Asia Pacific Biodegradable Plastic Market Key Players and Opportunities by 2027
Asia Pacific Biodegradable Plastic Market to 2027 - Regional Analysis and Forecasts by Type (PLA, PHA, Starch Blends, PBS, PBAT, and Others), End User (Packaging and Bags, Agriculture & Horticulture, Consumer Goods, and Others), and Countries
- Report Date : Oct 2019
- Report Code : TIPRE00006942
- Category : Chemicals and Materials
- Status : Published
- Available Report Formats :
- No. of Pages : 150
The Asia Pacific biodegradable plastic market is accounted to US$ 731.0 Mn in 2018 and is expected to grow at a CAGR of 16.6% during the forecast period 2019 – 2027, to account to US$ 2,916.1 Mn by 2027.
China is dominating the Asia Pacific biodegradable plastic market followed by Japan. The market for biodegradable plastic is growing in China due to rising concerns from consumers over the impact plastic products have on the environment. The rising concerns over plastic use may lead to regulators banning single-use, non-biodegradable plastics such as cutlery and packaging in the country. Chinese plastic manufacturers are responsible for the highest share of global plastic production are now looking to develop more biodegradable plastic products.
Asia Pacific Biodegradable Plastic Market
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Market Insights
Growing awareness of the adverse effects attributed to conventional plastics
The customers in developed and developing countries have become more aware of the ill effects of conventional plastics on their lifestyle and the environment. Various organizations are working toward bringing transformation in the handling of plastics, through strategic planning, communication, consumer awareness campaigns, documentary films, education, cleanup campaigns, raising business awareness, scientific research, entrepreneurial innovation, legislation, and sustainability. The key aim is to increase the understanding of users regarding plastic pollution, thereby encouraging the invention of more sustainable solutions, and empowerment of more people and business organizations to take action to stop plastic pollution. Therefore, the revolution in consumer demand on the basis of environmental awareness, packaging convenience, and sustainable plastic production systems is boosting the global biodegradable plastic market growth.
Type Insights
Based on type, the Asia Pacific biodegradable plastic market is bifurcated as PHA, PLA, starch blends, biodegradable polyesters and others. The starch blend segment dominated the Asia Pacific biodegradable plastic market. The starch blend polymer bio-blends are biodegradable polymeric materials which are composed of cellulosic-based biomaterials that can be degraded by enzymes and microorganisms. The combination of starch and polyolefin produces a single material carrying the biodegradation properties of starch with the thermal, mechanical and barrier properties of polyolefin. Starch has been receiving increasing attention as raw material for the manufacturing of films due to the lack of the availability of the conventional film-forming resins. The low permeability of starch films has made it an element of choice for the food packaging application
End User Insights
The Asia Pacific Biodegradable plastic market is bifurcated based on end user into packaging and bags, agriculture and horticulture, consumer goods, textile and others. The packaging and bags segment accounted for the largest share in the Asia Pacific biodegradable plastic market. The biodegradable plastics have found a profound place in the packaging and bags sector considering the growing demand for biodegradable plastic from the packaging sector due to its properties like being stronger and convenient to use as compared to the traditional plastics. Rigid packaging is implemented by manufacturers of cosmetic goods, as well as beverage bottles, among others. Materials including bio-PE, PLA, or bio-PET, are commonly used in rigid biodegradable plastic packaging.
Rest of Asia Pacific Biodegradable Plastic Market by Type
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Asia Pacific Biodegradable Plastic Market: Strategic Insights
Market Size Value in US$ 731.0 Million in 2018 Market Size Value by US$ 2,916.1 Million by 2027 Growth rate CAGR of 16.6% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
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Asia Pacific Biodegradable Plastic Market: Strategic Insights
| Market Size Value in | US$ 731.0 Million in 2018 |
| Market Size Value by | US$ 2,916.1 Million by 2027 |
| Growth rate | CAGR of 16.6% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
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New product development, market initiatives and merger and acquisition were observed as the most adopted strategies in Asia Pacific biodegradable plastic market. Few of the recent developments in the Asia Pacific Biodegradable plastic market are listed below:
2019:
Total Corbion PLA opened its bio plastics plant in Rayong, Thailand. It has the production capacity of 75,000 tons/year
2018:
BASF SE started a pilot project, namely Ecovio Plus, in Kalyani, West Bengal (India) to promote the organic waste carrier bags made up of biodegradable plastics, Ecovio.
2018:
Mitsubishi Chemical Corporation announced that Japan Pulp and Paper Co., Ltd. would start selling their paper cups made up of Biodegradable plastic products, BioPBS. ASIA PACIFIC BIODEGRADABLE PLASTIC MARKET SEGMENTATION
By Type
- PHA
- PLA
- Starch Blends
- Biodegradable Polyesters
- Others
By End User
- Packaging and Bags
- Agriculture and Horticulture
- Consumer Goods
- Textile
- Others
By Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
Company Profiles
- API SpA
- BASF S.E.
- FKuR Kunststoff GmbH
- Balson Industries
- Novamont S.p.A.
- Kingfa Sci. & Tech. Co., Ltd.
- GuangDong Huazhilu Biological Material Co., Ltd.
- Mitsubishi Chemical Corporation
- Plantic Technologies Limited
- Total Corbion PLA
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, End User, and Countries
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, China, Japan, South Korea
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Asia Pacific Biodegradable Plastic Market – By Type
1.3.2 Asia Pacific Biodegradable Plastic Market – By End-User
1.3.3 Asia Pacific Biodegradable Plastic Market – By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Biodegradable Plastic Market Landscape
4.1 Market Overview
4.1.1 APAC PEST Analysis
5. Biodegradable Plastic Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Growing awareness of the adverse effects attributed to conventional plastics
5.1.2 Clean up efforts taken up by various Asian governments
5.2 Restraints
5.2.1 Cheaper alternatives like conventional plastics
5.3 Opportunity
5.3.1 Implementation of biodegradable plastics in biomedical applications
5.4 Future trends
5.4.1 Implementation of biodegradable plastic in biomedical applications
5.5 Impact Analysis of Drivers and Restraints
6. Biodegradable Plastic – Asia Pacific Market Analysis
6.1 Asia Pacific Biodegradable Plastic Market Overview
6.2 Asia Pacific Biodegradable Plastic Market Forecast and Analysis
7. Asia Pacific Biodegradable Plastic Market Analysis – By Type
7.1 Overview
7.2 Asia Pacific Biodegradable Plastic Market Breakdown, By Type, 2018 & 2027
7.3 PHA
7.3.1 Overview
7.3.2 Asia Pacific PHA Market Revenue Forecasts To 2027 (US$ Mn)
7.4 PLA
7.4.1 Overview
7.4.2 Asia Pacific PLA Market Revenue and Forecasts To 2027 (US$ Mn)
7.5 Starch Blends
7.5.1 Overview
7.5.2 Asia Pacific Starch Blends Market Revenue and Forecasts To 2027 (US$ Mn)
7.6 PBS
7.6.1 Overview
7.6.2 Asia Pacific PBS Market Revenue and Forecasts To 2027 (US$ Mn)
7.7 PBAT
7.7.1 Overview
7.7.2 Asia Pacific PBAT Market Revenue and Forecasts To 2027 (US$ Mn)
7.8 Other
7.8.1 Overview
7.8.2 Asia Pacific Other Types Market Revenue and Forecasts To 2027 (US$ Mn)
8. Asia Pacific Biodegradable Plastic Market Analysis – By End-User
8.1 Overview
8.2 Asia Pacific Biodegradable Plastic Market Breakdown, By end-user, 2018 & 2027
8.3 Packaging & Bags
8.3.1 Overview
8.3.2 Asia Pacific Packaging & Bags Market Revenue and Forecasts To 2027 (US$ Mn)
8.4 Agriculture & Horticulture
8.4.1 Overview
8.4.2 Asia Pacific Agriculture & Horticulture Market Revenue and Forecasts To 2027 (US$ Mn)
8.5 Consumer Goods
8.5.1 Overview
8.5.2 Asia Pacific Consumer Goods Market Revenue and Forecasts To 2027 (US$ Mn)
8.6 Other
8.6.1 Overview
8.6.2 Asia Pacific Other End-Users Market Revenue and Forecasts To 2027 (US$ Mn)
9. Biodegradable Plastic Market – Country Analysis
9.1 Overview
9.1.1 Asia Pacific Biodegradable Plastic Market Breakdown, by Key Countries
9.1.1.1 Australia Biodegradable Plastic Market Revenue Forecasts to 2027 (US$ MN)
9.1.1.1.1 Australia Biodegradable Plastic Market Breakdown by Type
9.1.1.1.2 Australia Biodegradable Plastic Market Breakdown by End User
9.1.1.2 China Biodegradable Plastic Market Revenue and Forecasts to 2027 (US$ MN)
9.1.1.2.1 China Biodegradable Plastic Market Breakdown by Type
9.1.1.2.2 China Biodegradable Plastic Market Breakdown by End User
9.1.1.3 India Biodegradable Plastic Market Revenue and Forecasts to 2027 (US$ MN)
9.1.1.3.1 India Biodegradable Plastic Market Breakdown by Type
9.1.1.3.2 India Biodegradable Plastic Market Breakdown by End User
9.1.1.4 Japan Biodegradable Plastic Market Revenue and Forecasts to 2027 (US$ MN)
9.1.1.4.1 Japan Biodegradable Plastic Market Breakdown by Type
9.1.1.4.2 Japan Biodegradable Plastic Market Breakdown by End User
9.1.1.5 South Korea Biodegradable Plastic Market Revenue and Forecasts to 2027 (US$ MN)
9.1.1.5.1 South Korea Biodegradable Plastic Market Breakdown by Type
9.1.1.5.2 South Korea Biodegradable Plastic Market Breakdown by End User
9.1.1.6 Rest of Asia Pacific Biodegradable Plastic Market Revenue and Forecasts to 2027 (US$ MN)
9.1.1.6.1 Rest of Asia Pacific Biodegradable Plastic Market Breakdown by Type
9.1.1.6.2 Rest of Asia Pacific Biodegradable Plastic Market Breakdown by End User
10. Industry Landscape
10.1 Overview
10.2 Strategy And Business Planning
11. Company Profiles
11.1 API SpA
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.2 BASF S.E.
