Global Biodegradable Plastics Market Expected to reach $6.98 billion by 2026 growing at a CAGR of 13.4%

Global Biodegradable Plastics Market is accounted for $2.25 billion in 2017 and is expected to reach $6.98 billion by 2026 growing at a CAGR of 13.4% from 2017 to 2026. The growing demand for biodegradable plastics is mainly attributed to increased environmental awareness. Biodegradable plastics are increasingly being used to manufacture packaging materials as consumers are showing preferences towards ecofriendly packaging are some of the factors fueling the market growth. However, factors such as high cost in process are restricting the market growth.

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Biodegradable plastics are plastics that are can be decomposed by the action of living organisms, usually bacteria. Two basic classes of biodegradable plastics exist: Bioplastics, whose components are derived from renewable raw materials, and plastics made from petrochemicals containing biodegradable additives which enhance biodegradation. "Biodegradable" broadly means that an object can be biologically broken down, while "compostable" typically specifies that such a process will result in compost, or humus. The waste management infrastructure currently recycles regular plastic waste, incinerates it, or places it in a landfill. Mixing biodegradable plastics into the regular waste infrastructure poses some dangers to the environment.

Amongst Type, Polylactic acid (PLA) segment accounted for significant market share during the forecast period due to demand from major packaging materials in industries such as food & beverages, textiles and tissue engineering. While, the starch-blend segment of type dominates the market during the forecast period. Europe is anticipated to be the largest market for biodegradable plastics due to rising packed food products along with increasing electronic and pharmaceutical industry and strict implementation of environmental regulations.

Some of the key players in Biodegradable Plastics Market include Amcor, BASF SE, Biome Technologies PLC, Bio-On SRL., Biopac, Corbion N.V., Meredian Inc., Metabolix Inc., Mitsubishi Chemical Corporation, NatureWorks LLC, Plantic Technologies Ltd. and Tianan Biologic Materials Co. Ltd.

Types Covered:
-Biodegradable
-Fossil Based
-Poly-3-Hydroxybutyrate (PHB)
-Regenerated Cellulose
-Bio Based
-Other Types

Feedstocks Covered:
-Corn
-Sugarcane and sugar beat
-Wood
-Other Feedstocks

Applications Covered:
-Fibers
-Injection Molding
-Packaging
-Other Applications

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End Users Covered:
-Electrical & Electronics
-Agriculture & Horticulture
-Building & Construction
-Automotive
-Textiles
-Medical
-Coatings
-Pharmaceutical
-Other End Users
Regions Covered:
-North America
-Europe
-Asia Pacific
-South America
-Middle East & Africa

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-Market share assessments for the regional and country level segments
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-Strategic recommendations for the new entrants
-Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
-Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
-Strategic recommendations in key business segments based on the market estimations
-Competitive landscaping mapping the key common trends
-Company profiling with detailed strategies, financials, and recent developments
-Supply chain trends mapping the latest technological advancements

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This release was published on openPR.