Transparency
Market Research Report Added "Biodegradable
Packaging Materials Market".A plastic material can be
called as ‘bioplastic’ if it is either bio-based, biodegradable,
or possesses both the properties. The term ‘bio-based’ means that
the material or product is (partly) a resultant of biomass (plants).
Biomass used for bioplastics is produced from the stems of crops,
such as corn or sugarcane.
Biodegradation
refers to a chemical process under which microorganisms that are
present in the environment transform materials into natural
substances, such as water, carbon dioxide and compost.
However, users are
often not clear with the term ‘biodegradation.’ A bioplastic
called ‘polylactic acid’ is derived from the plant feedstock and
is not biodegradable. This proves that bioplastics are not always
biodegradable. However, PET bio-plastic is recyclable just like PET
made from natural gas and oil feedstock, as they are chemically the
same.
Bioplastic packaging
refers to use of bioplastics in packaging materials. The global
bioplastics packaging market is expected to witness a strong growth
owing to the increasing consumer awareness about nature friendly
products and changing inclination of consumers towards sustainable
products. Other growth drivers for the bioplastic packaging market
include increased focus on sustainable packaging by brand owners and
retail companies, global rise in implementation of plastic bag bans,
etc.
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However, the
complications associated with the production of bioplastic packaging
materials through agro-based raw materials, coupled with the
increasing production of crude oil and natural gas in the Middle East
and Russia (leading to reduced oil prices), is anticipated to pose a
threat to the overall growth of the bioplastic packaging market over
the forecast period. Other factors which could hamper the market
growth include high cost of biodegradable plastics as compared to
petro plastics, as well as performance, durability, and quality
concerns.
The bioplastics
packaging market can be segmented on the basis of end use industry
into food and beverages, pharmaceuticals industry, electronics, and
others. On the basis of material type, the market can be segmented
into bio-PET, PLA and blends, starch blends, bio-PE, and others. On
the basis of product type, the market can be segmented as flexible
packaging and rigid packaging.
In terms of
geography, Europe is expected to be largest market for biodegradable
plastics, in view of the strict government regulations against usage
of non-recyclable plastic in the region. The European government has
been taking major steps for increasing the usage of bio-based
products for sustainable environment. Even the Government of India
(GoI) has also been taking measures against the usage of plastic
bags, which in turn is expected to have a positive impact on growth
of the global bioplastics packaging market. The market in Europe is
anticipated to be followed by the Asia Pacific market, due to
presence of a large consumer base and awareness about bioplastic
materials in the region.
Key players
in the bioplastics packaging market include BASF, Novamont, Arkema,
Natureworks, Braskem, Acetati, Albis Plastics, Bayer Material
Science, Biome Bioplastics, Biopearls, Innova Films, and IFS
chemicals. Majority of the key players in the market are currently
focusing on making the best use of bioplastics to come up innovative
packaging ideas.
Mergers and
acquisitions has been a recent trend adopted by major players in the
bio plastic market. For instance, in 2014, Novamont (Italy) acquired
78% shares of JV Mater Biopolymer srl (Italy), and intended to
purchase the remaining shares of the company in 2016. JV Mater
Biopolymer srl owns a production facility at Patrica, Italy, which
was quite popular at the global level, and an ideal plant for
Novamont for production of its Orio B range of polyesters. These
polymers are used to improve the technical, economic, and
environmental characteristics of Master –Bi, Navomont’s range of
biodegradable and compostable bioplastics.
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