Press release
Biodegradable Films Market Report 2024: Size, Share, Trends And Outlook to 2033
Biodegradable Films Market
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 & regulations, advancements in material science, dem& from food packaging industry, focus on circular economy.
Market Overview -
Biodegradable films refer to packaging films that are made of plastic & contain additives during production. These additives, which are often enzymes, aid in the degradation of the plastic or are made from proteins, polysaccharides, or fatty components.
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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 & 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 L&scape -
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, Arm&o 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
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 & 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 & corrosion-inhibiting films & bags for the electronics, telecommunications, packaging, & electric vehicle industries. Within two to three months in a professional composting setting, Eco-Corr Film will decompose into carbon dioxide & water.
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Key Segments -
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 & Beverage, Healthcare, Personal Care & Cosmetics, Agriculture, Metal, Glass, Other End-Users
Key highlights covered in the report -
1. Detailed market size forecast & historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends & potential opportunities in the market
4. Analysis of major players strategies, to underst& competitive dynamics & market positioning
5. Evaluation of regional dynamics
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