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Global Biodegradable Films Market 2023 - By Growth, Revenue, Trends, Industry Share And Forecast To 2032
Biodegradable Films Market
The Business Research Company's Biodegradable Films Global Market Report 2023 identifies growing bioplastics industry worldwide as the major driver for the Biodegradable Films market's growth in the forecast period. Bioplastic refers to a polymer that is created into a commercial product using renewable or natural resources. Bioplastics are used in biodegradable films to replace single-use plastics since they are renewable and biodegradable.
The global biodegradable films market size is expected to grow from $1.18 billion in 2022 to $1.27 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The biodegradable films market is expected to grow to $1.64 billion in 2027 at a CAGR of 6.5%.
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Major competitors in the Biodegradable Films market are BASF SE, Futamura Chemical Co. Ltd., Taghleef Industries, BioBag Americas Inc., Plascon Group, Avery Dennison Corporation.
A key trend in the Biodegradable Films market includes technological advancements. Major companies operating in the market are using advanced technologies in their products to sustain their position in the biodegradable films market. For instance, in January 2021, a European-based manufacturer of biodegradable and compostable flexible films launched Eco-Corr® Biodegradable VpCI® Film with Cortec's proprietary VpCI® Technology. EcoCortec® has developed the world's first Eco-Corr Film® ESD, high-performance anti-static and corrosion-inhibiting films and bags for the electronics, telecommunications, packaging, and electric vehicle industries. Within two to three months in a professional composting setting, Eco-Corr Film® will decompose into carbon dioxide and water.
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The Biodegradable Films market is segmented -
• By Type: Polylactic Acid (PLA), Starch Blends, Biodegradable Polyesters, Polyhydroxyalkanoates (PHA), and Other Types
• By Application: Bags, Mulch Films, Wrapping Films, Liners, Other Applications
• By End-Use: Food And Beverage, Healthcare, Personal Care And Cosmetics, Agriculture, Metal, Glass, Other End-Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Biodegradable Films market.
The Business Research Company's "Global Biodegradable Films Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Biodegradable Films Market Include:
1. Executive Summary
2. Biodegradable Films Market Characteristics
3. Biodegradable Films Market Trends And Strategies
4. Biodegradable Films Market - Macro Economic Scenario
5. Biodegradable Films Market Size And Growth
……………………………….
26. Africa Biodegradable Films Market
27. Biodegradable Films Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Biodegradable Films Market
29. Biodegradable Films Market Future Outlook and Potential Analysis
30. Appendix
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