The total production capacity of bioplastics in the South American region was estimated at 0.80 million metric tons in 2015. The market is expected to grow at a CAGR of 29.5% during the forecast period.
The South American region currently holds the second largest regional market for bioplastics. Brazil accounts for 50% share of the total production capacity. The markets in Colombia, Chile and Argentina are also witnessing a high growth rate.
Bio plastics are majorly consumed in the packaging industry in the form of plastic bags and bottles. Other industries include consumer products, agriculture, catering, pharmaceuticals, textiles, etc. Some of the most widely used bio-plastics are polylactic acid (PLA) and PLA blends, starch extracts, bio-polyethylene (bio-PE) and polybutylene succinate.
Market Dynamics of the South American Bioplastics Market:
The South American market is segmented by bio and synthetic based biodegradables (aliphatic polyesters, starch based plastics, cellulose derivatives, polyanhydrides, poly vinyl alcohols and other biodegradable plastics), by non-bio based biodegradables, by origin (biobased plastics, synthetic biodegradables), by application (bottles and packaging, agriculture, automotive, construction, consumer products and others) and by geography (Brazil, Argentina, Columbia and others).
The key players in the South American bioplastics market are:
Key Deliverables in the Study: