Global Biodegradable Plastics Market Size and Share 2022


Posted December 24, 2019 by healthcaresector

Biodegradable Plastics Market Global Information: by Product Type (Polyhydroxyalkanoates (PHA), Polylactic Acid (PLA)

 
Market Overview

Market Research Future (MRFR) announces the publication of its research report Global Biodegradable Plastics Market, 2022.

The global biodegradable plastics market is expected to reach a valuation of USD 16.8 billion by 2022, according to the latest research report from Market Research Future (MRFR). The global biodegradable plastics market is expected to exhibit a strong 8.4% CAGR over the forecast period from 2016 to 2022.

The global biodegradable plastics is mainly driven by the growing awareness about the ecological damage caused by the growing volume of plastic waste and the increasing government interventions in the area to offer solid support to efforts that aim to resolve the issue of plastic pollution at its roots. The discovery of biodegradable plastics dates back to the 1970s, since when the development of the biodegradable plastics has steadily gained steam as the world’s consumption of plastic materials has grown exponentially over the same time period. The growing volume of plastic waste has bent governments as well as public will, particularly in developed areas of the world, to take concrete steps towards eradicating the problem.

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Biodegradable Plastics Market Key Players:

Leading players in the global biodegradable plastics market include BASF SE, Biome Technologies PLC, NatureWorks LLC, FKuR Kunststoff GmbH, Cereplast Inc., Plantic Technologies Ltd., Cardia Bioplastics Limited, BIO-ON, Mitsubishi Chemical Corporation, and Corbion. Corbion, NatureWorks, and BASF are likely to hold on to major shares in the global biodegradable plastics market over the forecast period.


Biodegradable Plastics Market Segmentation:

Based on product type, the global biodegradable plastics market is segmented into polyhydroxyalkanoates (PHA), polylactic acid (PLA), polybutylene succinate (PBS), polycaprolactone (PCL), starch-based plastics, and regenerated cellulose. PLA-based biodegradable plastics are likely to dominate the global biodegradable plastics market over the forecast period due to the ease of developing them in comparison with other types of biodegradable plastics and their easy utility in the packaging industry.

By application, the global biodegradable plastics market is segmented into packaging, injection molding, agriculture, textiles, and others. The packaging industry is likely to dominate the global biodegradable plastics market over the forecast period due to the large volume of the demand for plastics from the packaging industry.

Biodegradable Plastics Market Regional Analysis:

Regionally, Europe is the largest segment of the global biodegradable plastics market, followed by North America. Governments in Europe, especially Western Europe, have been the pioneers in terms of adopting biodegradable plastics and providing regulatory support to their widespread adoption, which has seen the region account for the largest share in the global biodegradable plastics market in 2016. The U.S. and Canada are also likely to be among the leading consumers of biodegradable plastics over the forecast period due to the growing government support for environmental regulations.

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Issued By Market Research Future
Phone 6468459312
Business Address Office No. 528, Amanora Chambers
Country India
Categories Agriculture , Industry , Textile
Tags Biodegradable Plastics Market Size , Biodegradable Plastics Market Share , Biodegradable Plastics Market Analysis
Last Updated December 24, 2019