DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/c6tctx/global) has announced the addition of the "Global Bioplastics Market 2014-2018" report to their offering.
The Global Bioplastics market to grow at a CAGR of 22.4% over the period 2013-2018
Bioplastics are a type a biodegradable plastic derived from renewable sources such as vegetable oil, potatoes, rice, tapioca, pea starch, corn starch, wheat and other grains, sugar cane, and cellulose from wood strands. They are also known as organic plastics because they are derived from sustainable sources.
There are different types of bioplastics: polymers that are directly extracted from biomass and processed; polymers that are made of bio-based precursors (polylactic acid or PLA); and polymers by bacteria (PHA and PHBs). Bioplastics are different from conventional plastics and can be used in the manufacturing of various products such as tools, bags, beds, furniture, carpets, films, bottles, cups, and other packaging materials. Further, they can reduce CO2 emissions by 30-70 percent in comparison with conventional plastics.
One of the major trends observed in the market is the presence of an alternative production technology. Market vendors are heavily investing in the use of algae for bioplastics production. The composition of algae contains a significant amount of oil, which helps in developing bioplastics. Several companies have adopted the use of algae as raw materials to manufacture bioplastics because of its wide availability.
According to the report, the availability of a wide variety of feedstock for bioplastics is one of the major factors driving the market. The introduction of various renewable sources such as vegetable fat, vegetable oil, microbiota, and pea starch has widened the range of feedstock available for the production of bioplastics.
Further, the report states that the increase in the cost of production is one key challenge that the market faces. High installation costs and expensive feedstock increase the cost of production. Many vendors have incurred losses because of the non-competitive production cost of bioplastics.
The Global Bioplastics market can be segmented into five segments:
- Packaging and Consumer Goods
- Horticulture and Agriculture
- Medical Application
- Automotive and Electronics
- Plantic Technologies
For more information visit http://www.researchandmarkets.com/research/c6tctx/global