openPR Logo
Press release

Biodegradable Plastic market size is expected to reach $4.2 billion by 2027

03-17-2021 08:50 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Report Ocean

According to a new report published by Report Ocean, titled, “Biodegradable Plastic market by Type, Application: Opportunity Analysis and Industry Forecast, 2020–2027”, the global biodegradable plastic market was valued at $1.6 billion in 2019 and is expected to reach $4.2 billion by 2027, growing at a CAGR of 13.3% from 220 to 2027.

GET SAMPLE PAGES @ https://www.reportocean.com/industry-verticals/sample-request?report_id=AMR1053

Biobased and biodegradable plastic are a perfect substitute to conventional plastic, although, currently its cost is high as compared to petroleum-based plastics. The biodegradable plastic market is still developing; and growth opportunities are widening with growing awareness for biobased products. PHA, one of the biodegradable plastic types is not commercialized to mass scale yet due to high price issues. At present, several manufacturers are opting different routes to lower the cost of the PHA and support ongoing demand. Currently, there are only 15-20 manufacturers operating in this market and primary processing of raw material is predominantly done by these players itself. Owing to high demand for biodegradable plastic, the production capacities of these manufacturers are changing rapidly and the similar trends are expected during the forecast period.

On the basis of type, starch blends are the promising type of biodegradable plastic as compared to other types. Starch blend can be modified to any desirable properties during production so that it can be used as per the convenience. Starch is popularly known to reduce the carbon footprint of traditional resins as they can replace petroleum-based polymers with natural ones.

Packaging industry emerged as the major consumer of global Biodegradable plastic market. Packaging companies are increasingly using biodegradable plastics to manufacture large number of products; thus positively influencing the market demand.

Key manufacturers profiled in the market include BASF SE, DowInc. Novamont S.p.A., Plantic, Natureworks, Corbion N.V., Biome Technologies plc, Mitsubishi Chemical Holdings, Eastman Chemical Company, and Danimer Scientific.

COVID-19 Scenario Analysis:
The suspended movement of vehicles across the globe is expected to disrupt the logistics of different companies, thus affecting the market growth in the forecast timeframe.

Complete shutdown in the downstream operations lead to high inventory cost. Additionally, delay in upcoming projects and investment cuts will negatively impact the growth.

Rapid growth of single use plastics in mask and gloves industry will further affect the market growth for biodegradable plastics.

Delay in key approvals, such as delay in new plant resolution due to travel advisory, currency risks, and subdued demand in emerging countries may hinder the growth.

Key Findings Of The Study

Based on type, the starch blends segment emerged as the global leader by acquiring over 50% market share in 2019, and it is anticipated to be the largest market during the forecast period

Europe is the major consumer of biodegradable plastic among other regions. It accounted for more than 50% of the global Biodegradable market share in 2019.

Presence of large number of regulatory bodies in Europe is one of the key factor behind the flourishing growth in the Europe region

Packaging is single major application segment of the biodegradable plastic, wherein, growth is driven by flexible and rigid packaging applications

LAMEA exhibits highest growth for the biodegradable plastic due to growing number of imports and rising business expansions from manufacturers.

READ FULL REPORT @ https://www.reportocean.com/industry-verticals/sample-request?report_id=AMR1053

Get in Touch with Us:
Report Ocean
Email: sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, IIIinois 60611 – UNITED STATES
Tel: +1 888 212 3539 (US – TOLL FREE)
Website: https://www.reportocean.com/

We are the best market research reports provider in the industry. Report Ocean believe in providing the quality reports to clients to meet the top line and bottom line goals which will boost your market share in today’s competitive environment. Report Ocean is “one-stop solution” for individuals, organizations, and industries that are looking for innovative market research reports.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Biodegradable Plastic market size is expected to reach $4.2 billion by 2027 here

News-ID: 2257539 • Views:

