“Bio plastics Market report provides the latest market data along with industry future trends, which keeps tracking of users driving revenue growth rate of Bio plastics Market by materials (Bio-PE, Bio- PA, biodegradable polyesters, starch blends, PHA), by applications (food services, horticulture, consumer products) market status and outlook of global and major regions, from manufacturers, and end industries. As this report is expected to help key players among the Bio plastics Market it includes the five years Industry analysis and the 6 years annual forecast from 2017 to 2023. Some of the prominent participants in the Global Bio plastics Market are Evonik Industries, Biome Technologies Plc, Techno Polymer Co. Ltd, Natureworks LLC, BASF SE, FKuRKunststoff GmbH, Innovia Films, Novamont SPA, Cardia Bio plastics, Metabolix Inc”. According to the report the Global Bio plastics Market is projected to grow at a CAGR of 28% in terms of value over the period of 2017-2023. The growth in the world market is primarily driven by significant contribution by North America (Leading region) region to this market.
The Use of Bioplastics Reduces the Consumption of Petroleum Feedstock’s
The global bio plastics market is likely to be driven by factors such as increasing prices of raw materials for petro based plastics, bio plastics are eco-friendly, support of government bodies and institutions, however the growth in the market is likely to be hampered by over-dependence on agriculture sources such as vegetable oils and fats and starches. The production of these raw materials is inconsistent due to frequently changing climate conditions.
Asia Pacific Region Is the Largest Consumer of Bio Plastics Globally Followed By North America and Europe
The global bio plastics market covers analysis of regions such as North America, Europe, Asia-Pacific inclusive of Australia and RoW (including Latin America, Middle East and Africa). Among the geographies Asia-Pacific is the largest market followed by Europe, North America is anticipated to grow at the highest CAGR over the forecast period.
Segments Covered in this Premium Report:
The global bio plastics market is segmented on the basis of materials and by applications type. The materials include Bio-PET, Bio-PE, Bio- PA, biodegradable polyesters, PLA & PLA blends, starch blends, PHA and others, while the application types include bottles, food services, agriculture & horticulture, consumer products, automotive and others. Presently, the global bio plastics market is dominated by its applications in bottling followed by other packaging applications.
The companies covered in report include Evonik Industries, Biome Technologies Plc, Techno Polymer Co. Ltd, Natureworks LLC, BASF SE, FKuRKunststoff GmbH, Innovia Films, Novamont SPA, Cardia Bio plastics, Metabolix Inc.
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