Chicago, August 12, 2021 (PRNewswire) – According to a new market research report »Bioplastic and Biopolymer Market By type (non-biodegradable, biodegradable), utility industry (packaging, consumer goods, automotive and transportation, textile, agriculture and horticulture), region-wide forecast until 2026 ”. Published by MarketsandMarkets, Global Bioplastics & Biopolymer Market Size from $ 10.7 billion A.D. 2021 $ 29.7 billion At a CAGR of 22.7% between 2026, 2021 and 2026.
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Bioplastics are plastics derived from renewable sources such as corn, potatoes, rice, soybeans, sugarcane, wheat and vegetable oil, while biopolymers are natural polymers. A bioplastic may or may not change. Bioplastics are mainly distributed in the packaging, consumer goods, automotive and transportation, agriculture and horticulture, medical and other end-use industries, mainly biodegradable and non-modified plastics.
Bioplastics and biopolymers, like biodegradable ones, play a major role in the market.
At the time of forecasting, biodegradation was the largest component in terms of value. Biodegradable polymers are high molecular weight compounds that decompose naturally in bacteria and other microorganisms. The process produces natural by-products such as biomass, water, gases and non-organic salts. Biodegradable polymers are made from renewable sources such as corn oil, straw, orange peel and plant materials and are decomposed into natural by-products. Concerns over environmental pollution and renewable petroleum resources are leading to an increase in the use of biodegradable bioplastic and biopolymer.
In terms of value, the packaging segment is expected to play a major role in the bioplastic and biopolymer market during the forecast period.
Packaging is one of the end-to-end industries that dominate the bioplastic and biopolymer market. Bioplastics, and especially biodegradable bioplastics, are becoming increasingly popular to replace conventional plastics to solve environmental problems. The use of bioplastics is increasing in applications such as bottles, films, clamp cartons, garbage bags, carry-on bags, melt films and food items.
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APAC is projected to be the fastest growing market for bioplastic and biopolymer between 2021 and 2026.
APAC is projected to be the fastest growing market for bioplastic and biopolymer between 2021 and 2026. Growth in APAC is largely due to the fact that it is growing rapidly as economies. China, India, And Indonesia. Population growth has increased consumer spending, and rapid industrial expansion is responsible for the region’s rapid growth. Increasing environmental awareness and awareness are key factors influencing the demand for bioplastics and biopolymers, including regulations. Manufacturers focus on high-growth markets to gain market share and increase their profitability.
Key players in this Bioplastic and Biopolymer Market NatureWorks, USABrazil), BASF (Germany), Total corbion (Netherlands), Novamont (c.Italy), Biome Bioplastics (UK), Mitsubishi Chemical Content Corporation (Japan), Biotech (Germany), Toray IndustriesJapan), And plant technologies (Australia).
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