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Global Bio-based Plastics Market
Frost & Sullivan, Dec 2009, Pages: 106
This research service analyses the key trends, market drivers, challenges and future forecasts for the global bio-based plastics market. It discusses in detail the trends in both the conventional bio-based plastics such as PHA, PLA and starch based plastics as well as the immense growth in newer product types such as bio-based commodity plastics and technical advances made in bio-based engineering plastics.
This Frost & Sullivan research service titled Global Bio-based Plastics Market provides the market volumes and market revenues by major plastic types and end-application area. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets by product type: polylactic acid (PLA), polyhydroxyalkanoates (PHA), starch-based plastics, bio-based engineering plastics and bio-based commodity plastics. The applications covered in this research service are packaging, automotive, electronics and personal care.
Market Overview
Innovation and Product Development Continue to Boost Bio-based Plastics into New Applications
Enhancements in product performance and an expanding product range are driving bio-based plastics into new and high-growth applications, despite the economic downturn and price sensitivity of end users. The global bio-based plastics market has reached a critical juncture in its growth phase, with a large number of companies currently focused on successfully making the transition from laboratory and pilot scale to full-fledged commercialisation. 'The move towards sustainability in key end-user markets for plastics will continue to drive the demand for sustainable bio-based plastics,' notes the analyst of this research. 'The ever increasing product mix in bio-based plastics will ensure that a wide range of applications are made available for bio-based plastics to capitalise on.'
Plastics are expanding into newer areas that were traditionally catered to by engineering plastics such as polybutylene terephthalate (PBT) and acrylonitrile-butadiene-styrene (ABS). This has been made possible by significant improvements in the production methods and additives in bio-based plastics, thereby opening up new avenues for bio-based plastics to grow in. The development in bio-based commodity and technical plastics will pave the way for bioplastics to expand into two different ends of the performance scale. While bio-based commodity plastics will accelerate the growth of bioplastics in packaging and similar applications, the growth in technical bio-based plastics will enable expansion into automotive, electronic and consumer goods applications.
Partnership with Key Market Participants Critical for Long-term Growth
The main challenges to be faced by the bio-based plastics market in the short term will come from the impact of the economic slump, which will make funding of major project expansions complex. However, in the long term, the challenges are more structural such as enhancing the recycling infrastructure as well as technical properties for bioplastics. 'The recession has seen some of the major expansion and market entry projects suffer setbacks,' explains the analyst. 'Although, sufficient capacity is currently available for most of the bio-based plastic types, future market growth will mainly depend on crucial capacity additions taking place according to schedule.'
Partnership with key market participants will be critical to long-term success in the rapidly growing bio-based plastics market. For example, partnership with major chemical companies will ensure that bio-based plastic producers with a predominantly agricultural background will gain rapid access to critical technology and market development capabilities. 'Bio-plastic suppliers should focus on improving product performance and the depth of their product range if they are to succeed in the rapidly evolving markets for bio-based plastics,' concludes the analyst. 'End users need to be made aware of the various alternatives available in bio-based plastics, with a clear definition of the performance and end-of-life characteristics of each of these bio-based plastics.'
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
By Product Type:
- Polylactic acid (PLA)
- Polyhydroxyalkanoates (PHA)
- Starch-based plastics
- Bio-based engineering plastics
- Bio-based commodity plastics
By Applications
- Packaging
- Automotive
- Electronics
- Personal care
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