Global Bioplastics and Biopolymers Market – Emergence of Bio-based and Renewable Raw Materials to Boost Growth | Technavio

LONDON–(BUSINESS WIRE)–#Plastics—Technavio
market research analysts forecast the global
bioplastics and biopolymers market to grow at a CAGR of nearly 13%
during the period 2018-2022, according to their latest report.

This market research report segments the global bioplastics and
biopolymers market into the following end-users (packaging and consumer
goods), types (bio-PE, bio-PET, PLA, and biodegradable starch blends),
and key regions (the Americas, APAC, and EMEA). It provides an in-depth
analysis of the prominent factors influencing the market, including
drivers, opportunities, trends, and industry-specific challenges.

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In this report, Technavio analysts highlight the emergence of bio-based
and renewable raw materials as a key factor contributing to the growth
of the global bioplastics
and biopolymers market:

Emergence of bio-based and renewable raw
materials

The global biopolymers market is anticipated to amass benefits from the
use of bio-based raw materials such as starch and vegetable crop
derivatives. The dependence on petroleum-based plastics is slowly
decreasing with the increased use of bioplastics in numerous
applications such as packaging and domestic goods. But, these sources
are expected to get exhausted in the next 30 to 40 years. Although new
bio-based products, which reduce greenhouse gas (GHG) emissions are
preferred, the process and product are required to be time and
cost-effective.

A key challenge faced by the petroleum-dependent industries is the
volatile prices that can be overcome by the establishment of
well-developed, self-sufficient, and state-of-the-art integrated
bio-refineries. The effective use of biomass such as grass, trees,
plants, and other organic materials such as animal meat and other
tissues, which decompose by the activities of microorganisms will help
in building a bio-based economy. This has led to the shift in the
preference of plastic manufacturers toward the production of biopolymers
based on renewable sources.

According to a senior analyst at Technavio for plastics,
polymers, and elastomers, “The raw materials used in the
production of biopolymers are renewable in origin and are available in
abundance across the globe when compared with petroleum and fossil-based
raw materials. Thus, the global outlook for bio-based raw materials for
polymers is significantly more positive than that of petroleum-based raw
materials.”

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Global bioplastics and biopolymers market
segmentation

Of the two major end-users, the packaging segment held the largest
market share in 2017, accounting for nearly 49% of the market. This
segment is anticipated to witness steady growth during the forecast
period.

EMEA was the leading region for the global bioplastics
and biopolymers market in 2017, accounting for a market share of
more than 38%. This region is anticipated to dominate the market through
the forecast period.

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