Biodegradable plastics are mainly derived from corn, wheat and potato starch. Biodegradable plastics products are thermoplastic materials which are processed with the same machines traditionally used to process conventional plastics. Biodegradable plastic products physical and chemical properties are similar to those of traditional plastics, but it is completely biodegradable in different environments, just like pure cellulose.
The demand for bio-plastics, both biodegradable and non-biodegradable, makes it one of the fastest growing thermoplastic product types globally. Global demand is expected to reach over one billion pounds by 2012. Currently, the biodegradable segment of bioplastics is the largest segment of the bioplastics category, but it is projected to be displaced by the nonbiodegradable bioplastics group of products, which may or may not be 100% derived from biomass. Bioplastic products are generally a degradable plastic in which the degradation results from the action of naturally-occurring micro-organisms such as bacteria, fungi, and algae. A biodegradable plastic product is made from normal polymer; the same used in making plastic products but at the same time it also contains newly invented biodegradable plastic additives.
With increasing concerns over the use of plastics, sustainable alternatives to plastics are increasingly in demand. Biopolymers in general and bioplastics in particular, present one such sustainable alternative. Products and solutions based on bioplastics/biopolymers present exciting opportunities globally, and in India. Opportunities are present across a variety of industrial sectors that include packaging, water, beverages, insulation materials, specialty materials and more.
The bioplastic containers market in India is projected to grow at a compound annual growth rate (CAGR) of 44.8% between 2009 and 2015. Although the Indian market is beset with challenges such as low awareness that are typical of emerging markets, these hindrances can be overcome by concerted efforts at promoting the long-term environmental benefits of using bioplastic. The biodegradable plastics containers market is expected to grow from USD 3.02 billion in 2018 to reach USD 6.12 billion by 2023, at a CAGR of 15.1% between 2018 and 2023. On the other hand, the global market, distribution channels and other government departments and various forces are actively promoting this new technology. In the next two to three years, the market demand for biodegradable plastic will gradually become stronger. Entrepreneurs who invest in this project will be successful.
Few Indian major players are as under:
· Arihant Industries Ltd.
· Baroda Polyplast Ltd.
· Jain Plastics & Chemicals Ltd.
· Karwa Consolidated Mktg. Ltd.
· Paradise Plastics Enterprise Ltd.
· Shakun Polymers Ltd.
