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Compostable Plastic Packaging Material Market on Track to US$ 2,000 Mn by 2028

08-16-2018 10:45 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

Compostable Plastic Packaging Material Market on Track to US$

The report titled ‘Compostable Plastic Packaging Material Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2028’ states that the global market for compostable plastic packaging material is expected to grow at a moderate CAGR of 5.1% during the forecast period of 2018-2028. The data in this report also shows that the market will possibly reach a value of over US$ 2,000 Mn by the end of 2028. Compostable plastics degrade rapidly, leaving no traces of the material, which are witnessing stellar demand in the market currently.

In a bid to build a strong business in an eco-friendly manner, companies are coming up with new offerings in the global market. There is a huge demand for environment-friendly products as the people are more inclined towards these products due to their growing awareness. Compostable plastic packaging is a major part of the current eco-friendly plastics market. The market comprises various materials like PBAT, PBS, PLA, and PHA, all of which are made up of components that are highly decomposable. Among these, PHA is expected to hold the strongest market growth, owing to its high barrier properties.

Request to Sample of Report @  https://www.futuremarketinsights.com/reports/sample/rep-gb-5895

Food, beverage and pharmaceutical products prefer high barrier material for packaging to extend the shelf life of the products and maintain the quality of the product. According to the outcomes of the report on the global compostable plastic packaging materials market, PHA plastic type is expected to witness a stellar CAGR of 15.9% during the 10 year forecast period. A popular trend witnessed in the global compostable plastic packaging materials market is the rise in demand for garbage bags made of compostable plastic. Despite of relatively higher costs, compostable garbage bags are likely to grab a sizeable market in near future, in both developed as well as developing economies.

Global Compostable Plastic Packaging Material Market: Competitive Scenario

The companies that are leading in global compostable plastic packaging materials market include S.K. Chemicals Co. Ltd., BASF S.E., Kaneka Corporation, Northern Technologies International Corp., Blonde Technology Co., Ltd., FKuR Kunststoff GmbH, NatureWorks LLC, Gio-Soltech, Ltd., Xinjiang Blueridge Tunhe Chemical Industry Co., Ltd, Biotec GmbH & Co. KG etc. These market leaders are looking for opportunities to expand their businesses and capitalize on products that are going to witness higher demands.

Request to Report Methodology @ https://www.futuremarketinsights.com/askus/rep-gb-5895

About Us
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.

FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.

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