Biodegradable Plastics Market was valued USD 3.02 Bn. in 2022 and is estimated to grow at CAGR of 15.1%, to reach USD 8.10 Bn. by 2029 during the forecast period.
Biodegradable Plastics Market Overview:
The Biodegradable Plastics market research report looks into and analyses the market's position during the predicted period. It is an in-depth study that focuses on fundamental and secondary drivers, market dominance, key segments, and geographic analysis. The research also looks at notable individuals, large collaborations, mergers, and acquisitions, as well as contemporary innovation and corporate strategy.
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Biodegradable Plastics Market Scope:
We examined the Biodegradable Plastics Market from every angle conceivable, including both primary and secondary research methodologies. This helped us better grasp current market dynamics such as supply-demand imbalances, pricing trends, product preferences, and consumer behavior. The information is then gathered and evaluated using a variety of market estimations and data validation procedures. In addition, we have an in-house data forecasting engine that predicts market growth until 2027.
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Biodegradable Plastics Market Dynamics:
Growing environmental awareness and consumer preference for eco-friendly packaging materials for food packaging, use of compostable bags, and agricultural applications are some of the key drivers examined in the report, along with their tangible contribution to market size and opportunities for manufacturers and investors. Furthermore, rigorous regulations and limitations on the use of non-biodegradable plastic bags and other goods, which cause a significant waste management issue affecting water, land, and air pollution, are fueling the global market's growth.
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Biodegradable Plastics Market Segmentation:
by Type
Starch Blends
Polybutylene Succinate PBS
Polylactide PLA
Polybutylene adipate/terephthalate PBAT
Polyhydroxyalkanoates PHA
Others (Cellulose Derivatives and Regenerated Cellulose)
by Application
Packaging & Bags
Consumer Goods
Agriculture & Horticulture
Textile
Others (Automotive and Building & Constructio
Based on Type, The starch-based segment is expected to dominate the market with the growth of 10.4% CAGR during the forecast period. Starch-based plastics are widely used in end-consumer industries such as automobiles, agriculture and packaging. Moreover, starch-based are used as an alternative for petroleum-based polymers & is highly degradable hence, widely utilized in reducing the carbon footprint. The PLA plastics are also growing rapidly especially in the European region mainly due to the reasonable price of PLA in comparison to any other type is a prime factor driving the growth.
Based on Application, The leading factor driving the growth is boosting demand and usage of biodegradable Plastics packaging in textiles, consumer goods, food & beverage, textiles and pharmaceuticals industries extending the market growth over the forecasted period. Furthermore, changing lifestyle & growing awareness among farmers towards the greenhouse for vegetables and fruits production further supported the utilization of biodegradable plastics in agriculture.
Biodegradable Plastics Market Key Players:
Primary and secondary research is used to identify market leaders, as well as primary and secondary research to assess market revenue. As part of the core study, in-depth interviews with major thought leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing professionals were done. In-depth interviews with notable thought leaders and industry specialists, such as experienced front-line personnel, CEOs, and marketing professionals, were conducted as part of primary research, while secondary research included a review of the major manufacturers' annual and financial reports. Secondary data is utilized to compute percentage splits, market shares, growth rates, and global market breakdowns that are then compared to historical data. This report includes the following players:
1. NatureWorks
2. BASF
3. Total Corbion PLA
4. Mitsubishi Chemical
5. Biome Bioplastics
6. Plantic Technologies
7. Bio-On
8. Danimer Scientific
9. Novamont S.p.A
10. Toray Industries
11. DowDuPont Inc
12. Eastman Chemical Company
13. Mondi PLC
14. Amcor Limited
15. Kruger Inc.
16. Tetra Pak International SA
17. Plastic Suppliers Inc.
18. Stora Enso
19. WestRock
20. Archer Daniels Midland
21. Perstorp, K.D
22. FEDDERSEN
23. UrthPact, LLC
24. Indochine Bio Plastiques (ICBP) Sdn. Bhd.d.
Regional Analysis:
The research examines the local industry in-depth, utilizing both qualitative and quantitative data. It provides an overview and prediction of the global Biodegradable Plastics market segment by segment. It also projects and estimates the market size for five key regions from 2021 to 2027: North America, Europe, Asia-Pacific, the Middle East, Africa, and South America. The Biodegradable Plastics market in each area is further segmented into regions and sectors. The research studies and anticipates a wide range of nations, as well as current trends and opportunities in the sector.
COVID-19 Impact Analysis on Biodegradable Plastics Market:
We thoroughly researched and analyzed the Global Biodegradable Plastics Market Development Strategy post-COVID-19, by corporate strategy analysis, landscape, type, application, and leading countries, which encompasses and analyses the global Biodegradable Plastics industry's potential, providing statistical data on market dynamics, growth factors, major challenges, PORTER analysis, and market entry strategy analysis, opportunities, and forecasts. The study's main goal is to provide industrial enterprises with a strategic analysis of COVID-19's impact. This analysis looked at the marketplaces of key countries at the same time and emphasized their market potential.
Key Questions Answered in the Biodegradable Plastics Market Report are:
- What are the most promising high-growth opportunities in the global Biodegradable Plastics sector, as defined by product category, End User, and Region?
- Which Biodegradable Plastics market segments will expand the fastest, and why?
- Which areas will expand the fastest, and why?
- What are the primary elements influencing Biodegradable Plastics market dynamics? What are the primary drivers and obstacles in the Biodegradable Plastics market?
- What are the Biodegradable Plastics market's business risks and dangers?
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global Biodegradable Plastics Market https://www.maximizemarketresearch.com/request-sample/58264
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