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Automotive Heat Exchanger Market by Application (Air condition system, Exhaust gas heat exchanger, Intercooler, Oil cooler, & Radiator), Design Type, Electric Vehicle Type, Off-Highway Vehicle, Vehicle Type, Region - Global Forecast to 2025

April 2018 | 139 pages | ID: B28DBF2AC5EEN
MarketsandMarkets

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“Increase in demand for HVAC system in high-end commercial vehicles and off-highway vehicles is expected to propel the market for automotive heat exchangers in the coming years”

The global automotive heat exchanger market is estimated to be USD 19.21 billion in 2017 and is projected to reach USD 32.05 billion by 2025, growing at a CAGR of 6.61% from 2017 to 2025. The market growth is primarily driven by the increasing demand for HVAC system in high-end commercial vehicles and off-highway vehicles. However, the increasing demand for electric and hybrid vehicles is considered a restraint for the conventional engine cooling components such as radiator, EGR cooler and intercoolers.

“The intercooler segment is estimated to be the fastest growing segment, in terms of value, in automotive heat exchanger market, by application”

The automotive heat exchanger market for intercoolers is estimated to grow at the highest rate during the forecast period. The growing trend of engine downsizing without compromising performance and the rising demand for high-performance vehicles are compelling vehicle manufacturers to adopt technologies such as turbochargers and superchargers, which require intercoolers for their functioning.

“The Passenger car segment is estimated to be the largest segment, in terms of value, in the automotive heat exchanger market, by vehicle type”

By vehicle type, the passenger cars segment is estimated to hold the largest market share of the automotive heat exchanger market. The rise in production of passenger cars globally, high demand for premium vehicles and SUVs, and high performance expectation from personal vehicles are driving the passenger car segment. Moreover, the global demand for passenger cars is larger than that for commercial vehicles, and it is expected to grow further in the future. Additionally, factors such as the sizeable number of luxury light-duty vehicles in Europe and North America and the increasing demand for these vehicles in the Asia Pacific region are increasing the demand for automotive heat exchangers.

“Asia Pacific is estimated to be the fastest growing regional market for automotive heat exchangers in terms of volume”

Asia Pacific is estimated to be the fastest growing market for automotive heat exchangers during the forecast period. The region is home to emerging economies such as China and India as well as developed nations such as Japan. The growing purchasing power of consumers has triggered the demand for automobiles in the region. The growing number of luxury vehicles and the increasing demand for commercial and off-highway vehicles are propelling the growth of automotive heat exchangers in the region.

The study contains insights provided by various industry experts, ranging from automotive heat exchanger manufacturers to automobile OEMs and various automotive associations. The break-up of the primaries is as follows:
  • By Company Type: Tier I–63%, Tier II–25% and OEMs–12%
  • By Designation: C Level–38%, D Level–37% and Other –25%
  • By Region: Asia Pacific–38%, Europe–12%, North America–50%
Players profiled in the report are:
  • Denso (Japan)
  • Valeo (France)
  • Dana (US)
  • Mahle (Germany)
  • Hanon (South Korea)
  • Calsonic Kansei (Japan)
  • Sanden (Japan)
  • T. Rad (Japan)
  • Nippon Light Metal (Japan)
  • AKG (Germany)
Research Coverage

The report covers the automotive heat exchanger market by application (Air condition system, Exhaust gas heat exchanger, Intercooler, Oil cooler, & Radiator), Design Type (Plate Bar, Design Type & Others), Electric Vehicle Type (BEVs, HEVs, & PHEVs), Off-Highway vehicle (Agriculture Equipment & Construction Equipment), Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle) and region (Asia Pacific, Europe, North America, and Rest of the World).

Reasons to Buy the Report:

The report provides insights into the following points:
  • Market Penetration: The report provides comprehensive information on heat exchangers offered by the top players in the industry for the automotive market.
  • Product Development/Innovation: The report provides detailed insights into upcoming technologies, R&D activities, and new product launches in the automotive heat exchanger market.
  • Market Development: The report offers comprehensive information about heat exchanger market for automotive. The report analyzes the market for automotive heat exchangers across regions and provides comprehensive information about lucrative emerging markets.
  • Market Diversification: The report provides exhaustive information about emerging trends, market dynamics, and investments in the global heat exchanger market for automotive.
1 INTRODUCTION

1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
1.3 MARKET SCOPE
  1.3.1 MARKETS COVERED
  1.3.2 YEARS CONSIDERED FOR THE STUDY
1.4 CURRENCY
1.5 PACKAGE SIZE
1.6 LIMITATIONS
1.7 STAKEHOLDERS

2 RESEARCH METHODOLOGY

2.1 RESEARCH DATA
2.2 SECONDARY DATA
2.3 PRIMARY DATA
  2.3.1 SAMPLING TECHNIQUES & DATA COLLECTION METHODS
  2.3.2 PRIMARY PARTICIPANTS
2.4 DATA TRIANGULATION
2.5 FACTOR ANALYSIS
  2.5.1 INTRODUCTION
  2.5.2 DEMAND-SIDE ANALYSIS
    2.5.2.1 Growing vehicle production
  2.5.3 SUPPLY-SIDE ANALYSIS
    2.5.3.1 Focus of OEMs on improving engine performance
2.6 MARKET SIZE ESTIMATION
2.7 ASSUMPTIONS

3 EXECUTIVE SUMMARY

4 PREMIUM INSIGHTS

4.1 ATTRACTIVE OPPORTUNITIES IN THE AUTOMOTIVE HEAT EXCHANGER MARKET
4.2 AUTOMOTIVE HEAT EXCHANGER MARKET, BY REGION
4.3 AUTOMOTIVE HEAT EXCHANGER MARKET, BY COUNTRY
4.4 AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION
4.5 AUTOMOTIVE HEAT EXCHANGER MARKET, BY ELECTRIC VEHICLE
4.6 AUTOMOTIVE HEAT EXCHANGER MARKET, BY VEHICLE TYPE
4.7 AUTOMOTIVE HEAT EXCHANGER MARKET, BY OFF-HIGHWAY VEHICLE
4.8 AUTOMOTIVE HEAT EXCHANGER MARKET, BY DESIGN TYPE

5 MARKET OVERVIEW

5.1 INTRODUCTION
5.2 MARKET DYNAMICS
  5.2.1 DRIVERS
    5.2.1.1 Increasing adoption of HVAC system in high-end CV and OHV
  5.2.2 RESTRAINTS
    5.2.2.1 Increasing demand for electric and hybrid vehicles will eliminate the need for conventional engine cooling component
  5.2.3 OPPORTUNITIES
    5.2.3.1 Battery thermal management system
  5.2.4 CHALLENGES
    5.2.4.1 Upcoming emission norms pose a challenge for EGR and Intercoolers

6 AUTOMOTIVE HEAT EXCHANGER MARKET, BY DESIGN TYPE

6.1 INTRODUCTION
6.2 PLATE BAR
6.3 TUBE FIN
6.4 OTHERS

7 AUTOMOTIVE HEAT EXCHANGER MARKET, BY VEHICLE TYPE

7.1 INTRODUCTION
7.2 PASSENGER CAR
7.3 LIGHT COMMERCIAL VEHICLE
7.4 HEAVY COMMERCIAL VEHICLE

8 AUTOMOTIVE HEAT EXCHANGER MARKET, BY ELECTRIC VEHICLE

8.1 INTRODUCTION
8.2 BATTERY ELECTRIC VEHICLE (BEV)
8.3 HYBRID ELECTRIC VEHICLE (HEV)
8.4 PLUG-IN HYBRID ELECTRIC VEHICLE (PHEV)

