DUBLIN--(BUSINESS WIRE)--The "Biodegradable Plastic Market to 2027 - Global Analysis and Forecasts by Type, End User, and Geography" report has been added to ResearchAndMarkets.com's offering.
The global biodegradable plastic market accounted for US$ 2,989.8 Mn in 2018 and is expected to grow at a CAGR of 14.5% during the forecast period 2019-2027, to account to US$ 10,086.2 Mn by 2027.
Currently, excessive plastic waste and its disposal have become a major environmental issue globally. Biodegradable plastics are used as an effective and environment-friendly alternative to commercial plastic. Significant reduction in carbon emissions during the manufacturing process is a major advantage of biodegradable plastics over conventional plastics. This factor further boosts the growth of the biodegradable plastic market.
Apart from taking significantly lesser time to break down, compared to conventional plastic, biodegradable plastic can also be further recycled to create more plastic products such as packaging bags. This further propels the growth of biodegradable plastic over the forecast period. However, the high cost of biodegradable plastic as compared to conventional plastic is projected to hamper the growth of the biodegradable plastic market.
The customers in developed and developing countries have become more aware of the ill effects of conventional plastics on their lifestyle and the environment. As a result, they demand more environmentally friendly products, which leads to a decrease in the use of crude oil and natural gas, thereby reducing carbon footprints.
Biodegradable plastic is an alternative for nearly all conventional plastics used in a diverse range of applications. These plastics offer innovative solutions with enhanced properties, along with distinctive ability to reduce emissions as well as provide the same qualities and functionalities as that of conventional plastics. Therefore, rising demand for more sustainable plastic products provides a huge opportunity for the key players operating in the biodegradable plastic market.
Many industry players from packaging, agriculture, consumer goods, and textile, among others, are inclined toward delivering biodegradable plastic products owing to the rising awareness about the impact of plastic consumption on the environment. Various organizations are working toward bringing transformation in the handling of plastics, through strategic planning, communication, consumer awareness campaigns, documentary films, education, cleanup campaigns, raising business awareness, scientific research, entrepreneurial innovation, legislation, and sustainability.
The key aim is to increase the understanding of users regarding plastic pollution, thereby encouraging the invention of more sustainable solutions, and empowerment of more people and business organizations to take action to stop plastic pollution. Moreover, increasing efforts to develop new biodegradable plastic products leads to growing biodegradable plastic market. Moreover, the revolution in consumer demand on the basis of environmental awareness, packaging convenience, and sustainable plastic production systems is boosting the global biodegradable plastic market growth.
Some of the players present in global biodegradable plastic market are API SpA, BASF S.E, FKuR Kunststoff GmbH, Green Dot Bioplastics, Novamont S.p.A, Kingfa Sci. & Tech. Co., Ltd., GuangDong Huazhilu Biological Material Co., Ltd, Mitsubishi Chemical Corporation, Plantic Technologies Limited, and Total Corbion PLA, among others.
Reasons to Buy
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global biodegradable plastic market, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
Key Topics Covered
1.1 Scope of the Study
1.2 Report Guidance
1.3 Market Segmentation
1.3.1 Global Biodegradable Plastics Market - By Type
1.3.2 Global Biodegradable Plastics Market - By End-user
1.3.3 Global Biodegradable Plastics Market - By Geography
2. Key Takeaways
3. Research Methodology
3.2 Secondary Research
3.3 Primary Research
4. Biodegradable Plastic Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America PEST Analysis
4.2.2 Europe PEST analysis
4.2.3 APAC PEST Analysis
4.2.4 MEA PEST Analysis
4.2.5 South America PEST Analysis
4.3 Expert Opinions
5. Biodegradable Plastic Market - Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Increasing Awareness Among Customers About Adverse Effects of Conventional Plastics
5.1.2 Rising Government Initiatives to Ban Conventional Plastics and Related Products
5.2 Key Market Restraints
5.2.1 Higher Cost of Biodegradable Plastics Than Conventional Plastics
5.3 Key Market Opportunities
5.3.1 Surge in Need for Sustainable Packaging Solutions
5.4 Future Trends
5.4.1 Emerging Use of Biodegradable Plastics in Biomedical Application
5.5 Impact Analysis of Drivers and Restraints
5.6 List of Buyers for Biodegradable Plastic
6. Biodegradable Plastic- Global Market Analysis
6.1 Global Biodegradable Plastic Market Overview
6.2 Biodegradable Plastic Market Forecast and Analysis
6.3 Market Positioning
7. Global Biodegradable Plastics Market Analysis - By Type
7.2 Global Biodegradable Plastics Market Breakdown, By Type, 2018 & 2027
7.5 Starch Blends
8. Global Biodegradable Plastics Market Analysis - By End User
8.2 Global Biodegradable Plastics Market Breakdown, By End User, 2018 & 2027
8.3 Packaging and Bags
8.4 Agriculture and Horticulture
8.5 Consumer Goods
9. Biodegradable Plastics Market - Geographical Analysis
9.2 North America Biodegradable Plastics Market Revenue and Forecasts To 2027
9.3 Europe Biodegradable Plastics Market Revenue Forecasts To 2027
9.4 Asia Pacific Biodegradable Plastic Market Revenue and Forecasts to 2027
9.5 Middle East And Africa Biodegradable Plastics Market Revenue And Forecasts To 2027
9.6 South America Biodegradable Plastic Market Revenue and Forecasts to 2027
10. Industry Landscape
10.1 New Development
10.2 Strategy And Business Planning
11. Company Profiles
11.1 API S.p.A.
11.2 BASF S.E.
11.3 FKuR Kunststoff GmbH
11.4 Green Dot BioPlastics
11.5 Novamont S.p.A.
11.6 Kingfa Sci. & Tech. Co. Ltd.
11.7 GuangDong Huazhilu Biological Material Co. Ltd.
11.8 Mitsubishi Chemical Corporation
11.9 Plantic Technologies Limited
11.10 Total Corbion PLA
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