BANGALORE, India, Nov. 3, 2020 /PRNewswire/ -- A new Biodegradable Plastics Market Research Report published on Valuates Reports in Chemical Industry Category. The report contains segmentation by Type (PBAT, PBS, PHA, PLA, and Starch Based), by Application (Agriculture, Injection Molding, Packaging, and Textile). It also covers Global Opportunity Analysis and Industry Forecast to 2025.
The Global Biodegradable Plastics Market is expected to grow from USD 4,587.94 Million in 2019 to USD 8,971.32 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 11.82%.
Major factors driving the growth of the biodegradable plastics market are strict government regulations banning the use of traditional plastics, raising people's incomes in emerging economies and increasing public perception of their ill-effects.
Bioplastics are a substitute for conventional petroleum-based plastics is perhaps the most comforting part of investing in bioplastics. Plastics are an integral part of manufacturing, as demand and markets are already developed.
The bioplastics serve as the main component in taking the plastics industry out of a wasteful linear economy and into a circular economy. Their increased use, not only in environmental and economic situations but also in terms of practical impacts, is expected to increase bioplastics market size.
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TRENDS INFLUENCING THE BIODEGRADABLE PLASTICS MARKET SIZE
Governments restricting the use of single-use plastic, coupled with the growing public perception of plastic waste's negative impact, are among the main factors that drive the biodegradable plastics market size. In addition, increases in the use of biodegradable plastics in packaging and agriculture are expected to complement the growth in the industry.
In an emerging need for lightweight materials, the automotive industry has been forced to let go of petroleum plastic and adapt biodegradable plastics in its operations in order to keep a check on carbon footprints and preserve environmental conservation. This growing adoption from the automotive industry is expected to fuel the growth of the biodegradable plastics market size.
Market development is adversely affected by the high cost of biodegradable plastic relative to its traditional counterparts. However, new bioplastics produced at lower prices from tropical fruit skins are expected to provide lucrative growth opportunities during the forecast period.
BIODEGRADABLE PLASTICS MARKET SHARE ANALYSIS
In 2019, Europe held the largest biodegradable plastics market share. It is expected that high awareness among people about the harmful effects of plastic waste combined with a ban on single-use plastics by the European Union would propel the demand over the forecast period.
During the forecast period, APAC is projected to be the fastest-growing market for biodegradable plastics. During the forecast period, India is expected to be the fastest-growing market for biodegradable plastics. The growth of the APAC market for biodegradable plastics is due to the easy availability of raw materials used to produce biodegradable plastics. Awareness about the use of biodegradable plastics as a viable alternative to conventional plastics and a decline in bioplastics prices are the major factors that are expected to increase the growth of the biodegradable market size.
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TOP COMPANIES IN THE BIODEGRADABLE PLASTICS MARKET
The biodegradable plastics market is fragmented, with major players dominating market share. New formulations that meet or exceed the performance requirements of conventional plastics are developed by bioplastic manufacturers. Bioplastic manufacturers are pushing costs down by maintaining scalability and resourcing materials correctly using Design for Manufacturing (DFM) practices when designing formulations.
Some of the top companies in the biodegradable plastics market include:
Biome Bioplastics Ltd
Mitsubishi Chemical Holdings Corporation
Total Corbion PLA
MARKET SEGMENTS & COVERAGE
This research report categorizes the Biodegradable Plastics to forecast the revenues and analyze the trends in each of the following sub-markets:
Market By Type
Market By Application
The Biodegradable Plastics Market studied across Agriculture, Injection Molding, Packaging, and Textile.
Market By Geography
the Biodegradable Plastics Market studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas region surveyed across Argentina, Brazil, Canada, Mexico, and the United States. The Asia-Pacific region surveyed across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, South Korea, and Thailand. The Europe, Middle East & Africa region surveyed across France, Germany, Italy, Netherlands, Qatar, Russia, Saudi Arabia, South Africa, Spain, United Arab Emirates, and the United Kingdom.
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● Polyhydroxyalkanoate (PHA) Market Report
The Polyhydroxyalkanoate (PHA) market size is projected to reach USD 75 million by 2026, from USD 45 million in 2020, at a CAGR of 9.0% during 2021-2026.
The PHA market size is driven by rising demand for biodegradable plastics fuelled by strict government regulations & policies against single-use plastics and trends in sustainable development and the circular economy.
The main market for PHA is Europe, followed globally by North America and APAC.
● Biodegradable Polymers Market Report
The Global Biodegradable Polymers Market size is expected to grow from USD 32,732.66 Million in 2019 to USD 49,758.41 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 7.22%.
Over the past three years, biodegradable polymers have seen rapid growth and are poised to make more inroads into markets historically dominated by conventional thermoplastics in the future.
The cost of biodegradable polymers has fallen dramatically, although regular thermoplastic prices have risen significantly at the same time. Now, with polymers like PET, certain groups of biodegradable polymers are price-competitive.
● Global Biodegradable Plastic Bags & Sacks Market Report
The Global Biodegradable Plastic Bags & Sacks Market size is expected to grow from USD 2,019.95 Million in 2019 to USD 2,978.03 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 6.68%.
● Global Polylactic Acid Market Report
The Global Polylactic Acid Market size is expected to grow from USD 1,096.31 Million in 2019 to USD 2,424.62 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 14.14% During the Forecast Period.
● Bioplastics Market Report
View Full Report: https://reports.valuates.com/market-reports/ALLI-Manu-1A1/bioplastics
To see the full list of related reports click on Biodegradable Plastics Market
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