DUBLIN, April 8, 2020 /PRNewswire/ -- The "Biodegradable Plastic Market Size, Share & Trends Analysis Report by Type (Starch-based, PLA, PHA, PBAT, PBS), by End Use (Packaging, Consumer Goods, Agriculture), by Region, and Segment Forecasts, 2020-2027" report has been added to ResearchAndMarkets.com's offering.
The global biodegradable plastic market size is projected to reach USD 7.6 billion by 2027, rising at a revenue-based CAGR of 9.4% during the forecast period.
Increasing use of biodegradable products, owing to strict governmental laws for prohibiting use of conventional plastics and growing awareness among public toward their ill-effects is boosting the market growth.
The starch-based segment led the global biodegradable plastic market, since they are used in various applications such as packaging, consumer electronics, agriculture, automotive, and textiles. Polylactic Acid (PLA) is also one of the most consumed products, which is used in 3D printing, mulch film, and packaging.
Ban on plastics by European Commission is anticipated to drive the packaging segment growth over the forecast period. Novel applications of biodegradable products in the medical sector for drug encapsulation and medical surgeries are also being increasingly practiced.
People across the globe, are facing grave issues of waste as conventional plastics take hundreds of years to decompose. To tackle this issue several countries have banned the use of single-use plastic products and are promoting eco-friendly biodegradable products. Ban of non-reusable conventional plastics in many regions, especially in Europe and North America, is estimated to propel the market demand. Additionally, improving standard of living and increasing disposable income in developing countries are likely to augur well for the market in Asia-Pacific and Central and South America.
Key players are investing in research and development activities in order to create improved products that are strong and can be easily decomposed in natural environment. Many companies have integrated value chain to serve customers better and improve company profits.
Further key findings from the report suggest:
- The Polyhydroxyalkanoate (PHA) segment is projected to expand at a significant CAGR of 10% in terms of revenue during the forecast period, owing to increasing use of PHA in medical and other applications
- Packaging is the largest end-use segment, followed by the agriculture sector, owing to replacement of conventional plastics in food packaging such as boxes, wraps, cups, plates
- Europe is the largest region in terms of revenue as well as volume. However, Asia-Pacific is expected to emerge as the fastest growing region
- Major players in the biodegradable plastic industry include BASF SE, NatureWorks LLC, Mitsubishi Chemical Corporation, Carbion, and Biome Technologies plc.
Key Topics Covered
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Biodegradable Plastics: Market Variables, Trends & Scope
3.1 Market Segmentation
3.2 Biodegradable Plastics: Market Dynamics
3.3 Value Chain Analysis
3.4 Technology Overview
3.5 Regulatory Framework
3.6 Market Variables Analysis
3.6.1 Market Driver Analysis
220.127.116.11 Growing Use of Renewable & Bio-Based Products
18.104.22.168 The Shift in Consumer Preferences Toward Eco-Friendly Packaging and Strict Government Regulations
3.6.2 Market Restraint Analysis
22.214.171.124 Cost Competitiveness of Biodegradable Plastics Over Conventional Plastics
126.96.36.199 Shortcomings of Biodegradable Plastics
3.7 Penetration and Growth Prospect Mapping
3.7.1 New Market Avenues
3.8 Biodegradable Plastics Market - Porter's Analysis
3.9 Biodegradable Plastics Market - PESTEL Analysis
Chapter 4 Biodegradable Plastics Market: Type Estimates & Trend Analysis
4.1 Biodegradable Plastics Market: Type movement analysis, 2019 & 2027
4.3 Polylactic Acid (PLA)
4.4 Polybutylene Adipate Terephthalate (PBAT)
4.5 Polybutylene Succinate (PBS)
4.6 Polyhydroxyalkanoate (PHA)
Chapter 5 Biodegradable Plastics Market: End-use Estimates & Trend Analysis
5.1 Biodegradable plastics market: End-use movement analysis, 2019 & 2027
5.4 Consumer Goods
Chapter 6 Biodegradable Plastics Market: Regional Estimates & Analysis
6.1 Biodegradable Plastics Market: Regional movement analysis
6.2 North America
6.5 Central & South America (CSA)
6.6 Middle East & Africa
Chapter 7 Competitive Landscape
7.1 Key Global Players, Recent Developments & Their Impact on the Industry
7.2 Vendor Landscape
7.3 Public companies
7.4 Private Companies
Chapter 8 Company Profiles
8.1 Mitsubishi Chemical Corporation
8.2 Biome Technologies plc
8.3 Plantic Technologies Limited
8.4 BASF SE
8.6 Yield10 Bioscience, Inc.
8.7 Eastman Chemical Company
8.8 NatureWorks LLC
8.9 Dow Inc.
8.10 Danimer Scientific
8.11 Novamont S.p.A.
8.12 Toray Industries, Inc.
8.13 TianAn Biologic Materials Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/duu3ch
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Research and Markets
Laura Wood, Senior Manager
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: 646-607-1904
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets