The biodegradable polymers global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Biodegradable Polymers Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The biodegradable polymers market size has grown rapidly in recent years. It will grow from $6.58 billion in 2023 to $7.78 billion in 2024 at a compound annual growth rate (CAGR) of 18.4%. The growth in the historic period can be attributed to growth in e-commerce, growth in the healthcare sector, growth in initiatives promoting circular economy practices, rise in demand from the cosmetics industry, and increasing investments in research and development.
The biodegradable polymers market size is expected to see rapid growth in the next few years. It will grow to $15.35 billion in 2028 at a compound annual growth rate (CAGR) of 18.5%. The growth in the forecast period can be attributed to increasing industrialization, growing demand for eco-friendly materials, rising packaging industry, increasing demand for sustainable packaging, and increasing environmental regulations. Major trends in the forecast period include technological advancements, adoption of life cycle assessments, hybrid materials, 3D printing, and algae-based biodegradable polymers.
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The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The expansion of the agricultural sectors is expected to propel the growth of the biodegradable polymer market going forward. Agricultural sectors refer to the various segments of agriculture, including crop production, livestock farming, forestry, fisheries, and agribusiness, each focused on producing food, raw materials, and related products. Agricultural sectors are expanding due to rising global demand for food driven by population growth, advancements in farming technologies, increased investment in sustainable practices, and the growing need for bio-based materials. Biodegradable polymers are required in agricultural sectors to reduce plastic waste, improve soil health, and promote sustainability by providing eco-friendly alternatives for products such as mulch films, seed coatings, and packaging. For instance, in September 2024, according to a report published by the United States Department of Agriculture, a US-based government agency, agriculture, food, and related industries contributed approximately $1.53 trillion to the U.S. gross domestic product (GDP) in 2023, representing 5.6 % of the total. Therefore, expanding the agricultural sectors is driving the growth of the biodegradable polymer market.
Market Trends –
Major companies operating in the biodegradable polymers market are focused on developing soil conditioners to improve soil structure, enhance water retention, boost nutrient availability, and promote better root development. A soil conditioner is a material added to soil to improve its physical characteristics, including structure, water retention, and nutrient availability, promoting plant growth and improving soil health. For instance, in August 2024, Hydroplan-EB, a UK-based manufacturer of biodegradable polymers and superabsorbent polymers, launched HYB PLUS biodegradable polymer. Hydroplan-EB’s biodegradable polymers are designed with additives that enhance rooting and promote successful establishment during planting and transplanting. These polymers improve initial plant development while minimizing the need for replanting. Key benefits include elevated nitrogen levels, organic carbon, and enzymes that help mitigate the physiological stress often associated with transplanting.
The biodegradable polymers market covered in this report is segmented –
1) By Type: Starch-Based, Polylactic Acid (PLA), Polyhydroxy Alkanoates (PHA), Polyesters, Cellulose Derivatives
2) By Substrate: Paper And Paperboard, Cellulose Films, Other Substrates
3) By Application: Agriculture, Textile, Consumer Goods, Packaging, Healthcare, Other Applications
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Regional Insights –
Asia-Pacific was the largest region in the biodegradable polymers market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the biodegradable polymers marker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the biodegradable polymers marker are BASF SE, Mitsubishi Chemical Group Corporation, Merck Group, Evonik Industries AG, Solvay S.A., Koninklijke DSM N.V., Smurfit Kappa Group plc, Sulzer Ltd., Toyobo Co. Ltd., Corbion N.V., Green Dot Bioplastics Inc., Kaneka Belgium N.V., Danimer Scientific Inc., Polysciences Inc., Sulapac Ltd., TIPA Corp Ltd., Natur-Tec, TotalEnergies Corbion B.V., BioBag International AS, Futerro S.A., Cereplast Inc.
Table of Contents
1. Executive Summary
2. Biodegradable Polymers Market Report Structure
3. Biodegradable Polymers Market Trends And Strategies
4. Biodegradable Polymers Market – Macro Economic Scenario
5. Biodegradable Polymers Market Size And Growth
…..
27. Biodegradable Polymers Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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