The global starch-based bioplastics market size was valued at $424 million in 2016, and is anticipated to grow at a CAGR of 3.7% from 2016 to 2023, to reach $561 million by 2023. Starch-based plastic is being produced on laboratory scale using glycerol on aluminum foil. This thermoplastic starch is known as bio-plastic starch. Thermoplastic starch currently represents the most widely used bioplastic, constituting majority of the bioplastic market. Starch-based bioplastics are often blended with biodegradable polyesters to produce starch/polylactic acid and starch/polycaprolactone, which are used for industrial applications such as in food packaging. Moreover, starch is widely utilized in the food industry owing to its availability in abundance from renewable resources coupled with low cost, and inherent biodegradability. Bioplastics available in the market are usually manufactured from starch. Moreover, starch-based bioplastic are often manufactured from modified starches, which are blended with natural and synthetic molecules.
Enhanced usage of starch-based bioplastics as an alternative packaging, owing to its barrier property such that it limits moisture transfer from the food to the atmosphere; and stringent environment over use of these films, which have a less negative impact on environment as compared to traditional plastics, drive the market growth. In addition, fluctuation in oil prices tend to force companies to search for a stable source of raw material, which further creates lucrative opportunities for the market growth. Furthermore, subsequent utilization of starch based films in the packaging sector for food packaging, cosmetics packaging, pharmaceuticals packaging, and goods packaging favors market growth. Ongoing investments and subsidies by the government of developing nations on the use of biodegradable plastics to mitigate the disposal issues of conventional plastics in sea and landfills are also expected to have a positive impact the market growth. Governments are encouraging the use of bioplastics by providing subsidies and charging taxes. However, increased raw material cost and reliance on petroleum-based bioplastics are expected to restrain the market growth.
The global starch-based bioplastics market is segmented based on technology, type, application, and region. Based on technology, it is classified into blow moulding, extrusion, injection molding, and others. Based on application, it is divided into flexible packaging, rigid packaging, textile, agriculture & horticulture, consumer goods, automotive transport, electrical & electronics, building & construction, and others. By type, it is categorized into starch blended with polylactic acid (PLA), starch blended with polyhydroxyalkonates (PHA), and others (starch-based polyvinyl alcohol (PVOH) blends and polybutylene succinate (PBS)). Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the key players in the global market include:
Toray Industries Inc.
KEY BENEFITS FOR STAKEHOLDERS:
- This report provides a quantitative analysis of the current trends and estimations from 2017 to 2023 of the global starch-based bioplastics market to identify the prevailing market opportunities.
- Major countries in each region are mapped according to individual market revenue.
- Comprehensive analysis of factors that drive and restrict the market growth is provided.
- An in-depth analysis of current research & clinical developments within the market is provided with key dynamic factors.
- Key players and their key developments in the recent years are listed.
KEY MARKET SEGMENTS
Others (Thermoforming and Foaming)
Starch Blended with PLA
Starch Blended with PHA
Others (Starch-based PVOH Blends and PBS)
Agriculture & Horticulture
Electrical & Electronics
Building & Construction
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
The other players in the value chain (profiles not included in the report) are:
Meredian Holdings Group Inc.
*The above list of companies is not profiled in the report, but can be added based on client interest.