Biodegradable Plastics (PLA, Starch Blends, Biodegradable Polyesters, PHA) Market - Global Forecast to 2023
DUBLIN, Oct. 26, 2018 /PRNewswire/ --
The "Biodegradable Plastics Market by Type, End Use Industry, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The market size of biodegradable plastics is expected to reach USD 6.12 billion by 2023 from USD 3.02 billion in 2018, at a CAGR of 15.1%.
Rising income of people in emerging economies, and high growth in the agriculture & horticulture, packaging & bags, and textile industries are the key factors driving the biodegradable plastics market.
The biodegradable plastics market is experiencing significant growth globally, due to the shift in consumer preference toward eco-friendly plastic products and increasing use in food packaging & compostable bags applications in emerging markets such as APAC and Rest of the World. The market is also growing as the increasing regulations and prohibitions against plastic bags and other plastic items are driving the market, worldwide.
Based on end-use industry, the biodegradable plastics market has been segmented into packaging & bags, consumer goods, agriculture & horticulture, textile, and others (automotive, medical, and building & construction). Packaging & bags is the largest and the fastest-growing end-use industry of biodegradable plastics. The new applications of biodegradable plastics in the packaging industry are diaper banking, adult incontinence products, and landfill covers. With several innovative products coming up, the use of biodegradable plastics in packaging is expected to increase further.
Biodegradable plastics are used for manufacturing bottles, loose-fill, cups, pots, bowls, flexible films, and other products. Thermoset plastics (soy polyurethanes and unsaturated polyester resins) and thermoplastics (PLA, starch blends, PBS, PHA, and cellulose) are the two types of biodegradable plastics mainly used in the packaging industry. Packaging products made from these plastics are mainly used in fresh food packaging and the packaging of dried snacks & candy, bakery goods, water & juice bottles, and meat trays, and coatings for beverages cups, and films & card stock.
Consumer goods is the second-largest end-use industry of biodegradable plastics. The major consumer goods considered under this segment are household appliances, electronic devices, and others. Electronic devices consist of parts such as casings, circuit boards, and data storage that are made from conventional plastics, as plastics offer durability, lightness, and mobility. The major consumer goods manufacturers are shifting their focus from traditional plastics to biodegradable plastics to reduce the negative impact on the environment. Biodegradable plastics are used for manufacturing consumer goods such as touch screen computer casings, loudspeakers, mobile casing, and vacuum cleaners.
Biodegradable Plastics Market
APAC is expected to be the fastest-growing market for biodegradable plastics during the forecast period. China and India are among the fastest-growing economies in the world. India is projected to continue to be the fastest-growing market for biodegradable plastics during the forecast period. The growth of the biodegradable plastics market in APAC is attributed to the easy availability of raw materials used to manufacture biodegradable plastics.
The future growth of biodegradable plastics in APAC highly depends on the awareness about the use of biodegradable plastics as a viable alternative to traditional plastics and price reduction. The biodegradable plastics market is growing at a significant rate. However, higher cost of biodegradable plastics than that of conventional plastics is restricting the growth.
Companies such as NatureWorks (US), BASF (Germany), Total Corbion PLA (Netherlands), Mitsubishi Chemical Corporation (Japan), and Biome Bioplastics (UK) are the major players operating in the global biodegradable plastics market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Biodegradable Plastics Market
4.2 Biodegradable Plastics Market, By Type
4.3 APAC Biodegradable Plastics Market, By Country and End-Use Industry
4.4 Biodegradable Plastics Market, By End-Use Industry Packaging & Bags Was the Largest Segment in 2017
4.5 Biodegradable Plastics Market, By Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Use in Food Packaging & Compostable Bags Applications
5.2.1.2 Shift in Consumer Preference Toward Eco-Friendly Plastic Products
5.2.1.3 Focus of Governments on Green Procurement Policies
5.2.2 Restraints
5.2.2.1 Higher Cost of Biodegradable Plastics Than That of Conventional Plastics
