Global Biodegradable Plastics Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
MarketResearch.biz delivers in-depth insights on the global biodegradable plastics market in its upcoming report titled, “Global Biodegradable Plastics Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2027”. The global biodegradable plastics market is estimated to register a CAGR of X.X% in terms of value during forecast period 2017–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global biodegradable plastics market report has been segmented on the basis of product type, application, and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Biodegradable plastic is a type of material that can be decomposed by living organisms such as bacteria. It is commonly made using raw materials or petrochemicals. Plastic made with petrochemicals contain biodegradable additives that helps in the process of decomposition. Biodegradable plastic takes less time to break down as it is made up of eco-friendly material. This material also requires very less energy for production and it is easily recyclable. Biodegradable plastic does not have harmful effects on the environment and they do not affect other living organisms from soil and water.
Growing environmental awareness and rising popularity of ecofriendly packaging material are major factors anticipated to boost the demand of biodegradable plastics and drives the growth of the global biodegradable plastics market. Advantages of biodegradable plastic over non-degradable and non-decomposable plastic as non-degradable plastic creates major waste management problems and are causing land, water, air pollution, which also propel the growth of the global market. Stringent rules and regulations by various regulatory authorities and governments on the usage of conventional plastic non-degradable plastic, also bolster the use of biodegradable plastics and drives the market growth over the forecast period. Ongoing research and development activities to create more efficient, biodegradable packaging and growing adoption of ecofriendly alternatives among consumer are factors expected to drive expected to drive the growth of the global market in the near future.
However, high cost and less durability of the biodegradable plastics product is a factor expected to hamper the growth of the global biodegradable plastics market.
Development of a new range of low cost and highly resistant, biodegradable plastic products can create higher revenue opportunities for target players in the market.
The Europe accounts for largest market share in terms of revenue, owing to the presence of major manufacturing companies in the region and rising environmental concerns. The North America is expected to account for a second-highest share in terms of revenue, due to increasing environmental awareness among individuals in the region. The market in Asia Pacific region is anticipated to register a significant growth in terms of revenue over the forecast period, owing to stringent government rules against the use of non-degradable plastic and rising popularity of ecofriendly products among individuals.
Global Biodegradable Plastics Market Segmentation:
Segmentation by product type:
- Polylactide (PLA)
- Regenerated Cellulose
- Poly-epsilon- caprolactone (PCL)
- Polyhydroxyalkanoates (PHA)
- Starch Blends
- Polybutylene Succinate (PBS)
Segmentation by application:
- Biodegradable Electronics
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Metabolix Inc.
- BASF SE
- Corbion N.V.
- Natureworks LLC
- Biome Technologies plc
- Mitsubishi Chemical Corporation
- Plantic Technologies Limited
- FKuR Kunststoff GmbH
- Natur-Tec India Private Limited
- Bio-On SpA
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