Biodegradable Plastics Market Overview
The global Biodegradable Plastics Market was valued at USD 4.10 billion in 2021 and is projected to increase at a CAGR of 10.02% from 2023 to 2030.
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 | 2023–2030 |
| Base year considered | 2023 |
| Forecast period | 2024–2030 |
| 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, Cargill Incorporated, PTT MCC Biochem Co., Ltd., Synbra Technology BV, Futerro, Eastman Chemical Company, Mitsubishi Chemical Holding Corporation, Trineso. |
The Covid-19 Impact on the Biodegradable Plastics Market:
Like several different industries, COVID-19 badly knocked the electronic and semiconductor trade. This new event has compacted 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 has 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 the packaging industry because of superior properties like high mechanical strength and low toxicity.
By End Users, 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 sector makes enormous demand for biodegradable plastics. a number of the key packaging applications are in textiles, food & drink, goods, and prescription drugs. The evolving lifestyles of the customers combined with the booming sales of prepacked food worldwide have 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, and RoW. The expansion of the easy plastics market in APAC is attributed to the straightforward availability of raw materials to manufacture biodegradable plastics. the longer-term growth of perishable plastics in APAC depends on the awareness of the easy 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 of 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
· Cargill Incorporated
· PTT MCC Biochem Co., Ltd.
· Synbra Technology BV
· Futerro
· Eastman Chemical Company
· Mitsubishi Chemical Holding Corporation
· Trineso
Frequently Asked Questions (FAQ) :
Q1. What is the total CAGR expected to be recorded for the Biodegradable Plastics market during the forecast period?
Biodegradable Plastics market is expected to record a CAGR of ~ 10.02% during the forecast period.
Q2. Which segment is projected to hold the largest share in the Biodegradable Plastics Market?
PLA is projected to hold the largest share in the Biodegradable Plastics Market
Q3. What are the driving factors for the Biodegradable Plastics market?
Improving client awareness regarding sustainable plastic solutions and increasing efforts to eliminate the use of non-biodegradable conventional plastics is key factors that boost the growth of the Biodegradable Plastics market progressively
Q4. Which Segments are covered in the Biodegradable Plastics market report?
Grade and Application, and Region, these segments are covered in the Biodegradable Plastics market report.
Q5. Which are the prominent players offering Biodegradable Plastics ?
BASF, NatureWorks, Total Corbion, Novamont, Biome Bioplastics, Mitsubishi Chemical Holding Corporation, Toray Industries, Plantic Technologies, Danimer Scientific, Fkur Kunstsoff, Cargill Incorporated, PTT MCC Biochem Co., Ltd., Synbra Technology BV, Futerro, Eastman Chemical Company, Mitsubishi Chemical Holding Corporation, Trineso
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Biodegradable Plastics Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Type
- 5.2.1. PLA
- 5.2.2. Starch Blends,
- 5.2.3. PHA,
- 5.2.4. Biodegradable Polyesters
- 5.3. Market Analysis, Insights and Forecast – By Application
- 5.3.1. Packaging,
- 5.3.2. Consumer Goods,
- 5.3.3. Textile,
- 5.3.4. Agriculture & Horticulture
- 5.4. Market Analysis, Insights and Forecast – By Region
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Latin America, Middle East, and Africa
6. North America Biodegradable Plastics Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Type
- 6.2.1. PLA
- 6.2.2. Starch Blends
- 6.2.3. PHA
- 6.2.4. Biodegradable Polyesters
- 6.3. Market Analysis, Insights and Forecast – By Application
- 6.3.1. Packaging,
- 6.3.2. Consumer Goods,
- 6.3.3. Textile,
- 6.3.4. Agriculture & Horticulture
- 6.4. Market Analysis, Insights and Forecast – By Country
- 6.4.1. U.S.
- 6.4.2. Canada
7. Europe Biodegradable Plastics Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Type
- 7.2.1. PLA,
- 7.2.2. Starch Blends,
- 7.2.3. PHA,
- 7.2.4. Biodegradable Polyesters
- 7.3. Market Analysis, Insights and Forecast – By Application
- 7.3.1. Packaging,
- 7.3.2. Consumer Goods,
- 7.3.3. Textile,
- 7.3.4. Agriculture & Horticulture
- 7.4. Market Analysis, Insights and Forecast – By Country
- 7.4.1. UK
- 7.4.2. Germany
- 7.4.3. France
- 7.4.4. Italy
- 7.4.5. Spain
- 7.4.6. Russia
- 7.4.7. Rest of Europe
8. Asia Pacific Biodegradable Plastics Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Type
- 8.2.1. PLA,
- 8.2.2. Starch Blends,
- 8.2.3. PHA,
- 8.2.4. Biodegradable Polyesters
- 8.3. Market Analysis, Insights and Forecast – By Application
- 8.3.1. Packaging,
- 8.3.2. Consumer Goods,
- 8.3.3. Textile,
- 8.3.4. Agriculture & Horticulture
- 8.4. Market Analysis, Insights and Forecast – By Country
- 8.4.1. China
- 8.4.2. India
- 8.4.3. Japan
- 8.4.4. Australia
- 8.4.5. South East Asia
- 8.4.6. Rest of Asia Pacific
9. Latin America, Middle East, and Africa Biodegradable Plastics Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Type
- 9.2.1. PLA,
- 9.2.2. Starch Blends,
- 9.2.3. PHA,
- 9.2.4. Biodegradable Polyesters
- 9.3. Market Analysis, Insights and Forecast – By Application
- 9.3.1. Packaging,
- 9.3.2. Consumer Goods,
- 9.3.3. Textile,
- 9.3.4. Agriculture & Horticulture
- 9.4. Market Analysis, Insights and Forecast – By Country
- 9.4.1. Brazil
- 9.4.2. Saudi Arabia
- 9.4.3. UAE
- 9.4.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2021
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. BASF ,
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. NatureWorks ,
- 10.6. Total Corbion
- 10.7. Novamont
- 10.8. Biome Bioplastics
- 10.9. Mitsubishi Chemical Holding Corporation
- 10.10. Toray Industries
- 10.11. Plantic Technologies
- 10.12. Danimer Scientific
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
