption. The total intake of Bio-based totally Biodegradable Plastics became 591,000 metric tonnes in 2013, accounting for 0.1% percentage of the whole international plastics intake.
Essien Jae, Lead consultant at FMI said, “intake of bio-based biodegradable plastics is extensively low compared to fossil fuel-based plastics, however this is anticipated to develop unexpectedly over the next five years. With the aid of 2020, the whole revenue of the global bio-based totally biodegradable plastics market is anticipated to grow and 1/2 times as compared to 2014”.
London-primarily based market research and consulting company, future marketplace Insights (FMI), in its modern day record titled “global Bio-based Biodegradable Plastics marketplace evaluation and opportunity evaluation, 2014-2020”, states that the global bio-based totally biodegradable plastics market is predicted to illustrate a double-digit CAGR for the duration of forecast period 2014-2020.
Local Bio-based totally Biodegradable Plastics Markets to illustrate an outstanding CAGR until 2020
Europe leads the worldwide bio-primarily based biodegradable plastics market, accompanied via North the usa. The 2 predominant markets contributed approximately 70% to the global bio-primarily based biodegradable plastics marketplace revenue in 2014. The european bio-primarily based biodegradable plastics marketplace is pretty mature due to early adoption of those substances in comparison to different regions.
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North the united states is the second-biggest market and is anticipated to illustrate robust double-digit growth among 2014 and 2020. However, the Bio-based totally Biodegradable Plastics marketplace in Latin the us is expected to illustrate the highest boom fee at a CAGR of 22.6%, followed via Asia Pacific at a CAGR of 20.7% in phrases of cost. The cumulative market proportion of Latin the us and Asia Pacific is expected to enhance by using around four hundred basis factors with the aid of the quit of the forecast duration.
Japan is every other distinguished market for Bio-based totally Biodegradable Plastics, characterised by way of product innovation via substantial investments into R&D activities. “manufacturers within the Bio-based totally Biodegradable Plastics market in Japan are continuously introducing new products, and creating a trend that is being followed via producers in developed markets which include the U.S., Germany and France. The bio-primarily based biodegradable plastics market in Japan is projected to demonstrate a barely slow growth price in comparison to different APAC international locations throughout the forecast period”, said Essien Jae.
In terms of utility, the packaging area debts for the most important share of the worldwide bio-primarily based biodegradable plastics marketplace and is largely pushed by Europe. Different key application sectors consist of fibres, agriculture and scientific.
On the idea of product type, the marketplace is widely segmented into polyester, starch blends, poly lactic acid (PLA), poly hydroxyalkanoates (PHA) and cellulose. However, other than the abovementioned kinds, there are other product kinds, which have been cumulatively expected to account for round 20% of the overall market price in 2014. Polyester and PLA product types are predicted to dominate the global Bio-based totally Biodegradable Plastics marketplace, as both sorts were cumulatively expected to account for over 60% of the entire market value in 2014.
Similarly extra, the starch-blend segment of the Bio-based totally Biodegradable Plastics marketplace is anticipated to illustrate a slightly sluggish CAGR compared to polyester and PLA at some stage in the forecast length.
Key Segment
On the basis of product type
- polyester
- starch blends
- poly lactic acid (PLA)
- cellulose
- polyhydroxyalkanoate (PHA)
- other biobased biodegradable plastics
On the basis of application
- packaging
- fibers
- healthcare
- agriculture
- others
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Table Of Content
1. Executive Summary
2. Research Methodology & Scope
3. Assumptions & Acronyms Used
4. Market Overview
4.1. Introduction
4.2. Market Segmentation
4.3. Parent Market Indicators
4.3.1. Global Plastic Consumption
4.3.2. Regional Plastic Consumption
5. Global Bio-based totally Biodegradable Plastics Market Overview
5.1. Market Size & Forecast (Value), 2012 – 2020
5.2. Y-o-Y Growth Comparison
5.3. Market Size & Forecast (Volume), 2012 – 2020
5.4. Market Dynamics
5.4.1. Economic Drivers & Relative Impact
5.4.2. Demand Drivers & Relative Impact
5.4.3. Supply Drivers & Relative Impact
5.4.4. Market Trends & Recent Advancements
6. Global Bio-based totally Biodegradable Plastics Market, By Application, 2012 – 2020
to be continued…!
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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