Market Trends of Starch Polymer Industry
This section covers the major market trends shaping the Starch Polymer Market according to our research experts:
Increasing Demand from the Packaging Industry
- Starch-based polymers are widely used in the packaging industry, owing to its bio-degradable characteristics, and the market is expected to grow rapidly during the forecast period.
- Starch is naturally obtained from stable foods, like potatoes, wheat, corn, and rice, consisting of several glucose units linked by glycosidic bonds.
- Starch is mainly used in the manufacturing of biodegradable polymers by combining starch with synthetic polymers. For a polymer to be bio-degradable, the end-product should contain more than 60% of starch. By varying the starch content, the obtained product can either durable or biodegradable.
- Starch blended with polyesters produces starch bioplastics, which have similar properties to that of LDPE (low-density polyethylene). These bio-degradable starch polymers are used for sustainable packaging for medical, cosmetics, food, shopping bags, and electronic goods, as well as in logistics and agriculture, owing to its eco-friendly characteristics.
- The increase in demand for bio-degradable packaging in the packaging industry, owing to stringent environmental regulations, is expected to drive the market during the forecast period.
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The Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is expected to dominate the market for starch polymer during the forecast period, as a result of the increase in the demand from the packaging industry in countries, like India and China.
- The starch polymer as an elastomer is widely used in the packaging and textile industries. The growing demand for e-commerce in China is expected to drive the market for starch polymers during the forecast period.
- China's e-commerce market is dominated by Alibaba, whose market share is around 59%. The company's annual revenue in FY 2019 has seen 51% year-on-year growth and the growing e-commerce industry requires packaging solutions, and this is expected to drive the market during the forecast period.
- The Indian e-commerce industry is expected to reach USD 120 billion by 2020. The increase in penetration of the internet and the change in government policies allowing 100% foreign direct investments in the e-commerce sector are expected to boost the market
- The aforementioned factors, coupled with government support, are contributing to the increasing demand for starch polymer in the Asia-Pacific region during the forecast period.
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