9 AUTOMOTIVE HEAT EXCHANGER MARKET, BY OFF-HIGHWAY VEHICLE TYPE

9.1 INTRODUCTION
9.2 AGRICULTURAL EQUIPMENT
9.3 CONSTRUCTION EQUIPMENT

10 AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION AND REGION

10.1 INTRODUCTION
10.2 ASIA PACIFIC
  10.2.1 CHINA
  10.2.2 INDIA
  10.2.3 JAPAN
  10.2.4 SOUTH KOREA
10.3 EUROPE
  10.3.1 FRANCE
  10.3.2 GERMANY
  10.3.3 ITALY
  10.3.4 SPAIN
  10.3.5 UK
10.4 NORTH AMERICA
  10.4.1 CANADA
  10.4.2 MEXICO
  10.4.3 US
10.5 REST OF THE WORLD
  10.5.1 BRAZIL
  10.5.2 RUSSIA
  10.5.3 SOUTH AFRICA

11 COMPETITIVE LANDSCAPE

11.1 OVERVIEW
11.2 MARKET RANKING ANALYSIS
11.3 COMPETITIVE SITUATION & TRENDS
  11.3.1 NEW PRODUCT DEVELOPMENTS
  11.3.2 EXPANSIONS
  11.3.3 PARTNERSHIPS/SUPPLY CONTRACTS/COLLABORATIONS/ JOINT VENTURES
  11.3.4 ACQUISITIONS/AGREEMENTS

12 COMPANY PROFILES

(Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
12.1 DENSO
12.2 VALEO
12.3 DANA
12.4 MAHLE
12.5 HANON
12.6 CALSONIC KANSEI
12.7 SANDEN
12.8 T.RAD
12.9 NIPPON LIGHT METAL
12.10 AKG
*Details on Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies

13 APPENDIX

13.1 DISCUSSION GUIDE
13.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
13.3 AVAILABLE CUSTOMIZATIONS
  13.3.1 ADDITIONAL COMPANY PROFILES
    13.3.1.1 Business overview
    13.3.1.2 SWOT analysis
    13.3.1.3 Recent developments
    13.3.1.4 MnM view
  13.3.2 DETALED ANALYSIS OF HEAT EXCHANGERS BY AUTOMOTIVE APPLICATION
  13.3.3 DETALED ANALYSIS OF HEAT EXCHANGERS BY ELECTRIC VEHICLE
13.4 RELATED REPORTS
13.5 AUTHOR DETAILS

