The report "Bioplastics & Biopolymers Market by Type (Bio-PE, Bio-PET, PLA, Starch Blends, Biodegradable Polyesters, Regenerated Cellulose and PHA), Application (Packaging, Bottles, Agriculture), and by Region - Trends & Forecast to 2021", The global bioplastics & biopolymers market is projected to witness a CAGR of 12.0% from 2016 to reach a market size of USD 5.08 Billion by 2021. This growth is mainly driven by implementation of strict environment regulations to reduce carbon content and fluctuating fuel prices which is compelling manufacturers to use a stable source of raw material.
2. Bioplastics & Biopolymers Market by Type (Bio-PE, Bio-PET, PLA,
Starch Blends, Biodegradable Polyesters, Regenerated Cellulose
and PHA), Application (Packaging, Bottles, Agriculture), and by
Region - Trends & Forecast to 2021
The global bioplastics & biopolymers market is projected to
witness a CAGR of 12.0% from 2016 to reach a market size of USD
5.08 Billion by 2021.
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240
3. Bio-PET projected to dominate the market during forecast
period
Bio-PET is projected to remain the dominant bioplastics
during the forecast period. The major reason of Bio-PET
domination is the comparable physical properties to
petroleum based PET, that makes it suitable for all
applications, without making much technological changes.
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4. Packaging segment projected to witness highest CAGR in the market during the forecast
period
The bioplastics & biopolymers market in the packaging industry is projected to witness the
highest CAGR between 2016 and 2021. The rising awareness of consumers about
sustainable environment and improved lifestyle, which is driving consumers to purchase
high quality products, is expected to influence the demand for bioplastics & biopolymers
during the forecast period. R&D departments of manufacturers are doing research to
widen the application area of bioplastics, which will drive the growth of the bioplastics &
biopolymers market.
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5. Europe projected to witness highest CAGR between 2016 and 2021
The bioplastics & biopolymers market in Europe possesses immense potential of growth
during the forecast period. Europe has maximum focus on the issue of sustainable
packaging. Increased political awareness in Europe about environmental issues has
resulted in the formulation of laws and regulations that have influenced all industries in
the region to use bio-based raw material that causes less harm to the environment. This is
expected to lead to high growth of the market in this region. Manufacturer’s concern for
stable sources of raw materials in the region is also expected to trigger the market growth
in the region between 2016 and 2021. Germany, Italy, and France are some of the key
countries in the region contributing significantly towards the growth of the market in
Europe.
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6. Key Player :
Some of the key participants in the market are BASF SE (Germany), Braskem
S.A. (Brazil), Corbion NV (Netherlands), Meredian Holdings Group Inc. (U.S.),
NatureWorks LLC (U.S.), and others. New product developments, partnership,
and agreements & collaborations were the major growth strategies adopted
by the market players between 2012 and 2016 to enhance their regional
footprint and meet the growing demand of bioplastics & biopolymers in
developing economies.
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7. Contact:
Mr. Rohan
Markets and Markets
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Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
1-888-600-6441
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