Global Bioplastics Market

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $4,500	165 Pages	Koncept Analytics	November, 2023	KOAN18283379

Best Price Guarantee
Price	from $4,500
Length	165 Pages
Publisher	Koncept Analytics
Published Date	November, 2023
SKU	KOAN18283379

Global Bioplastics Market (by Production Capacity, Type, Application, & Region): Insights and Forecast with Potential Impact of COVID-19 (2022-2027)

Market Insight:

Bioplastics are plastics made from renewable biomass sources such as plant fats and oils, maize starch, straw, woodchips, sawdust, and recovered food waste. Bioplastics are plastic materials that are either bio-based, biodegradable, or have both properties.

While global plastic production has decreased, the market for bioplastics has expanded. Furthermore, rising demand for bioplastics in the medical sector, technological advancements, and increased R&D would drive market growth. The global bioplastics market is expected to reach US$10.61 billion by 2023, growing at a CAGR of 14.21% over the projected period.

Segment Covered:

By Type: In terms of type, the report offers insights of the global bioplastics market into two segments: Biodegradable, and Non-Biodegradable. In terms of value and production capacity, the biodegradable segment held the maximum share of the market. The biodegradable segment’s production capacity has been further analyzed based on type: PLA, Starch blends, PBAT, PHA, and Others. Similarly, the non-biodegradable segment’s production capacity has been also analyzed based on the following types: PTT, PE, PA, PET, PP, and Other. Polylactic acid (PLA) is among the world’s most widely used bioplastics, which are plastics derived from renewable inputs and/or are biodegradable.
By Application: On the basis of application, the report provides the segmentation of the global bioplastics market as follows: Flexible Packaging, Rigid Packaging, Textiles, Consumer Goods, Agriculture & Horticulture, Coating & Adhesives, and Others. The flexible packaging segment held the highest share of the market owing to its high efficiency and cost-effective nature. In terms of production capacity, the agriculture & horticulture segment is expected to be the fastest growing in the upcoming years.

Geographic Coverage:

According to this report, the global bioplastics market can be divided into four regions: Asia Pacific, Europe, North America, and the Rest of the World. The countries covered in North America region are the US, Canada, and Mexico, while Europe includes the UK, Germany, France, UK, and Rest of Europe. Moreover, China, Japan, India, and Rest of Asia Pacific are included in the Asia Pacific region.

Asia Pacific held the largest share in the market and over the years, the Asia Pacific bioplastics market has grown at a fast pace due to the increasing demand from the packaging industry, coupled with favorable government regulations. In terms of value and production capacity, China held the highest share in the market owing to the high per capita consumption, increasing consumer preference for bio-based products over synthetic products, and increase in government initiatives. Germany is one of the major economies in Europe, and the bioplastics market has grown at the fastest rate in the country. Germany already supports the use of certified bio-based and compostable bio waste plastic bags for the collection of bio waste in the Bio waste Ordinance. Since 2015, a separate collection of bio waste is mandatory in Germany. The Government of Canada continues to encourage alternatives to plastic waste. They are working towards eliminating the unnecessary use of single-use plastics in government operations, meetings, and events, and purchasing more sustainable plastic products that can be reused, repaired, or repurposed.

Top Impacting Factors:

Growth Drivers

Increasing Fossil Fuel Prices
Increasing Demand for Eco-Friendly Goods
Emergence of Bio-based and Renewable Raw Materials
Reduced Greenhouse Gas Emissions

Challenges

High Cost Associated
Limited Regulations Related to Bioplastics in Developing Countries

Trends

Increasing Demand for Electronic vehicles
Growing Demand of Bioplastics in Medical Sector
Technological Advancements
Increasing Research and Development
Driver: Increasing Fossil Fuel Prices

The bioplastics industry experienced a boom as fossil fuel-based virgin plastics face sharp price rises and material shortages due to COVID-19 disruptions, economic inflation, and political conflict. With fossil fuel prices being at historic highs, bioplastics became economically more attractive. The bioplastics industry relies more on renewable plant-based resources rather than on fossil fuels. The bioplastic industry, therefore, supports the stability of prices by disconnecting from the price of oil and gas and also supports a much greater cause of removing one’s dependency on depleting resources with a significant environmental and human health toll. The increase in fossil fuel prices is, therefore, increasing the demand for the bioplastics market.

Challenge: High Cost Associated

The market for bioplastics has been associated with high costs. It is difficult to persuade plastic manufacturers to convert to bioplastic for their products and packaging without financial incentives because bioplastic is more costly to produce than conventional plastic. Due to expensive raw ingredients, sustainable products are frequently more expensive than traditional products. To create a product with a minimal environmental effect, certain premium raw ingredients are required. Considering that they are produced in lower quantities, these raw materials are more expensive. Currently, bioplastics are more than twice as expensive as traditional plastics made from petroleum. This is mostly caused by the expensive R&D, building a polymer factory, and raw material costs when the production scale is still small. Hence, these factors may restrain the growth of the market.

Trend: Increasing Research and Development

Bio-plastics are rapidly growing in popularity, and many new techniques and approaches are emerging as a result of intensive research and development (R&D) activities. The research and development activities are tightly focused on tackling the intrinsic synthesis of bioplastics that currently keeps costs high and limits performance. Several bioplastic materials (polylactide, polyhydroxyalkanoates, and starch) have been successfully converted into food packaging using conventional plastic conversion technologies including extrusion, injection molding, and compression molding. Recently, bioplastic packaging has been developed into active packaging which can either control the release of active ingredients or scavenge undesirable substances. Hence, the research and development in bioplastics is increasing, which, in turn, is anticipated to increase the bioplastics market.

The COVID-19 Analysis:

In 2020, global bioplastics have experienced negative growth. Numerous multinational corporations made commitments to use biodegradable plastics in response to consumer and activist pressure before the COVID-19 pandemic. However, after the COVID-19 outbreak, the regulations on single-use plastics and green investments announced by many governments and organizations got postponed due to the pandemic, resulting in a reduction in the uptake of bio-based alternatives. However, as the lockdown eased, the market witnessed significant growth. Moreover, as people become more aware of the expanding plastic waste stream and its effects on the environment, the private and public sectors are anticipated to invest more funding to speed up the use of bioplastics.

Analysis of Key Players:

The global bioplastics market is consolidated. The key players in the global bioplastics market are:

BASF SE
Avantium N.V.
Toray Industries Inc.
Biome Technologies PLC
Carbion N.V.
Futerro, NatureWorks LLC
Kuraray Co., Ltd (Plantic Technologies Ltd.)
Eastman Chemical Company
Mitsubishi Chemical Group
Novamont S.p.A.
PTT MCC Biochem Co. Ltd.

Some of the strategies among key players in the market are mergers, acquisitions, and collaborations. For instance, in 2022, Avantium N.V. announced that the company’s business unit Avantium Catalysis would expand the company’s business to focus increasingly on R&D solutions for sustainable chemistry. On the other hand, Toray Industries, Inc., announced that the company has developed a polyethylene terephthalate (PET) film that combines excellent applicability and adhesion for water-based and solvent-free coatings and can eliminate solvent-derived carbon-dioxide emissions. In the global bioplastics market, TEIJIN Limited held the major share of the market, followed by BASF SE and SABIC.

1. Executive Summary 2. Introduction 2.1 Bioplastics: An Overview 2.1.1 Introduction to Bioplastics 2.1.2 Advantages of Bioplastics 2.2 Bioplastics Segmentation: An Analysis 2.2.1 Bioplastics Segmentation Table 1: Bioplastics Segmentation 3. Global Market Analysis 3.1 Global Bioplastics Market: An Analysis 3.1.1 Global Bioplastics Market: An Overview 3.1.2 Global Bioplastics Market by Value Table 2: Global Bioplastics Market by Value; 2017-2021 (US$ Billion) Table 3: Global Bioplastics Market by Value; 2022-2027 (US$ Billion) 3.1.3 Global Bioplastics Market by Type (Biodegradable, and Non-Biodegradable) Table 4: Global Bioplastics Market by Type; 2021 (Percentage, %) 3.1.4 Global Bioplastics Market by Application (Flexible Packaging, Rigid Packaging, Textiles, Consumer Goods, Agriculture & Horticulture, Coating & Adhesives, and Others) Table 5: Global Bioplastics Market by Application; 2021 (Percentage, %) 3.1.5 Global Bioplastics Market by Region (Asia Pacific, Europe, North America, and the Rest of the World) Table 6: Global Bioplastics Market by Region; 2021 (Percentage, %) 3.2 Global Bioplastics Market: Production Capacity Analysis 3.2.1 Global Bioplastics Market by Production Capacity: An Overview 3.2.2 Global Bioplastics Market by Production Capacity Table 7: Global Bioplastics Market by Production Capacity; 2020-2021 (Thousand Tonnes) Table 8: Global Bioplastics Market by Production Capacity; 2022-2027 (Thousand Tonnes) 3.2.3 Global Bioplastics Market Production Capacity by Type (Biodegradable, and Non-Biodegradable) Table 9: Global Bioplastics Market Production Capacity by Type; 2021 (Percentage, %) 3.2.4 Global Bioplastics Market Production Capacity by Application (Flexible Packaging, Rigid Packaging, Consumer Goods, Textiles, Agriculture & Horticulture, Coating & Adhesives, and Other) Table 10: Global Bioplastics Market Production Capacity by Application; 2021 (Percentage, %) 3.2.5 Global Bioplastics Market Production Capacity by Region (Asia Pacific, Europe, North America, and Rest of the World) Table 11: Global Bioplastics Market Production Capacity by Region; 2021 (Percentage, %) 3.3 Global Bioplastics Market: Type Analysis 3.3.1 Global Bioplastics Market by Type: An Overview 3.3.2 Global Biodegradable Bioplastics Market by Value Table 12: Global Biodegradable Bioplastics Market by Value; 2017-2021 (US$ Billion) Table 13: Global Biodegradable Bioplastics Market by Value; 2022-2027 (US$ Billion) 3.3.3 Global Biodegradable Bioplastics Market by Production Capacity Table 14: Global Biodegradable Bioplastics Market by Production Capacity; 2020-2021 (Thousand Tonnes) Table 15: Global Biodegradable Bioplastics Market by Production Capacity; 2022-2027 (Thousand Tonnes) 3.3.4 Global Biodegradable Bioplastics Market Production Capacity by Type (Polylactic acid (PLA), Starch blends, poly(butylene adipate-co-terephthalate) (PBAT), and Polyhydroxyalkanoates (PHAs), and Other) Table 16: Global Biodegradable Bioplastics Market Production Capacity by Type; 2021 (Percentage, %) 3.3.5 Global Biodegradable Bioplastics Market Type by Production Capacity Table 17: Global Biodegradable Bioplastics Market Type by Production Capacity; 2020-2021 (Thousand Tonnes) Table 18: Global Biodegradable Bioplastics Market Type by Production Capacity; 2022-2027 (Thousand Tonnes) 3.3.6 Global Non-Biodegradable Bioplastics Market by Value Table 19: Global Non-Biodegradable Bioplastics Market by Value; 2017-2021 (US$ Billion) Table 20: Global Non-Biodegradable Bioplastics Market by Value; 2022-2027 (US$ Billion) 3.3.7 Global Non-Biodegradable Bioplastics Market by Production Capacity Table 21: Global Non-Biodegradable Bioplastics Market by Production Capacity; 2020-2021 (Thousand Tonnes) Table 22: Global Non-Biodegradable