LIST OF TABLES

TABLE 1 CURRENCY EXCHANGE RATES (WRT USD)
TABLE 2 AUTOMOTIVE HEAT EXCHANGER MARKET SIZE, BY DESIGN TYPE, 2015–2025 (MILLION UNITS)
TABLE 3 AUTOMOTIVE HEAT EXCHANGER MARKET SIZE, BY DESIGN TYPE, 2015–2025 (USD MILLION)
TABLE 4 PLATE BAR: AUTOMOTIVE HEAT EXCHANGER MARKET SIZE, BY REGION, 2015–2025 (MILLION UNITS)
TABLE 5 PLATE BAR: AUTOMOTIVE HEAT EXCHANGER MARKET SIZE, BY REGION, 2015–2025 (USD MILLION)
TABLE 6 TUBE FIN: AUTOMOTIVE HEAT EXCHANGER MARKET SIZE, BY REGION, 2015–2025 (MILLION UNITS)
TABLE 7 TUBE FIN: AUTOMOTIVE HEAT EXCHANGER MARKET SIZE, BY REGION, 2015–2025 (USD MILLION)
TABLE 8 OTHERS: AUTOMOTIVE HEAT EXCHANGER MARKET SIZE, BY REGION, 2015–2025 (MILLION UNITS)
TABLE 9 OTHERS: AUTOMOTIVE HEAT EXCHANGER MARKET SIZE, BY REGION, 2015–2025 (USD MILLION)
TABLE 10 AUTOMOTIVE HEAT EXCHANGER MARKET, BY VEHICLE TYPE, 2015–2025 (MILLION UNITS)
TABLE 11 AUTOMOTIVE HEAT EXCHANGER MARKET, BY VEHICLE TYPE, 2015–2025 (USD MILLION)
TABLE 12 PASSENGER CAR: AUTOMOTIVE HEAT EXCHANGER MARKET, BY REGION, 2015–2025 (MILLION UNITS)
TABLE 13 PASSENGER CAR: AUTOMOTIVE HEAT EXCHANGER MARKET, BY REGION, 2015–2025 (USD MILLION)
TABLE 14 LIGHT COMMERCIAL VEHICLE: AUTOMOTIVE HEAT EXCHANGER MARKET, BY REGION, 2015–2025 (MILLION UNITS)
TABLE 15 LIGHT COMMERCIAL VEHICLE: AUTOMOTIVE HEAT EXCHANGER MARKET, BY REGION, 2015–2025 (USD MILLION)
TABLE 16 HEAVY COMMERCIAL VEHICLE: AUTOMOTIVE HEAT EXCHANGER MARKET, BY REGION, 2015–2025 (MILLION UNITS)
TABLE 17 HEAVY COMMERCIAL VEHICLE: AUTOMOTIVE HEAT EXCHANGER MARKET, BY REGION, 2015–2025 (USD MILLION)
TABLE 18 AUTOMOTIVE HEAT EXCHANGER MARKET, BY ELECTRIC VEHICLE, 2015–2025 (MILLION UNITS)
TABLE 19 AUTOMOTIVE HEAT EXCHANGER MARKET, BY ELECTRIC VEHICLE, 2015–2025 (USD MILLION)
TABLE 20 BATTERY ELECTRIC VEHICLE (BEV): AUTOMOTIVE HEAT EXCHANGER MARKET, BY REGION, 2015–2025 (MILLION UNITS)
TABLE 21 BATTERY ELECTRIC VEHICLE (BEV): AUTOMOTIVE HEAT EXCHANGER MARKET, BY REGION, 2015–2025 (USD MILLION)
TABLE 22 HYBRID ELECTRIC VEHICLE (HEV): AUTOMOTIVE HEAT EXCHANGER MARKET, BY REGION, 2015–2025 (MILLION UNITS)
TABLE 23 HYBRID ELECTRIC VEHICLE (HEV): AUTOMOTIVE HEAT EXCHANGER MARKET, BY REGION, 2015–2025 (USD MILLION)
TABLE 24 PLUG-IN HYBRID ELECTRIC VEHICLE (PHEV): AUTOMOTIVE HEAT EXCHANGER MARKET, BY REGION, 2015–2025 (MILLION UNITS)
TABLE 25 PLUG-IN HYBRID ELECTRIC VEHICLE (PHEV): AUTOMOTIVE HEAT EXCHANGER MARKET, BY REGION, 2015–2025 (USD MILLION)
TABLE 26 AUTOMOTIVE HEAT EXCHANGER MARKET, BY OFF-HIGHWAY VEHICLE TYPE, 2015–2025 (MILLION UNITS)
TABLE 27 AUTOMOTIVE HEAT EXCHANGER MARKET, BY OFF-HIGHWAY VEHICLE TYPE, 2015–2025 (USD MILLION)
TABLE 28 AGRICULTURAL EQUIPMENT: AUTOMOTIVE HEAT EXCHANGER MARKET, BY REGION, 2015–2025 (MILLION UNITS)
TABLE 29 AGRICULTURAL EQUIPMENT: AUTOMOTIVE HEAT EXCHANGER MARKET, BY REGION, 2015–2025 (USD MILLION)
TABLE 30 CONSTRUCTION EQUIPMENT: AUTOMOTIVE HEAT EXCHANGER MARKET, BY REGION, 2015–2025 (MILLION UNITS)
TABLE 31 CONSTRUCTION EQUIPMENT: AUTOMOTIVE HEAT EXCHANGER MARKET, BY REGION, 2015–2025 (USD MILLION)
TABLE 32 AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (MILLION UNITS)
TABLE 33 AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (USD MILLION)
TABLE 34 AUTOMOTIVE HEAT EXCHANGER MARKET, BY REGION, 2015–2025 (MILLION UNITS)
TABLE 35 AUTOMOTIVE HEAT EXCHANGER MARKET, BY REGION, 2015–2025 (USD MILLION)
TABLE 36 ASIA PACIFIC: AUTOMOTIVE HEAT EXCHANGER MARKET, BY COUNTRY, 2015–2025 (MILLION UNITS)
