Biopolymers Consumption Market Worth $3,668.6 Million by 2018
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The report "Global Biopolymers/Bioplastics Market by Type (Bio PET, Bio PE, PLA, PHA, Bio PBS, Starch Blends, and Regenerated Cellulose), by Application (Packaging, Bottles, Fibers, Agriculture, Automotive, and Others), by Geography - Trends & Forecasts to 2018", defines and segments the global biopolymers market with an analysis and forecasting of the global consumption volume and value. The report is being carried by marketsandmarkets.com, Dallas Texas, USA.
According to the report, North Americais the world's largest market of biopolymers, consuming more than one-third of the total demand. The U.S is the key consumer of biopolymers inNorth America. Packaging, bottling, fibers, and automotive are the application segments driving the demand for PLA, bio-PE, and bio-PET which in turn is pushing the demand for biopolymers within the region. The growing concern for human health and safety in the region has also led to increased consumption of biopolymers.
The biopolymers market is also up-surging due to high penetration of material in industries like packaging and automotive that have further helped the biopolymers market to emerge in the region. Various innovations, developments, and expansions in different industries have, in turn, made the region a potential growth market for biopolymers and its products.
Bio-PE, manufactured through fermentation followed by polymerization, is mainly consumed in applications like packaging and automotive. PHA is the fastest growing biopolymers with a CAGR of 27.7% to 2018. The major growth driver for biopolymers is its biodegradability that will have a high impact on the industry in the future as well. The biopolymers packaging market has a wide scope for its expansion, which in turn would help in increasing the consumption of biopolymers. Bio-PE remains the dominant biopolymer and is expected to be the largest in the future.
Packaging is the biggest application of biopolymers and is anticipated to be worth$1,722.7 millionby 2018.
