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Biobased Biodegradable Plastics Market to Grow at CAGR of 18% between 2014 and 2020

Article Description

Biobased plastics are a family of materials that may be partially or fully composed of renewable resources, along with fossil fuel resources to some
extent. Biobased plastics are manufactured using biotechnology that makes use of varied materials with different applications. They are produced from
either plant material such as cellulose, starch, etc., or through the polymerization of other materials such as polyethylene terephthalate, polylactic
acid, and polypropylene.

The biodegradability of biobased plastics is dependent on its biobased content, since artificially polymerized plastics can’t be acted upon by
microorganisms responsible for the process of biodegradation. For instance, starch is fully biobased and biodegradable, cellulose is partly composed of
biobased materials and is also biodegradable, and bio–polyethylene tetraphlate is partly biobased but non-biodegradable.

Research Initiatives for Biobased Biodegradable Plastics to Reverse Effects of Fossil Fuel-based Plastics

The environmental damage and health hazard caused by the use of traditional fossil fuel-based plastics is the primary factor driving the adoption of
relatively new biobased biodegradable plastics. Research organizations and manufacturers are exploring the use of biobased biodegradable plastics to
reverse environmental damage caused by petroleum-based plastics and mitigate its effects on current resource reserves. As such, biobased biodegradable
plastics offer a sustainable alternative obtained from renewable resources for the modern society.

Additionally, government initiatives supporting environmentally viable solutions over plastics are boosting the growth of the global biobased biodegradable plastics market extensively. However, an inadequate
global sales network poses a major challenge for the biobased biodegradable market.

Biobased Biodegradable Plastics to Account for Significant Proportion of Plastic Consumption in Coming Years

Despite its relatively recent emergence, the biobased biodegradable plastics market is expected to witness significant growth in the next few years. The
global biobased biodegradable plastics market is expected to exhibit progress at a CAGR of 18% between 2014 and 2020, with Europe dominating the market in
terms of revenue.

In 2013, biobased biodegradable plastics accounted for 591,000 metric tons, which is close to 0.1% of global plastic consumption. This overarching
dominance of conventional plastics, aided by the strongly established sales and development channels, is expected to be reversed as biobased biodegradable
plastics are poised for an impressive growth in the remainder of the ongoing decade.

Globally, the biobased biodegradable plastics market is segmented on the basis of product types, applications, and geography. According to application, the
market is sub-segmented into packaging, agriculture, textiles, transportation, electronics, and others. Based on product types, the global biobased
biodegradable plastics market has the sub-segments of polyhydroxyalkanoates (PHA), polyester, polylactic acid (PLA), and cellulose.

Geography-wise, the global biobased biodegradable plastics market is segmented into North America, Western Europe, Latin America, Asia Pacific, the Middle
East & Africa (MEA), and Eastern Europe. Of all the geographical regions, Europe leads the global biobased biodegradable plastics market on account of
the easy availability of raw materials and stringent regulatory legislations and environmental measures against the use of fossil fuel-based plastics.

Among the other regions, while North America has been a strong market for biobased biodegradable plastics exhibiting a consistent performance, Latin
America will emerge as a dark horse in the biobased biodegradable plastics market. Asia Pacific also has strong growth prospects and Japan, in particular,
is expected to surge ahead of other countries in the region in the coming years.

Browse the full Global Biobased Biodegradable Plastics Market report at http://www.mrrse.com/global-biobased-biodegradable-plastics-market