Bioplastics are likely to replace common plastics in various packaging applications in the Asia-Pacific, according to Frost & Sullivan.
The market analysts highlighted that bio-based plastics offer several potential benefits, including reduced dependence on fossil fuels and lower greenhouse gas emissions during manufacturing.
However, high prices, low scale-up of manufacturing, and worries over moisture absorption, low heat deflection temperature, and reduced resistance against chemical attacks are holding back the potential.
The study covered poly-lactic acid (PLA), polyhydroxyalkanoates (PHA), and starch-based polymers, which are bioplastics derived from renewable sources.
The Asia-Pacific biorenewable materials market is estimated to grow at more than 19% per annum till 2018 and market earned revenues are expected to reach $167m by the same period.