The bioplastics market in APAC is expected to grow from US$ 2,114.22 million in 2021 to US$ 5,321.06 million by 2028; it is estimated to grow at a CAGR of 12.9% from 2021 to 2028.
Plastic pollution has become one of the most crucial environmental issues and has a negative impact on oceans and wildlife. When thrown in landfills, conventional plastics find their way into water bodies and oceans. They may be mistaken as food by aquatic animals, which leads to detrimental effects of aquatic ecosystems. Conventional plastics are also harmful to humans, animals, plants, and environment since they are not readily degradable and take ~700 years for degradation. Further, these plastics are produced from toxic materials such as benzene and vinyl hydrochloride, which may cause cancer among humans, while the manufacturing byproducts contaminate air and soil. Phthalates are among other toxic chemicals added to plastics to make them softer and more pliable. Phthalates are harmful to endocrine glands and cause congenital disabilities and other health problems. On contrary, bioplastics break down naturally through composting or biodegradation, and many bioplastic polymers help reduce carbon footprint. Common bioplastics, such as starch-based polybioplastics (PLA) and polyhydroxybutyrate (PHB) are nontoxic. This makes them ideal for food packaging as they don’t contaminate food with any unnecessary taste, nor cause leeching of chemicals such as BPAs, unlike the case with some oil-based plastics.
Plastic pollution is most visible in Asian countries, where garbage collection systems are inefficient or nonexistent. However, developed countries, especially with low recycling rates, also face problems in properly collecting discarded plastics. Consequently, to lessen traditional plastic waste, governing bodies from many countries are imposing bans and enforcing innovative recycling practices. Thus, with the growing plastic pollution, governments across the world are implementing stringent laws and regulations on traditional plastic use, which is considered to create lucrative growth opportunities for the bioplastics market players.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC bioplastics market. at a notable CAGR during the forecast period.
APAC BioplasticsMarket Revenue and Forecast to 2028 (US$ Million)
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APAC Bioplastics Market Segmentation
The APAC bioplastics market is segmented into type, application, and country. Based on type, the market is segmented into biodegradable and non-biodegradable. The biodegradable segment held the larger market share in 2020. Based on application, the APAC bioplastics market has been divided into packaging, agriculture, consumer goods, automotive & transportation, textiles, building & construction, and others. The packaging segment held the largest market share in 2020. Based on country, the APAC bioplastics market is segmented into Australia, China, India, Japan, South Korea, and rest of APAC. Furthermore, Basf SE; Biome Bioplastics; Braskem S.A.; Mitsubishi Chemical Corporation; Sabic; Teijin Limited; Toray Industries, Inc.; and Total Corbion PLA are among the leading companies in the APAC bioplastics market.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection
3.2.2 Primary Interviews
3.2.3 Hypothesis Formulation
3.2.4 Macro-economic Factor Analysis
3.2.5 Developing Base Number
3.2.6 Data Triangulation
3.2.7 Country-Level Data
4. APAC Bioplastics Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. APAC Bioplastics Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Vast Application Scope of Bioplastics
5.1.2 Rising Popularity of Eco-Friendly Plastics in the Packaging Industry
5.2 Market Restraints
5.2.1 Higher Prices and Shorter Lifetime of Bioplastics than Traditional Plastics
5.3 Market Opportunities
5.3.1 Government Laws & Regulations on Traditional Plastic Use Being Very Strict
5.4 Future Trends
5.4.1 Innovations and Technology Advancement Getting Popular
5.5 Impact Analysis of Drivers and Restraints
6. Bioplastics Market– APAC Analysis
6.1 Market Overview
6.2 APAC Bioplastics Market –Revenue and Forecast To 2028 (US$ Million)
7. APAC Bioplastics Market Analysis – By Type
7.1 Overview
7.2 APAC Bioplastics Market Breakdown, by Type, 2020 & 2028
7.3 Biodegradable
7.3.1 Overview
7.3.2 Biodegradable: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Non-Biodegradable
7.4.1 Overview
7.4.2 Non-Biodegradable: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
8. APAC Bioplastics Market Analysis – By Application
8.1 Overview
8.2 APAC Bioplastics Market Breakdown, by Application, 2020 & 2028
8.3 Packaging
8.3.1 Overview
8.3.2 Packaging: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Agriculture
8.4.1 Overview
8.4.2 Agriculture: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Consumer Goods
8.5.1 Overview
8.5.2 Consumer Goods: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Automotive and Transportation
8.6.1 Overview
8.6.2 Automotive and Transportation: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
8.7 Textiles
8.7.1 Overview
8.7.2 Textiles: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
8.8 Building and Construction
8.8.1 Overview
8.8.2 Building and Construction: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
8.9 Others
8.9.1 Overview
8.9.2 Others: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
9. APAC Bioplastics Market –Country Analysis
9.1 Overview
9.1.1 Asia Pacific: Bioplastics Market, by Key Country
9.1.1.1 Australia: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 Australia: Bioplastics Market, By Type
9.1.1.1.2 Australia: Bioplastics Market, by Application
9.1.1.2 China: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 China: Bioplastics Market, By Type
9.1.1.2.2 China: Bioplastics Market, by Application
9.1.1.3 India: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 India: Bioplastics Market, By Type
9.1.1.3.2 India: Bioplastics Market, by Application
9.1.1.4 Japan: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.4.1 Japan: Bioplastics Market, By Type
9.1.1.4.2 Japan: Bioplastics Market, by Application
9.1.1.5 South Korea: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.5.1 South Korea: Bioplastics Market, By Type
9.1.1.5.2 South Korea: Bioplastics Market, by Application
9.1.1.6 Rest of Asia Pacific: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.6.1 Rest of Asia Pacific: Bioplastics Market, By Type
