According to recent research, bio-plastic product increased market share from 1% to around 10% of global plastic consumption, representing 20 million tons per annum. There is an exceptional demand for bio-plastic in packaging and it is expected to reach 885000 tons in medium term.
What is Bio-Plastic?
As a name suggested bio-plastic is a bio degradable plastic. Bio-plastic is a plastic made from a renewable sources such as plant and animal source, unlike conventional plastics which are made from petroleum. Currently most of the bio-plastics are made from plant based raw material such as sugar cane, corns and so on.
Market Research and Market Trends of Bio-Plastics market.
- UK government is looking forward to manufacture Bio-plastic as bio-plastic generating jobs and revenue as well as tackling the global plastic waste problem.
- Most of the companies are looking forward to manufacture bio-plastic as bio-plastic have a potential to replace many materials like metal in automotive.
- The demand for premium packaging, for a consumer products such as cosmetics and other household items, is increasing in developed and mature markets such as the US
Who are the Major Players in Bio-Plastics Market?
The companies referred in the market research report are Biome Nio-plastics, Biofase, Corbion, and 10 other companies.
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.
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Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
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- Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.