India Sustainable Biopolymers Market, By Material Type (Bio-based Polyethylene, Bio-based Polypropylene (Bio-PP), Polylactic Acid (PLA), Polyhydroxyalkanoates (PHA), Bio-based Polyethylene Terephthalate (Bio-PET), and Others), By Application (Packaging, Agriculture & Horticulture, Textiles, Automotive, Electronics, and Others)

Published In : Aug 2024

Code : CMI7275

Pages :110

Formats :

Excel and PDF

Industry : Polymers and Resins

Market Concentration and Competitive Landscape

India Sustainable Biopolymers Market Concentration By Players

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Government support and regulations

The government of India has been proactively supporting development as well as usage of bioplastics and other biopolymers through various initiatives and regulatory mandates. In the recent budget announcements, special incentives have been proposed for companies investing in the commercial production of biodegradable polymers/fibers. Separate package for promoting research & development of new generation bioplastics has also been envisaged. While single-use plastics have been banned in many states, favorable policies are being introduced for bioplastics to provide an attractive alternative. For example, some states exempt bioplastics from the ban on plastics. Certification systems compliant with national and international standards are being established to differentiate between truly sustainable bioplastics and conventional plastics.

Currently bioplastics fall under different categories for taxation based on raw materials used. However, proposals are being evaluated to bring uniformity and also potentially lower the tax incidence on sustainable biopolymers produced locally. This would help Indian manufactures compete effectively in the global marketplace. Stringency of regulations on conventional plastics is also being raised incrementally through measures like prohibition on thin plastic bags and certain other petroleum-based plastics. Such moves are expected to make Indian market more conducive for large scale adoption of bioplastics. Overall, the proactive steps taken by the government signals a positive long-term outlook for growth of sustainable and innovative biopolymers industry in India.

Key Players Insights