Biodegradable Plastic Industry Overview
The global biodegradable plastic market size was estimated at USD 4.1 billion in 2021. It is expected to expand at a compound annual growth rate (CAGR) of 9.7% during the forecast period. Governments prohibiting the use of single-use plastic coupled with rising awareness among the public regarding the ill effects of plastic waste are among the key trends stimulating market growth. Additionally, the increasing use of biodegradable plastics in packaging and agriculture is anticipated to supplement the growth of the segment. Non-decomposable plastics are a global issue. Governments around the world are tackling this problem by banning single-use plastics and promoting the use of biodegradable plastics. Moreover, consumers are willing to pay more for biodegradable plastics owing to their eco-friendly nature. The aforementioned factors, cumulatively, are providing a fillip to the market.
Gather more insights about the market drivers, restrains and growth of the Global Biodegradable Plastic market
Despite environmental advantages, biodegradable plastics have some shortcomings too. Segregation of conventional plastics and biodegradable plastic is a big drawback as there is no distinct difference between them. The inclusion of conventional plastic in biodegradable plastic landfills can cause complications in the decomposition process.
Moreover, not all biodegradable plastics readily decompose in the natural environment, as they require a specific environment in terms of moisture and temperature. Some biodegradable plastics release greenhouse gases during decomposition, which is counterproductive to the environmental cause. These factors are likely to act as stumbling stones in the upward climb of the market.
Browse through Grand View Research’s Plastics, Polymers & Resins Industry Research Reports.
- Mono Cartons Market – Mono cartons are packaging material that are extensively consumed for packaging purposes in a broad spectrum of end-use industries. Mono cartons are thin and light weight boxes, mainly prepared from cardboard and other such materials.These cartons are designed to carry a range of products including bottles, medicines, food products, cosmetic products, automobile parts, liquor, and many more products.
- Flexible Foam Market – Flexible foam is a type of polyurethane foam used in various applications such as bedding, furniture, automotive seating, and insulation. The product offers excellent cushioning, comfort, and insulation properties. The raw materials for flexible polyurethane foams are often accompanied with additives to yield desired properties.
Biodegradable Plastic Market Segmentation
Grand View Research has segmented the global biodegradable plastic market based on product, application, and region:
Product Outlook (Volume, Kilotons; Revenue, USD Million, 2019 – 2030)
- Starch Based
- PLA
- PBS
- PBAT
- PHA
- Polycaprolactone
Application Outlook (Volume, Kilotons, Revenue, USD Million, 2019 – 2030)
- Packaging
- Agriculture
- Consumer Goods
- Others
Regional Outlook (Volume, Kilotons, Revenue, USD Million, 2019 – 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Companies profiled:
Some of the prominent vendors in the global Biodegradable Plastic market include
- Cargill Incorporated
- PTT MCC Biochem Co., Ltd.
- Biome Technologies plc
- Plantic Technologies Limited
- BASF SE
- Total Corbion PLA
- Synbra Technology BV
- Futerro
- Novamont SpA
- NatureWorks LLC
- Eastman Chemical Company
- Trineso
- Danimer Scientific
- FKuR Kunststoff GmbH
Order a free sample PDF of the Biodegradable Plastic Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com
Market Industry Forecast News 