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Biodegradable Plastics Market worth $16.96 billion by 2030, growing at a CAGR of 12.60% - Exclusive Report by 360iResearch
Biodegradable Plastics Market | 360iResearch
The Global Biodegradable Plastics Market to grow from USD 7.38 billion in 2023 to USD 16.96 billion by 2030, at a CAGR of 12.60%.
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Biodegradable plastics are environmentally friendly materials designed to break down efficiently and safely under natural conditions, leading to their disintegration into harmless byproducts. These materials are engineered to undergo degradation processes facilitated by various biological agents, such as microorganisms, fungi, and algae. The production of biodegradable plastics involves using renewable resources, such as starches derived from corn or potatoes, cellulose extracted from plants, and organic polymers synthesized by bacteria. The stringent government regulations on single-use plastics disposal and increasing public awareness about environmental conservation can increase the adoption of biodegradable plastics. However, higher production costs of bio-based materials than traditional petroleum-based plastics deter widespread adoption. Nevertheless, technological advancements leading to new product development using bio-based raw materials, including polylactic acid (PLA) or polyhydroxyalkanoate (PHA), and the increasing demand for biodegradable plastics in niche applications such as 3D printing materials, biomedical devices, and marine pollution control solutions creates significant opportunities for the biodegradable plastic industry.
In America, factors such as supportive governmental policies for reducing single-use plastics, increased consumer awareness about plastic waste, and growing interest in environmentally friendly packaging solutions are driving the market growth. The European Union's stringent regulations on plastic waste management have significantly contributed to the development and adoption of biodegradable plastic. In addition, several manufacturing industries adopt sustainable materials in their production, supporting the penetration of biodegradable plastic. Rapid urbanization and industrialization, coupled with increased environmental concerns, are driving this growth, particularly in countries such as China, India, Japan, and South Korea. In addition to that, several market players are focusing on R&D, and the introduction of innovative biodegradable plastic are propelling the adoption of biodegradable plastics in this region.
Market Segmentation & Coverage:
This research report categorizes the Biodegradable Plastics Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Type, market is studied across PBAT, PBS, PHA, PLA, and Starch Based. The Starch Based commanded largest market share of 28.69% in 2023, followed by PLA.
Based on Application, market is studied across Agriculture, Injection Molding, Packaging, and Textile. The Injection Molding commanded largest market share of 39.62% in 2023, followed by Textile.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 44.16% in 2023, followed by Asia-Pacific.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Biodegradable Plastics Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Biodegradable Plastics Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Biodegradable Plastics Market, highlighting leading vendors and their innovative profiles. These include Arkema SA, ARMANDO ÁLVAREZ, S.A., BASF SE, Bewi Group, Bio-on S.p.A., Biome Bioplastics Limited, BioPak Pty Ltd by Duni AB, Braskem SA, CHUKOH CHEMICAL INDUSTRIES, LTD., Clondalkin Group Holdings B.V., Coperion GmbH, Danimer Scientific, European Bioplastics e.V, Green Dot Bioplastics Inc., Kuraray Co., Ltd., Mitsubishi Chemical Corporation, NatureWorks LLC, Novamont SpA, Plantic Technologies Ltd., Shimadzu Corporation, SpecialChem S.A., TianAn Biologic Materials Co., Ltd., Tianjin Greenbio Materials Co., Ltd., Toray Industries Inc., and Total Corbion PLA.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Biodegradable Plastics Market, by Type
7. Biodegradable Plastics Market, by Application
8. Americas Biodegradable Plastics Market
9. Asia-Pacific Biodegradable Plastics Market
10. Europe, Middle East & Africa Biodegradable Plastics Market
11. Competitive Landscape
12. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Biodegradable Plastics Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Biodegradable Plastics Market?
3. What is the competitive strategic window for opportunities in the Biodegradable Plastics Market?
4. What are the technology trends and regulatory frameworks in the Biodegradable Plastics Market?
5. What is the market share of the leading vendors in the Biodegradable Plastics Market?
6. What modes and strategic moves are considered suitable for entering the Biodegradable Plastics Market?
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About 360iResearch
360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset - our people.
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