Biodegradable Plastics Market Overview Till 2022 Industry Insights Trends Analysis and Forecast Key Players:- BASF SE (Germany), Corbion (Netherland), Biome Technologies PLC (U.K.), Mitsubishi Chemical Corporation (Japan)

Biodegradable Plastics Market

The global biodegradable plastics market is expected to reach 16.8 billion by 2022 with CAGR 8.4% between 2016-2022.

Rising consumer awareness about global warming and government legislation such as banned on plastic bags will increase the demand for biodegradable plastics across the globe. Plastics that decompose to carbon dioxide and water under the actions of microorganisms is known as biodegradable plastics. Biodegradable plastics are produced by fermentation of sugar or canola oil to produce polylactic acid (PLA) or polyhydroxyalkanoates (PHA) which in turn converted into biodegradable plastics.

Biodegradable nature of plastics is expected to be key factors driving the biodegradable plastic market over the forecasted horizon. Increase in awareness about ecofriendly 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. The cost of producing biodegradable plastics is much more than conventional plastics. However, higher cost effectiveness and lack of technology can be key challenges to many manufacturers but can be overcome with technology advancement. Volatile prices of crude oil can be an opportunity for manufacturer to shift to biodegradable plastics over petroleum based conventional plastics.

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Market Study Trend Influence:

Data integration and capabilities are analyzed to support the findings and study the predicted geographical segmentations. Various key variables and regression models were considered to calculate the trajectory of biodegradable plastics market. Detailed analysis is explained and given importance to with best working models.

Geographically, the segmentation is done into several key regions like North America, Middle East & Africa, Asia Pacific, Europe and Latin America. The production, consumption, revenue, shares in mill UDS, growth rate of biodegradable plastics market during the forecast period of 2016 to 2022 is well explained.

The ongoing market trends of biodegradable plastics market and the key factors impacting the growth prospects are elucidated. With increase in the trend, the factors affecting the trend are mentioned with perfect reasons. Top manufactures, price, revenue, market share are explained to give a depth of idea on the competitive side.

Each and every segment type and their sub types are well elaborated to give a better idea about this market during the forecast period of 2016 to 2022 respectively.

Market Application Insights:

Packaging industry is leading segment in application of biodegradable plastics. Increasing demand of biodegradable plastics as major packaging applications in food & beverage, textiles, pharmaceuticals and consumer goods is augmented to market growth over the forecasted period. Changing lifestyle of consumer along with increase in packaged food products demand in developed regions are boosting the demand for biodegradable plastics in packaging industries. Rising awareness among farmers to build green houses for production of fruits and vegetables has boosted the biodegradable plastics in agriculture application. Growing electronic, medical and automobile industry has also boosted the demand of biodegradable plastics market.

Market Competitive Insights:

BASF SE (Germany), Corbion (Netherland), NatureWorks LLC (U.S.) has dominated the global Biodegradable Plastics market share in 2016.

The government is playing crucial role in promotion of biodegradable plastics in various regions. Along with strict regulations, government is supporting financial assistant to manufacturers in imposing biodegradable plastics. Owing to price sensitivity of raw materials, key players are adopting diverse pricing strategies. To keep moderate level of competition, prominent players are engaging in agreements, acquisitions and mergers in view that share of income can be diverse in range of industries.

Competitive Analysis / 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).

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