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Asia Pacific (APAC) Bioplastics Market - Forecasts from 2022 to 2027

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  • 109 Pages
  • May 2022
  • Region: Asia Pacific
  • Knowledge Sourcing Intelligence LLP
  • ID: 5602478
Bioplastics can be created entirely or partially from sustainable biomass sources like sugarcane and corn, as well as microbes like yeast. Under the correct circumstances, some bioplastics are biodegradable or even compostable. Bioplastics manufactured from renewable resources can be spontaneously recycled by biological processes, reducing fossil fuel consumption and conserving the environment. As a result, bioplastics are long-lasting, mostly biodegradable, and biocompatible. Government initiatives that encourage the use of bioplastics are fueling the region's bioplastics market expansion. Moreover, the growing number of prohibitions on traditional plastics is proving to be a primary driver of this market's growth. Because most Asian countries, such as China, India, Bangladesh, and others, are concerned about the environment, businesses are turning to bioplastics, which helps them achieve a larger consumer market share. As a result, the Asia-Pacific bioplastics market is expanding.

The demand from the packaging industry, coupled with favorable government regulations, is expected to drive the market for bioplastics in the Asia Pacific.

Due to rising demand from nations such as China, India, South Korea, and Japan, the packaging business in Asia-Pacific is expanding. The majority of bioplastics utilized in China are used in packaging.

The packaging business has seen tremendous expansion as a result of rising consumer demand for flexible packaging and the adoption of various technological breakthroughs in packaging.

Bans on traditional plastics in several countries, technological and regulatory backing, and the business environment are some factors driving the market forward. China, for instance, implemented a plastic ban in January 2021, prohibiting restaurants across the country from utilizing single-use plastic straws and businesses in key cities from using plastic shopping bags. These are some of the restrictions on the manufacture, marketing, and use of single-use plastic products outlined in a policy paper released jointly by the National Development and Reform Commission and the Environmental Protection Agency (NDRC), and the Ministry of Ecology and Environment on January 2020. In addition, China's Law on the Prevention and Control of Environmental Pollution Caused by Solid Waste (Solid Waste Law) was recently revised, and it went into force in September 2020. Local governments may fine violators of the state's prohibitions on the use of nondegradable plastic bags and other single-use plastic products between 10,000 and 100,000 yuan under this regulation. Similarly, following its 2019 resolution to fight plastic pollution in India, the central government announced the ban in August 2021. From July 1, 2022, most single-use plastics will be prohibited.

Moreover, a High Court judgment was issued in 2020, prohibiting the use of single-use plastic in coastal areas as well as all hotels and motels in Bangladesh. The 8th Five-Year Plan also emphasizes better solid waste management in cities. Bangladesh's government has prepared a draft multi-sectoral action plan for sustainable plastics management with the help of the World Bank. According to provisions of the rule released by the environment and industry ministries, retailers and restaurants in Japan will be compelled to restrict the usage of 12 types of disposable plastic products starting April 2022.

These restrictions, together with consumers' preference for environmentally friendly products, have led a considerable number of firms to develop bioplastic factories, resulting in a significant increase in the region's bioplastic market. According to BOI data, the Thailand Board of Investment has approved 15 bioplastics production projects totaling 16.1 billion baht in investment value during the last four years. In October 2019, Polymateria, a British company developing a new biodegradable and compostable plastics standard, announced cooperation with Clariant, one of the world's top specialty chemical firms, to bring its Biotransformation technology to market in Southeast Asia.

By country, China is expected to hold a significant share in the Asia Pacific bioplastics market during the forecast period.

Companies are ramping up biodegradable plastic production due to government bans against single-use plastic packaging. Biodegradable plastics derived from agricultural sources such as corn and sugar cane are gaining traction as a viable alternative to petroleum-based products. For instance, BBCA, a provider of lactic acids used in food additives, opened a plant capable of manufacturing 50,000 tonnes of polylactic acid (PLA) polymers per year in August 2020 and broke ground on a second unit in December 2020. By 2023, the company hopes to generate 700,000 tonnes of PLA per year. Similarly, in September 2020, Thyssenkrupp AG announced the construction of a second bioplastics plant in China. The new factory will be used to make eco-friendly packaging, fibers, textiles, and engineering plastics, among other things. The growth in the packaging industry in the country will further boost the market for bioplastics during the forecast period. For example, China, behind the United States, is the second-largest sales market for German packaging machinery, according to VDMA.

COVID-19 Insights

The pandemic had a mixed influence on the market for bioplastics in the Asia Pacific. The packaging industry was positively impacted by the COVID-19 outbreak as demand for flexible packaging for food, beverage, and pharmaceutical uses for product packaging rose. This supported the growth of the bioplastics market in this industry. However, other sectors such as construction, automotive, and more witnessed a slowdown due to disruptions in the supply chain and containment measures by the governments in response to the pandemic.

Market Segmentation:

By Type

  • Bio-based Biodegradable Bioplastic
  • PLA
  • PHA
  • Starch Blends
  • Others
  • Bio-based Non-biodegradable Bioplastic
  • PE
  • PET
  • PA
  • PTT
  • Fossil-based Biodegradable Bioplastic
  • PBAT
  • PCL

By End-User Industry

  • Packaging
  • Construction
  • Textile
  • Electrical and Electronics
  • Automotive
  • Others

By Country

  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Taiwan
  • Indonesia
  • Others

Table of Contents

1.1. Market Definition
1.2. Market Segmentation
2.1. Research Data
2.2. Assumptions
3.1. Research Highlights
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter's Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Powers of Buyers
4.3.3. Threat of Substitutes
4.3.4. Threat of New Entrants
4.3.5. Competitive Rivalry in Industry
4.4. Industry Value Chain Analysis
5.1. Introduction
5.2. Bio-based Biodegradable Bioplastic
5.2.1. PLA
5.2.2. PHA
5.2.3. Starch Blends
5.2.4. Others
5.3. Bio-based Non-biodegradable Bioplastic
5.3.1. PE
5.3.2. PET
5.3.3. PA
5.3.4. PTT
5.4. Fossil-based Biodegradable Bioplastic
5.4.1. PBAT
5.4.2. PCL
6.1. Introduction
6.2. Packaging
6.3. Construction
6.4. Textile
6.5. Electrical and Electronics
6.6. Automotive
6.7. Others
7.1. Introduction
7.2. China
7.3. Japan
7.4. South Korea
7.5. India
7.6. Thailand
7.7. Taiwan
7.8. Indonesia
7.9. Others
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisition, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9.1. NatureWorks LLC
9.2. Corbion
9.3. BASF
9.4. Braskem
9.5. Novamont S.p.A.
9.6. Cardia Bioplastics
9.7. Showa Denko KK
9.8. Amcor Limited
9.9. Taghleef Industries
9.10. Arkema SA

Companies Mentioned

  • NatureWorks LLC
  • Corbion
  • BASF
  • Braskem
  • Novamont S.p.A.
  • Cardia Bioplastics
  • Showa Denko KK
  • Amcor Limited
  • Taghleef Industries
  • Arkema SA



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