TABLE 37 ASIA PACIFIC: AUTOMOTIVE HEAT EXCHANGER MARKET, BY COUNTRY, 2015–2025 (USD MILLION)
TABLE 38 CHINA: AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (MILLION UNITS)
TABLE 39 CHINA: AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (USD MILLION)
TABLE 40 INDIA: AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (MILLION UNITS)
TABLE 41 INDIA: AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (USD MILLION)
TABLE 42 JAPAN: AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (MILLION UNITS)
TABLE 43 JAPAN: AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (USD MILLION)
TABLE 44 SOUTH KOREA: AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (MILLION UNITS)
TABLE 45 SOUTH KOREA: AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (USD MILLION)
TABLE 46 EUROPE: AUTOMOTIVE HEAT EXCHANGER MARKET, BY COUNTRY, 2015–2025 (MILLION UNITS)
TABLE 47 EUROPE: AUTOMOTIVE HEAT EXCHANGER MARKET, BY COUNTRY, 2015–2025 (USD MILLION)
TABLE 48 FRANCE: AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (MILLION UNITS)
TABLE 49 FRANCE: AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (USD MILLION)
TABLE 50 GERMANY: AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (MILLION UNITS)
TABLE 51 GERMANY: AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (USD MILLION)
TABLE 52 ITALY: AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (MILLION UNITS)
TABLE 53 ITALY: AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (USD MILLION)
TABLE 54 SPAIN: AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (MILLION UNITS)
TABLE 55 SPAIN: AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (USD MILLION)
TABLE 56 UK: AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (MILLION UNITS)
TABLE 57 UK: AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (USD MILLION)
TABLE 58 NORTH AMERICA: AUTOMOTIVE HEAT EXCHANGER MARKET, BY COUNTRY, 2015–2025 (MILLION UNITS)
TABLE 59 NORTH AMERICA: AUTOMOTIVE HEAT EXCHANGER MARKET, BY COUNTRY, 2015–2025 (USD MILLION)
TABLE 60 CANADA: AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (MILLION UNITS)
TABLE 61 CANADA: AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (USD MILLION)
TABLE 62 MEXICO: AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (MILLION UNITS)
TABLE 63 MEXICO: AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (USD MILLION)
TABLE 64 US: AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (MILLION UNITS)
TABLE 65 US: AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (USD MILLION)
TABLE 66 REST OF THE WORLD: AUTOMOTIVE HEAT EXCHANGER MARKET, BY COUNTRY, 2015–2025 (MILLION UNITS)
TABLE 67 REST OF THE WORLD: AUTOMOTIVE HEAT EXCHANGER MARKET, BY COUNTRY, 2015–2025 (USD MILLION)
TABLE 68 BRAZIL: AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (MILLION UNITS)
TABLE 69 BRAZIL: AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (USD MILLION)
TABLE 70 RUSSIA: AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (MILLION UNITS)
TABLE 71 RUSSIA: AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (USD MILLION)
TABLE 72 SOUTH AFRICA: AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (MILLION UNITS)
TABLE 73 SOUTH AFRICA: AUTOMOTIVE HEAT EXCHANGER MARKET, BY APPLICATION, 2015–2025 (USD MILLION)
TABLE 74 NEW PRODUCT DEVELOPMENTS, 2014–2017
TABLE 75 EXPANSIONS, 2014–2017
TABLE 76 PARTNERSHIPS/SUPPLY CONTRACTS/COLLABORATIONS/JOINT VENTURES, 2014–2017
TABLE 77 ACQUISITIONS/AGREEMENTS, 2013–2015

