Biodegradable Polymer Market size to increase by USD 23.65 billion, Trends, Status, Top Competitor Analysis, Growth Aspects and Forecast 2029

Biodegradable Polymer Market Overview:

Biodegradable polymers are degradable in nature and break down into smaller molecules with the motion of agents like microorganisms and nature. Based on feedstock, they're labelled into herbal bio-degradable polymers shaped in nature and artificial biodegradable polymers based on petroleum.

The global Biodegradable Polymer market Size is likely to grow USD 23.65 billion by 2029, from USD 7.25 billion in 2020, at a CAGR of 14.4% during 2022-2029.

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The biodegradable plastics market growth is fostered by the escalating product demand owing to the rise in economic standards as well as the growth in consumer spending. With growing concerns about the conventional plastics' toxic effects on the environment has led to robust demand for biodegradable plastic. Biodegradable plastics market value and growth scope will further be bolstered by the extensive applications in construction, manufacturing, retail sales, and more.

Biodegradable Polymer Market Key Players

The study of the growth of the top market player for in the target sector includes new projects with speculative returns, innovations and study of the accessibility of companies. some of the profiled players are BASF, NatureWorks, Total Corbion, Novamont, Biome Bioplastics, Mitsubishi Chemical Holding Corporation, Toray Industries, Plantic Technologies and Others

February 2022: Kaneka, a Tokyo-based chemical business, wants to double the present output of a biodegradable polymer that can be utilized in a wide range of plastic applications to 20,000 tons per year. According to Kaneka, this polymer, designated PHBH, is biosynthesized by microorganisms using plant oils as the major raw source. The polymer, which is made entirely of plant-based materials, has been verified to breakdown in seawater. Microorganisms will eventually breakdown more than 90% of PHBH products into carbon dioxide and water if they are discharged into the sea, according to the business. A new rule in Japan is set to take effect in April, requiring businesses to minimize their usage of plastics. As customers and investors pay more attention to firms' social responsibility and environmental performance, demand for Kaneka's biodegradable polymer has increased.
In April 2021, NatureWorks announced a new strategic partnership with IMA Coffee, which is a market leader in coffee handling processing and packaging. This partnership aims at increasing the market reach for high-performing compostable K-cup in North America.
In February 2020, BASF and Fabbri Group (Italy) formed a joint venture to develop a sustainable solution for cling film used in fresh-food packaging. The film will be used in wrapping meat, seafood, and fresh fruits & vegetables. It will be made by the Fabbri group with BASF's Ecovio bioplastic and will boost the demand for biodegradable plastics in packaging applications.

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Biodegradable Polymer Market Segmentation:

Biodegradable Polymer Market by Type, 2020-2029, (USD Millions, Kilotons)

PLA (Polylactic Acid)
Starch Blends
PHA (Polyhydroxyalkanoates)
Biodegradable Polyesters

Biodegradable Polymer Market by End-Use, 2020-2029, (USD Millions, Kilotons)

Packaging
Consumer Goods
Textiles
Agriculture & Horticulture

Growth Factors:

Increasing demand from the Biodegradable Polymer industries
The growing use of Biodegradable Polymer in Chemical and Material Sectors.
Rising demand for products
Technological advancements in production processes
Growing applications in Biodegradable Polymer Market

Biodegradable Polymer Market Regional Analysis

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Fiberglass Storage Tank (Fiberglass Tank) Professional in these regions, from 2022-2029, covering

North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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Key Biodegradable Polymer Market Trends

- The report identifies, determines, and forecasts the Global Biodegradable Polymer Market segments based on their type, sub-type, technology used, applications, end-users, and regions.

- Industry to Industry Holds Largest Share in the Biodegradable Polymer Market

- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.

- Demand from Regional / geographical is expected to drive the Growth

- Rising Adoption of Market Segments in the Biodegradable Polymer Growth

- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Biodegradable Polymer Market.

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