DUBLIN--(BUSINESS WIRE)--The "Europe Bioplastic Market - Segmented by Origin, Product Type, Application and Geography - Growth, Trends and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The European Bioplastics market is estimated to grow significantly at a CAGR of 26.07% during the forecast period 2018-2023.
Due to surging environmental regulations and government initiatives of growing awareness, the consumers are increasingly shifting towards bio-based plastics. Increasing number of bans on traditional plastics proves to be the major driver for growth of this market.
Europe, a large market of plastic globally, about 55% of the demand for plastics is from the packaging industry. This high consumption of plastics has led to the use of bioplastics and replacing plastic materials that are toxic in nature. Currently, in Europe, the packaging market is among the highest applications of bioplastic materials, with increasing demand by consumers. There is a high demand for packaging made from bioplastics to be used for wrapping organic food.
Germany is one of the major economies in Europe and the bioplastics consumption market has increased at the fastest rate in the country. The packaging industry in Germany is among the highest usages of bioplastics in Europe, and regulations by the Government have driven the market. Germany is one of the first countries to provide certification of biodegradable plastics by DIN CERTCO. The demand for bioplastics in the automotive sector has also increased with most of the companies following the REACH regulations to have lightweight vehicles and lower emission rates. Germany has developed fair computer mouse' project, which will provide sustainable products. This is expected to be a major boost in the IT sector for the usage of bioplastic products.
- API S.P.A
- Bioapply polymers
- Green day Eco Friendly Material C. ltd
- Kaneka Corporation
- Danimer Scientific
- Metbolix Inc
- Mitsubishi chemical Corporation
- Natureworks LLC
- Maccaferri Industrial Group
- Showa Denko
- Solvay SA
- Toray International Inc.
Key Topics Covered:
2. Executive Summary
3. Market Insights
4. Market Dynamics
5. Market Segmentation and Analysis
6. Regional Market Analysis
7. Competitive Landscape
8. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/8hkffs/europe_bioplastic?w=4