Asia Pacific Biodegradable Plastic Market to 2027 - Regional Analysis and Forecasts by Type, End User, and Countries
NEW YORK, Jan. 20, 2020 /PRNewswire/ -- The Asia Pacific biodegradable plastic market is accounted to US$ 731.0 Mn in 2018 and is expected to grow at a CAGR of 16.6% during the forecast period 2019 - 2027, to account to US$ 2,916.1 Mn by 2027. The Asia Pacific biodegradable plastic market is segmented on the basis of type as - PHA, PLA, starch blends, biodegradable polyesters and others. The starch blend Asia Pacific biodegradable plastic market is estimated to hold a dominant share in the market. The starch blend polymer bio-blends are biodegradable polymeric materials which are composed of cellulosic-based biomaterials that can be degraded by enzymes and microorganisms. The combination of starch and polyolefin produces a single material carrying the biodegradation properties of starch with the thermal, mechanical and barrier properties of polyolefin. The common starches that are used are rice starch, sago and tapioca starch, whereas the polyolefin used are polypropylene and polyethylene. The low permeability of starch films has made it an element of choice for the food packaging application. In the granular state, starch blends are used as a component in synthetic polymer blends and as a filling agent for polyolefin. The starches can be modified by means of grafting with vinyl monomers such as methyl acrylate.
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The Asia Pacific biodegradable plastic market is segmented on the basis of end user as: packaging and bags, agriculture and horticulture, consumer goods, textile and others.The packaging and bags segment accounts the largest share in the Asia Pacific biodegradable plastic market, while the other end-users segment also contributes a significant share in the market.
The biodegradable plastics have found a profound place in the packaging and bags sector considering the growing demand for biodegradable plastic from the packaging sector due to its properties like being stronger and convenient to use as compared to the traditional plastics.Rigid packaging is implemented by manufacturers of cosmetic goods, as well as beverage bottles, among others.
Materials including bio-PE, PLA, or bio-PET, are commonly used in rigid biodegradable plastic packaging.
Clean up efforts taken up by various Asian governments is one of the key drivers for the growth of Asia Pacific biodegradable plastic market.The supportive government policies for biodegradable plastics worldwide have further propelled the use of these plastics.
Bans on conventional plastics in several countries, technological and legislative support, and commercial environment are a few of the factors that further boost the market growth.For instance, many Asian countries, such as China, India, Japan, and Australia, are collectively initiating a clean-up effort to reduce unnecessary waste by banning or regulating the use of plastic bags.
For instance, India tackled their plastic waste issue by introducing a ban on disposable plastic, in accordance with a ruling by the High Court.
Asia Pacific biodegradable plastic market in segmented on the basis of country as - Australia, China, India, Japan, South Korea and reset of Asia Pacific.China has a major share in the Asia Pacific biodegradable plastic market, which is followed by Japan.
The high per capita consumption, and increase in government initiatives are some of the important drivers for the growth of biodegradable plastic market in China.The rising concerns over plastic use may lead to regulators banning single-use, non-biodegradable plastics such as cutlery and packaging in the country.
Biodegradable plastic production is expected to grow over the forecast period.
Some of the players present in Asia Pacific biodegradable plastic market are API SpA, BASF S.E., FKuR Kunststoff GmbH, Balson Industries, Novamont S.p.A., Kingfa Sci. & Tech. Co., Ltd., GuangDong Huazhilu Biological Material Co., Ltd., Mitsubishi Chemical Corporation, Plantic Technologies Limited and Total Corbion PLA.
The overall Asia Pacific biodegradable plastic market size has been derived using both primary and secondary source.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Asia Pacific biodegradable plastic market.
Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Asia Pacific biodegradable plastic market.
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