R&D in Bioplastics Production to Augment Growth of the Global Market

 

Bioplastics are plastic materials produced from renewable biomass sources, such as vegetable fats and oils, corn starch, straw, woodchips, sawdust, recycled food waste. Biodegradable bioplastics could significantly reduce the carbon emissions of the chemicals industry.

Market Insights

R&D in processes for producing bioplastics is expected to propel growth of the global bioplastics market over the forecast period. For instance, in October 2020, The EU-funded REFUCOAT project reported development of a new set of processes for producing bioplastics for food packaging. The team used bioplastics that include, polyhydroxyalkanoates (PHA) and polyglycolic acid (PGA) to develop three different bio-based active packaging systems. Moreover, development of specialty bioplastics is also expected to aid in growth of the global bioplastics market. For instance, in October 2020, researchers from JAIST and U-Tokyo University reported development of white biotechnological conversion of cellulosic biomass to aromatic polymers with highest thermal degradation of all plastics.

Government intervention is necessary to boost adoption of bioplastics. Moreover, improvements in the polymerisation process technologies and biorefinery integration is also expected to offer lucrative growth opportunities for players in the global bioplastics market. R&D in bacteria for decomposition of bioplastics is also expected to aid in growth of the global bioplastics market. For instance, in September 2020, researchers at Siberian Federal University reported identifying bacterial strains of Bacillus pumilus, Pseudomonas, Variovorax, and Rhodococcus in one of the regions of the Krasnoyarsk Region that are able to "digest" biopolymers.

Recent studies have reported presence of toxic chemicals, which is expected to hinder growth of the global bioplastics market. For instance, researchers from Goethe University Frankfurt am Main, Department of Aquatic Ecotoxicology, reported that most bioplastics and plant-based materials contain toxic chemicals as 67% of the samples induced baseline toxicity, 42% oxidative stress, 23% antiandrogenicity and one sample estrogenicity.

Competitive Analysis

Major players operating in the global bioplastics market include, Teijin Ltd., Toray Industries, Toyota Tsusho, M & G Chemicals, PTT Global Chemical Public Company Ltd., Danimer Scientific, Showa Denko K.K., NatureWorks LLC, SABIC, BASF SE, Futerro SA, E. I. du Pont de Nemours and Company, Braskem, Corbion N.V., Galactic, and Solvay SA

Major players operating in the global bioplastics market are focused on going public to enhance their market share. For instance, in October 2020, Danimer Scientific, a leading maker of polyhydroxyalkanoate (PHA) bioplastics, signed an agreement with Live Oak Acquisition Corp., which is expected to result in the company’s listing on the New York Stock Exchange.

In-depth report on global bioplastics market by Coherent Market Insights: