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Global Biodegradable Films Market Comprehensive Study: Forecasted Market Size And Growth Rate
Biodegradable Films Market
The Business Research Company offers in-depth market insights through Biodegradable Films Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The biodegradable films market size has grown strongly in recent years. It will grow from $1.27 billion in 2023 to $1.36 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to cost challenges and technological limitations, introduction of pilot projects, initial consumer education efforts, initiatives for waste reduction, rise in eco-friendly practices..
The biodegradable films market size is expected to see strong growth in the next few years. It will grow to $1.79 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to improvements in cost competitiveness, global market expansion, r&d investments, expansion in agriculture applications, global waste management concerns.. Major trends in the forecast period include shift from plastic to sustainable materials, environmental concerns and regulations, advancements in material science, demand from food packaging industry, focus on circular economy..
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Market Segmentation:
The biodegradable films market covered in this report is segmented -
1) By Type: Polylactic Acid (PLA) , Starch Blends, Biodegradable Polyesters, Polyhydroxyalkanoates (PHA) , Other Types
2) By Application: Bags, Mulch Films, Wrapping Films, Liners, Other Applications
3) By End-Use: Food And Beverage, Healthcare, Personal Care And Cosmetics, Agriculture, Metal, Glass, Other End-Users
Major Driver - The Bioplastics Boom Fueling A Surge In Biodegradable Film Market Growth
The growing bioplastics industry worldwide is expected to propel the growth of the biodegradable film market going forward. 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. For instance, in December 2021, according to European Bioplastics (EUBP), a European-based association representing the interests of the bioplastics industry, the worldwide bioplastics manufacturing capacity is set to rise significantly from around 2.4 million tonnes in 2021 to 7.5 million tonnes in 2026. Therefore, the growing bioplastic industry worldwide is driving the growth of the biodegradable film market.
Competitive Landscape:
Major companies operating in the biodegradable films market report are BASF SE, Futamura Chemical Co. Ltd., Taghleef Industries LLC, BioBag International AS, Plascon Group, Avery Dennison Corporation, Walki Group Oy, Bi-Ax International Inc., Cortec Corporation, Clondalkin Group, Groupe Barbier, Kingfa Sci & Tech Co. Ltd., Tipa Corp Ltd., Novamont SpA, Sigmund Lindner GmbH, Organix AG, Armando Alvarez Group, Amtrex Nature Care Pvt Ltd., Solos Polymers Pvt. Ltd., ENVIPLAST, Xinle Huabao Medical Products Co. Ltd., Tilak Polypack Private Limited, EcoBharat, Polynova Industries Inc., Magical Film Enterprise Co. Ltd., Chintec Limited, RKW Group, Dow Chemical Company, Plastiroll Oy, Mondi Group, Innovia Films Ltd., Toray Industries Inc., Mitsubishi Chemical Corporation, NatureWorks LLC, Danimer Scientific Inc., Total Corbion PLA, Synbra Technology BV
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Top Trend - Cutting Edge Technological Innovations Propel Growth In The Biodegradable Film Market
Technological advancements are a key trend gaining popularity in the biodegradable film market. 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 Europe-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.
The Table Of Content For The Market Report 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
…..
27. Biodegradable Films Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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