According to the latest report published by Credence Research, Inc. “Global Starch-based Plastics Market – Growth, Future Prospects and Competitive Analysis, 2018-2026,” the global starch-based plastics market expected to grow at the CAGR of 15.7% from 2018 to 2026.
Browse the full report at: https://www.credenceresearch.com/report/starch-based-plastics-market
Starch-based plastics market projected to witness the CAGR of 15.7% during the forecast period. Starch is the most abundant polysaccharides and cheap homoglycan polymers. Starch in raw form cannot be used as a bio plastic due to its high melting point and brittleness. Starch is plasticized by application of heat, mechanical shear and the addition of plasticizer, commonly glycerine and polyols, etc. in the presence of water, to produce a thermoplastic material known as thermoplastic starch (TPS). For some specific and high-end applications, modi?cation of starch is done by compounding with other bio plastics, to produce a range of materials known as starch-based polymers. Starch-based plastics are often blended with biodegradable polymers such as PLA, PBAT, PBS, PCL, PVOH, PHAs, etc. Natural or synthetic polymers both are used for blending with starch based on the end-use application.
Wide spread availability at a lower price, growing use of starch-based plastics as an alternative packaging, and stringent environment regulation to use the material with minimal negative impact on environment driving its demand in various end-use industries especially food & beverages and medical. Moreover, fluctuation in oil prices tends to force companies to search for a stable source of raw material, which further creates lucrative opportunities for market growth. Furthermore, starch-based films are also gaining traction in the food, cosmetics, pharmaceuticals, and goods packaging sector propelling the market growth in the coming years. The government initiative, investments, and subsidies in developing economies on the use of biodegradable plastics to mitigate the disposal issues of conventional plastics in sea and landfills expected to catapult the market growth. However, limited production capacity, reliance on petroleum-based bio plastics, and its hydrophilic nature restrict its growth in humid environment applications expected to restrain the market growth during the forecast period.
Based on the type, thermoplastic starch dominated the starch-based plastics market in 2017. Whereas, food & beverages end-use industry led the market in terms of value and volume consumption of starch-based plastics. Europe was the largest regional market in 2017 by value and volume. Majority of the demand comes from economies such as U.K., France, and Germany owing to environmentally conscious consumers and added regulations and incentives that favor bio plastics. North America closely follows Europe region with the significant market share in 2017. Consumer preferences for sustainable materials and the increased adoption of bio plastics by plastic processors and compounders which further stimulating the use of starch-based plastics expected to boost the market growth in the North America region.
Key manufacturers of starch-based plastics operating in the market include Biome Bioplastics, BASF SE, Warner-Lambert, Novamont S.p.A., Biotech, Corbion Purac, Cardia Bioplastic, Toray Industries Inc., Braskem S.A., and Biobag International among others.