The global Bio-Plastics market is expected to reach USD 58.9 Billion by 2028, growing at a CAGR of around 12.3% between 2021 and 2028.
— Zion Market Research
244 FIFTH AVENUE, SUITE N202, NEW YORK, UNITED STATES, October 10, 2022 /EINPresswire.com/ — The global Bio-Plastics market accounted for USD 23.4 Billion in 2020 and is expected to reach USD 58.9 Billion by 2028, growing at a CAGR of around 12.3% between 2021 and 2028.
The report on the bio-plastics market provides the comprehensive glance at the global and regional levels. The study provides historic data from 2016 to 2020 along with a forecast from 2021 to 2028 based on revenue and volume. The study includes major driving forces and restraints for the bio-plastics market along with the impact they have on the demand over the forecast period. Furthermore, the study also provides the major avenues of the global bio-plastics market.
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Our Free Sample Report Includes:
2022 Updated Report Introduction, Overview, and In-depth industry analysis
COVID-19 Pandemic Outbreak Impact Analysis Included
140 + Pages Research Report (Inclusion of Updated Research)
Provide Chapter-wise guidance on Request
2022 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
Includes Updated List of tables & figures
Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
Zion Market Research methodology
The global bio-plastics market study also comprises a detailed value chain analysis for providing a comprehensive view of the market. Moreover, the study also includes Porter’s Five Forces model for bio-plastics, to understand the competitive landscape of the global market. The study includes a market attractiveness analysis of all the segments related to the market.
The study provides a significant view of the global bio-plastics market by classifying it into product, application and region segmentation. These segments have been estimated and forecasted with the future and past trends. On the basis of product segment, the report has been segmented into bio-PET, starch blends, PLA, bio-PA, bio-PE, and others. The key applications in the report have been segmented into packaging, consumer goods, automotive, construction, electronics and other applications. The regional segmentation includes Middle East & Africa, Asia Pacific, Europe, Latin America and North America. Furthermore, it is bifurcated into major countries such as U.S., Canada, Mexico, Poland, Russia, UK, Germany, France, China, India, Japan, ASEAN, South Korea, Brazil, and Argentina.
Europe was the leading market of bio-plastics in 2020. It accounted for more than 28% share of the total market in 2020. Furthermore, it is predicted to exhibit the great potential to surge the demand for bio-plastics due to the growing favorable regulations in the region. North America was a second largest market in the same year. Moreover, Asia Pacific is the fastest growing market of bio-plastics within the forecast period owing to easy availability of raw materials as it is an agricultural based region. Furthermore, the growing disposable income and changing dynamics in the lifestyle of people in the region is likely to have a positive influence on the demand for bio-plastics materials in the region.
𝐁𝐫𝐨𝐰𝐬𝐞 𝐏𝐫𝐞𝐬𝐬 𝐑𝐞𝐥𝐞𝐚𝐬𝐞 @ https://www.zionmarketresearch.com/news/bio-plastics-market
Key Findings and Conclusions from the Study:
The use of bioplastic, which may break down naturally and is currently more common than traditional plastic, is biodegradable. Renewable resources or natural resources can be used in the production of bioplastic, however both are considered to be raw materials.
During the pandemic, governments and organisations put off enacting rules on single-use plastics and investing in environmentally friendly technologies.
It is necessary to make a sizeable investment in research and development in order to make bioplastics friendlier to the environment, increase the quality of the product, simplify the synthesis process, and maximise its application.
Major vendors of global bio-plastics market include
– Cardia Bioplastics
– BASF SE
– Toray Industries Inc
– Natureworks LLC
– E.I. du Pont de Nemours
– Corbion NV
– Dow Plastics
– Solvay SA
– Evonik Industries
– Novamont SPA
Browse the full “Bio-Plastics Market By Product (Bio-PET, Starch Blends, PLA, Bio-PA, Bio-PE, and Others), By Application (Automotive, Construction, Packaging, Consumer Goods, Electrical & Electronics, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/bioplastics-market
The global Bio-Plastics Market is segmented as follows:
Electrical & Electronics
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of the Middle East & Africa
COVID-19 Impact Analysis
The global Bio-Plastics market has witnessed a slight decline in the sales for short term to the lockdown enforcement placed by governments in order to contain COVID spreading. The restrictions imposed by various nations to contain COVID had stopped production, resulting in disruption across the whole supply chain. However, the global markets are slowly opening to their full potential and there’s a surge in demand. The market would remain bullish in the upcoming year.
The significant decrease in the global Bio-Plastics market size in 2020 is estimated on the basis of the COVID-19 outbreak and its negative impact on economies and industries across the globe. Various scenarios have been analyzed on the basis of inputs from various secondary sources and the current data available about the situation.
FREQUENTLY ASKED QUESTIONS
– What was the value of the global Bio-Plastics Market in 2020?
– What will be the size of the global Bio-Plastics Market in 2028?
– What are the key factors driving the global Bio-Plastics Market growth?
– Which region will make notable contributions to the global Bio-Plastics Market?
– Who are the major companies operating in the global Bio-Plastics Market?
𝑰𝒏𝒒𝒖𝒊𝒓𝒆 𝒎𝒐𝒓𝒆 𝒂𝒃𝒐𝒖𝒕 𝒕𝒉𝒊𝒔 𝒓𝒆𝒑𝒐𝒓𝒕 𝒃𝒆𝒇𝒐𝒓𝒆 𝒑𝒖𝒓𝒄𝒉𝒂𝒔𝒊𝒏𝒈 @ https://www.zionmarketresearch.com/inquiry/bioplastics-market
𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐙𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 –
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