Biodegradable Plastics Market Size is Forecasted to reach USD 12.80 Billion in 2028 | Reports And Data

The ‘Global Biodegradable Plastics Market Report,’ published by Reports and Data, offers a panoramic vision of the global Biodegradable Plastics markets. The report presents accurate details on market size and revenue growth rate over the forecast period. It expounds on the current industry scenario and offers a detailed assessment of the latest and emerging market trends. The report contains key industry statistics presented in a tabular format to give readers an exclusive picture of the global Biodegradable Plastics markets.

The latest industry analysis report offers in-depth information regarding the key segments and sub-segments of the global Biodegradable Plastics industry and emphasizes the current pandemic situation that has significantly disrupted the industry’s growth trend. Key dynamics impacting the market growth include drivers, restraints, opportunities, supply & demand ratios, emerging market trends, technological innovations, and value chain analysis. The report further highlights some major challenges, imminent risks and threats, and stringent government policies and regulations that are expected to impede market growth during the forecast period. The report is aimed at enabling readers to gain deep insights into the global Biodegradable Plastics market and its core mechanism and capitalize on the favorable market growth prospects. It further offers a concise summary of the Biodegradable Plastics market’s intensely competitive landscape and lists down the leading players in the market. This section of the report also highlights the strategic initiatives undertaken by these players for long-term business growth. According to the report, the global Biodegradable Plastics markets are projected to reach a whopping market size of USD 12.80 Billion in 2028 from USD 4.06 Billion in 2020, registering a robust 15.5?GR.

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Biodegradable Plastics Industry Overview

The global materials & chemicals industry revenue growth can be majorly attributed to increasing demand for essential consumer goods including soaps, detergents, and beauty & personal care products worldwide, rising preference for sustainable and eco-friendly raw materials, and growing use of advanced chemicals and raw materials in industries including agriculture, food & beverage industries, buildings & construction, automotive, packaging, and manufacturing industries. Other major factors driving the growth of this industry are rising pollution levels, increasing environmental awareness, increasing use of technologically advanced chemicals and materials, and rising demand for organic materials.

The global chemicals and materials have a wide range of application areas such as crop protection, animal nutrition, dietary supplements, preservatives, flame retardants, surface ingredients, active pharmaceutical ingredients, and matting agents among others. Population explosion along with rapid economic growth is expected to propel market growth. Moreover, the growing urbanization, rapid industrialization, and high investment in infrastructure development create market demand over the forecast period.

Top Companies Profiled in the Report: NatureWorks, BASF SE, Total Corbion PLA, Mitsubishi Chemical Corporation, Biome Bioplastics, Bio-On, Novamont S.P.A, Plantic Technologies, Danimer Scientific, and Toray Industries.

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Some Key Highlights in the Report

In December 2020, BASF SE and BillerudKorsnäs collaborated to develop a unique home-compostable paper laminate for flexible packaging. This multi-layer film is made of BASF’s biopolymer Ecovio and lamination adhesive Epotal Eco, as well as BillerudKorsnäs paper Conflex Silk. This multi-layer laminate can be used to produce wraps with individually adjusted barrier properties as all parts of the product are food-contact approved. All components used to develop the home-compostable paper laminate are certified home-compostable according to official European certification schemes. Moreover, this laminate extends the end-of-life options for multi-layer flexible packaging as it is organically recyclable and contains a high share of renewables.

The polylactic acid (PLA) segment is expected to account for the largest revenue share in the global biodegradable plastics market over the forecast period. New investments in the U.S. and Europe for PLA production, as well as rising application in various end-use industries such as consumer goods and packaging, would drive this segment’s growth in the near future.

The packaging segment is expected to account for the largest revenue share in the global biodegradable plastics market, owing to shifting consumer preference towards eco-friendly products. Manufacturers in the packaging industry are increasingly investing in research & development activities to produce more sustainable packaging solutions for lowering carbon footprint.

The biodegradable plastics market in Europe is expected to account for the largest revenue share over the forecast period. Implementation of various policies, subsidies, and initiatives by governments to promote the usage of biodegradable plastics for the development of the circular economy is expected to boost the market growth in this region during the forecast period.

Type Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)

Starch Blends

Polylactic Acid (PLA)

Biodegradable Polyesters

Polyhydroxyalkanoate (PHA)

Others

End-use Industry Outlook (Revenue, USD Billion; Volume, Kilo Tons, 2018-2028)

Packaging

Agriculture

Consumer Goods

Others

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Global Biodegradable Plastics Market Segmentation: Regional Outlook

North America

Latin America

Asia Pacific

Europe

Middle East & Africa

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