5.2.3 Opportunities
5.2.3.1 Emerging End-Use Industries of Biodegradable Plastics
5.2.4 Challenges
5.2.4.1 Performance Issues Related to Biodegradable Plastic
5.3 Porter's Five Forces Analysis
6 Biodegradable Plastics Market, By Type
6.1 Introduction
6.2 PLA
6.2.1 Increasing Use of PLA in Cold Products for Frozen Items and in Food Packaging to Drive the Demand
6.3 Starch Blends
6.3.1 Benefits Such as Biodegradability, Renewability, and Low Cost Will Boost the Demand of Starch Blends
6.4 PHA
6.4.1 Use of High-Quality Materials in Pacakging to Drive the Growth of PHA
6.5 Biodegradable Polyesters
6.5.1 Increase in Demand for Pcl, Pbat, and Pbs for Soft Compostable Packaging to Drive the Market
6.5.1.1 Pcl
6.5.1.2 Pbat
6.5.1.3 Pbs
6.6 Others
6.6.1 The Ability of Regenerated Cellulose and Cellulose Derivative to Produce Smooth and Uniformed Biodegradable Polymers is Fueling Demand
6.6.1.1 Regenerated Cellulose
6.6.1.2 Cellulose Derivatives
7 Biodegradable Plastics Market, By End-Use Industry
7.1 Introduction
7.2 Packaging & Bags
7.2.1 Packaging & Bags Segment Accounted for the Largest End Use Industry of Biodegradable Plastics
7.3 Consumer Goods
7.3.1 Consumer Goods Segment is Projected to Grow at the Second-Fastest CAGR During the Forecast Period
7.4 Agriculture & Horticulture
7.4.1 Biodegradable Plastics are Used in the Agriculture & Horticulture Industry for Manufacturing Mulches, Seeding Strips, and Tapes
7.5 Textile
7.5.1 in Textile Industry PLA is Extensively Used Due to Its Excellent Property of Extremely Low Moisture Regain
7.6 Others
8 Biodegradable Plastics Market, By Region
8.1 Introduction
8.2 North America
8.2.1 Us
8.2.1.1 US Accounted for the Largest Market Size in the Biodegradable Plastics Market in North America
8.2.2 Canada
8.2.2.1 Canada is Expected to Witness the High Growth Rate in the Biodegradable Plastics Market in North America
8.2.3 Mexico
8.2.3.1 The Growing Environmental Concerns are Fuelling the Demand for Sustainable Alternatives in the Country
8.3 Europe
8.3.1 Germany
8.3.1.1 The Presence of A Large Number of Biodegradable Plastics Manufacturers and Processors Boost the Market in the Country
8.3.2 France
8.3.2.1 France is Expected to Grow With Highest CAGR in Europe During Forecast Period
8.3.3 UK
8.3.3.1 Growing Food & Beverage Packaging Industry in UK to Boost the Market
8.3.4 Italy
8.3.4.1 Biodegradable Plastics are Increasingly Being Used in Agriculture Industry in Italy
8.3.5 Spain
8.3.5.1 Spain is Gaining Momentum With the Growing Packaging & Bags and Consumer Goods End-Use Industries in the Country
8.3.6 Rest of Europe
8.4 APAC
8.4.1 China
8.4.1.1 China to Be the Largest and Fastest Growing Country for Biodegradable Plastics in APAC Region
8.4.2 Japan
8.4.2.1 Adoption of New Technologies to Increase the Production Capacity of Biodegradable Plastics in the Country
8.4.3 India
8.4.3.1 Biodegradable Mulch Films are Widely Used in the Agriculture Industry in India
8.4.4 South Korea
8.4.4.1 Use of Biodegradable Plastics is Gaining Momentum in the Country With Increasing Environmental Concerns
8.4.5 Rest of APAC
8.5 Rest of the World (RoW)
8.5.1 Brazil
8.5.1.1 Packaging & Bags to Be the Largest and Fastest Growing Market for Biodegradable Plastics in RoW
8.5.2 Argentina
8.5.2.1 Increasing Use of Biodegradable Plastics is Attributed to Shift in Focus From Traditional Plastic to Biodegradable Plastics in Argentina
8.5.3 Other Countries
9 Competitive Landscape
9.1 Overview
9.2 Market Ranking of Key Players
9.3 Competitive Situation & Trends
9.3.1 New Product Launches
9.3.2 Expansions
9.3.3 Mergers, Acquisitions, and Partnerships
10 Company Profiles
10.1 Natureworks
10.2 BASF SE
10.3 Total Corbion PLA
10.4 Mitsubishi Chemical Corporation
10.5 Biome Bioplastics
10.6 Plantic Technologies
10.7 Bio-On
10.8 Danimer Scientific
10.9 Novamont S.P.A.
10.10 Toray Industries
10.11 Other Players
10.11.1 Zhejiang Hisun Biomaterials Co., Ltd
10.11.2 Succinity GmbH
10.11.3 Perstorp
10.11.4 Bio-Fed
10.11.5 Tianan Biologic Materials Co.
10.11.6 Synbra Technology Bv
10.11.7 Tianjin Greenbio Materials Co., Ltd
10.11.8 Fkur Kunststoff GmbH
10.11.9 Sphere
10.11.10 Newlight Technologies
10.11.11 Green Dot Bioplastics
10.11.12 Api S.P.A
10.11.13 Carbiolice
10.11.14 Indochine Bio Plastiques (Icbp) Sdn. Bhd
10.11.15 Clondalkin
For more information about this report visit https://www.researchandmarkets.com/research/l44hl9/biodegradable?w=5
Did you know that we also offer Custom Research? Visit our Custom Research page to learn more and schedule a meeting with our Custom Research Manager.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Share this article