Biodegradable Plastics Market Overview:
Biodegradable Plastics Market is expected to reach USD 16.8 Bn by 2022 with CAGR 8.4% between by 2018-2022.
Biodegradable nature of plastics is expected to be key factors driving the biodegradable plastic market over the forecasted horizon. Increase in awareness about eco-friendly products and strict regulations regarding usage of conventional plastics is anticipated to drive the global biodegradable plastics. The major factors for market growth is the key initiatives taken by several government to use biodegradable plastics over conventional plastics.
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Biodegradable Plastics Market Key Players:
• BASF SE (Germany)
• Corbion (Netherland)
• Biome Technologies PLC (U.K.)
• Mitsubishi Chemical Corporation (Japan)
• NatureWorks LLC (U.S.)
• BIO-ON (Italy)
• FKuR Kunststoff GmbH (Germany)
• Cardia Bioplastics Limited (Australia)
• Cereplast Inc (U.S)
• Plantic Technologies Ltd (Australia)
Biodegradable Plastics Market Segmentation:
Biodegradable Plastics is segmented into polyhydroxyalkanoates (PHA), polylactic acid (PLA), polybutylene succinate (PBS), polycaprolactone (PCL), starch-based plastics, regenerated cellulose. Starch based and polylactic acid (PLA) accounts for largest market share owing to properties such as high tensile and mechanical strength. Polylactic acid based biodegradable plastics is used majority in packaging industry.
These plastics provide good appearance due to produce from fermentation of both wheat starch and corn starch. Later, starch based biodegradable plastics are expected to overtake polylactic acid based biodegradable plastics over the forecasted period owing to high tensile strength and impact resistance in packaging and consumer goods.
Biodegradable Plastics Market Regional Analysis:
Asia-Pacific witnessed steady growth in biodegradable plastics market. High production cost and lack of consumer awareness leading to use of low-cost petroleum based conventional plastics has led the steady growth in these regions. Other developing regions like China and India are expected to witness a stable growth owing to lenient regulations in using non-conventional resources.
North America is second leading segment owing to high demand of biodegradable plastics in retail stores. Rising consumer pressure and favorable regulations by government in various industries such as textile, automobile, medical and electrical & electronic industries has propelled the demand of biodegradable plastics in US market. U.S held second position owing to government regulations in supporting loan guarantees to those manufacturers that are using high performance bio-based chemicals for production.
Biodegradable Plastics Market Table of Content:
1 Executive Summary
2 Cope of the Report
3 Market Research Methodology
4 Market Landscape
5 Industry Overview of Global Biodegradable Plastics Market
Biodegradable Plastics Market Table of Content to be Continue…….,
Biodegradable Plastics Market List of Table:
Table 1 World Population: By Major Regions (2015 To 2030) (Billion)
Table 2 Global Biodegradable Plastics Market: By Region, 2014-2022 (USD Billion)
Table 3 North America Biodegradable Plastics Market: By Country, 2014-2022 (USD Billion)
Table 4 Europe Biodegradable Plastics Market: By Country, 2014-2022 (USD Billion)
Table 5 Asia-Pacific Biodegradable Plastics Market: By Country, 2014-2022 (USD Billion)
Biodegradable Plastics Market List of Table to be Continue…….,
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