Global Biodegradable Plastics Market Opportunities and Forecast 2020-2027

Global Biodegradable Plastics Market, By Type (PLA, Starch Blends, Biodegradable Polyesters), By End User (Packaging, Consumer Goods, Textile, Agriculture & Horticulture) and opportunities and forecast 2020-2027

Biodegradable Plastics Market Overview

Improving client awareness regarding sustainable plastic solutions and increasing efforts to eliminate the use of non-biodegradable conventional plastics contribute to the market growth of biodegradable plastics. traditionally used petroleum-based plastics take decades to break down or degrade and lay within the landfills for a long biodegradable. perishable plastics break down when they a long area unit discarded and are absorbed into the natural system. additionally, the speed of decomposition of biodegradable plastics by the activities of microorganisms is much faster than that of traditional plastics.
 
Biodegradable plastics break down hour and additional within 180 days or less as compared with ancient plastics, that take around 1,000 years to break down. Increasing landfills and waste piles have emerged as serious environmental hazards and resulted in varied adverse effects on the flora and fauna of the system. The growing consumer awareness concerning these adverse effects (arising from the use of traditional plastics) is encouraging the use of biodegradable plastics. Therefore, the shift in consumer preference toward the use of eco-friendly plastic products is driving the market for biodegradable plastics.
 
The higher cost of biodegradable plastics than that of traditional polymers restrains the market's growth in several application segments. Generally, the production price of perishable plastics is 20-80% beyond that of standard plastics. this is often primarily due to the high polymerization price of biodegradable plastics as most of the processes are still within the development stage and thence, haven't achieved economies of scale.

Report Metric	Details
Market size available for years	2019–2027
Base year considered	2019
Forecast period	2020–2027
Forecast unit	Value (USD Million)
Segments covered	Type, Application and Region
Regions covered	North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA)
Companies covered	BASF , NatureWorks , Total Corbion , Novamont , Biome Bioplastics, Mitsubishi Chemical Holding Corporation ,Toray Industries ,Plantic Technologies ,Danimer Scientific ,Fkur Kunstsoff.

The covid-19 Impact on Biodegradable Plastics Market:

Like several different industries, COVID-19 badly knocked the electronic and semiconductor trade. This new event has compact nearly 230 countries in exactly a couple of weeks, leading to the forced conclusion of producing and transportation activities at intervals and across the countries. This has directly affected the expansion of the sector. It's calculable that COVID-19 to depart over USD thirty billion impacts on the physics and semiconductor trade. The arena is majorly affected thanks to transport restrictions on major physics and semiconductor staple suppliers. However, the rising want for semiconductors in many industries can supply fast market recovery over the longer-term amount.
 
Biodegradable Plastics Market Segment Overview



By Type, Poly lactic acid-based biodegradable plastics dominate the biodegradable plastics market. this is due to industry scale application in packaging industry because of superior properties like high mechanical strength and low toxicity.
 
By End User, Agriculture, packaging, textile, injection moulding et al are the major applications of biodegradable plastics within the market. Packaging trade leads out of all the application-based segment, some of sector makes enormous demand for biodegradable plastics. a number of the key packaging applications are in textiles, food & drink, goods, and prescription drugs. Evolving lifestyles of the customers combined with the booming sales of prepacked food worldwide has raised the requirement for biodegradable plastics within the packaging sector.
 
Market Analysis, Insights and Forecast – By Type
·       PLA,
·       Starch Blends,
·       PHA,
·       Biodegradable Polyesters

Market Analysis, Insights and Forecast – By End User
·       Packaging,
·       Consumer Goods,
·       Textile,
·       Agriculture & Horticulture
 
Biodegradable Plastics Market Regional Overview

Region-wise, in terms of regions, the biodegradable plastics market has been segmented into APAC, Europe, North America, RoW. the expansion of the easy plastics market in APAC is attributed to the straightforward availability of raw materials want to manufacture biodegradable plastics. the longer-term growth of perishable plastics in APAC extremely depends on the awareness the easy the utilization of biodegradable plastics as a viable alternative to traditional plastics and reduction.

Biodegradable Plastics Market, By Geography

·       North America (US & Canada)
·       Europe (UK, Germany, France, Italy, Spain, & Rest of Europe)
·       Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
·       LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
 
Biodegradable Plastics Market Competitor overview

Some key developments and strategies adopted by manufacturers in the Biodegradable Plastics are highlighted below.
 
·       In 2021, Danimer Scientific inc., a famous bioplastics firm focused on developing biodegradable materials, acquired Novomer opposition., a well known developer of the conversion technology that gives useful, transformable, low net carbon inputs to provide PHA-based resins and similar biodegradable materials.
 
Biodegradable Plastics Market, Key Players

·       BASF ,
·       NatureWorks ,
·       Total Corbion
·       Novamont
·       Biome Bioplastics
·       Mitsubishi Chemical Holding Corporation
·       Toray Industries
·       Plantic Technologies
·       Danimer Scientific
·       Fkur Kunstsoff

Frequently Asked Questions (FAQ) :

Q1. What is the total CAGR expected to be recorded for the Biodegradable Plastics market during the forecast period?

Q2. Which segment is projected to hold the largest share in the Biodegradable Plastics Market?

Q3. What are the driving factors for the Biodegradable Plastics market?

Q4. Which Segments are covered in the Biodegradable Plastics market report?

Q5. Which are the prominent players offering Biodegradable Plastics ?