Bioplastics Market by Production Capacity; 2022-2027 (Thousand Tonnes) 3.3.8 Global Non-Biodegradable Bioplastics Market Production Capacity by Type (Poly Trimethylene Terephthalate (PTT), Polyethylene (PE), Polyamide (PA), Polyethylene-Terephthalate (PET), Polypropylene (PP), and Other) Table 23: Global Non-Biodegradable Bioplastics Market Production Capacity by Type; 2021 (Percentage, %) 3.3.9 Global Non-Biodegradable Bioplastics Market Type by Production Capacity Table 24: Global Non-Biodegradable Bioplastics Market Type by Production Capacity; 2020-2021 (Thousand Tonnes) Table 25: Global Non-Biodegradable Bioplastics Market Type by Production Capacity; 2022-2027 (Thousand Tonnes) 3.4 Global Bioplastics Market: Application Analysis 3.4.1 Global Bioplastics Market by Application: An Overview 3.4.2 Global Flexible Packaging Bioplastics Market by Value Table 26: Global Flexible Packaging Bioplastics Market by Value; 2017-2021 (US$ Billion) Table 27: Global Flexible Packaging Bioplastics Market by Value; 2022-2027 (US$ Billion) 3.4.3 Global Flexible Packaging Bioplastics Market by Production Capacity Table 28: Global Flexible Packaging Bioplastics Market by Production Capacity; 2020-2021 (Thousand Tonnes) Table 29: Global Flexible Packaging Bioplastics Market by Production Capacity; 2022-2027 (Thousand Tonnes) 3.4.4 Global Rigid Packaging Bioplastics Market by Value Table 30: Global Rigid Packaging Bioplastics Market by Value; 2017-2021 (US$ Billion) Table 31: Global Rigid Packaging Bioplastics Market by Value; 2022-2027 (US$ Billion) 3.4.5 Global Rigid Packaging Bioplastics Market by Production Capacity Table 32: Global Rigid Packaging Bioplastics Market by Production Capacity; 2020-2021 (Thousand Tonnes) Table 33: Global Rigid Packaging Bioplastics Market by Production Capacity; 2022-2027 (Thousand Tonnes) 3.4.6 Global Textiles Bioplastics Market by Value Table 34: Global Textiles Bioplastics Market by Value; 2017-2021 (US$ Million) Table 35: Global Textiles Bioplastics Market by Value; 2022-2027 (US$ Billion) 3.4.7 Global Textiles Bioplastics Market by Production Capacity Table 36: Global Textiles Bioplastics Market by Production Capacity; 2020-2021 (Thousand Tonnes) Table 37: Global Textiles Bioplastics Market by Production Capacity; 2022-2027 (Thousand Tonnes) 3.4.8 Global Consumer Goods Bioplastics Market by Value Table 38: Global Consumer Goods Bioplastics Market by Value; 2017-2021 (US$ Million) Table 39: Global Consumer Goods Bioplastics Market by Value; 2022-2027 (US$ Billion) 3.4.9 Global Consumer Goods Bioplastics Market by Production Capacity Table 40: Global Consumer Goods Bioplastics Market by Production Capacity; 2020-2021 (Thousand Tonnes) Table 41: Global Consumer Goods Bioplastics Market by Production Capacity; 2022-2027 (Thousand Tonnes) 3.4.10 Global Agriculture & Horticulture Bioplastics Market by Value Table 42: Global Agriculture & Horticulture Bioplastics Market by Value; 2017-2021 (US$ Million) Table 43: Global Agriculture & Horticulture Bioplastics Market by Value; 2022-2027 (US$ Billion) 3.4.11 Global Agriculture & Horticulture Bioplastics Market by Production Capacity Table 44: Global Agriculture & Horticulture Bioplastics Market by Production Capacity; 2020-2021 (Thousand Tonnes) Table 45: Global Agriculture & Horticulture Bioplastics Market by Production Capacity; 2020-2021 (Thousand Tonnes) 3.4.12 Global Coating & Adhesives Bioplastics Market by Value Table 46: Global Coating & Adhesives Bioplastics Market by Value; 2017-2021 (US$ Million) Table 47: Global Coating & Adhesives Bioplastics Market by Value; 2022-2027 (US$ Million) 3.4.13 Global Coating & Adhesives Bioplastics Market by Production Capacity Table 48: Global Coating & Adhesives Bioplastics Market by Production