The biodegradable plastics market in Europe is forecast to witness a robust CAGR of around 12% during 2014-19.
Growth in the market is being supported by various factors such as increasing environmental awareness among consumers, strict implementation of environment friendly laws, and growing R&D investments in the bioplastics sector by both public and private sectors. The European Union’s decision to reduce overall consumption of thin plastic bags in the region by about 80% through 2019, as compared to 2010 consumption levels, is expected to create huge growth opportunities for biodegradable plastics manufacturers over the next five years. Reduction in the usage of conventional plastic bags is expected to directly boost the consumption of biodegradable plastic bags in malls, retail outlets and loose packaging applications.
Biodegradable plastics are the type of bioplastics that can be decomposed by micro-organisms. They can be derived either from renewable polymers such as starch, starch blends and polylactic acid (PLA), or from petroleum feedstock such as polycaprolactone (PCL) and polybutyrate. Based on the source material, biodegradable plastics are classified as biobased and fossil based biodegradable plastics. Among these two categories, biobased biodegradable plastics are expected to continue their dominance in the European biodegradable plastics market, in terms of total consumption. Ongoing research and development in the area of biodegradable plastics is expected to open a wide range of niche application areas, thus expanding overall market penetration of biodegradable plastics in Europe over the next five years. Biodegradable plastics are used in a broad range of end-user industries such as packaging, agriculture, textiles and disposable goods. Additionally, biodegradable plastics are also witnessing increasing adoption in non-conventional applications such as 3D printing and medical implants.
1. Research Methodology
2. Analyst View
3. Global Bioplastics Sector Overview
4. Europe Bioplastics Sector Overview
5. Europe Biodegradable Plastics Market Outlook
6. Europe Biodegradable Plastics Segmental Analysis
7. Market Dynamics
8. Market Trends & Developments
9. Competitive Landscape
10. Strategic Recommendations
Avail 10% customization in the report without any extra charges and get the research data or trends added in the report as per the buyer’s specific needs