Biodegradable Plastics (PLA, Starch Blends, PBAT, PHA, PBS) Market Global Forecast to 2029 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Biodegradable Plastics Market by Type (PLA, Starch Blends, PBAT, PHA, PBS), End-Use Industry (Packaging, Consumer Goods, Textiles, Agriculture & Horticulture), and Region- Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.

The biodegradable plastics market, estimated to expand from USD 12.92 billion in 2024 to USD 33.52 billion by 2029, is set to achieve a significant compound annual growth rate (CAGR) of 21.3% during this period. This global market growth is propelled by the versatile applications of biodegradable plastics in industries like packaging, consumer goods, textiles, and agriculture, driven by their exceptional properties.

PBAT Type: A Fast-Growing Segment

The PBAT segment is projected as the third fastest-growing type in the biodegradable plastics market. Known for its biodegradability and flexibility, PBAT is composed of major monomers like butylene adipate and terephthalate. It excels in applications such as biodegradable bags, offering enhanced flexibility and fast compostability to meet compliance regulations. PBAT can be blended with other biodegradable polymers, such as PLA or starch, to improve mechanical strength and processability. This makes it a customizable solution for various needs and ideal for use with conventional film equipment.

Growing Demand in Agriculture & Horticulture

The agriculture and horticulture industries are expected to experience significant growth in the use of biodegradable plastics. These plastics are instrumental in manufacturing mulches, seeding strips, and tapes, aiding in improving soil health and reducing the reliance on synthetic fertilizers. By enhancing water retention and nutrient availability, biodegradable plastics contribute to healthier plant growth. Increasing disposal costs of traditional materials are also driving demand for starch-based alternatives. Key markets utilizing these solutions include Germany, France, the US, China, and Mediterranean nations like Spain and Israel.

Europe's Ascending Market Position

Europe is poised to be the second-fastest growing region, thanks to major contributors like Germany, Italy, France, Spain, and the UK. With a focus on sustainable packaging technologies and robust industrial capabilities, the region is witnessing increased demand for biodegradable plastics. European governments are actively putting infrastructure in place to support the composting of these materials, further fostering market growth.

In-depth interviews were conducted with CEOs, marketing directors, and innovation leaders from leading organizations within the biodegradable plastics sector. Data was also corroborated with secondary research to assess and validate market segmentation and size. The industry breakdown includes 40% from Tier 1 companies, 30% from Tier 2, and another 30% from Tier 3 entities. The regional distribution comprised 22% each from North America and Europe, 45% from APAC, and 11% from the rest of the world.

The market features prominent players like NatureWork LLC (US), BASF SE (Germany), TotalEnergies Corbion (Netherlands), Mitsubishi Chemical Group Corporation (Japan), and others. The competitive analysis involves company profiles, recent developments, and strategic market insights.

Research Coverage The research report segments the biodegradable plastics market by type, end-use industry, and region, providing market valuations across different geographies. It also includes a detailed analysis of leading industry players to offer insights into their strategy, products, and services.

Key Benefits of the Report This report explores various analysis levels, featuring industry trends, company rankings, and profiles. It covers high-growth market segments and regions, providing a comprehensive view of the competitive landscape.

Insights offered include:

• Market Penetration: In-depth information on market presence by major players.
• Driver Analysis: Government policies, consumer awareness, and industry applications.
• Product Development/Innovation: Insights into upcoming technologies and innovations.
• Market Development: A review of promising emerging markets.
• Market Capacity: Current production capacities and future projections.
• Competitive Assessment: Extensive evaluation of major players' market shares and capabilities.

Key Attributes:

Report Attribute	Details
No. of Pages	231
Forecast Period	2024 - 2029
Estimated Market Value (USD) in 2024	$12.92 Billion
Forecasted Market Value (USD) by 2029	$33.52 Billion
Compound Annual Growth Rate	21.3%
Regions Covered	Global

Key Topics Covered:

Market Dynamics

• Drivers
  • Government Focus on New Policies and Regulations
  • Consumers with Strong Purchasing Power and Commitment to Environmental Sustainability
  • Growing Demand for Polyhydroxyalkanoates (PHA) in Pharmaceutical Industry
  • Increasing Applications of Eco-Friendly Products
• Challenges
  • Volatility in Raw Material Prices
  • Higher Price of Biodegradable Plastics Than That of Conventional Plastics
• Opportunities
  • Increasing Use of Biodegradable Plastics in Packaging End-use Industry
  • Growing Popularity of Poly(Lactic-Co-Glycolic Acid) (PLGA) in Pharmaceutical Industry
  • Higher Growth in Emerging Economies of Asia-Pacific
• Challenges
  • High Price and Complex Production Process
  • Less Durability of Biodegradable Plastics Than Traditional Plastics
• Case Studies
  • Holler Poller - Wooden Toys with Bio-Plastic Tires
  • Enhancing Biobased Plastics with Natural Resin Derivatives
  • Sustainable Cosmetic Packaging by Ramaplast S.P.A.

Company Profiles

• NatureWorks LLC
• BASF SE
• TotalEnergies Corbion
• Mitsubishi Chemical Group Corporation
• Biome Bioplastics
• Plantic
• FKuR
• Danimer Scientific
• Toray Industries, Inc.
• Novamont
• Bio on
• Zhejiang Hisun Biomaterials Co. Ltd.
• Bio-Fed
• Green Dot Bioplastics
• Sphere
• Tianan Biologic Materials Co. Ltd.
• Succinity
• Carbiolice
• Agrana
• Futerro
• Eastman Chemical Company
• Ingevity
• PTT MCC Biochem Co. Ltd.
• Yield10 Bioscience, Inc.
• Natur Tec

For more information about this report visit https://www.researchandmarkets.com/r/yznf6y

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