Future Market Insights
Global corn-based plastics for Packaging market: Introduction
Corn-based plastics are primarily a biodegradable group of polymers that can be manufactured from renewable resources. Corn-based plastics are starch-based bioplastics in the form of disposable tableware and carrier bags. Bioplastics have widespread applications in various industries, including the packaging industry. There are numerous advantages of corn-based plastics in the packaging industry. One of the key factors positively influencing preference for corn-based plastics is that they are 100% biodegradable, which results in less pollution. Another important property possessed by corn-based plastics is that they are carbon neutral which results in reducing the number of greenhouse gases significantly. Corn-based plastics are free from toxic substances and do not leach harmful substances into the food even at high temperatures. Corn-based plastics are made up from polylactic acid, which is a plastic replacement made from fermented plant starch, and is expected to quickly emerge as a popular alternative to traditional petroleum-based plastics. As corn-based plastics garner more attention as an environment-friendly alternative to traditional plastics, the global corn-based plastics for packaging market is expected to expand at a healthy CAGR, during the forecast period.
Global corn-based plastics for Packaging market: Dynamics
The major driver for the global corn-based plastics packaging market is the rising support given by the government, encouraging the incorporation corn-based plastics in place of conventional plastics. Amidst rising concerns regarding the pollution caused by the usage of conventional plastics, corn-based plastics have been widely regarded as an appropriate alternative. Due to the various benefits of corn-based plastics mentioned above, it is anticipated that they will witness growth in the global packaging industry, during the forecast period. Growing awareness among the general population about the ecological impact of their lifestyle is another key driver for growth of the global corn-based plastics for packaging market. Corn-based plastics are being used in various end-use industries such as the food industry, pharmaceutical industry, agriculture industry and textile industry. Corn-based plastics have been developed to eliminate the problems caused by conventional plastics. Corn-based plastics are made from biodegradable feedstock, which means that they can degrade into the soil like any other organic matter. The global market for corn-based plastic packaging has been driven by the rising awareness among the global population regarding the adverse effect of conventional plastics which led to increased adoption of corn-based plastics among manufacturers rather than conventional plastics. Despite the positive outlook for growth, over the forecast period, there are certain factors that could hamper growth of the global corn-based plastics for packaging market. The same can be exemplified by the fact that polylactic acid, which is a corn-based plastic, does not biodegrade easily. Therefore, many experts have recommended the use of reusable container such as, backpacks, baskets, and cloth bags for grocery shopping. Such developments could hamper growth of the global corn-based plastics packaging market.
Global corn-based plastics for Packaging market: Segmentation
The Corn-Based Plastics packaging market has been segmented as follows –
On the basis of end-user industry, the global corn-based plastics for packaging market has been segmented as:
Global corn-based plastics for Packaging market: Geographical Outlook
The global corn-based plastics for packaging Market has been divided into seven regions as follows –
The European region is the current leader in the global corn-based packaging market. The European Union has been supportive of several environmental protection initiatives and several countries in Europe have adopted the usage of corn-based plastics for packaging due to its various advantages. On comparing the pricing between corn-based plastics and conventional plastics, corn-based plastics are more likely to be preferred rather than conventional plastics. Asia Pacific could make rapid progress in the global corn-based plastics for packaging market.
Global corn-based plastics for packaging market: Key Players
Some of the players operating in the global Corn-Based Plastics packaging market are – CornWare UK LTD, Natureworks LLC, and Klockner Pentaplast, among others.
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