Biodegradable Plastics Market Overview:
The global biodegradable plastics market is expected to reach a valuation of USD 16.8 billion by 2022, according to the latest research report from Market Research Future (MRFR). The global biodegradable plastics market is expected to exhibit a strong 8.4% CAGR over the forecast period from 2018 to 2022.
The global biodegradable plastics is mainly driven by the growing awareness about the ecological damage caused by the growing volume of plastic waste and the increasing government interventions in the area to offer solid support to efforts that aim to resolve the issue of plastic pollution at its roots. The discovery of biodegradable plastics dates back to the 1970s, since when the development of the biodegradable plastics has steadily gained steam as the world’s consumption of plastic materials has grown exponentially over the same time period. The growing volume of plastic waste has bent governments as well as public will, particularly in developed areas of the world, to take concrete steps towards eradicating the problem.
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Biodegradable Plastics Market Key Players:
Leading players in the global biodegradable plastics market include BASF SE, Biome Technologies PLC, NatureWorks LLC, FKuR Kunststoff GmbH, Cereplast Inc., Plantic Technologies Ltd., Cardia Bioplastics Limited, BIO-ON, Mitsubishi Chemical Corporation, and Corbion. Corbion, NatureWorks, and BASF are likely to hold on to major shares in the global biodegradable plastics market over the forecast period.
Biodegradable Plastics Market Segmentation:
Based on product type, the global biodegradable plastics market is segmented into polyhydroxyalkanoates (PHA), polylactic acid (PLA), polybutylene succinate (PBS), polycaprolactone (PCL), starch-based plastics, and regenerated cellulose. PLA-based biodegradable plastics are likely to dominate the global biodegradable plastics market over the forecast period due to the ease of developing them in comparison with other types of biodegradable plastics and their easy utility in the packaging industry.
By application, the global biodegradable plastics market is segmented into packaging, injection molding, agriculture, textiles, and others. The packaging industry is likely to dominate the global biodegradable plastics market over the forecast period due to the large volume of the demand for plastics from the packaging industry.
Biodegradable Plastics Market Regional Analysis:
Regionally, Europe is the largest segment of the global biodegradable plastics market, followed by North America. Governments in Europe, especially Western Europe, have been the pioneers in terms of adopting biodegradable plastics and providing regulatory support to their widespread adoption, which has seen the region account for the largest share in the global biodegradable plastics market in 2018. The U.S. and Canada are also likely to be among the leading consumers of biodegradable plastics over the forecast period due to the growing government support for environmental regulations.
On the other hand, Asia Pacific, led by China, is expected to exhibit major growth over the forecast period, as the growing Asian economies account for a leading share in the global volume of plastic waste, with China emerging as the leader in this regard since the turn of the decade. This is likely to motivate government actions aimed at reducing plastic waste and developing biodegradable plastics instead.
Biodegradable Plastics Market Table of Content:
1 Executive Summary
2 Scope of The Report
3 Market Research Methodology
4 Market Landscape
5 Industry Overview of Global Biodegradable Plastics Market
Biodegradable Plastics Market Table of Content to be Continue…….,
Biodegradable Plastics Market List of Table:
Table 1 World Population By Major Regions (2015 To 2030) (Billion)
Table 2 Global Biodegradable Plastics Market: By Region, 2014-2022 (USD Billion)
Table 3 North America Biodegradable Plastics Market: By Country, 2014-2022 (USD Billion)
Table 4 Europe Biodegradable Plastics Market: By Country, 2014-2022 (USD Billion)
Table 5 Asia-Pacific Biodegradable Plastics Market: By Country, 2014-2022 (USD Billion)
Biodegradable Plastics Market List of Table to be Continue…….,
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