Bio plastics and Biopolymers are defined as the type of plastics and polymers which are obtained from renewable biomass source such as vegetable oils and fats, starch corn, technology that has an intrinsic network, intelligent control system and home automation system as its basic components. This technology is equipped with home appliances, digital devices and other components that are interconnected and are accessed with the help of a smart gadget from a far off location. The Bio plastics and Biopolymers market has been segmented by product type, by end user industry and geography.
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In terms of product type the Bio plastics and Biopolymers market has been has been segmented into Bio-PET, Bio-PE, PLA, PHA, Starch Blends, Biodegradable polyster and Regenerated Cellulose among others. Moreover, in terms of end user industry, the Bio plastics and Biopolymers market has been segmented into packaging industry, bottling industry, agricultural industry, automotive industry and consumer products among others. Furthermore, in terms of geography, the Bio plastics and Biopolymers market has been segmented into five geographies namely North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and Latin America.
Increased usage of Bio plastics and Biopolymers as consumer products and increase in investment on agricultural industry by the key vendors across the globe has contributed to the growth of Bio plastics and Biopolymers market. Moreover, the concept of smart cities and smart buildings and connected cities are also going to drive the demand in Bio plastics and Biopolymers market. Due to these concept there is an increase in demand of Bio plastics and Biopolymers for waste and water management and renewable energy management among others. Increased awareness and stringent laws across the globe, has increased the demand of Bio plastics and Biopolymers. Also frequent price fluctuation of petroleum is also contributing to the growth of the Bio plastics and Biopolymers market. Important factor is that this is recyclable, environment friendly and exhibits similar properties as petroleum based PET. Increase in demand of ecofriendly bio based polymer packaging is actually boosting up the growth of Bio plastics and Biopolymers market. Large and smooth distribution network along with strong distribution partner has led to the growth of increase in demand of Bio plastics and Biopolymers market. Rising concern for green environment and environmental safety has compelled the governments of various developed and developing nations to take safety measures which in turn has increased the usage and demand of Bio plastics and Biopolymers market significantly.
By geography, Bio plastics and Biopolymers market has been segmented into five regions as North America, Europe, Asia-Pacific (APAC), South America and Middle East and Africa (MEA). Europe is the dominant segment in the global Bio plastics and Biopolymers market followed by Asia-Pacific and North America. In terms of revenue and market share, Europe leads the market globally. Russia is estimated to witness the highest CAGR in the European market. Expansion of the agriculture and packaging industry and rise of regional players has led to the expansion of the Bio plastics and Biopolymers market. South Korea, China, Japan are expanding consistently in the Bio plastics and Biopolymers market… The U.S. is among the leading contributors to the North America Bio plastics and Biopolymers market.
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The top players in the market include the key players, manufacturers, raw material suppliers and end users in the global Bio plastics and Biopolymers market such as BASF SE, Eastman Chemical Company, Solvay SA, Celanese Corporation, and many others. The manufacturers include various companies such as Braskem SA (Brazil), Corbion NV (Netherlands), BASF SE (Germany), Metabolix Holdings Group Inc. (U.S.), Nature Works LLC (U.S.) and others. The end users include industries such as packaging, agriculture, automotive, consumer products, and many others.