Bio-plastics Market Outlook, Current and Future Industry Landscape Analysis
A growing beverage packaging industry, government support for adopting bio-based materials, and rising consumer acceptance for bio-plastics are expected to contribute to the growth of the global bio-plastic market over the forecast period. Future Market Insights (FMI), in its latest report titled, “ Bio-plastics Market : Global Industry Analysis and Opportunity Assessment ”, estimates that the global bio-plastics market is expected to account for US$ 43.8 Bn by 2020, registering a CAGR of 28.8% during the forecast period. Key players in the global bio-plastics market are BASF SE Arkema, DSM NV I. du Pont de Nemours and Company Evonik Industries NaturePlast NatureWorks LLC RTP Company Techno polymer Co. Ltd. Toray Industries Inc. Assessing the various factors driving this market, a FMI lead analyst, said, “ Increasing consumer awareness regarding benefits of greener products, strict regulations to incorporate bio-based products in automotive & packaging, and increasing investments