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Bioplastics Market Is Set To Be A Billion Dollar Industry By 2027 According To Market Forecasts | Grand View Research, Inc.

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Bioplastics Market Is Set To Be A Billion Dollar Industry By 2027 According To Market Forecasts | Grand View Research, Inc.

May 10
17:45 2021
Bioplastics Market Is Set To Be A Billion Dollar Industry By 2027 According To Market Forecasts | Grand View Research, Inc.

“Grand View Research, Inc. – Market Research And Consulting.”
According to a new report published by Grand View Research, Growing population and urbanization coupled with the increasing awareness regarding health-issues in emerging economies of Asia Pacific are likely to assist end-use industries, which in turn is expected to escalate the bioplastics market growth.

The global bioplastics market size is expected to reach USD 26.0 billion by 2027, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 16.1% over the forecast period. Increasing environmental concerns, favorable government initiatives, and rising consumer awareness about the sustainable and eco-friendly products are expected to drive the demand for bioplastics.

They are majorly utilized as an environmentally friendly alternative to conventionally produced plastics for use in various application segments including packaging, agriculture, consumer goods, textile, automotive & transportation, and building & construction. Thus, environmentally friendly properties of these products along with growing demand from flexible packaging applications are also estimated to drive the market growth.

According to European Bioplastics e.V global production capacity of bioplastics was 2.1 million kilotons in 2019, which is expected to reach 2.4 million kilotons by 2024. In terms of volume, non-biodegradable product segment accounted for the maximum share in 2019. It is anticipated to continue its dominance over the forecast years due to high demand for electronic equipment, automotive housings, and consumer goods, such as carry bags, films, and bottles. 

Browse full report with Table of Content @ https://www.grandviewresearch.com/industry-analysis/bioplastics-industry

Bioplastics Market Report Highlights

 Key raw materials utilized in the production of bioplastics includes renewable biomass sources, such as vegetable fats and oils, straw, corn starch, woodchips, recycled food waste, sawdust, and various others

In terms of volume, non-biodegradable product segment accounted for prominent share in the market in 2019 and is further expected to witness steady growth over the forecast period

Packaging application segment dominated the global market in 2019 and accounted for more than 62% of the market revenue share

Europe led the global market in 2019 and held more than 44% of the total share. The regional market will retain its dominant position throughout the forecast years

Ask for Sample Pages @ https://www.grandviewresearch.com/industry-analysis/bioplastics-industry/request/rs1

Bioplastics Market Segmentation

Grand View Research has segmented the global bioplastics market on the basis of product, application, and region:

Bioplastics Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)

        • Polylactic Acid
        • Starch blends
        • Polybutylene Adipate Terephthalate (PBAT)
        • Polybutylene Succinate (PBS)
        • Others
        • Polyethylene
        • Polyethylene Terephthalate
        • Polyamide
        • Polytrimethylene Terephthalate
        • Others

Bioplastics Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)

     Consumer goods
     Building & Construction
     Automotive & Transportation

Bioplastics Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)

     North America
        • U.S.
        • Mexico
        • Canada
        • Germany
        • France
        • U.K.
    • Asia Pacific
        • China
        • India
        • Japan
    Central & South America
        • Brazil
        • Mexico
    Middle East & Africa

List of Key Players of Bioplastics Market

    • StealthGas Inc.
     Toray Industries
     Toyota Tsusho
     M& G Chemicals
     PTT Global Chemical Public Company Ltd.
     Showa Denko K.K.
     NatureWorks LLC
    • BASF SE
     Futerro SA
     E. I. du Pont de Nemours and Company

Speak to Analyst @ https://www.grandviewresearch.com/inquiry/66/ibb

About Grand View Research

Grand View Research is a U.S. & India-based market research and consultancy firm. It is headquartered in San Francisco. We provide business insights, syndicated research reports, and customized research reports to large as well as small and medium-scale enterprises. Our database features thousands of statistics and in-depth analyses on more than 45 industries. Grand View Research’s extensive database is used by Fortune 500 companies to understand the regional as well as the global business environment.

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Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
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Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/bioplastics-industry