Biodegradable Plastics Market 2023 Overview, Opportunities, Top Manufactures, Market Dynamics, And Forecasts To 2029

Market Overview:
Global Biodegradable Plastics Market was valued at USD 3.78 billion in 2021 and is expected to reach USD 6.48 billion by the year 2028, at a CAGR of 8%.

Biodegradable plastics are plastics that can be decomposed by the action of living organisms, usually microbes, into the water, carbon dioxide, and biomass. Biodegradable polymers are frequently made from petrochemicals, microorganisms, green raw materials, or mixtures of all three. Different biodegradable polymers only dissolve in specific, environments but the majority require industrial composting facilities. They may biodegrade outdoors, but the rate at which this happens varies, and the relevant test procedures and standards are not clearly specified or widely recognized. Biodegradable plastics are commonly used for disposable items, such as packaging, cutlery, and food service containers.

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Market Dynamics:
Driver:
The increase in the packaging and compostable bag application has driven the market for Biodegradable Plastics. As Packaging is the fastest-growing industry globally. Huge amounts of plastic bags are used annually. This requires the large production of the begs which ultimately drive the market of Biodegradable plastics. The increasing use of plastics can cause many harmful effects on the environment. But with the advent of digital media people are now preferring to use recyclable and eco-friendly materials.

Opportunities:
There is a vast opportunity for many players in biodegradable plastics. Many companies are recently started to implement organic and inorganic strategies for growth. As not all biodegradable plastics do not decompose in a natural environment they require specific moisture and temperature. Some biodegradable plastic release greenhouse gases during decomposition, which is hazardous to the environment. So, many companies have started integrating different types of biodegradable plastics, in order to decompose them thoroughly. This provides a vast number of opportunities for major companies to grow and make strategies to decompose plastic.

The Report Will Contains A Crucial Chapter
• Patent Analysis
• Regulatory Framework
• Technology Roadmap
• BCG Matrix
• Heat Map Analysis
• Price Trend Analysis
• Investment Analysis
• Company Profiling and Competitive Positioning
• Industry Value Chain Analysis
• Market Dynamics and Factors
• Porter's Five Forces Analysis
• Pestle Analysis
• SWOT Analysis

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Segmentation of The Biodegradable Plastics Market
By Type
• Polylactic Acid [PLA]
• Polybutylene Adipate Terephthalate [PBAT]
• Polybutylene Succinate [PBS]
• Polyhydroxyalkanoates [PHA]
• Starch Blends
• Others

By Application
• Packaging
• Agriculture
• Consumer Durable
• Textile
• Others

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Regional Analysis of the Biodegradable Plastics Market:
The Asia Pacific region is expected to dominate the biodegradable plastic market during the forecast period. This dominance is majorly accredited to healthy economic developments for biodegradable plastics applications in the packaging sector and rising consumer positive outlook towards its utilization to reduce plastic pollution. Developing countries such as China and India have implemented severe regulations on conventional plastics utilization and major biodegradable plastic manufacturers in these countries are launching sustainable packaging solutions such as bio-based products, which is expected to drive the market growth in the review time.
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA

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Key Players For The Biodegradable Plastics Market:
• BASF SE
• Dow Inc.
• Novamont S.p.A.
• Plantic
• Natureworks
• Corbion N.V.
• Biome Technologies plc
• Mitsubishi Chemical Holdings
• Eastman Chemical Company
• Danimer Scientific and other major players.

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Key Industry Developments in the Biodegradable Plastics Market:
In October 2021, Biodegradable Future has joined forces with Ocean Plastics Charter of Canada, the Canadian Government, and Biodegradable Future are executed to taking strong actions that dispose with a greener future and share similar goals & objectives. Making a difference in the sustainability arena is of the highest significance and this collaborate will ensure a positive sustainable impact in the fight against plastic pollution.

In April 2021, NatureWorks declared a new strategic collaboration with IMA Coffee, which is a market leader in coffee handling processing and packaging. This collaboration focuses on growing the market reach for high-performing compostable K-cup in North America.

Table of Content:
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Growth Opportunities By Segment
Chapter 4: Market Landscape
Chapter 5: Biodegradable Plastics Market by Type
Chapter 6: Biodegradable Plastics Market by Application
Chapter 7: Company Profiles and Competitive Analysis
Chapter 8: Global Biodegradable Plastics Market Analysis, Insights and Forecast, 2016-2028
Chapter 9: North America Biodegradable Plastics Market Analysis, Insights and Forecast, 2016-2028
Chapter 10: Europe Biodegradable Plastics Market Analysis, Insights and Forecast, 2016-2028
Chapter 11: Asia-Pacific Biodegradable Plastics Market Analysis, Insights and Forecast, 2016-2028
Chapter 12: Middle East & Africa Biodegradable Plastics Market Analysis, Insights and Forecast, 2016-2028
Chapter 13: South America Biodegradable Plastics Market Analysis, Insights and Forecast, 2016-2028
Chapter 14 Investment Analysis
Chapter 15 Analyst Viewpoint and Conclusion

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