Bioplastics in India Market: Market Research by Knowledge Sourcing Intelligence


Bioplastics in India Market: Packaging Application Hold a Significant Market Share


Introduction

Bioplastics are the plastics that are manufactured from biomass sources including corn starch, vegetable fats, and oils. They are extensively used in both disposable, and non-disposable items. Disposable items include crockery, pots, and straws, while the non-disposable items include fibers, plastic piping, and insulation car interiors among others. The overall impact on the environment due to the use of bioplastics is significantly lower than that of conventional plastics, so these are considered to be eco-friendly that is increasing the bioplastics in India market size.


Drivers and restraints of Bioplastics in India Market

The bioplastics in India market growth is driven by favorable government regulations. For instance, the Indian Government has proposed a plan to ban the use of single-use plastic throughout the country. This will augment the demand for bioplastics in India. Also, the notification in Plastic Waste Management Rules, 2016 on non-compostable plastic bags is an important regulation contributing to market growth. The bioplastics in India market trend in India is expected to be positive on account of the rising environmental concern regarding the pollution caused by plastics. Furthermore, the wide utilization of bioplastics by various industry verticals such as construction, textiles, and automotive among others is also contributing to the increasing demand for bioplastics. However, the lack of awareness among the consumers and high cost as compared to its alternative due to the increasing cost of raw material may act as a restraining factor for the growth of the market. Poor waste processing infrastructure in India may also hamper the growth of the market.

Market Segmentation
According to supply chain studies, conducted by Knowledge Sourcing Intelligence, the bioplastics in India market is segmented by type and application. By type, the market is segmented into biodegradable bioplastics and non-biodegradable bioplastics. Biodegradable plastic is further segmented into polyester, polylactic acid (PLA), polyhydroxyalkanoate (PHA), starch blends, and others. The non-biodegradable plastic segment is further segmented into bio-PE (polyethylene), bio-PET (polythene terephthalate), bio-PA (polyamide), and others. Bio-PET is projected to hold a significant share of bioplastics in India market share and is also expected to grow at a rapid rate. By application, the market is segmented into construction, packaging, agriculture, textile, automotive, FMCG, and others. The packaging segment is expected to have a significant market share owing to the rising demand for disposable cups, bottles, and bags.

According to competitive intelligence of the Knowledge Sourcing Intelligence, the bioplastics in India market is fragmented with hundreds of manufacturers. The players are expanding globally to mirror their customers’ requirements. As a result, they are increasingly integrating with other players. The key players include BASF, Corbion, NatureWorks LLC and Braskem, Novamont S.p.A, and Cardia Bioplastics among others.

Key Questions Answered in This Report:

  • What are the key regions having a significant market share?
  • What are the drivers and restraints of the market?
  • Who are the key market players in the market?
  • What is the market segmentation of the bioplastics in India market?
  • What are the applications of the market?

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