Press release
Biodegradable Films Market Key Players Analysis- BASF SE, Futamura Chemical Co. Ltd, Taghleef Industries, Walki Group Oy, Kingfa Sci & Tech Co.
Biodegradable Films Market
The global biodegradable films market is estimated to reach over USD 2.1 Billion by the year 2034, exhibiting a CAGR of 6.4% during the forecast period.
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Biodegradable mulch films play a vital role in enhancing agricultural productivity by contributing to solutions for pressing global concerns such as water conservation, soil pollution, and climate change. As the global population continues to grow at a rapid pace-a trend expected to persist throughout the forecast period-there is an increasing need to meet rising food demand driven by higher per capita consumption. In response, efforts are being made to develop high-yield crop varieties.
Biodegradable mulch films support this objective by improving crop yields through accelerated germination, reducing direct crop-to-soil contact, and retaining fertilizers and nutrients near the root zone. As a result, the demand for biodegradable mulch films is projected to increase significantly in the coming years. However, a notable challenge facing the market is that these films require specific environmental conditions to degrade effectively. When such conditions are not met, the decomposition process is hindered, limiting their environmental benefits and presenting a barrier to broader market adoption.
List of Prominent Players in the Biodegradable films market:
• BASF SE
• Futamura Chemical Co. Ltd
• Taghleef Industries
• Walki Group Oy
• Kingfa Sci & Tech Co. Ltd
• BioBag Americas Inc
• Avery Dennison Corporation
• Plascon Group
• Bi-Ax International Inc
• Cortec Corporation
• Clondalkin Group
• TRIOWORLD INDUSTRIER AB
• Groupe Barbier
• Paco Label
• Layfield Group
• Polystar Plastics Ltd.
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Market Dynamics
Drivers:
The rising demand for biodegradable films is primarily driven by concerns over the fluctuating prices and long-term availability of fossil fuels. Additionally, the expansion of the sustainable packaging industry is contributing positively to market growth. However, the comparatively higher production costs of biodegradable films, when compared to conventional plastic films, continue to pose a restraint to widespread adoption.
Challenges:
A key challenge confronting the biodegradable film market is related to performance limitations. In many cases, biodegradable films may not match the strength and durability of traditional plastic films, making them more susceptible to tearing or puncturing during use. This is particularly problematic in applications requiring high mechanical performance. Additionally, biodegradable films often exhibit different moisture barrier properties, which can affect their suitability for specific uses, such as food packaging. Variability in performance-based on the raw materials and manufacturing processes used-also complicates the selection process for manufacturers, necessitating additional testing and development to ensure application compatibility.
Regional Trends:
The Asia Pacific region is expected to lead the global biodegradable films market, supported by growing demand for environmentally friendly packaging solutions and favorable regulatory frameworks. The food packaging sector is projected to be the largest application area, driven by increasing concerns over the environmental impact of conventional plastic packaging within the food and beverage industry. North America also represents a significant and rapidly expanding market, fueled by strong consumer preference for sustainable products and proactive government initiatives aimed at reducing plastic waste.
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Recent Developments:
• In September 2020, For the third consecutive year, AVERY DENNISON CORPORATION Brazil received the Industry Sustainability Award for its label-waste recycling program. This success is anticipated to increase its reputation and sales across the nation and the continent.
Segmentation of the Biodegradable films market-
By Application-
• Agriculture & Horticulture
• Cosmetic & Personal Care Products Packaging
• Industrial Packaging
• Others (Composting, Service Ware, and Carrier Bags)
By Type-
• PLA
• Starch Blends
• Biodegradable Polyesters
o PCL
o PBAT
o PBS
• PHA
• Others (Regenerated Cellulose and Cellulose Derivatives)
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
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