Production of Biodegradable plastic Products. Bioplastic Products Manufacturing Business. Biodegradable Bags, plates and glasses Manufacturing Project.
India is the third largest plastic consumer in the world, with a total consumption of plastics of about four million tons and a resulting waste production of about two million tons. Bioplastics are those plastic materials that are manufactured by using natural resources.
There are two categories of these plastics available in the market — biodegrable bioplastics and non-biodegradable bioplastics. Demand for bioplastics is increasing since past decade due to growing awareness concerning environmental conservation, use of bio-based or natural resources for manufacturing materials and formulation of various regulations across countries for effective use of natural resources and waste management. Products and solutions based on bioplastics/biopolymers present interesting opportunities globally. Opportunities are present across a variety of industrial sectors that include packaging, water, beverages, insulation materials, specialty materials and more.
- Biodegradable plastics offer reduces carbon dioxide levels.
- Biodegradable plastics can reduce greenhouse gas emission levels.
- Biodegradable plastics are broken down by naturally-occurring bacteria.
- Biodegradable plastics do not release other dangerous items upon decomposition.
- Biodegradable plastics consume less energy during the manufacturing cycle.
- Biodegradable plastics reduce the amount of waste we produce.
- Biodegradable plastics would direct petroleum consumption to other needs.
With a population of 1.252 billion, Indian economy is one of the fastest growing economies of the world and a founding member of SAARC and G4 nations. Some of the largest cities in India are Mumbai, Delhi, Bangalore, Hyderabad, Chennai, Jaipur, Ahmedabad, and Kolkata. The country have low per capita income of USD 1165 and USD 5238 in PPP terms. In emerging economies like India, such concept are new and much related to cost associated with it. The cost of biodegradable plastic are three to ten times more than production of conventional plastic which might hinder the market growth.
However, technological advancement and increasing demand from different sectors such as automobiles, packaging, healthcare, retail and agriculture, will lead to robust demand in Indian biodegradable plastic industry by 2020. Various regulation laid down by government and growing concern for environment will lead to increasing demand for biodegradable plastic in coming years.
The biodegradable plastic bags and sacks market have consolidated landscape owing to increasing strategic business activities. The key players operating in the biodegradable plastic bags and sacks market are trying to provide improved and versatile products. The players are focusing to offer high quality and biodegradable additives so as to gain more shares than other rivals. In addition, several players are indulging in strategic business activities such as mergers and acquisitions to improve their global presence. The increasing dependence of the medical and food industry on environmental-friendly plastic packaging is a notable factor catalyzing the market demand for biodegradable plastics bags and sacks.
The global biodegradable plastics market size to reach USD 6.73 billion by 2025. The starch based segment lead the global biodegradable market. Starch based plastics are used in various applications such as packaging, consumer electronics, agriculture, automotive and textiles The Global Biodegradable Plastic market is primarily driven by a positive attitude of government towards green procurement policies and superior characteristics of biodegradable plastics.
The government of different countries are initiating stringent actions for reducing the use of conventional plastics by implementing taxes on oil-based plastics and disallowing the use of conventional plastics. Rising consumer awareness about global warming and government legislation such as banned on plastic bags will increase the demand for biodegradable plastics across the globe. Plastics that decompose to carbon dioxide and water under the actions of microorganisms is known as biodegradable plastics. Packaging industry is leading segment in application of biodegradable plastics.
Increasing demand of biodegradable plastics as major packaging applications in food & beverage, textiles, pharmaceuticals and consumer goods is augmented to market growth over the forecasted period. Changing lifestyle of consumer along with increase in packaged food products demand in developed regions are boosting the demand for biodegradable plastics in packaging industries. Rising awareness among farmers to build green houses for production of fruits and vegetables has boosted the biodegradable plastics in agriculture application. Growing electronic, medical and automobile industry has also boosted the demand of biodegradable plastics market.
Biodegradable plastics are a billion dollar growing industry that is pushed by the increased regulations and bans against plastic bags, plates , glasses and other single-use plastic items. The demand for biodegradable plastics worldwide is growing as more people become concerned about plastic waste. Consumer awareness of sustainable plastic solutions, government interest in the reduction of greenhouse gas emissions, and a pervasive, general desire to eliminate fossil fuel independence are the reasons for the market growth. Western Europe combines all of these factors and implements biodegradable plastics even in household and business products, such as foam packaging, mulch films, textiles, implants and sutures, down whole tools for oil and gas field operations, 3-D printing filament, etc. Biodegradable plastics is widely used in the packaging & bags industry. It is expected to be the fastest-growing end-use industry segment of the biodegradable plastics market between 2018 and 2023.
Biopac, Natureworks LLC, Stora Enso, Clearwater Paper Corporation, Novamont S.P.A, Georgia-Pacific LLC, Rocktenn, Mondi Group, Smurfit Kappa Group, Kruger Inc. and BASF SE. Metabolix, BASF, Corbion NV, Natureworks, Biome Technologies, Mitsubishi Chemical, Plantic Technologies, Bio-On, Meredian, Tianan Biologic Materials, Mitsui Chemicals, Teijin, Tianjin Guoyun Biological Materials, Toray