The global bioplastics market is expected to grow significantly at a CAGR of over 20% during the forecast period. The key factors flourishing the growth of the global bioplastics industry includes the demand for the better alternatives of the plastics. Growing government and users' concerns towards the use of eco-friendly and bio-based products are projected to drive market growth. As per the researches, bio-based Polypropylene PP accounted for huge demand due to the widespread applications of the material in a broad range of sectors. These bio-based and biodegradable bioplastics possess a wide array of properties including physical and mechanical as per their chemical composition.

Further, government support is also supporting the growth of the global bioplastics market. Increased needs to limit the reliance on traditional fossil fuels along with several governmental policies and initiatives propels the growth of the market. Some of the laws and policies implemented by the government include implementing charges and banning on the use of plastic on the conventional plastics products, such as packaging material, disposables, shopping bags, packaging films, and many others. Thus, the implementation of several regulations and bans against the use of plastic items are fuelling the growth of the global bioplastic industry.

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Based on the geographical viewpoint, North America is expected to hold a significant share owing to the increased demand for lightweight packaging as well as automobile parts production across the region. Further, BASF SE, Toray Group, ThyssenKrupp AG, Solvay SA, Corbion N.V., Mitsubishi Chemical Corp.., Evonik Industries AG, NatureWorks LLC, and Braskem are the key players contributing towards the growth of the market.

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Current Market Trends Covered in the Market Report:

• Increased investments by the government along with the private organizations regarding the use of environmentally friendly plastic products is likely to positively affect the bioplastics market growth during the forecast period
• Non-biodegradable Bioplastics segment will account for significant growth in the bioplastics industry
• The North America region will register a significant growth rate in the market during the forecast period
• Novel product launches, rapid innovations along with the geographical expansion are the key growth strategy adopted by the key players to sustain in the market.

Global Bioplastics Market – Segmentation

By Type

• Biodegradable Plastics
• Non-biodegradable Plastics

By Application

• Packaging
• Automotive and Assembly Operations
• Agriculture and Horticulture
• Construction
• Consumer Goods
• Other

Global Bioplastics Market – Segmentation by Region

North America

• United States
• Canada

Europe

• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World

• Middle East & Africa
• Latin America

Company Profiles

• BASF SE
• BioApply
• Biome Technologies PLC
• BioSphere Plastic LLP
• Braskem
• Cardia Bioplastics
• Cereplast Inc.
• Corbion N.V.
• Evonik Industries AG
• Futerro SA
• GC Innovation America Corp.
• Koninklijke DSM N.V.
• LG Chem Ltd.
• Mitsubishi Chemical Corp.
• NatureWorks LLC
• Novamont SPA
• RadiciGroup SpA
• RTP Co.
• Solvay SA
• The Dow Chemical Corp.
• ThyssenKrupp AG
• Toray Group
• Toyo Engineering Corp.

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