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 FKuR Kunststoff GmbH
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.4 Balson Industries
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.5 Novamont S.p.A.
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.6 Kingfa Sci. & Tech. Co., Ltd.
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.7 GuangDong Huazhilu Biological Material Co., Ltd.
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.8 Mitsubishi Chemical Corporation
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Plantic Technologies Limited
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 Total Corbion PLA
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
12.1 About the Insight Partners
12.2 Glossary
LIST OF TABLES
Table 1. Asia Pacific Biodegradable Plastic Market Revenue and Forecasts to 2027 (US$ Mn)
Table 2. Asia Pacific Biodegradable Plastic Market Revenue and Forecasts to 2027 – By Type (US$ Mn)
Table 3. Asia Pacific Biodegradable Plastic Market Revenue and Forecasts to 2027 – By End-User (US$ Mn)
Table 4. Australia Biodegradable Plastic market Revenue and Forecasts to 2027 – By Type (US$ Mn)
Table 5. Australia Biodegradable Plastic Market Revenue and Forecasts to 2027 – By End User (US$ Mn)
Table 6. China Biodegradable Plastic Market Revenue and Forecasts to 2027 – By Type (US$ Mn)
Table 7. China Biodegradable Plastic Market Revenue and Forecasts to 2027 – By End User (US$ Mn)
Table 8. India Biodegradable Plastic Market Revenue and Forecasts to 2027 – By TYPE (US$ Mn)
Table 9. India Biodegradable Plastic Market Revenue and Forecasts to 2027 – By End User (US$ Mn)
Table 10. Japan Biodegradable Plastic Market Revenue and Forecasts to 2027 – By TYPE (US$ Mn)
Table 11. Japan Biodegradable Plastic Market Revenue and Forecasts to 2027 – By End User (US$ Mn)
Table 12. South Korea Biodegradable Plastic market Revenue and Forecasts to 2027 – By Type (US$ Mn)
Table 13. South Korea Biodegradable Plastic Market Revenue and Forecasts to 2027 – By End User (US$ Mn)
Table 14. Rest of Asia Pacific Biodegradable Plastic market Revenue and Forecasts to 2027 – By Type (US$ Mn)
Table 15. Rest of Asia Pacific Biodegradable Plastic Market Revenue and Forecasts to 2027 – By End User (US$ Mn)
Table 16. Glossary of Terms, Biodegradable plastic Market
LIST OF FIGURES
Figure 1. Asia Pacific Biodegradable Plastic Market Segmentations
Figure 2. Asia Pacific Biodegradable Plastic Market Segmentation – By Country
Figure 3. Asia Pacific Biodegradable Plastic Market Overview
Figure 4. PACKAGING & BAGS HELD LARGEST SHARE IN THE ASIA PACIFIC BIODEGRADABLE PLASTIC MARKET BY END-USER
Figure 5. China Dominated The Asia Pacific Biodegradable Plastic Market In 2018
Figure 6. Asia Pacific Biodegradable Plastic Market, Industry Landscape
Figure 7. APAC – Pest Analysis
Figure 8. Asia Pacific Biodegradable Plastic Market Impact Analysis of Driver and Restraints
Figure 9. Asia Pacific Biodegradable Plastic Market Forecast And Analysis, (US$ Mn)
Figure 10. Asia Pacific Biodegradable Plastic Market Breakdown by Type, 2018 & 2027 (%)
Figure 11. Asia Pacific PHA Market Revenue Forecasts To 2027 (US$ Mn)
Figure 12. Asia Pacific PLA Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 13. Asia Pacific Starch Blends Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 14. Asia Pacific PBS Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 15. Asia Pacific PBAT Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 16. Asia Pacific Other Types Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 17. Asia Pacific Biodegradable Plastic Market Breakdown by End-User, 2018 & 2027 (%)
Figure 18. Asia Pacific Packaging & Bags Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 19. Asia Pacific Agriculture & Horticulture Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 20. Asia Pacific Consumer Goods Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 21. Asia Pacific Other End-Users Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 22. Asia Pacific Biodegradable Plastic market Breakdown by Key Countries, 2018 & 2027(%)
Figure 23. Australia Biodegradable Plastic market Forecasts to 2027 (US$ MN)
Figure 24. China Biodegradable Plastic Market Revenue and Forecasts to 2027 (US$ MN)
Figure 25. India Biodegradable Plastic Market Revenue and Forecasts to 2027 (US$ MN)
Figure 26. Japan Biodegradable Plastic Market Revenue and Forecasts to 2027 (US$ MN)
Figure 27. South Korea Biodegradable Plastic Market Revenue and Forecasts to 2027 (US$ MN)
Figure 28. Rest of Asia Pacific Biodegradable Plastic Market Revenue and Forecasts to 2027 (US$ MN)
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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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