Biodegradable Plastics Market was valued US$ 2.63 Bn. in 2021 and is estimated to grow at CAGR of 15.1%, to reach US$ 8.10 Bn. by 2029 during the forecast period.
Biodegradable Plastics Market Overview
The Biodegradable Plastics Market Report covers detailed about the market trends, pricing analysis, and short-term market analysis. Biodegradable Plastics Market performing specific actions or carrying out desired effects during the process, The Biodegradable Plastics market serves a variety of services the products is sourced from both primary and secondary sources, considering all possible factors that could influence the Biodegradable Plastics market. The report covers future trends that are expected to drive the Biodegradable Plastics market growth.
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Biodegradable Plastics Market Report Scope and Research Methodology
The global Biodegradable Plastics Market is analyzed through segments including product type, applications, category, and region. The Biodegradable Plastics Market report covers the key players in the Biodegradable Plastics industry, including company profile, revenue, product specifications, product sales, price, gross margin sales, market share, and an in-depth analysis of the Biodegradable Plastics market. The report covers competitive analysis of market drivers, restraints, opportunities, and growth. PORTER and PESTLE analyses were conducted to analyze the impact of microeconomic and macroeconomic factors on the market.
Biodegradable Plastics Market Regional Insights
The Biodegradable Plastics market has experienced various trends, impacting its growth. These trends include increasing popularity and product innovation and market expansion. The report provides a comprehensive overview of the Biodegradable Plastics market, focusing on major producing regions. The market for Biodegradable Plastics in North America grows as demand for minimally invasive procedures rises and consumer awareness rises. The dominance of Biodegradable Plastics market continues to rise, and an aging population fuels market expansion.
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Biodegradable Plastics Market Segmentation
by Type
• Starch Blends
• Polybutylene Succinate PBS
• Polylactide PLA
• Polybutylene adipate/terephthalate PBAT
• Polyhydroxyalkanoates PHA
• Others (Cellulose Derivatives and Regenerated Cellulose)
Based on type, the market is anticipated to develop at a 10.4% CAGR during the forecast period, with the starch-based segment dominating the market. Plastics made from starch are frequently employed in consumer goods sectors like transportation, agriculture, and packaging. Additionally, starch-based polymers are employed as an alternative to petroleum-based ones since they are extremely biodegradable and help reduce carbon emissions. The price of PLA is comparatively affordable to other types of plastic, which is a major driver in its rapid rise, particularly in the European region.
by Application
• Packaging & Bags
• Consumer Goods
• Agriculture & Horticulture
• Textile
• Others (Automotive and Building & Construction)
Based on application, the packaging industry earned the most money in 2021, and it is predicted that it would continue to develop at a CAGR of during the projected period. Increased demand and utilisation of biodegradable plastic packaging in the textile, consumer goods, food & beverage, textile, and pharmaceutical industries is the main driver fueling the market’s expansion over the anticipated period. The usage of biodegradable plastics in agriculture was further aided by evolving lifestyles and increased farmer understanding of greenhouse farming for the production of vegetables and fruits.
Biodegradable Plastics Market Key Players
• NatureWorks
• BASF
• Total Corbion PLA
• Mitsubishi Chemical
• Biome Bioplastics
• Plantic Technologies
• Bio-On
• Danimer Scientific
• Novamont S.p.A
• Toray Industries
• DowDuPont Inc
• Eastman Chemical Company
• Mondi PLC
• Amcor Limited
• Kruger Inc.
• Tetra Pak International SA
• Plastic Suppliers Inc.
• Stora Enso
• WestRock
• Archer Daniels Midland
• Perstorp, K.D
• FEDDERSEN
• UrthPact, LLC
• Indochine Bio Plastiques (ICBP) Sdn. Bhd.
Key questions answered in the Biodegradable Plastics Market are:
- What is Biodegradable Plastics?
- What was the Biodegradable Plastics market size in 2022?
- What are the global trends in the Biodegradable Plastics Market?
- What are the major challenges that the Biodegradable Plastics Market could face in the future?
- How is the intervention from regulatory authority is shaping the Biodegradable Plastics Market?
- What growth strategies are the players considering to increase their presence in Automotive Relay Market?
- Who held the largest market share in the Biodegradable Plastics Market?
- Which regional Biodegradable Plastics market is expected to grow rapidly during the forecast period?
Key Offerings:
- Market Overview
- Market Share, Size & Forecast by Revenue | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Regional Insights
- Market Segmentation – A detailed analysis of segments and sub-segments
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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