New York, May 07, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Thermoplastic Starch (TPS) Market - Growth, Trends, and Forecast (2020 - 2025)" - https://www.reportlinker.com/p05891632/?utm_source=GNW


- Multiple technological constraints and exploitation of food sources as raw materials are expected to hinder the market growth.
- Currenlty Europe dominates the global thermoplastic starch market. However, over the forecast period, Asia-Pacific is likley to take over as the global leader in the thermoplastic starch market.

Key Market Trends
Bags Application to Drive the Market Growth

- Biodegradable and compostable thermoplastic starch produced from renewable natural raw materials is characteristic of high homogeneity degree, a favorable set of mechanical properties, and products made of it have good dimensional stability in application conditions.
- The environmental issues associated with the disposal of non-biodegradable materials have led to the development of biodegradable materials that exhibit maximum usage in packaging applications on a wide commercial scale.
- Biodegradable and compostable bags are made from plant-based materials, like cornstarch and wheat, as opposed to petroleum. Extrusion is majorly used in the manufacturing of carrier bags, non-fiber bags, waste-bags, vegetable bags, mulch films etc.
- BioBags manufactured by a key player, Novamont, is in particular made from an ingredient called Mater-Bi, which consists of biodegradable, corn starch, and compostable polyester and vegetable oils.
- The others segment is comparatively small and holds some niche applications, such as fibers, pots, clips and guides, and cutlery. However, this segment is estimated to grow substantially in the coming years owing to the advantages of TPS and the increasing R&D by the major players.

Asia-Pacific Region to Dominate the Market in the Coming Years

- China feeds 22% of the world’s population on 7% of the world’s land. The importance of agriculture and food in China is quite self-explanatory. It can be said that almost 70% of the world’s agricultural film production capacity is concentrated in China, and nearly 90% of Asia’s production capacity is in China.
- The packaging industry in China is expected to perform a tremendous growth with a CAGR of nearly 6.8% to reach CNY 2 trillion during the forecast period. Flexible plastic packaging could be witnessing high demand in China, in order to prevent future COVID-19 coronavirus outbreaks.
- The use of agricultural films had risen more than 150-fold from the last two decades. According to the Chinese Academy of Agricultural Sciences, the use of agricultural films is expected to cover over 22 million hectares by the end of the forecast period.
- The food processing industry in India is rapidly increasing with upcoming investments and governmental support. For instance, in November 2017, during the event, World Food India, it was estimated that the country may have a USD 10 billion investment up to the year 2020, along with a USD 33 billion investment, by 2024.
- In the past three decades, advancements in agricultural science and technology have led to great changes in agricultural production in India. Plastic mulch film has become an important agricultural material.
- Also, India is preparing for a complete phase-out of single-use plastic items by 2022, which is going to present many structural changes to the packaging and agricultural films market. This scenario is likely to propel the demand for TPS bags used for vegetable items, during the forecast period.

Competitive Landscape
The global thermoplastic starch (TPS) market is consolidated in nature with a few major players dominating a significant portion of the market. Some of the major companies are Novamont SpA, BIOTEC, Plantic (Kuraray), Biome Bioplastics Limited, and AGRANA Beteiligungs-AG among others.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Read the full report: https://www.reportlinker.com/p05891632/?utm_source=GNW

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