Capacity; 2020-2021 (Thousand Tonnes) Table 49: Global Coating & Adhesives Bioplastics Market by Production Capacity; 2022-2027 (Thousand Tonnes) 3.4.14 Global Other Bioplastics Market by Value Table 50: Global Other Bioplastics Market by Value; 2017-2021 (US$ Billion) Table 51: Global Other Bioplastics Market by Value; 2022-2027 (US$ Billion) 3.4.15 Global Other Bioplastics Market by Production Capacity Table 52: Global Other Bioplastics Market by Production Capacity; 2020-2021 (Thousand Tonnes) Table 53: Global Other Bioplastics Market by Production Capacity; 2022-2027 (Thousand Tonnes) 4. Regional Market Analysis 4.1 Asia Pacific Bioplastics Market: An Analysis 4.1.1 Asia Pacific Bioplastics Market: An Overview 4.1.2 Asia Pacific Bioplastics Market by Value Table 54: Asia Pacific Bioplastics Market by Value; 2017-2021 (US$ Billion) Table 55: Asia Pacific Bioplastics Market by Value; 2022-2027 (US$ Billion) 4.1.3 Asia Pacific Bioplastics Market Value by Region (China, Japan, India, and the Rest of Asia Pacific) Table 56: Asia Pacific Bioplastics Market Value by Region; 2021 (Percentage, %) 4.1.4 Asia Pacific Bioplastics Market by Production Capacity Table 57: Asia Pacific Bioplastics Market by Production Capacity; 2020-2021 (Thousand Tonnes) Table 58: Asia Pacific Bioplastics Market by Production Capacity; 2022-2027 (Thousand Tonnes) 4.1.5 Asia Pacific Bioplastics Market Production Capacity by Region (China, Japan, India, and the Rest of Asia Pacific) Table 59: Asia Pacific Bioplastics Market Production Capacity by Region; 2021 (Percentage, %) 4.1.6 China Bioplastics Market by Value Table 60: China Bioplastics Market by Value; 2017-2021 (US$ Billion) Table 61: China Bioplastics Market by Value; 2022-2027 (US$ Billion) 4.1.7 China Bioplastics Market by Production Capacity Table 62: China Bioplastics Market by Production Capacity; 2020-2021 (Thousand Tonnes) Table 63: China Bioplastics Market by Production Capacity; 2022-2027 (Thousand Tonnes) 4.1.8 Japan Bioplastics Market by Value Table 64: Japan Bioplastics Market by Value; 2017-2021 (US$ Million) Table 65: Japan Bioplastics Market by Value; 2022-2027 (US$ Billion) 4.1.9 Japan Bioplastics Market by Production Capacity Table 66: Japan Bioplastics Market by Production Capacity; 2020-2021 (Thousand Tonnes) Table 67: Japan Bioplastics Market by Production Capacity; 2022-2027 (Thousand Tonnes) 4.1.10 India Bioplastics Market by Value Table 68: India Bioplastics Market by Value; 2017-2021 (US$ Million) Table 69: India Bioplastics Market by Value; 2022-2027 (US$ Million) 4.1.11 India Bioplastics Market by Production Capacity Table 70: India Bioplastics Market by Production Capacity; 2020-2021 (Thousand Tonnes) Table 71: India Bioplastics Market by Production Capacity; 2022-2027 (Thousand Tonnes) 4.1.12 Rest of Asia Pacific Bioplastics Market by Value Table 72: Rest of Asia Pacific Bioplastics Market by Value; 2017-2021 (US$ Billion) Table 73: Rest of Asia Pacific Bioplastics Market by Value; 2022-2027 (US$ Billion) 4.1.13 Rest of Asia Pacific Bioplastics Market by Production Capacity Table 74: Rest of Asia Pacific Bioplastics Market by Production Capacity; 2020-2021 (Thousand Tonnes) Table 75: Rest of Asia Pacific Bioplastics Market by Production Capacity; 2022-2027 (Thousand Tonnes) 4.2 Europe Bioplastics Market: An Analysis 4.2.1 Europe Bioplastics Market: An Overview 4.2.2 Europe Bioplastics Market by Value Table 76: Europe Bioplastics Market by Value; 2017-2021 (US$ Billion) Table 77: Europe Bioplastics Market by Value; 2022-2027 (US$ Billion) 4.2.3 Europe Bioplastics Market Value by Region (Germany, France, UK, and the Rest of Europe) Table 78: Europe Bioplastics Market Value by Region; 2021 (Percentage, %) 4.2.4 Europe Bioplastics Market by Production Capacity Table 79: Europe Bioplastics Market by Production Capacity; 2020-2021 (Thousand Tonnes) Table 80: Europe Bioplastics Market by Production Capacity; 2022-2027 (Thousand Tonnes) 4.2.5 Europe Bioplastics Market Production Capacity by Region (Germany, France, UK, and the Rest of Europe) Table 81: Europe Bioplastics Market Production Capacity by Region; 2021 (Percentage, %) 4.2.6 Germany Bioplastics Market by Value Table 82: Germany Bioplastics Market by Value; 2017-2021 (US$ Million) Table 83: Germany Bioplastics Market by Value; 2022-2027 (US$ Billion) 4.2.7 Germany Bioplastics Market by Production Capacity Table 84: Germany Bioplastics Market by Production Capacity; 2020-2021 (Thousand Tonnes) Table 85: Germany Bioplastics Market by Production Capacity; 2022-2027 (Thousand Tonnes) 4.2.8 France Bioplastics Market by Value Table 86: France Bioplastics Market by Value; 2017-2021 (US$ Million) Table 87: France Bioplastics Market by Value; 2022-2027 (US$ Million) 4.2.9 France Bioplastics Market by Production Capacity Table 88: France Bioplastics Market by Production Capacity; 2020-2021 (Thousand Tonnes) Table 89: France Bioplastics Market by Production Capacity; 2022-2027 (Thousand Tonnes) 4.2.10 UK Bioplastics Market by Value Table 90: UK Bioplastics Market by Value; 2017-2021 (US$ Million) Table 91: UK Bioplastics Market by Value; 2022-2027 (US$ Million) 4.2.11 UK Bioplastics Market by Production Capacity Table 92: UK Bioplastics Market by Production Capacity; 2020-2021 (Thousand Tonnes) Table 93: UK Bioplastics Market by Production Capacity; 2022-2027 (Thousand Tonnes) 4.2.12 Rest of Europe Bioplastics Market by Value Table 94: Rest of Europe Bioplastics Market by Value; 2017-2021 (US$ Million) Table 95: Rest of Europe Bioplastics Market by Value; 2022-2027 (US$ Billion) 4.2.13 Rest of Europe Bioplastics Market by Production Capacity Table 96: Rest of Europe Bioplastics Market by Production Capacity; 2020-2021 (Thousand Tonnes) Table 97: Rest of Europe Bioplastics Market by Production Capacity; 2022-2027 (Thousand Tonnes) 4.3 North America Bioplastics Market: An Analysis 4.3.1 North America Bioplastics Market: An Overview 4.3.2 North America Bioplastics Market by Value Table 98: North America Bioplastics Market by Value; 2017-2021 (US$ Billion) Table 99: North America Bioplastics Market by Value; 2022-2027 (US$ Billion) 4.3.3 North America Bioplastics Market Value by Region (The US, Canada, and Mexico) Table 100: North America Bioplastics Market Value by Region; 2021 (Percentage, %) 4.3.4 North America Bioplastics Market by Production Capacity Table 101: North America Bioplastics Market by Production Capacity; 2020-2021 (Thousand Tonnes) Table 102: North America Bioplastics Market by Production Capacity; 2022-2027 (Thousand Tonnes) 4.3.5 North America Bioplastics Market Production Capacity by Region (The US, Canada, and Mexico) Table 103: North America Bioplastics Market Production Capacity by Region; 2021 (Percentage, %) 4.3.6 The US Bioplastics Market by Value Table 104: The US Bioplastics Market by Value; 2017-2021 (US$ Billion) Table 105: The US Bioplastics Market by Value; 2022-2027 (US$ Billion) 4.3.7 The US Bioplastics Market by Production Capacity Table 106: The US Bioplastics Market by Production Capacity; 2020-2021 (Thousand Tonnes) Table 107: The US Bioplastics Market by Production Capacity; 2022-2027 (Thousand Tonnes) 4.3.8 Canada Bioplastics Market by Value Table 108: Canada Bioplastics Market by Value; 2017-2021 (US$ Million) Table 109: Canada Bioplastics Market by Value; 2022-2027 (US$ Million) 4.3.9 Canada Bioplastics Market by Production Capacity Table 110: Canada Bioplastics Market by Production Capacity; 2020-2021 (Thousand Tonnes) Table 111: Canada Bioplastics Market by