With the growing environmental and social concerns such as climate change, plastic pollution and sustainability, there has been an increased demand for alternative materials. The plastic alternatives market is expected to grow from USD 5.6 Billion in 2019 to USD 11.3 Billion by 2024 at a CAGR of 12.9%. This growth can be attributed to the increasing demand for eco-friendly products, rising concerns regarding plastic waste, and the advancement in technology that has enabled the production of low-cost substitutes for plastics. Changemaking: Innovative Plastic Alternatives is an analytical guide to current trends in the plastic alternatives market. It provides insights into market size and forecasts, with data from 2018 and 2019 on industry revenue, sales revenue by segment, prices costs; suppliers of raw material and manufacturing cost; major end users; price trends; taxes rates incentives; import content analysis information; and value chain analysis information.
## What is Changemaking: Innovative Plastic Alternatives?
As the demand for eco-friendly products continues to grow, entrepreneurs and manufacturers are developing low-cost alternatives to plastics. The market is expected to grow at a CAGR of 12.9% over the forecast period. This can be attributed to the increasing demand for eco-friendly products, rising concerns regarding plastic waste, and the advancement in technology that has enabled the production of low-cost substitutes for plastics. The plastics alternatives market is segmented based on raw material: PET, PP, PS, PSO, and other. The PET segment is further sub-segmented into clear, colored, and opaque. PP is further sub-segmented into high-density and low-density. The market for plastics alternatives is further segmented based on end use: food and beverages, personal care products, construction and automotive, and others. Growing awareness about the impact of plastic waste on the environment and the need for sustainable substitutes for plastic products have encouraged the growth of the plastics alternatives market.
## Key Players in the Changemaking: Innovative Plastic Alternatives
The top five players in the Changemaking: Innovative Plastic Alternatives market are Eagle Polymer Corporation, Inc., NatureWorks LLC, Teijin Ltd., Biobest Corporation, and Advanced Polymer Systems. Eagle Polymer Corporation, Inc., NatureWorks LLC, Biobem Corporation, Advanced Polymer Systems, and Teijin Ltd. are engaged in the production of PET and PP substitutes. Eagle Polymer Corporation, Inc. is engaged in the production of PET and PP substitutes. The PET market is growing at a significant rate owing to increasing demand for PET-based products, such as food containers, drink bottles, bottles for cosmetics, packaging materials, etc. NatureWorks LLC is engaged in the production of PET and PP substitutes. The PET market is growing at a significant rate owing to increasing demand for PET-based products, such as food containers, drink bottles, bottles for cosmetics, packaging materials, etc. Biobest Corporation is engaged in the production of food additives, dietary supplements, and functional foods. The demand for functional foods, such as probiotics, vitamins, and minerals in the food industry is increasing the market demand for Biobest Corporation.
## Technology Overview
Technological advancements in the plastics alternatives market have enabled the production of low-cost alternatives to polyethylene (PE) and polypropylene (PP). For instance, the production of polycarbonate (PC) has risen by an average of 7% every year, which has enabled the production of substitutes for PP. This has been possible through the development of less expensive polymers. The introduction of low-cost polymers has helped to improve the affordability of polycarbonate. The market has also witnessed the rise in the demand for polyvinylidene fluoride (PVDF), which is a low-cost polymer substitute for polyethylene (PE). PVDF has extended the lifespan of PVC and polypropylene (PP) products by up to ten times. Other than this, the rise in demand for polyvinylidene fluoride (PVDF) has helped to reduce the cost of polyvinylidene fluoride (PVDF) on a large scale.
## Market Size and Forecast
The plastics alternatives market is expected to grow from USD 5.6 Billion in 2019 to USD 11.3 Billion by 2024 at a CAGD of 12.9%. This growth can be attributed to the increasing demand for eco-friendly products, rising concerns regarding plastic waste, and the advancement in technology that has enabled the production of low-cost substitutes for plastics. The PET market is growing at a CAGR of 12.2% from 2019 to 2024, owing to the rising demand for PET-based products, such as food containers, drink bottles, bottles for cosmetics, packaging materials, etc. The PP market is expected to grow at a CAGR of 9.5% from 2019 to 2024.
## Key Trends/Developments
– The introduction of low-cost polymers has helped to improve the affordability of polycarbonate.
– The market has also witnessed the rise in the demand for polyvinylidene fluoride (PVDF), which is a low-cost polymer substitute for polyethylene (PE).
– The rise in demand for polyvinylidene fluoride (PVDF) has helped to reduce the cost of polyvinylidene fluoride (PVDF) on a large scale.
– The growing demand for biodegradable plastics is expected to accelerate the growth of the Changemaking: Innovative Plastic Alternatives market.
– The rising awareness regarding the impact of plastic waste on the environment and the need for sustainable substitutes for plastic products are encouraging entrepreneurs and manufacturers to develop low-cost alternatives.
– The rising demand for biodegradable plastics is expected to accelerate the growth of the Changemaking: Innovative Plastic Alternatives market.
## Benefits of Changemaking: Innovative Plastic Alternatives
– The plastic alternatives market is expected to grow from USD 5.6 Billion in 2019 to USD 11.3 Billion by 2024 at a CAGR of 12.9%.
– Rising awareness regarding the impact of plastic waste on the environment and the need for sustainable substitutes for plastic products are encouraging entrepreneurs and manufacturers to develop low-cost alternatives.
– The rising demand for biodegradable plastics is expected to accelerate the growth of the Changemaking: Innovative Plastic Alternatives market.
– The growing demand for eco-friendly products, rising concerns regarding plastic waste, and the advancement in technology that has enabled the production of low-cost substitutes for plastics are expected to contribute to the growth of the plastics alternatives market.
## Key Questions Answered in this Report
– What is the market size and forecast?
– What are the segmentations of the plastics alternatives market?
– What are the key segments of the plastics alternatives market?
– What are the key factors driving the growth of the plastics alternatives market?
– What are the key challenges faced by the players in the Changemaking: Innovative Plastic Alternatives market?
– Who are the key players in the Changemaking: Innovative Plastic Alternatives market?
– What are the key trends/developments in the Changemaking: Innovative Plastic Alternatives market?
– What are the key issues/ trends expected to impact the development of the Changemaking: Innovative Plastic Alternatives market?
– What are the Porter’s five forces analysis to gauge the market?
## Key Findings
– Rising awareness regarding the impact of plastic waste on the environment and the need for sustainable substitutes for plastic products are expected to drive the growth of the plastics alternatives market.
– The growing demand for biodegradable plastics is expected to accelerate the growth of the Changemaking: Innovative Plastic Alternatives market.
– The rising awareness regarding the impact of plastic waste on the environment and the need for sustainable substitutes for plastic products are expected to contribute to the growth of the plastics alternatives market.
## Key Questions Answered in this Report
– What is the market size and forecast?
– What are the segmentations of the plastics alternatives market?
– What are the key segments of the plastics alternatives market?
– What are the key factors driving the growth of the plastics alternatives market?
– What are the key challenges faced by the players in the Changemaking: Innovative Plastic Alternatives market?
– Who are the key players in the Changemaking: Innovative Plastic Alternatives market?
– What are the key trends/developments in the Changemaking: Innovative Plastic Alternatives market
