A recently published report by Technavio, specialists in emerging technologies market research, reveals that the Global Bioplastics market is expected to grow at a CAGR of 32 percent over the period 2010“2014. The report, which covers the Americas as well as the EMEA and APAC regions, indicates that the market is being driven by the favorable policies adopted by various governments.
According to Technavio™s industry analyst, The excess use of plastics has led to an increase in CO2 emission and toxic landfills. As a result, governments of various countries have been encouraging production of bioplastics. The US Government has introduced the Federal Farm Bill Energy title 9, which urges Federal Agencies to buy bioplastic items. Also, the Kyoto Protocol has been established where member countries have agreed to reduce CO2 emission by adopting various measures, including bioplastics.
The report also highlights that the high cost of production is hindering the growth of this market. However, the rising costs of petroleum products are expected to drive the market.
This market is also marked by the increased usage of bioplastics in the Automobile industry. These are just some of the important findings presented in the report that will enable companies to fully understand the potential in this market and formulate their own strategies.
Technavio™s report, Global Bioplastics Market 2010“2014, is based on extensive research conducted with industry experts, vendors, and end-users. It examines the key trends, drivers, and challenges impacting the evolution of this market. The report also contains incisive insights and SWOT analyses regarding the key vendors in this market.
Companies mentioned in this report include Natureworks LLC, Novamont SpA, ADM/Metabolix, Toyota Motor Corp., and BASF.
For further information and to obtain your copy of this report, please visit https://www.technavio.com/content/global-bioplastics-market-2010-2014
Government Policies Encouraging Use of Bioplastics
