Bio-based polymers are widely used in fruit and vegetable packaging in the supermarkets, for bread bags and bakery boxes, bottles, envelopes and display carton windows, and shopping or carrier bags, among others. The mounting need to reduce the dependency on conventional fossil fuels is propelling the demand for bio-based products. This is also supported by the new policies and regulations implemented and adopted by the government bodies globally. These regulations include prohibition or implementing additional surcharges on the use of conventional plastics in applications, such as shopping bags, packaging materials, and disposables. The market growth is driven principally by the growth of the global packaging end-use industry. In addition to packaging, bioplastics & biopolymers are used in various end-use industries such as consumer goods, automotive & transportation, agriculture & horticulture, and textile among others.
The global pandemic of Coronavirus (COVID-19) has triggered stock market unpredictability, tight border controls, and worldwide lockdown, leading the polymers industry, as well as large companies and governments, to restock supply chains. The whole world is experiencing severe impact on social and financial sectors, and all global industries are facing challenges during the COVID-19 pandemic. The coronavirus pandemic has had a mixed impact on the bio-based sector, with some businesses helping with technological solutions to help fight the outbreak, while others appear to see growing demand for products like biodegradable takeaway packaging. However, in general, many production lines have closed because of the crisis. The exclusive COVID-19 Impact Analysis report by Axiom MRC explores the outbreak of COVID-19, its impact on the global and regional economies, and its implications on the bioplastics & biopolymers industry. The report studies the effect of the pandemic on the global economy by evaluating factors like consumption, GDP, business investment, key players marketing strategies, key supply and demand-side factors, epidemiological swing factors, inventory, and governmental policies & decisions.
The bioplastics & biopolymers market is analysed based on type, end user industries and geography. Various types of the industry is segmented into biodegradable bioplastics & biopolymers (PLA, PBS, PHA, starch blends and others), and Non-biodegradable/bio-based bioplastics & biopolymers (Bio-PA, Bio-PE, Bio-PET, Bio-PTT and others). The various end user studied in this report are agriculture & horticulture, automotive & transportation, consumer goods, packaging, textile and others. On the basis of geography, the Bioplastics & Biopolymers market is segmented into North America, Europe, Asia-Pacific and Rest of the world.
The key competitors of this market include Arkema, BASFSE, Biome bioplastics, Biotec, Braskem, Cardia bioplastics, Fkur kunststoff, Futerro, Green dot bioplastics, Mitsubishi chemical holdings corporation, Natureworks, Novamont, Plantic technologies, PTT MCC biochem, Succinity, Synbra technology, Tianan biologic materials, Toray industries, Total corbion and Zhejiang hisun biomaterials among others. New product launch, joint venture, and expansion are the key strategies adopted by the company to penetrate the global bioplastics & biopolymers market.
The repercussion of the COVID-19 necessitates a speculative future for economies and industries. Amongst continuous and constant developments, Axiom team of experts will bring to you timely updates about the Global Economic Impact of COVID-19.
Why to buy this report: