Europe Bioplastics and Biopolymers Market Growth, Share 2023, Latest Trends, Scope, Key Manufacturers, Analysis, Business Opportunity and Forecast till 2033: SPER Market Research
Flexible packaging uses bioplastics since they don’t hurt the environment and some of them degrade quickly. Packaging films for food items, medications, beverage bottles, napkins and tissues, toilet paper, nappies, sanitary towels, cardboard, coat paper for food wrapping paper, and coated cardboards to create cups and plates are all made with them. Additionally, they are utilized in loose-fill and flexible packaging.
According to SPER market research, ‘Europe Bioplastics Market Size – By Product Type, By Application – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Europe Bioplastics Market is predicted to reach USD XX billion by 2033 with a CAGR of 15.37%.
Th growing demand for products manufactured of environmentally friendly plastic packaging will boost the market.
Due to their similar qualities to normal plastics, bioplastics are most commonly used in the packaging industry. The demand from the consumer products, food, electronics, and automotive component industries is driving a sharp expansion in the packaging industry. The need for packaging materials to protect priceless items from damage brought on by moisture and temperature has also increased noticeably. A large amount of packaging materials are anticipated to be required in the near future due to the growth in international e-commerce.
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Growth in the market may be hampered by the higher cost of bioplastics relative to traditional plastics.
Just a few businesses have built the infrastructure necessary to process bioplastics, and the majority of them require high-temperature industrial composting processes to break down. Consequently, bioplastics wind up in landfills where, in the absence of oxygen, they decompose and release methane. Additionally, these plastics need to be disposed of appropriately, as they can damage the feedstock chain of recycled plastics. Therefore, in order to effectively remove bioplastics from the environment, distinct disposal streams are needed, which raises the cost of infrastructure.
Impact of COVID-19 on Europe Bioplastics Market
The COVID-19 pandemic has impacted the European bioplastics industry in a number of ways. Production and distribution were originally delayed as a result of supply chain interruptions brought on by trade and mobility restrictions. This was made worse by the decline in consumer demand brought on by lockdowns, economic volatility, and a change in priorities away from non-essential purchases. But the epidemic also brought attention to the need for environmentally benign and long-lasting solutions, which sparked interest in bioplastics as a potential replacement for conventional plastics. There was a renewed emphasis on sustainability and circular economy initiatives as countries progressively reopened and recovery efforts got underway, which is encouraging for the long-term survival of the European bioplastics industry.
Europe Bioplastics Market Key Players:
Additionally some of the market players are: Arkema, BASF SE, Braskem, Corbion, Danimer Scientific, Dow, Kaneka Corporation, Futerro, Maccaferri Industrial Group.
Europe Bioplastics Market Segmentation:
By Product Type: Based on the Product Type, Europe Bioplastics Market is segmented as; Bio-based Biodegradables, Bio-based Non-biodegradables.
By Application: Based on the Application, Europe Bioplastics Market is segmented as; Flexible Pakaging, Rigid Packaging, Automotive and Assembly Operations, Agriculture and Horticulture, Construction, Textiles, Electrical and Electronics, Others.
By Region: This research also includes data for Germany, Australia, Switzerland, France, Great Britain, Spain, Italy.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
Europe Bioplastics and Biopolymers Market Growth Drivers
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