Production Capacity; 2022-2027 (Thousand Tonnes) 4.3.10 Mexico Bioplastics Market by Value Table 112: Mexico Bioplastics Market by Value; 2017-2021 (US$ Million) Table 113: Mexico Bioplastics Market by Value; 2022-2027 (US$ Million) 4.3.11 Mexico Bioplastics Market by Production Capacity Table 114: Mexico Bioplastics Market by Production Capacity; 2020-2021 (Thousand Tonnes) Table 115: Mexico Bioplastics Market by Production Capacity; 2022-2027 (Thousand Tonnes) 4.4 Rest of the World Bioplastics Market: An Analysis 4.4.1 Rest of the World Bioplastics Market: An Overview 4.4.2 Rest of the World Bioplastics Market by Value Table 116: Rest of the World Bioplastics Market by Value; 2017-2021 (US$ Million) Table 117: Rest of the World Bioplastics Market by Value; 2022-2027 (US$ Billion) 4.4.3 Rest of the World Bioplastics Market by Production Capacity Table 118: Rest of the World Bioplastics Market by Production Capacity; 2020-2021 (Thousand Tonnes) Table 119: Rest of the World Bioplastics Market by Production Capacity; 2022-2027 (Thousand Tonnes) 5. Impact of COVID-19 5.1 Impact of COVID-19 on Bioplastics Market 5.2 Post COVID-19 Impact on Bioplastics Market 6. Market Dynamics 6.1 Growth Drivers 6.1.1 Increasing Fossil Fuel Prices Table 120: Global Crude Oil Prices; 2020-2022 (US$) 6.1.2 Increasing Demand for Eco-Friendly Goods 6.1.3 Emergence of Bio-based and Renewable Raw Materials 6.1.4 High Consumer Acceptance for Bioplastics 6.1.5 Growing Beverage Packaging Industry 6.1.6 Favorable Government Initiatives 6.1.7 Reduced Greenhouse Gas Emissions 6.2 Challenges 6.2.1 High Cost Associated 6.2.2 Limited Regulations Related to Bioplastics in Developing Countries 6.3 Market Trends 6.3.1 Increasing Demand for Electronic vehicles Table 121: Global Electronic Vehicles Sales; 2017-2021 (Million) 6.3.2 Growing Demand of Bioplastics in Medical Sector 6.3.3 Technological Advancements 6.3.4 Increasing Research and Development 7. Competitive Landscape 7.1 Global Bioplastics Key Players by Market Share Table 122: Global Bioplastics Key Players by Market Share; 2022 (Percentage, %) 8. Company Profiles 8.1 Avantium N.V. 8.1.1 Business Overview 8.1.2 Operating Segments Table 123: Avantium N.V. Revenues by Segment; 2021 (Percentage,%) 8.1.3 Business Strategy 8.2 BASF SE 8.2.1 Business Overview 8.2.2 Operating Segments Table 124: BASF SE Sales by Segments; 2021 (Percentage,%) 8.2.3 Business Strategy 8.3 Toray Industries Inc. 8.3.1 Business Overview 8.3.2 Operating Segments Table 125: Toray Industries Inc. Revenue by Segments; 2021 (Percentage,%) 8.3.3 Business Strategy 8.4 Eastman Chemical Company 8.4.1 Business Overview 8.4.2 Operating Segments Table 126: Eastman Chemical Company Sales by Segments; 2021 (Percentage,%) 8.4.3 Business Strategy 8.5 Biome Technologies PLC 8.5.1 Business Overview 8.5.2 Operating Segments Table 127: Biome Technologies PLC Revenue by Segments; 2021 (Percentage,%) 8.5.3 Business Strategy 8.6 Carbion N.V. 8.6.1 Business Overview 8.6.2 Net Sales by Business Area Table 128: Carbion N.V. Net Sales by Business Area; 2021 (Percentage,%) 8.6.3 Business Strategy 8.7 Kuraray Co., Ltd (Plantic Technologies Ltd.) 8.7.1 Business Overview 8.7.2 Operating Segments Table 129: Kuraray Co., Ltd Net Sales by Segment; 2021 (Percentage,%) 8.7.3 Business Strategy 8.8 Mitsubishi Chemical Group 8.8.1 Business Overview 8.8.2 Operating Segments Table 130: Mitsubishi Chemical Group Sales Revenue by Segment; 2021 (Percentage,%) 8.8.3 Business Strategy 8.9 Novamont S.p.A. 8.9.1 Business Overview 8.9.2 Business Strategy 8.10 Futerro 8.10.1 Business Overview 8.10.2 Business Strategy 8.11 NatureWorks LLC 8.11.1 Business Overview 8.11.2 Business Strategy 8.12 PTT MCC Biochem Co. Ltd 8.12.1 Business Overview 8.12.2 Business Strategy