Market Analysis Report Global Bioplastics Market Report 2019

Bioplastics Market Projected to Surpass USD
3900 million by 2023
The Report Global Bioplastics Market by Manufacturers,
Countries, Type and Application, Forecast to 2023
provides information on pricing, market analysis,
shares, forecast, and company profiles for key industry
participants.
Global Bioplastics Market Synopsis:
According to Market Analyst, The Global Bioplastics Market is expected to grow at an impressive
Compound Annual Growth Rate (CAGR) from 2019 to 2023.
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The Bioplastics industry has also suffered a certain impact, but still maintained a relatively optimistic
growth, the past four years, Bioplastics market size to maintain the average annual growth rate of
0.0611427374026 from 2200.0 million $ in 2014 to 2960.0 million $ in 2018, Market analysts believe
that in the next few years, Bioplastics market size will be further expanded, we expect that by 2023, The
market size of the Bioplastics will reach 3900.0 million $.
Bioplastics comprises of the class of plastics made from plant sources such as sugarcane, sweet potato,
hemp oil, corn starch, and soybean oil rather than petroleum. The use of bioplastics reduces the
consumption of petroleum feedstock’s and is preferred by consumers across the world as it is organic.
Some of the significant factors driving the growth of the Global Bioplastics Market are the eco-friendly
properties, availability of renewable feedstocks, and favorable government policies enable
manufacturers to adopt bio-based plastics. Increase in adoption of biodegradable products and
improvement in scope of bioplastics across end-user industries drive the growth of the bioplastics
market.
The bioplastics market according to product type is segmented into biodegradable and non-
biodegradable bioplastics. Biodegradable plastic is further segmented into polylactic acid (PLA),
polyhydroxyalkanoate (PHA), biodegradable starch blends, biodegradable polyesters, and others
(biodegradable cellulose esters). The non-biodegradable plastic segment is divided into Bio-PA, Bio-PET,
Bio-PE, and others such as Bio-PC, Bio-TPE, Bio-PUR, and epoxies.