More Releases from Report Ocean

Japan Internet Advertising Market CAGR of 24.9%, Behind the Scenes Techniques for Deep Understanding of Consumer Behavior
Japan Internet Advertising Market CAGR of 24.9%, Behind the Scenes Techniques fo …
The Japan Internet Advertising Market has demonstrated remarkable growth, reaching a valuation of USD 29.49 Billion in 2021. With the digital landscape continually evolving, it is forecasted to soar to an impressive USD 112.04 Billion by 2027. This surge represents an anticipated compound annual growth rate (CAGR) of 24.9% over the projected period, highlighting the dynamic and rapidly expanding nature of the digital advertising sector in Japan. Internet Advertising are set
Location Analytics Market Through the Looking Glass Techniques for a Profound Understanding of Consumer Behavior
Location Analytics Market Through the Looking Glass Techniques for a Profound Un …
This comprehensive market research report offers an in-depth analysis of the global location analytics market from 2019 to 2026. Valued at USD 10,813.6 million in 2019, the market is forecasted to surge to USD 29,878.5 million by 2026, demonstrating a robust Compound Annual Growth Rate (CAGR) of 15.6% throughout the projection period. This report delves into the key drivers, restraints, opportunities, and challenges that are shaping the market, providing stakeholders
Affiliate Marketing Platform Market Eyes Wide Open Maximizing the Value of Observational Research in Consumer Behavior
Affiliate Marketing Platform Market Eyes Wide Open Maximizing the Value of Obser …
The Global Affiliate Marketing Platform Market, valued at USD 19,217.4 million in 2021, is projected to witness significant growth over the next decade, reaching an estimated value of USD 36,902.1 million by 2030. This report provides an in-depth analysis of the market dynamics, growth drivers, challenges, and opportunities that will influence the affiliate marketing landscape over the forecast period of 2021-2030. With a Compound Annual Growth Rate (CAGR) of 7.7%,
Global Clear Brine Fluids Market Growth Forecast and Trends (2022-2030)
Global Clear Brine Fluids Market Growth Forecast and Trends (2022-2030)
The global clear brine fluids market was valued at US$ 0.95 billion in 2021. It is anticipated to experience growth, reaching a valuation of US$ 1.39 billion by 2030. This growth trajectory translates to a compound annual growth rate (CAGR) of 3.1% during the forecast period from 2022 to 2030. Clear brine fluids, crucial in the oil and gas industry for drilling and completion processes, are poised for increased demand,

All 5 Releases


More Releases for Biodegradable

Biodegradable Films Market Beyond Plastic: Biodegradable Films Market Drives Eco …
Biodegradable Films Market to reach over USD 1,766.36 Mn by the year 2031 - Exclusive Report by InsightAce Analytic "Biodegradable Films Market" in terms of revenue was estimated to be worth $1,091.28 Mn in 2023 and is poised to reach $1,766.36 Mn by 2031, growing at a CAGR of 6.41% from 2023 to 2031 according to a new report by InsightAce Analytic. Get Free Sample Report @ https://www.insightaceanalytic.com/request-sample/1618 Latest Drivers Restraint
Biodegradable Cup Market Set for More Growth : Biodegradable Food Service, AmerC …
Advance Market Analytics published a new research publication on "Biodegradable Cup Market Insights, to 2027" with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Biodegradable Cup market was mainly driven by the increasing R&D spending across the world. Get Free Exclusive PDF Sample Copy of
Biodegradable Mg-Alloy Implant market: Technological Advancements in 2022 | Biod …
"The global Biodegradable Mg-Alloy Implant Market is carefully researched in the report while largely concentrating on top players and their business tactics, geographical expansion, market segments, competitive landscape, manufacturing, and pricing and cost structures. Each section of the research study is specially prepared to explore key aspects of the global Biodegradable Mg-Alloy Implant Market. For instance, the market dynamics section digs deep into the drivers, restraints, trends, and opportunities of
Global Biodegradable plastic Market
Biodegradable plastic is made using raw materials or petrochemicals and can be decomposed by living organisms such as bacteria. Biodegradable plastic takes less time to break down as it is made up of eco-friendly material and requires less energy for production. The global Biodegradable Plastic Market is facing challenges due to the COVID-19 pandemic as the manufacturing facilities and supply chain of many organizations is at a halt. The increasing
Global Biodegradable Films Market Report
The global biodegradable films market is projected to grow at a CAGR of 6.1 percent in the forecast years, according to a recent research report gathered by the Global Market Estimates. Browse 167 Market Data Tables and 97 Figures spread through 188 Pages and in-depth TOC on "Biodegradable Films Market - Forecast to 2026" https://www.globalmarketestimates.com/market-report/global-biodegradable-films-market-2518 By Type (PLA, Biodegradable Polyester, PHA, Starch Blends, Others), By Application (Food Packaging, Agriculture & Horticulture,
Biodegradable Polymers Market 2019-2025 Worldwide Key Players : Aquapak Polymers …
Adroit Market Research published a study on the “Global Biodegradable Polymers Market Size 2017 By Production (Starch-based, Polylactic acid (PLA), Polyhydroxyalkanoates (PHA), Synthetic), By Application (Packaging, Loose fill, Bags and sacks, Fibre, Others), By Region and Forecast 2018 to 2025”. The global biodegradable Polymers market size is estimated based on the ongoing trend of bioplastic and consumption patterns of the bioPolymerss across the globe. The report also provides the various