Global biodegradable plastics market was valued at USD 7.70 billion in 2021 and is expected to reach USD 22.28 billion by 2029, registering a CAGR of 14.20% during the forecast period of 2022-2029.
Key Pointers Covered in Biodegradable Plastics Market Industry Trends and Forecast to 2029
• Market Size
• Market New Sales Volumes
• Market Replacement Sales Volumes
• Market Installed Base
• Market By Brands
• Market Procedure Volumes
• Market Product Price Analysis
• Market Regulatory Framework and Changes
• Market Shares in Different Regions
• Recent Developments for Market Competitors
• Market Upcoming Applications
• Market Innovators Study
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Benefits of Considering this Report
• This report is compiled using a vigorous and thorough research methodology. Data Bridge Market Research is also known for its data accuracy and granular market reports.
• A complete picture of the competitive scenario of Biodegradable Plastics Market is depicted by this report.
• The report consists of a vast amount of data about the recent product and technological developments in the markets.
• The insights in the report are easy to understand and include a graphical representation of the numbers in the form of histograms, bar graphs, pie charts, etc.
Biodegradable Plastics Market Scope and Market Size
The biodegradable plastics market is segmented on the basis of product type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
• Polylactic Acid (PLA)
• Starch Blends
• Biodegradable Polyesters
• Polyhydroxyalkanoates (PHA)
• Others
Application
• Packaging and Bags
• Consumer Goods
• Agriculture and Horticulture
• Textile
• Others
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Some of the key questions answered in this report:
• How has the Biodegradable Plastics Market performed so far and how will it perform in the coming years?
• What are the key regional markets?
• What is the breakup of the market based on the procedure?
• What is the breakup of the market based on the injury location?
• What is the breakup of the market based on the end user?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the Biodegradable Plastics Market and who are the key players?
• What is the degree of competition in the industry?
Market Analysis and Insights: Biodegradable Plastics Market
• Biodegradable plastics are made from petroleum and renewable raw materials like corn, wheat, bamboo, and sugarcane. Microorganisms such as fungi and bacteria degrade them into water, biomass, and carbon dioxide (CO2). As a result, they are used in a variety of ways, ranging from flexible packing materials for various food products to extruded, injection-molded in traditional machines.
• The worldwide demand for biodegradable plastics is being fueled by the excessive use of disposable single-use plastics and their negative impact on the environment and human health. Plastics are one of the most pressing environmental concerns, as they are made from petroleum take decades to degrade and end up in landfills. Biodegradable plastics degrade quickly and are absorbed into the environment. Furthermore, when compared to traditional plastics, biodegradable plastics decompose faster. According to data published by the European Environment Agency in January 2021, nearly 40% of respondents said they planned to adopt more sustainable behavior in the future. As a result, rising environmental concerns are expected to drive the biodegradable plastics market.
• Furthermore, the mulching films and plant pots are made from biodegradable plastics in the agriculture and horticulture industries. This, combined with the growing use of agricultural products in the burgeoning food and beverage (F&B) sector and growing use in food packaging and compostable bags applications and the rapidly increasing glass industry are the key factors driving market expansion. The increased use of biodegradable plastics in packaging and agriculture is also expected to contribute to the segment's growth.
• Over the last few years, governments have increasingly focused on green procurement policies, which is also acting as a key determinant favoring the growth of the biodegradable plastics market. For instance, the German government announced in 2020 that from July 2021, single-use plastic products such as cutlery, straws, food containers, and other similar products will be prohibited from being sold in the country. Moreover, the various advantages of biodegradable plastic over non-degradable and non-decomposable plastic as non-degradable plastic creates major waste management problems such as water and land air pollution, largely contributing to the expansion of biodegradable plastics market.
Biodegradable Plastics Market Country Level Analysis
The countries covered in the biodegradable plastics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Biodegradable Plastics Market Share Analysis
The biodegradable plastics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to biodegradable plastics market.
Key player Biodegradable Plastics Market
• BASF SE (Germany)
• NatureWorks LLC (U.S.)
• TT Global Chemical Public Company Limited (Thailand)
• Total Energies (Netherlands)
• Novamont S.p.a. (Italy)
• Fkur (Germany), Dupont (U.S.)
• Biome Bioplastics (U.K.)
• Mitsubishi Chemical Holding Corporation (Japan)
• Toray Industries Inc., (Japan)
• Dow (U.S.)
• Plantic (Australia)
• TianAn Biologic Materials Co., Ltd. (China)
• Danimer Scientific (U.S.)
• Evonik Industries AG (Germany)
• Eastman Chemical Company (U.S.)
• DAIKIN (Japan)
• SOLVAY (Belgium)
MAJOR TOC OF THE REPORT
• Chapter One: Introduction
• Chapter Two: Market Segmentation
• Chapter Three: Market Overview
• Chapter Four: Executive Summary
• Chapter Five: Premium Insights
• Chapter Six: Biodegradable Plastics Market Share by Product & Procedure type
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