NEW YORK, Oct. 5, 2016 /PRNewswire/ -- This BCC Research report explains the various types of bioplastics that are available, indicates key players and trends and provides detailed forecasts on demand by global region and projected use by type of application, such as packaging, automotive, consumer goods and general industrial. Forecasts provided through 2020.
Use this report to:
Learn about plastics made from renewable resources such as biomass or food crops and the various types of bioplastics.
Receive detailed forecast on demand by global region and projected use.
Identify hurdles for the bioplastics industry including unpredictable pricing for oil and agricultural crops, corporate commitment and new technology.
Gain information on profiles of the most important suppliers of bioplastics, including resin producers and compounders.
The global bioplastic market totaled 1.6 million metric tons in 2015 and should total nearly 6.1 million metric tons in 2020, a compound annual growth rate (CAGR) of 30.0% for the five-year period, 2015 to 2020.
Americas as a segment for bioplastic market totaled 798,830 metric tons in 2015 and should total nearly 3.4 million metric tons in 2020, a CAGR of 33.3% through 2020.
The Asian market totaled 380,100 metric tons in 2015 and should total nearly 1.4 million metric tons by 2020, a CAGR of 29.7% through 2020.
One of the fastest-growing materials sector in the past decade has been the production of plastics from renewable resources, referred to as bioplastics. The main driver of this growth is an interest in reducing use of petroleum as a feedstock because of its contribution to climate change, its pricing volatility and its occasional role as a political weapon. This report explains the various types of bioplastics that are available, indicates key players and trends and provides detailed forecasts on demand by global region and projected use by type of application, such as packaging, automotive, consumer goods and general industrial.
REASONS FOR DOING THE STUDY
The rapid emergence of bioplastics is one of the major stories in materials in recent years. Once billed as biodegradable plastics, the theme for renewably sourced plastics has shifted dramatically in recent years to sustainability. To maximize market impact, the growing trend is to compound bio-based plastics with oil-based plastics to extend bioplastics' reach into markets for durable products used in cars and cell phones, among other applications. The focus has shifted away from bioplastics' contribution to reducing the solid-waste stream and toward reducing total carbon footprint. The world's bioplastics consumption reported a relative "slow" growth in 2015. Producers ascribed the slowdown to negative factors such as the delays in implementation of the bioplastics regulations and the lack of traction of bioplastics demand in several regional markets.
As a result, major producers such as NatureWorks, Braskem, Cathay and Tianan Biologic Material Co. Ltd. postponed the launch of their production facilities. However, the support from global companies such as Coca-Cola, Toyota and Tetra Pak keeps strong, and other momentums such as stricter regulations and governmental support are building up. Most of the postponed facilities may re-launch at the same or even bigger scales or shift to other bioplastic types in 2016 or 2017. Researches show strong growth in the global bioplastics market is still expectable in the following five years.
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