At present, the majority of plastics are derived from petrochemicals. Most plastic packaging is used only once (single use items) and 95% of the value of the material is thus lost, with a global economic cost of US$80-$120 billion annually. The market for bioplastics will grow significantly in coming years, with production capacities exceeding 6 million tonnes by 2027.
Bioplastics are biobased products that allow for greater product sustainability due to their biodegradability and renewability. Their use is attractive as bioplastics that biodegrade to CO2 and H2O mitigate the negative effects of standard plastic (litter and damage to aqua environments). Renewable feedstocks such as corn, sugarcane, and algae can be utilized instead of petroleum, thereby reducing global dependence on crude oil and lessening the impact on climate.
Despite growing global environmental awareness, bioplastics currently account for a very small percent of the >360 million tons of plastics produced annually, but with annual growth of 20-30%. Due to the development of advanced biopolymers and materials, reduced costs, regulations and increased consumer awareness demand is rising.
The sky rocketing price of petroleum coupled with government regulations and consumer global environmental concerns, and continued population growth is pushing the plastic industries towards sustainability. Growing government regulatory restrictions, consumers’ desire and energy conservation are some of the key factors that drive research and proudct development towards renewable resource-based polymeric biomaterials. The performance of bioplastics is also improving and range of applications expanding.
This report covers:
Analysis of Biobased and Biodegradable Plastics (Bioplastics) market.
Global production capacities, market demand and trends 2019-2033 for Biobased and Biodegradable Plastics (Bioplastics).
Analysis of biobased chemicals including:
Bio-based adipic acid
11-Aminoundecanoic acid (11-AA)
Dodecanedioic acid (DDDA)
2,5-Furandicarboxylic acid (2,5-FDCA)
Furandicarboxylic methyl ester (FDME)
3-Hydroxypropionic acid (3-HP)
5 Hydroxymethyl furfural (HMF)
Lactic acid (D-LA)
Lactic acid – L-lactic acid (L-LA)
Monoethylene glycol (MEG)
Monopropylene glycol (MPG)
Succinic acid (SA)
Analysis of synthetic Bioplastics market including: