LONDON--(BUSINESS WIRE)--Future Market Insights (FMI), in its recent report titled, “Global Bio-plastics – Market Analysis and Opportunity Assessment, 2014 – 2020,” reveals that the global bio-plastics market is estimated to grow at a double-digit CAGR of 28.8% during the forecast period. The global bio-plastics market accounted for US$1.9 Bn in 2014, and is expected to reach US$43.8 Bn by 2020. The global bio-plastics market accounted for 0.1% to the global plastics market in 2014.
Browse Report: http://www.futuremarketinsights.com/reports/details/global-bio-plastics-market
Factors driving the growth of the global bio-plastics market include growing beverage packaging industry, rigid government policies about adopting bio-based materials, and rising consumer acceptance for bio-plastics.
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By material type, the market is segmented as bio-PET, bio-PE, bio-PA, bio-degradable polyesters, PLA & PLA blends, starch blends, PHA and others. Bio-PET market is expected to contribute US$29.1 Bn revenue to the overall bio-plastics market by 2020. Moreover, the bio-PET market is expected to be the fastest growing segment with a CAGR of 31.4% between 2014 and 2020.
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On the basis of application, the global bio-plastics market is segmented as bottlers, other packaging, food-services, agriculture/horticulture, consumer products, automotive and others. Among all the aforementioned applications, the bottles application was valued at US$5.6 Bn in 2014, and is estimated to be the largest contributor in 2020, followed by automotive and other packaging segments. The bottles segment is expected to register a significant CAGR of 35.3% over the forecast period.
Press Release: http://www.futuremarketinsights.com/pressreleases/details/global-bio-plastics-market
Key players in the global bio-plastics market are BASF SE, Arkema, DSM NV, E. I. du Pont de Nemours and Company, Evonik Industries, NaturePlast, NatureWorks LLC, RTP Company, Techno polymer Co. Ltd. and Toray Industries Inc.
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