INDIA (PR Buzz), December 3, 2015 -- MarketStudyReport.com is pleased to introduce a report on Global Bioplastics market.
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Global Bioplastics Market is expected grow at a CAGR of 29% during the forecast period. The global production capacity will rise from 1.7 million metric tonnes in 2013 to 7.6 million metric tonnes by 2019.
Europe accounts for 36% of the global bio plastics consumption. Production and consumption share are also expected to witness a rise in Asia Pacific and South American region in the coming years.
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Bio plastics are majorly consumed in packaging industry in the form of plastic bags and bottles. Other industries include consumer products, agriculture, catering, pharmaceuticals, textiles, etc. Some of the most widely used bio-plastics are Polylactic acid (PLA) and PLA blends, starch extracts, bio-polyethylene (Bio-PE) and polybutylene succinate.
Reduced dependence on petroleum based raw materials, lower carbon footprint and lower toxicity are some of the advantages of using bio plastics. On the other hand, high cost and shortage in waste processing infrastructure pose as big disadvantages.
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The Global Bioplastics market is segmented by Bio and Synthetic based Biodegradables (Aliphatic polyesters, Starch based plastics, cellulose derivatves, polyanhydrides, poly vinyl alcohols and other Biodegradable plastics), by Non-Bio based biodegradables, by origin (Biobased plastics, Synthetic biodegradables), by Application (Bottles and packaging, agriculture, automotive, construction, consumer products and others) and by geography (North America, South America, Asia-Pacific, Europe and the rest of the world). The key players in this market are Dow Chemicals, Novamont, Toray Industries, Green Day Eco-friendly materials and Nature Works LLC.
Constraints:
High cost of raw materials and the lack of a standard procedure for the collection and recycling of the plastics are the major factors impeding market growth.
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