Biodegradable Polymers Market Size, Shares, Growth, Segments, Industry Analysis & Outlook by 2023

Biodegradable polymers contain polymer chains that are hydrolytically or enzymatically cleaved, which results in soluble degradable products. Biodegradable polymer degrade quickly when compared to non-biodegradable polymers and there byproducts are eco-friendly such as CO2, water, methane and inorganic compounds or biomass that is easily scavenged by microorganisms. Lactic Acid and Polyhdroxyalkanoates are the well-known examples of biodegradable polymers used in many industries. Moreover, biodegradable polymers also finds application in biomedical, plastics and packaging due to facts such as they are non-toxic, sterilize, effective and bio compatible.

Market Insights

The global biodegradable Polymers market is projected to grow with a CAGR between 20.0% and 20.5% during 2017-2023. Growing consumer demand towards eco-friendly packaging and changing consumer focus towards healthier living which results in increasing demand for natural, sustainable and green products is the prime factor driving the global biodegradable polymers market. Moreover, intensity in the prices of crude oil which is raw material for the production of petroleum based polymer also helps in driving the demand of biodegradable polymers globally over the traditional petroleum polymers. Furthermore, increasing demand for biodegradable polymers from the application such as biomedical, agriculture and packaging are also anticipated to drive the global biodegradable polymers market over the forecast period. However, fewer biodegradable applications to replace synthetic based plastic materials and high manufacturing cost are the key restraining factors hampering the growth of biodegradable market across the globe. Nevertheless, growing initiatives by government to promote renewable & sustainable polymers, green products and regulations forcing key vendors for manufacturing biodegradable polymers as well as economical raw material prices required for the production of biodegradable polymers will bring more opportunities to the global biodegradable polymers market over the forecast period.

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Segments Covered:

The report segments the biodegradable polymers market by type, by application and by region. Market segmentation based on type includes polymer with hydrolyzable backbone, polymers with carbon and natural polymers. Moreover, polymer with hydrolyzable backbone type segment is further classified into polyglycolic acid (PGA), polycaprolactone (PCL), polyamides, polyurethanes and others. The polymers with carbon backbone type segment is further classified into polyvinyl alcohol (PVA) and natural polymers type segment are further classified into amylopectin, starch, amylase, chitin & chitosan and others. However, the global biodegradable polymers market based on application is segmented into pharmaceutical, packaging, agricultural, bio medical and others.

Geographic Coverage and Analysis:

The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, Latin America and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2017 – 2023.

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Europe is accounted for the largest market share in biodegradable polymers market and is anticipated to grow at a highest CGAR rate over the forecast period due to market maturation and greater consumer awareness regarding usage of renewable polymers in European region. Moreover, manufacturing advancements and growing initiatives of government towards manufacturing of biodegradable polymers in countries like Netherlands and Germany will further drive the European biodegradable polymers market over the forecast period. Following the Europe, North America is accounted as the second largest market for the biodegradable polymer market and is likely to witness a significant growth over the forecast period due to rising consumer awareness regarding green products, government regulations forcing manufacturers to shift towards renewable & substantial polymers and increasing crude oil prices. Nevertheless, Asia Pacific is also expected to grow at a substantial rate owing to presence of large market for biodegradable polymers such as China, India and Japan. Furthermore, rapid industrialization and increasing end user applications results in growing demand for biodegradable polymers market especially in emerging markets such as China, India, Taiwan and South Korea.

Companies Profiled:

The companies covered in the report include Cereplast, BASF, Cortec Group, FP International, Mitsui Chemicals, BIOTEC GmbH & Co., Arkema, Novamont, Evonik Industries, DuPont, Meredian Holdings Group, Metabolix, Ecospan and Toray & Industries.

Report Highlights:

The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of biodegradable polymers globally as well as regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and value chain analysis of biodegradable polymers.

Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the biodegradable polymers market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of the biodegradable polymers market to understand the present and future trends in this market and formulate their strategies accordingly.

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