Debasish Nayak, lead analyst, Technavio Research04.30.15
Bioplastic is a biodegradable product, which mainly consists of materials such as vegetable oil, potatoes, rice, tapioca, Pea starch, corn starch, wheat and other grains, sugar cane and cellulose from wood strands. It is also known as organic plastic because it is derived from the sustainable sources.
There are different types of bioplastics: polymers that are directly extracted from biomass and processed; polymers that are made of bio-based precursors (polylactic acid or PLA); and polymers by bacteria (PHA and PHBs). (See the Bioplastic Industry Value Chain, 2014, in the graphic shown above.)
Bioplastics are different from conventional plastics and can be used in the manufacturing of various products such as tools, bags, beds, furniture, carpets, films, bottles, cups, and other packaging materials. Further, they can reduce CO2 emissions by 30-70 percent in comparison with conventional plastics.
See the matrix at left, which shows the various types of plastics product based on the fuel type and decomposition properties.
Market Overview
The Global Bioplastics market will experience significant growth during the period 2013-2018.
One of the reasons for this rapid growth is increasing environmental awareness, to reduce pollution caused by non-biodegradable plastics. The Global Bioplastics market was valued at US$1,300 million in 2013 and it is expected to grow at a CAGR of 22.4 percent during the forecast period.
The growth of the Global Bioplastics market is driven by several factors. The availability of wide variety of feedstock for bioplastics is one of the major factors driving the market. The various renewable sources such as vegetable fat, vegetable oil, microbiota, and pea starch has widened the scope of feedstock for the production of bioplastics. Rising cost of petroleum products is another factor that drives this market.
The Global Bioplastics market also faces certain challenges. The increase in cost of production is one such challenge. Feedstock used for the production of bioplastics are expensive; the installation cost of the plant for bioplastics further increases the cost of production. Low awareness in emerging markets is another major negative factor that affects the growth of the Global Bioplastics market.
Despite these challenges, the Global Bioplastics market is expected to grow rapidly because it is experiencing some new and encouraging trends. One of the major trends observed in the market is the alternative production technology. Market vendors are heavily investing alternative production technology such as use of algae for bioplastic production. Growing environmental concerns is another major trend in the market.
More Info: See the report available from TechNavio Global Bioplastic Market 2014 - 2018
There are different types of bioplastics: polymers that are directly extracted from biomass and processed; polymers that are made of bio-based precursors (polylactic acid or PLA); and polymers by bacteria (PHA and PHBs). (See the Bioplastic Industry Value Chain, 2014, in the graphic shown above.)
Bioplastics are different from conventional plastics and can be used in the manufacturing of various products such as tools, bags, beds, furniture, carpets, films, bottles, cups, and other packaging materials. Further, they can reduce CO2 emissions by 30-70 percent in comparison with conventional plastics.
See the matrix at left, which shows the various types of plastics product based on the fuel type and decomposition properties.
Market Overview
The Global Bioplastics market will experience significant growth during the period 2013-2018.
One of the reasons for this rapid growth is increasing environmental awareness, to reduce pollution caused by non-biodegradable plastics. The Global Bioplastics market was valued at US$1,300 million in 2013 and it is expected to grow at a CAGR of 22.4 percent during the forecast period.
The growth of the Global Bioplastics market is driven by several factors. The availability of wide variety of feedstock for bioplastics is one of the major factors driving the market. The various renewable sources such as vegetable fat, vegetable oil, microbiota, and pea starch has widened the scope of feedstock for the production of bioplastics. Rising cost of petroleum products is another factor that drives this market.
The Global Bioplastics market also faces certain challenges. The increase in cost of production is one such challenge. Feedstock used for the production of bioplastics are expensive; the installation cost of the plant for bioplastics further increases the cost of production. Low awareness in emerging markets is another major negative factor that affects the growth of the Global Bioplastics market.
Despite these challenges, the Global Bioplastics market is expected to grow rapidly because it is experiencing some new and encouraging trends. One of the major trends observed in the market is the alternative production technology. Market vendors are heavily investing alternative production technology such as use of algae for bioplastic production. Growing environmental concerns is another major trend in the market.
More Info: See the report available from TechNavio Global Bioplastic Market 2014 - 2018