Press release
Europe Biodegradable Plastics Market on the Rise: Expected Demand of $1.9 Billion by 2027
Eco-friendly nature and rise in consumer adoption of biodegradable plastics, high demand of biodegradable plastic in food packaging application, and favorable government toward bioplastic augment the growth of the Europe biodegradable plastics market. Nevertheless, high cost of biodegradable plastic restrains the market growth. However, rise in CSR activities and decreasing dependence on petroleum resource is expected to usher new opportunities in the near future.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ : https://www.alliedmarketresearch.com/request-sample/A07188
Biodegradable plastics undergo physical and biological decomposition, ultimately breaking down into carbon dioxide (CO2), biomass, and water. Compliant with European packaging standards, these plastics are recoverable through composting and anaerobic digestion. Manufactured using microorganisms, renewable raw materials, and petrochemicals, biodegradable plastics are eco-friendly and non-toxic. They are primarily derived from natural plant materials such as corn oil, orange peels, starch, and various plants.
The market is segmented on the basis of type, application, and country. Based on type, the market is divided into polylactic acid (PLA), polybutylene adipate terephthalate (PBAT), polybutylene succinate (PBS), polyhydroxyalkanoates (PHA), starch blends, and others. The starch blend segment accounted for more than one-third of the Europe biodegradable plastics market in 2019, and is expected to maintain its dominance in terms of revenue throughout the forecast period. On the other hand, the PLA segment is estimated to portray the highest CAGR of 11.7% from 2020 to 2027.
๐๐ฎ๐ซ๐๐ก๐๐ฌ๐ ๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐ฉ๐จ๐ซ๐ญ @ https://www.alliedmarketresearch.com/purchase-enquiry/A07188
Based on applications, the market is categorized into packaging, agriculture, textile, consumer durable, and others. The packaging segment contributed to the highest market share with more than two-thirds of the Europe biodegradable plastics market in 2019, and is estimated to dominate throughout the forecast period. Nevertheless, the agriculture segment is estimated to generate the fastest CAGR of 11.5% from 2020 to 2027.
Based on country, the Europe biodegradable plastics market across France accounted for the highest share based on revenue, holding for around one-fourth of the revenue in 2019, and is expected to rule the roost throughout the forecast period. Conversely, Poland is estimated to portray the fastest CAGR of 14.6% from 2020 to 2027. The report also includes regions such as UK, Germany, Italy, Spain, Romania, Bulgaria, Hungary, Slovakia, Slovenia, Czech Republic, Austria, and rest of Europe.
The frontrunners profiled in the report include Danimer Scientific, Dow Inc., BASF SE, Biotec Pvt. Ltd., Biotrem, Eastman Chemical Company, Hemp Plastic, Minima, Mitsubishi Chemical Holdings, Novamont SpA, and Solanyl Biopolymers.
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