Biodegradable Plastics Market Overview:
Market Research Future (MRFR) perceives the growth of the global biodegradable plastics market to be healthy at a CAGR of 8.4% over the forecast period of 2018-2022. The global biodegradable plastics market is likely to attain a valuation of USD 16.8 Bn by the end of 2022.
On the flip side, the cost of production of biodegradable plastics is comparatively higher than conventional plastics. Besides, the lack of technology and cost-effectiveness are key challenges which restrict the growth of the global biodegradable plastics market. Meanwhile, volatility in the price of petroleum can present lucrative growth opportunities to the global biodegradable plastics market.
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Study Objectives of Biodegradable Plastics Market:
To provide detailed analysis of the market structure along with forecast for the next 7 years of the various segments and sub-segments of the Global Biodegradable Plastics Market
To understand the supply and demand dynamics including supply and consumption concentration mapping
To provide region level market analysis and future outlook for North America, Europe, Asia, and Rest of the World (ROW) and their countries
To provide competitor positioning of the market
To provide company profiling of major players in the market along with their production and capacity
To provide regional trade analysis
To evaluate historical market trends, patents and technologies, and current government regulatory requirements that are relevant to the market
Biodegradable Plastics Market Key Players:
BASF SE, NatureWorks LLC, Corbion, BIO-ON, Novamont S.p.A, Jinhui Zhaolong High Technology, SK Chemicals, Far Eastern New Century Corporation, Lotte Fine Chemical Co., Ltd., WILLEAP, Cardia Bioplastics Limited, Cereplast Inc among others are some of the prominent players at the forefront of competition in the Global Biodegradable Plastic Market and are profiled in MRFR Analysis.
Biodegradable Plastics Market Regional Analysis:
Geographically, Europe region accounted for the largest market share in the global biodegradable plastic and is estimated to dominate over the forecast period on account of growing awareness, stringent regulation regarding the use of non-biodegradable material, greater adoption rate, and high penetration of end user industries in the region.
Moreover, Europe accounted for the largest market share followed by North America in terms of value and volume. In the past few years, increasing in research & development as well as high adoption rate from end use industries has given a new momentum for the market growth. In addition to this, increasing automobile production and sales along with rising usage of biodegradable plastic is predicted to fuel the demand for biodegradable plastic over the assessment period.
APAC is an emerging market for biodegradable plastics. The high cost associated with the production of biodegradable plastics and a low level of consumer awareness in the region are factors prohibiting the growth of the market. There is a high usage of petroleum-based plastics in region, however, new regulations in developing countries of the region aimed at promoting the use of biodegradable plastics are likely to bode well for the growth of the APAC market.
Biodegradable Plastics Market Table of Content to be Continue…….,
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