The growing demand of the Biodegradable Plastics in the packaging sector and the increased application in agricultural applications will boost the Biodegradable Plastics market growth.
The global Biodegradable Plastics Market is forecast to reach USD 9.85 Billion by 2027, according to a new report by Reports and Data. The production of biodegradable plastics is generally using renewable raw materials. The Biodegradable Plastics market is being fueled by constant regulations imposed on single-use plastics, due to the environmental concerns such as the occupation of space in landfills forever. These wastes are consisting of mostly toxic materials. The burning of these materials breeds toxicity in the environment; such factors promote biodegradable plastic use and result in high demand.
Market Size – USD 3.40 Billion in 2019, Market Growth – CAGR of 14.28%, Market Trends – High demand in the Packaging industry.
The industry is facing specific challenges; there is no clear distinction between bio-degradable plastic, hence with the inclusion of non-biodegradable plastic in biodegradable landfills beats the purpose of biodegradability. The high cost of biodegradable plastics is one of the factors that may restrain the Biodegradable Plastics market growth. Considering the economic slowdown, the depleting disposable income may pose a threat to the growth of the Biodegradable Plastics market. Biodegradable plastics decompose over time, but they require specific conditions for decomposition, which may not be available in every landfill; this raises questions about biodegradable plastics’ efficiency.
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To gain a deeper understanding of the Biodegradable Plastics market, the report further provides an exhaustive analysis of the competitive landscape, including profiling of the competitors, revenue, % revenue market share, and technological and product advancements. The report also explores the new entrants, strategic alliances and collaborations, mergers, acquisitions, partnerships, agreements, and deals of the established companies. The report also sheds light on the government policies and their amendments related to the Biodegradable Plastics market.
Key Manufacturers of the Biodegradable Plastics Market Studied in the Report are:
- BASF SE,
- Total Corbion PLA,
- Mitsubishi Chemical Corporation,
- Biome Bioplastics,
- Novamont S.P.A,
- Plantic Technologies,
- Danimer Scientific,
- and Toray Industries,
- among others.
Biodegradable Plastics Market Segmentation based on Product Types:
- Starch Blends
- Biodegradable Polyesters
Biodegradable Plastics Market Segmentation based on End-Use:
- Consumer Goods
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Regional Analysis of the Biodegradable Plastics Market Includes:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Major Highlights of the Global Biodegradable Plastics Market Report:
- The study analyzes the various manufacturing processes of the products offered by this industry, alongside determining their respective market shares and contribution to the overall business development.
- It offers critical insights related to the production capacity, estimated growth, and revenues amassed by each regional segment over the projected timeframe.
- The report encompasses crucial information, for instance, product pricing patterns, total revenue generated, and anticipated growth rate of each product and application type.
- The report further emphasizes the product portfolios of each of these companies and the respective specifications and applications of these products.
- Production capacity, manufacturing costs, gross margins, pricing models, and revenue shares of these companies have also been discussed at the end of this report.
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