“We have produced a new premium report Bio plastics Market. The report covers the analysis of global as well as regional markets of Bio plastics. The objective of the study is to identify market sizes of different segments & countries in recent years and to forecast the values for the next six years. The report also deep dives into the sub-segments of Bio plastics Market by materials (Bio-PE, Bio- PA, biodegradable polyesters, starch blends, PHA), by applications (food services, horticulture, consumer products) through main geographies in the global market such as North America, Europe, Asia-Pacific and RoW. According to the report the Global Bio plastics Market is projected to grow at a CAGR of 28% in terms of value over the period of 2017-2023.
The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the Bio plastics Market during the said period. The report also provides market attractiveness analysis, by geography, and market share analysis, by key players respectively. Some of the prominent participants in the Global Bio plastics Market are Evonik Industries, Biome Technologies Plc, Techno Polymer Co. Ltd, Natureworks LLC, BASF SE, FKuRKunststoff GmbH, Innovia Films, Novamont SPA, Cardia Bio plastics, Metabolix Inc”
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The Use of Bioplastics Reduces the Consumption of Petroleum Feedstock’s
The global bio plastics market is likely to be driven by factors such as increasing prices of raw materials for petro based plastics, bio plastics are eco-friendly, support of government bodies and institutions, however the growth in the market is likely to be hampered by over-dependence on agriculture sources such as vegetable oils and fats and starches. The production of these raw materials is inconsistent due to frequently changing climate conditions.
Asia Pacific Region Is the Largest Consumer of Bio Plastics Globally Followed By North America and Europe
The global bio plastics market covers analysis of regions such as North America, Europe, Asia-Pacific inclusive of Australia and RoW (including Latin America, Middle East and Africa). Among the geographies Asia-Pacific is the largest market followed by Europe, North America is anticipated to grow at the highest CAGR over the forecast period.
Major key Players Covered in this Report
The companies covered in report include Evonik Industries, Biome Technologies Plc, Techno Polymer Co. Ltd, Natureworks LLC, BASF SE, FKuRKunststoff GmbH, Innovia Films, Novamont SPA, Cardia Bio plastics, Metabolix Inc.