Asia Pacific Bioplastics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Biodegradable and Non-Biodegradable) and Application (Packaging, Agriculture, Consumer Goods, Automotive & Transportation, Textiles, Building & Construction, and Others)
The bioplastics market in APAC is expected to grow from US$ 2,114.22 million in 2021 to US$ 5,321.06 million by 2028; it is estimated to grow at a CAGR of 12.9% from 2021 to 2028.
Plastic pollution has become one of the most crucial environmental issues and has a negative impact on oceans and wildlife. When thrown in landfills, conventional plastics find their way into water bodies and oceans. They may be mistaken as food by aquatic animals, which leads to detrimental effects of aquatic ecosystems. Conventional plastics are also harmful to humans, animals, plants, and environment since they are not readily degradable and take ~700 years for degradation. Further, these plastics are produced from toxic materials such as benzene and vinyl hydrochloride, which may cause cancer among humans, while the manufacturing byproducts contaminate air and soil. Phthalates are among other toxic chemicals added to plastics to make them softer and more pliable. Phthalates are harmful to endocrine glands and cause congenital disabilities and other health problems. On contrary, bioplastics break down naturally through composting or biodegradation, and many bioplastic polymers help reduce carbon footprint. Common bioplastics, such as starch-based polybioplastics (PLA) and polyhydroxybutyrate (PHB) are nontoxic. This makes them ideal for food packaging as they don’t contaminate food with any unnecessary taste, nor cause leeching of chemicals such as BPAs, unlike the case with some oil-based plastics.
Plastic pollution is most visible in Asian countries, where garbage collection systems are inefficient or nonexistent. However, developed countries, especially with low recycling rates, also face problems in properly collecting discarded plastics. Consequently, to lessen traditional plastic waste, governing bodies from many countries are imposing bans and enforcing innovative recycling practices. Thus, with the growing plastic pollution, governments across the world are implementing stringent laws and regulations on traditional plastic use, which is considered to create lucrative growth opportunities for the bioplastics market players.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC bioplastics market. at a notable CAGR during the forecast period.
APAC Bioplastics Market Revenue and Forecast to 2028 (US$ Million)
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APAC Bioplastics Market Segmentation
The APAC bioplastics market is segmented into type, application, and country. Based on type, the market is segmented into biodegradable and non-biodegradable. The biodegradable segment held the larger market share in 2020. Based on application, the APAC bioplastics market has been divided into packaging, agriculture, consumer goods, automotive & transportation, textiles, building & construction, and others. The packaging segment held the largest market share in 2020. Based on country, the APAC bioplastics market is segmented into Australia, China, India, Japan, South Korea, and rest of APAC. Furthermore, Basf SE; Biome Bioplastics; Braskem S.A.; Mitsubishi Chemical Corporation; Sabic; Teijin Limited; Toray Industries, Inc.; and Total Corbion PLA are among the leading companies in the APAC bioplastics market.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection
3.2.2 Primary Interviews
3.2.3 Hypothesis Formulation
3.2.4 Macro-economic Factor Analysis
3.2.5 Developing Base Number
3.2.6 Data Triangulation
3.2.7 Country-Level Data
4. APAC Bioplastics Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. APAC Bioplastics Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Vast Application Scope of Bioplastics
5.1.2 Rising Popularity of Eco-Friendly Plastics in the Packaging Industry
5.2 Market Restraints
5.2.1 Higher Prices and Shorter Lifetime of Bioplastics than Traditional Plastics
5.3 Market Opportunities
5.3.1 Government Laws & Regulations on Traditional Plastic Use Being Very Strict
5.4 Future Trends
5.4.1 Innovations and Technology Advancement Getting Popular
5.5 Impact Analysis of Drivers and Restraints
6. Bioplastics Market– APAC Analysis
6.1 Market Overview
6.2 APAC Bioplastics Market –Revenue and Forecast To 2028 (US$ Million)
7. APAC Bioplastics Market Analysis – By Type
7.1 Overview
7.2 APAC Bioplastics Market Breakdown, by Type, 2020 & 2028
7.3 Biodegradable
7.3.1 Overview
7.3.2 Biodegradable: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Non-Biodegradable
7.4.1 Overview
7.4.2 Non-Biodegradable: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
8. APAC Bioplastics Market Analysis – By Application
8.1 Overview
8.2 APAC Bioplastics Market Breakdown, by Application, 2020 & 2028
8.3 Packaging
8.3.1 Overview
8.3.2 Packaging: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Agriculture
8.4.1 Overview
8.4.2 Agriculture: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Consumer Goods
8.5.1 Overview
8.5.2 Consumer Goods: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Automotive and Transportation
8.6.1 Overview
8.6.2 Automotive and Transportation: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
8.7 Textiles
8.7.1 Overview
8.7.2 Textiles: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
8.8 Building and Construction
8.8.1 Overview
8.8.2 Building and Construction: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
8.9 Others
8.9.1 Overview
8.9.2 Others: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
9. APAC Bioplastics Market –Country Analysis
9.1 Overview
9.1.1 Asia Pacific: Bioplastics Market, by Key Country
9.1.1.1 Australia: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 Australia: Bioplastics Market, By Type
9.1.1.1.2 Australia: Bioplastics Market, by Application
9.1.1.2 China: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 China: Bioplastics Market, By Type
9.1.1.2.2 China: Bioplastics Market, by Application
9.1.1.3 India: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 India: Bioplastics Market, By Type
9.1.1.3.2 India: Bioplastics Market, by Application
9.1.1.4 Japan: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.4.1 Japan: Bioplastics Market, By Type
9.1.1.4.2 Japan: Bioplastics Market, by Application
9.1.1.5 South Korea: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.5.1 South Korea: Bioplastics Market, By Type
9.1.1.5.2 South Korea: Bioplastics Market, by Application
9.1.1.6 Rest of Asia Pacific: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.6.1 Rest of Asia Pacific: Bioplastics Market, By Type
