[FURL=https://www.industryarc.com/Report/17737/bio-plastics-market.html]Bio-plastics Market[/FURL] size is forecast to reach $7.4 billion by 2025, after growing at a CAGR of 17.2% during 2020-2025. With a rise in the consumption of eco-friendly products and wide usage of bio-plastics in various industries such as pharmaceutical, transportation, and food industries, the bio-plastics market is witnessing an increase in its demand. Bio-plastics composites reduce landfill wastes, release much lower carbon footprint, and decrease volatile organic compound emissions. In addition, government and environmental governing bodies around the world have imposed various policies to encourage the use of bio-based products, which fuels the growth of bio-plastics market.Key Takeaways
Europe dominates the bio-plastics market owing to policies imposed by the government in the region such as Extended Producer Responsibility (EPR), which encourages the use of bio-plastics in various end-use industries.
Bio-plastics are an environmentally friendly alternative to petroleum-based plastics such as polypropylene plastic (PP) and polystyrene plastic (PS) and possess comparable better characteristics.
The bio-plastics are being developed to work in the existing injection molding equipment and are likely to aid in the bio-plastics market growth. Polycaprolactone (PCL), Polyhydroxyalkanoates (PHAs), Polybutylene adipate terephthalate (PBAT), and Polylactic acid (PLA) are the biodegradable polymers broken down into tiny granules suited for injection molding.
Request for Sample of the Report @ [FURL]https://www.industryarc.com/pdfdownload.php?id=17737[/FURL]
Bio-Plastics Market Segment Analysis - By Geography
Europe held the largest share in the bio-plastics market in 2019 up to 35%, owing to regulations enforced by the government and rising consumption of bio-based commodities in the region. In January 2011, Italy promoted a first of its kind regulation aimed at replacing traditional plastic carrier bags with biodegradable and compostable bags (compliant with the harmonized CEN Standard 13432) and reusable long-life bags. In May 2019, the government of England banned the use of plastic straws, drinks stirrers, and plastic-stemmed cotton buds.
Bio-Plastics Market Drivers
Favorable Government Regulations
Flourishing Packaging Industry
Bio-Plastics Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the bio-plastics market. In 2019, the market of bio-plastics has been consolidated by the top five players accounting for xx% of the share. The major key players in the bio-plastics market are Novamont S.p.A, Arkema S.A., Dow Chemical Company, BASF SE, Mitsubishi Plastics Inc., Corbion NV, Huntsman Corporation, Natureworks LLC, Toray Industries Inc., and Solvay SA.
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.