The report "Bioplastics & Biopolymers Market by Type ( Non-biodegradable, Biodegradable), End-use Industry (Packaging, Consumer Goods, Automotive, Textiles, Agriculture) and Region (APAC, North America, Europe, and RoW) - Trends & Forecast to 2023" The Bioplastics & Biopolymers market is projected to grow from USD 6.95 billion in 2018 to USD 14.92 billion by 2023, at a CAGR of 16.5% from 2018 to 2023. Increasing demand for bioplastics from the packaging industry, favorable government policies, increase in waste management regulations in Europe, and increasing concern for human health are projected to drive the bioplastics & biopolymers market. Increase in regulations is expected to propel the growth rate of the market.

Major companies profiled in this report include:

NatureWorks (US), Braskem (Brazil), Novamont (Italy), BASF (Germany), Total Corbion PLA (Netherlands), Biome Bioplastics (UK), Bio-On (Italy), Toray Industries (Japan), Plantic Technologies (Australia), and Mitsubishi Chemical Corporation (Japan) among others. These players have established a strong foothold in the market by adopting strategies such as investment & expansion, new product launch, agreement, partnership & joint venture, and merger & acquisition.

The report offers insights on bioplastics & biopolymers used in various end-use industries across regions. It aims at estimating the size of the bioplastics & biopolymers market during the forecast period and projects future growth of the market across different segments, such as type, end-use industry, and region. The report also includes an in-depth competitive analysis of the key players in the bioplastics & biopolymers market, along with their company profiles, SWOT analysis, recent developments, and key market strategies.

This study was validated through primaries conducted with various industry experts worldwide. The primary sources were divided into three categories, namely, company type, designation, and region.

  • By Company Type – Tier 1: 35%, Tier 2: 35%, and Tier 3: 30%
  • By Designation - C Level: 40%, Director Level: 40%, and Others: 20%
  • By Region - North America: 20%, Europe: 20%, APAC: 50%, and RoW: 10%

On the basis of end-use industry, packaging is estimated to lead the bioplastics & biopolymers market in 2018

Packaging is the largest end-use industry for bioplastics & biopolymers. The need for sustainable solutions has encompassed several industry verticals, including food & beverage. In addition, enhanced industrial & manufacturing technologies have enabled the food & beverage companies to incorporate bioplastics in packaging. The demand for packaging made from bioplastics for wrapping organic food as well as for premium and branded products is on the rise. Preference for packaging materials made from natural or organic polymers, derived from biomass sources, such as fats, oils, starch, and microbiota, is driving the market in the packaging end-use industry.

On the basis of sub-type, bio-PET is projected to register the highest CAGR during the forecast period

Bio-PET is the most widely used sub-type of non-biodegradable bioplastics & biopolymers. Owing to its high durability that matches its fossil fuel-based counterpart, it is expected to witness a high growth during the forecast period. Bio-PET can be used in the same applications, such as bottles and flexible films, as served by its counterparts. Rising consumption of beverages coupled with regulations imposed by various governments to reduce emissions in countries such as Japan, Canada, and the US contribute to the growth of the bio-PET market. In addition, strategies of companies such as PepsiCo and Coca-Cola toward sustainable packaging for carbonated soft drinks is also likely to drive the bio-PET segment.

On the basis of region, Europe is estimated to lead the bioplastics & biopolymers market in 2018

Europe is the largest bioplastics & biopolymers market and is one of the major producers of plastics. It is also one of the leading packaging markets, globally. These factors have been responsible for the development of bio-based plastics with collaborative research, which, in turn, is expected to transform Europe’s plastics industry. The political and economic conditions have also driven the market penetration of bioplastics & biopolymers. The EU Commission has focused on the Lead Markets Initiative where bioplastics have been identified as one of the most important potential markets. Europe has, thus, become one of the major consumers of bioplastics & biopolymers.



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