9.1.1.6.2 Rest of Asia Pacific: Bioplastics Market, by Application
10. Company Profiles
10.1 Teijin Limited
10.1.1 Key Facts
10.1.2 Business Description
10.1.3 Products and Services
10.1.4 Financial Overview
10.1.5 SWOT Analysis
10.1.6 Key Developments
10.2 TORAY INDUSTRIES, INC.
10.2.1 Key Facts
10.2.2 Business Description
10.2.3 Products and Services
10.2.4 Financial Overview
10.2.5 SWOT Analysis
10.2.6 Key Developments
10.3 SABIC
10.3.1 Key Facts
10.3.2 Business Description
10.3.3 Products and Services
10.3.4 Financial Overview
10.3.5 SWOT Analysis
10.3.6 Key Developments
10.4 BASF SE
10.4.1 Key Facts
10.4.2 Business Description
10.4.3 Products and Services
10.4.4 Financial Overview
10.4.5 SWOT Analysis
10.4.6 Key Developments
10.5 Total Corbion PLA
10.5.1 Key Facts
10.5.2 Business Description
10.5.3 Products and Services
10.5.4 Financial Overview
10.5.5 SWOT Analysis
10.5.6 Key Developments
10.6 Braskem S.A.
10.6.1 Key Facts
10.6.2 Business Description
10.6.3 Products and Services
10.6.4 Financial Overview
10.6.5 SWOT Analysis
10.6.6 Key Developments
10.7 Biome Bioplastics
10.7.1 Key Facts
10.7.2 Business Description
10.7.3 Products and Services
10.7.4 Financial Overview
10.7.5 SWOT Analysis
10.7.6 Key Developments
10.8 Mitsubishi Chemical Corporation
10.8.1 Key Facts
10.8.2 Business Description
10.8.3 Products and Services
10.8.4 Financial Overview
10.8.5 SWOT Analysis
10.8.6 Key Developments
11. Appendix
11.1 About The Insight Partners
11.2 Word Index
LIST OF TABLES
Table 1. APAC Bioplastics Market –Revenue and Forecast To 2028 (US$ Million)
Table 2. Australia Bioplastics Market, By Type– Revenue and Forecast to 2028 (US$ Million)
Table 3. Australia Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 4. China Bioplastics Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 5. China Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 6. India Bioplastics Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 7. India Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 8. Japan Bioplastics Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 9. Japan Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 10. South Korea Bioplastics Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 11. South Korea Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 12. Rest of Asia Pacific Bioplastics Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 13. Rest of Asia Pacific Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 14. List of Abbreviation
LIST OF FIGURES
Figure 1. APAC Bioplastics Market Segmentation
Figure 2. APAC Bioplastics Market Segmentation – By Country
Figure 3. APAC Bioplastics Market Overview
Figure 4. Biodegradable Segment Held Largest Share of APAC Bioplastics Market
Figure 5. China Region Held Largest Share of APAC Bioplastics Market
Figure 6. Porter's Five Forces Analysis
Figure 7. Ecosystem: APAC Bioplastics Market
Figure 8. Expert Opinion
Figure 9. APAC Bioplastics Market Impact Analysis of Drivers and Restraints
Figure 10. APAC Bioplastics Market – Revenue and Forecast To 2028 (US$ Million)
Figure 11. APAC Bioplastics Market Breakdown, by Type, 2020 & 2028
Figure 12. APAC Biodegradable: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. APAC Non-Biodegradable: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. APAC Bioplastics Market Breakdown, by Application, 2020 & 2028
Figure 15. APAC Packaging: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. APAC Agriculture: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. APAC Consumer Goods: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. APAC Automotive and Transportation: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. APAC Textiles: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. APAC Building and Construction: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. APAC Others: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Asia Pacific: Bioplastics Market, by Key Country – Revenue (2020) (US$ Million)
Figure 23. Asia Pacific: Bioplastics Market Revenue Share, by Key Country (2020 and 2028)
Figure 24. Australia: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)
Figure 25. China: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)
Figure 26. India: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)
Figure 27. Japan: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)
Figure 28. South Korea: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)
Figure 29. Rest of Asia Pacific: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)
- Basf SE
- Biome Bioplastics
- Braskem S.A.
- Mitsubishi Chemical Corporation
- Sabic; Teijin Limited
- Toray Industries, Inc.
- Total Corbion PLA
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the APAC bioplastics market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the APAC bioplastics market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth APAC market trends and outlook coupled with the factors driving the bioplastics market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution