Bioplastics Market Size to Reach USD 19.93 Billion by 2026; Rigid Packaging Segment to Dominate Market with Increasing Demand from Shipping Companies, Predicts Fortune Business Insights™

Key Companies Covered in Bioplastics Market Research Report are Kaneka Takasago, Taghleef Industries, Genecis, Braskem, BASF, Toray, Roquette, Succinity GmbH, NatureWorks, Solvay, Danimer Scientific, Trifilon, Biofase, Bioapply, Lyondellbasell, Avantium, PTT MCC biochem, & more According to the current Bioplastics Market trend, the market is dominated by the rigid packaging segment with respect to applications. This is on account of high demand from shipping companies that demand sustainable...

According to the current Bioplastics Market trend, the market is dominated by the rigid packaging segment with respect to applications. This is on account of high demand from shipping companies that demand sustainable yet sturdy packaging products fit for carrying a heavy load.

Report Highlights

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Surging Demand for Ready-to-eat Food Products will help Promote market for Bioplastics

A major Bioplastics Market growth driver is the increasing environmental concerns related to the use of plastic and its harmful effects. This, followed by the rise in demand for alternatives for plastics, is expected to help increase the overall Bioplastics Market size in the forecast period. Besides this, the increasing demand for bioplastics from industries such as pharmaceutical companies and food industries is anticipated to help attract high Bioplastics Market revenues in the forecast period. This is owing to the rise in demand for ready-to-eat food products that require safe packaging materials with low environmental impact.

List of the significant Bioplastics Market manufacturers include;

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Presence of Robust Automotive Industry to aid in Expansion of Europe Market

Geographically, the global Bioplastics Market is dominated by Europe holding about 19% Bioplastics Market share. This percentage is anticipated to reach 25% by the end of 2022 on account of suitable policies adopted by the European state members of France and Italy. Moreover, the presence of a robust automotive industry demanding lightweight vehicles and a rise in demand for bioplastics used for packaging products are further anticipated to help this region continue dominance in the coming years.

On the other side, the European Bioplastics 2018 report states that 56% of the overall production of bioplastic was from Asia Pacific. The Asia Pacific Bioplastics Market growth is attributable to a new foreign investment law imposed by the Chinese government effective from January 2020. The immensely multiplying packaging industry demands are further expected to help augment the Bioplastics Market growth in the coming years.

Joint Venture and Merger and Acquisition Strategies to Help Players Attract High Revenues

The key Bioplastics Market manufacturers are entering into partnerships and joint ventures for attracting high Bioplastics Market revenue in the forecast period. Some of the significant market players are PTT MCC Biochem, NatureWorks, Succinity GmbH, and Total Corbion NV. For the manufacturing of PLA, a partnership was signed between PHH, an oil company located in Thailand, and Cargill. Similarly, Corbion NV, a joint venture of Corbion and Total also deals with the production of PLA. Additionally, BASF and Corbion entered into a joint venture forming Succcinity GmbH for the production of Succinic Acid and its derivatives.

Other strategies adopted by players include expansion of geographical presence, new product offerings, and multiplication of distribution channels worldwide.

Some of the key industry developments in the Bioplastics Market are:

December 2018 – A new production facility was opened in Rayong Thailand by Total Carboin NV with an annual production capacity of 75KT. It also uses non-GMO sugarcane grown locally for manufacturing high heat PDLA and PLA.

January 2019 –  The acquisition of Buifilm, was completed by Taghleef Industries. Biofilm is a Latin American manufacturing company that produces BOPP film for flexible packaging in industrial applications.

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Detailed Table of Content:

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Have a Look at Related Reports for Bioplastics Market:

Food Packaging Market Size, Share & Industry Analysis, By Materials (Glass, Metal, Paper & Paperboard, Wood, and Plastics [Polypropylene, Polyethylene, PET, and Others]), By Product (Rigid, Semi-Rigid, and Flexible) By Application (Fruits & Vegetables, Bakery & Confectionery, Dairy Products, Meat, Poultry & Seafood, Sauces, Dressings and Condiments, and Others), and Regional Forecast, 2019-2026

Polyethylene (PE) Market Size, Share & Industry Analysis, By Type (HDPE, LDPE, LLDPE), By End User (Packaging, Automotive, Infrastructure & Construction, Consumer Goods/Lifestyle, Healthcare & Pharmaceutical, Electrical & Electronics, Agriculture, Others), and Regional Forecast, 2019-2026

Paints and Coatings Additives Market Size, Share & Industry Analysis, By Type (Dispersing Agent, Rheology Agent, Leveling Agent, Anti-foaming Agent, Adhesion Promoting Agent, and Others), By Application (Automotive, Architectural, Wood, Industrial, and Others), and Regional Forecast, 2019-2026

Polyurethane (PU) Market Size, Share & Industry Analysis, By Product Type (Rigid Foam, Flexible Foam, Molded Foam, Elastomers, Adhesives & Sealants, Coatings, and Others), By Application (Furniture, Construction, Electronics, Automotive & Transportation, Packaging, Footwear, and Others), and Regional Forecast 2019-2026

Blow Molded Plastics Market Size, Share & Industry Analysis, By Resin (Polyethylene Terephthalate (PET), Polyethylene (PE), Polyvinyl Chloride (PVC), Polystyrene (PS), and Others), By Molding Method (Extrusion Blow Molding, Injection Blow Molding, Stretch Blow Molding, Rotational Blow Molding), By Application (Transportation, Packaging, Building & Construction, Electrical & Electronics), and Regional Forecast 2019-2026

Polymer Foam Market Size, Share & Industry Analysis, By Type (Polyurethane (PU), Polystyrene (PS), Polyethylene (PE), Polyvinyl Chloride (PVC) and Others), By Application (Automotive, Building & Construction, Packaging, Furniture, Appliances, Apparel and Others), and Regional Forecast, 2019-2026

Polypropylene (PP) Market Size, Share & Industry Analysis, By Type (Homopolymer, Copolymer), By End User (Packaging, Automotive, Infrastructure & Construction, Consumer Goods/Lifestyle, Healthcare & Pharmaceuticals, Electrical & Electronics, Agriculture, Others), and Regional Forecast 2019-2026

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