Bioplastics Market - Global Industry Analysis, Trends and Forecast, 2012 – 2018

Bioplastics Market - Global Industry Analysis, Trends and Forecast, 2012 – 2018

  • Submitted By: amyjames
  • Date Submitted: 07/11/2016 3:11 AM
  • Category: Business
  • Words: 768
  • Page: 4

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Bioplastics are a type of plastic manufactured from biomass sources such as vegetable oils and certain starches and are also
called biobased plastic or biodegradable plastic. They are commonly used for insulation, as a packaging material, and in
crockery and food packaging. Since bioplastics are plant based products, the consumption of petroleum for the production of
plastic is expected to decrease by 10-15 percent by 2018. The bioplastic industry has high potential for growth if the focus is not
just the replacement of current plastic applications but innovation of newer properties and newer applications as well.
Starch-based and PLA-based bioplastic classes have shown increased growth in the past years and form a major part of the
bioplastic ingredient market segment. Other such bioplastics which show promising growth are cellulose-based,
polyhydroxyalkanoates based, bio-polyamide based, and biopolyethylene based bioplastics. The market is dominated by the
United States and Europe which are followed by Asia-Pacific and Rest of the World. The market is growing rapidly because more
and more companies are entering this market with newer innovations and applications in automotive and electronics. Europe is
a larger bioplastic market because of limited crude oil reserves. Bioplastics are segmented into a variety of applications
including packaging, agriculture, food...

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