Biodegradable Plastics are those that decompose with carbon dioxide and water under the actions of microbes. They are usually manufactured by fermentation of sugar or canola oil to provide polylactic acid (PLA) or polyhydroxyalkanoates (PHA) that in turn converted into biodegradable plastics. Packaging bags are the most significant and fastest-growing end-use business of biodegradable plastics. The latest applications of biodegradable plastics in the packaging industry are diaper business, adult incontinence products, and landfill covers. The Europe biodegradable plastics size was around USD 3.24 billion in 2020 and is estimated to grow at a CAGR of 10.1% to reach USD 5.25 billion by 2025.
A pioneering latest project funded by the European Union will bring developed bio-based plastic solutions to the market, offering viable substitutes to single-use plastics. SEALIVE will combine its advanced bioplastic solutions with cutting-edge processing technology and develop sustainable business models for their employment.
On 11 December 2019, the European Commission (EC) published the much-awaited Communication on the European Green Deal that highlights the latest EU leadership’s climate and sustainability ambitions.
Market drivers and restraints:
The Europe biodegradable plastics market is estimated to showcase a much quicker expansion in comparison to the plastics bundling market. The biodegradable plastics market is a moderately latest market anyway. It has to first catch the present speed of the non-biodegradable plastic bundling market. The food packaging and beverage package sector is likely to offer a major push in driving the regional biodegradable packaging market. The stringent government regulations related to the ban of typical plastic products further strengthens the demand in the Europe biodegradable plastics market.
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Report segmented as:
• polyhydroxyalkanoates (PHA)
• polylactic acid (PLA)
• polybutylene succinate (PBS)
• polycaprolactone (PCL)
• starch-based plastics
• regenerated cellulose
By end user:
• injection moulding
Based on the geography, the Europe biodegradable plastics market has been segregated into the regions namely, Spain, France, Germany, United Kingdom and Italy. Europe is the biggest customer of biodegradable plastics worldwide, holding more than 30% share of the global share. The high expansion in the region is owing to stringent implementation of environmental rules that prohibits the employment of petroleum- based plastics in end-user applications.
Important market players:
Major players operating in the Europe high Biodegradable Plastics market are BASF SE (Germany), Corbion (Netherland), Biome Technologies PLC (U.K.), Mitsubishi Chemical Corporation (Japan), NatureWorks LLC (U.S.), BIO-ON (Italy), FKuR Kunststoff GmbH (Germany), Cardia Bioplastics Limited (Australia), Cereplast Inc (U.S), Plantic Technologies Ltd (Australia) and others.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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