9.1.1.6.2 Rest of Asia Pacific: Bioplastics Market, by Application
10. Company Profiles
10.1 Teijin Limited
10.1.1 Key Facts
10.1.2 Business Description
10.1.3 Products and Services
10.1.4 Financial Overview
10.1.5 SWOT Analysis
10.1.6 Key Developments
10.2 TORAY INDUSTRIES, INC.
10.2.1 Key Facts
10.2.2 Business Description
10.2.3 Products and Services
10.2.4 Financial Overview
10.2.5 SWOT Analysis
10.2.6 Key Developments
10.3 SABIC
10.3.1 Key Facts
10.3.2 Business Description
10.3.3 Products and Services
10.3.4 Financial Overview
10.3.5 SWOT Analysis
10.3.6 Key Developments
10.4 BASF SE
10.4.1 Key Facts
10.4.2 Business Description
10.4.3 Products and Services
10.4.4 Financial Overview
10.4.5 SWOT Analysis
10.4.6 Key Developments
10.5 Total Corbion PLA
10.5.1 Key Facts
10.5.2 Business Description
10.5.3 Products and Services
10.5.4 Financial Overview
10.5.5 SWOT Analysis
10.5.6 Key Developments
10.6 Braskem S.A.
10.6.1 Key Facts
10.6.2 Business Description
10.6.3 Products and Services
10.6.4 Financial Overview
10.6.5 SWOT Analysis
10.6.6 Key Developments
10.7 Biome Bioplastics
10.7.1 Key Facts
10.7.2 Business Description
10.7.3 Products and Services
10.7.4 Financial Overview
10.7.5 SWOT Analysis
10.7.6 Key Developments
10.8 Mitsubishi Chemical Corporation
10.8.1 Key Facts
10.8.2 Business Description
10.8.3 Products and Services
10.8.4 Financial Overview
10.8.5 SWOT Analysis
10.8.6 Key Developments
11. Appendix
11.1 About The Insight Partners
11.2 Word Index
LIST OF TABLES
Table 1. APAC Bioplastics Market –Revenue and Forecast To 2028 (US$ Million)
Table 2. Australia Bioplastics Market, By Type– Revenue and Forecast to 2028 (US$ Million)
Table 3. Australia Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 4. China Bioplastics Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 5. China Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 6. India Bioplastics Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 7. India Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 8. Japan Bioplastics Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 9. Japan Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 10. South Korea Bioplastics Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 11. South Korea Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 12. Rest of Asia Pacific Bioplastics Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 13. Rest of Asia Pacific Bioplastics Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 14. List of Abbreviation
LIST OF FIGURES
Figure 1. APAC Bioplastics Market Segmentation
Figure 2. APAC Bioplastics Market Segmentation – By Country
Figure 3. APAC Bioplastics Market Overview
Figure 4. Biodegradable Segment Held Largest Share of APAC Bioplastics Market
Figure 5. China Region Held Largest Share of APAC Bioplastics Market
Figure 6. Porter's Five Forces Analysis
Figure 7. Ecosystem: APAC Bioplastics Market
Figure 8. Expert Opinion
Figure 9. APAC Bioplastics Market Impact Analysis of Drivers and Restraints
Figure 10. APAC Bioplastics Market – Revenue and Forecast To 2028 (US$ Million)
Figure 11. APAC Bioplastics Market Breakdown, by Type, 2020 & 2028
Figure 12. APAC Biodegradable: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. APAC Non-Biodegradable: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. APAC Bioplastics Market Breakdown, by Application, 2020 & 2028
Figure 15. APAC Packaging: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. APAC Agriculture: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. APAC Consumer Goods: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. APAC Automotive and Transportation: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. APAC Textiles: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. APAC Building and Construction: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. APAC Others: Bioplastics Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Asia Pacific: Bioplastics Market, by Key Country – Revenue (2020) (US$ Million)
Figure 23. Asia Pacific: Bioplastics Market Revenue Share, by Key Country (2020 and 2028)
Figure 24. Australia: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)
Figure 25. China: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)
Figure 26. India: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)
Figure 27. Japan: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)
Figure 28. South Korea: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)
Figure 29. Rest of Asia Pacific: Bioplastics Market –Revenue and Forecast to 2028 (US$ Million)
- Basf SE
- Biome Bioplastics
- Braskem S.A.
- Mitsubishi Chemical Corporation
- Sabic; Teijin Limited
- Toray Industries, Inc.
- Total Corbion PLA
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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