Global Biodegradable Plastics Market Size to Grow by USD 22.28 billion | Industry Trends and Forecast to 2029

Global biodegradable plastics market was valued at USD 7.70 billion in 2021 and is expected to reach USD 22.28 billion by 2029, registering a CAGR of 14.20% during the forecast period of 2022-2029.

Key Pointers Covered in Global Biodegradable Plastics Market Industry Trends and Forecast to 2029

·        Market Size

·        Market New Sales Volumes

·        Market Replacement Sales Volumes

·        Market Installed Base

·        Market By Brands

·        Market Procedure Volumes

·        Market Product Price Analysis

·        Market Regulatory Framework and Changes

·        Market Shares in Different Regions

·        Recent Developments for Market Competitors

·        Market Upcoming Applications

·        Market Innovators Study

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Global Biodegradable Plastics Market Scope and Market Size

The biodegradable plastics market is segmented on the basis of product type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

·        Polylactic Acid (PLA)

·        Starch Blends

·        Biodegradable Polyesters

·        Polyhydroxyalkanoates (PHA)

·        Others

Application

·        Packaging and Bags

·        Consumer Goods

·        Agriculture and Horticulture

·        Textile

·        Others

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 Some of the key questions answered in this report:

·        How has the Global Biodegradable Plastics Market performed so far and how will it perform in the coming years?

·        What has been the impact of COVID-19 on the Global Biodegradable Plastics Market?

·        What are the key regional markets?

·        What is the breakup of the market based on the procedure?

·        What is the breakup of the market based on the injury location?

·        What is the breakup of the market based on the end user?

·        What are the various stages in the value chain of the industry?

·        What are the key driving factors and challenges in the industry?

·        What is the structure of the Global Biodegradable Plastics Market and who are the key players?

·        What is the degree of competition in the industry?

Market Analysis and Insights: Global Biodegradable Plastics Market

·        Biodegradable plastics are made from petroleum and renewable raw materials like corn, wheat, bamboo, and sugarcane. Microorganisms such as fungi and bacteria degrade them into water, biomass, and carbon dioxide (CO2). As a result, they are used in a variety of ways, ranging from flexible packing materials for various food products to extruded, injection-molded in traditional machines.

·        The worldwide Global Biodegradable Plastics Market report first introduces the market basics like definitions, classifications, applications and industry chain overview, and then industry policies and plans, product specifications, manufacturing processes, cost structures and so on. This market report directs business in right direction by giving insights about products, market, customers, competitors and marketing strategy at right time. A lot of hard work has been put together and no stone is left unturned while generating this market research report. The significant Global Biodegradable Plastics Market document covers an array of aspects of the market analysis which today’s businesses call for.

·        Over the last few years, governments have increasingly focused on green procurement policies, which is also acting as a key determinant favoring the growth of the biodegradable plastics market.  For instance, the German government announced in 2020 that from July 2021, single-use plastic products such as cutlery, straws, food containers, and other similar products will be prohibited from being sold in the country. Moreover, the various advantages of biodegradable plastic over non-degradable and non-decomposable plastic as non-degradable plastic creates major waste management problems such as water and land air pollution, largely contributing to the expansion of biodegradable plastics market.

·        It has become the necessity of this rapidly changing market place to take up such Global Biodegradable Plastics Market report that makes aware about the market environment. It highlights public demands, competencies and the constant growth of the working industry, vibrant reporting, or high data protection services while analysing market information about Chemical and Materials industry. According to the report, the global market is anticipated to witness a relatively higher growth rate during the forecast period. A first-rate Global Biodegradable Plastics Market research report surely provides productive ideas with which product can be made more effective and striking in the competitive market.

·        The packaging and bags accounted for the largest share in the biodegradable plastics market over the forecast year owing to the stringent government regulations implemented across the packaging sector. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

·        The worldwide demand for biodegradable plastics is being fueled by the excessive use of disposable single-use plastics and their negative impact on the environment and human health. Plastics are one of the most pressing environmental concerns, as they are made from petroleum take decades to degrade and end up in landfills. Biodegradable plastics degrade quickly and are absorbed into the environment. Furthermore, when compared to traditional plastics, biodegradable plastics decompose faster. According to data published by the European Environment Agency in January 2021, nearly 40% of respondents said they planned to adopt more sustainable behavior in the future. As a result, rising environmental concerns are expected to drive the biodegradable plastics market.

Global Biodegradable Plastics Market Country Level Analysis

The countries covered in the biodegradable plastics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Global Biodegradable Plastics Market Share Analysis

The biodegradable plastics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to biodegradable plastics market.

Key player Global Biodegradable Plastics Market

·        BASF SE (Germany)

·        NatureWorks LLC (U.S.)

·        TT Global Chemical Public Company Limited (Thailand)

·        Total Energies (Netherlands)

·        Novamont S.p.a. (Italy)

·        Fkur (Germany), Dupont (U.S.)

·        Biome Bioplastics (U.K.)

·        Mitsubishi Chemical Holding Corporation (Japan)

·        Toray Industries Inc., (Japan)

·        Dow (U.S.)

·        Plantic (Australia)

·        TianAn Biologic Materials Co., Ltd. (China)

·        Danimer Scientific (U.S.)

·        Evonik Industries AG (Germany)

·        Eastman Chemical Company (U.S.)

·        DAIKIN (Japan)

·        SOLVAY (Belgium)

MAJOR TOC OF THE REPORT

·        Chapter One: Introduction

·        Chapter Two: Market Segmentation

·        Chapter Three: Market Overview

·        Chapter Four: Executive Summary

·        Chapter Five: Premium Insights

·        Chapter Six: Global Biodegradable Plastics Market Share by Product & Procedure type

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