Biodegradable Plastics Market Report Overview:
The primary goal of MMR's Biodegradable Plastics market report is to assist clients in making informed business decisions. This involves identifying areas that require improvement, recognizing well-performing segments, and guiding new entrants in navigating and establishing their presence within the competitive landscape. The report also sheds light on the existing challenges within the Biodegradable Plastics market.
Anticipated Growth in Revenue:
Biodegradable Plastics Market was valued US$ 3.02 Bn. in 2022 and is estimated to grow at CAGR of 15.1%, to reach US$ 8.10 Bn. by 2029 during the forecast period.
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Biodegradable Plastics Market Scope and Research Methodology
The report offers a comprehensive analysis of global Biodegradable Plastics market trends, forecasts, and financial aspects. It presents an in-depth examination of segments and sub-segments within both global and regional Biodegradable Plastics markets. Utilizing a bottom-up approach, the report delves into estimations of market size. The Biodegradable Plastics Market report encompasses essential information about key market participants and emerging players, including their services, revenue, financial standing, portfolios, growth strategies, and regional presence. Future market size and growth rate predictions, alongside current and prospective trends in the Biodegradable Plastics market, are also provided.
The report delves into demand projections, market trends, and micro and macro factors in detail. It identifies drivers and constraints impacting the growth of the Biodegradable Plastics market. Employing both qualitative and quantitative methods, the research employs tools such as SWOT, PESTLE, and Porter's Five Forces for the analysis of the Biodegradable Plastics market. The analysis identifies key upcoming developments projected to shape demand within the Biodegradable Plastics market over the forecast period.
Biodegradable Plastics Market Regional Revelations:
Geographically, Biodegradable Plastics market report is segmented into several key regions are as follows,
- Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)
- Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
- North America (the United States, Mexico, and Canada.)
- South America (Brazil etc.)
- The Middle East and Africa (GCC Countries and Egypt.)
Biodegradable Plastics Market Segmentation:
by Type
Starch Blends
Polybutylene Succinate PBS
Polylactide PLA
Polybutylene adipate/terephthalate PBAT
Polyhydroxyalkanoates PHA
Others (Cellulose Derivatives and Regenerated Cellulose)
With a 10.4% CAGR growth rate anticipated over the projected period, the starch-based category is anticipated to lead the market. In the automotive, agricultural, and packaging industries, among other end-user sectors, starch-based polymers are widely utilized. Additionally, starch-based polymers are frequently employed to reduce carbon footprints because they are highly degradable and used as an alternative to petroleum-based polymers. The market for PLA plastics is expanding quickly as well, particularly in the European Union. One of the key reasons for this expansion is because PLA is quite inexpensive when compared to other plastic types.
by Application
Packaging & Bags
Consumer Goods
Agriculture & Horticulture
Textile
Others (Automotive and Building & Construction)
7 million was the packaging industry's revenue in 2022, and it is expected to rise at a compound annual growth rate (CAGR) of 8 throughout the forecast period. Increasing demand for and use of biodegradable plastic packaging in the consumer goods, food and beverage, textile, and pharmaceutical industries is the main driver of growth, prolonging the market's expansion throughout the projected period. Further encouraging the use of biodegradable plastics in agriculture were farmers' shifting lifestyles and increased understanding of the benefits of producing fruits and vegetables in greenhouses.
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Biodegradable Plastics Market Key Players:
1. NatureWorks
2. BASF
3. Total Corbion PLA
4. Mitsubishi Chemical
5. Biome Bioplastics
6. Plantic Technologies
7. Bio-On
8. Danimer Scientific
9. Novamont S.p.A
10. Toray Industries
11. DowDuPont Inc
12. Eastman Chemical Company
13. Mondi PLC
14. Amcor Limited
15. Kruger Inc.
16. Tetra Pak International SA
17. Plastic Suppliers Inc.
18. Stora Enso
19. WestRock
20. Archer Daniels Midland
21. Perstorp, K.D
22. FEDDERSEN
23. UrthPact, LLC
24. Indochine Bio Plastiques (ICBP) Sdn. Bhd.d.
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Key questions answered in the Biodegradable Plastics Market are:
- What was the Biodegradable Plastics market size in 2023?
- What is the growth rate of the Biodegradable Plastics Market?
- Which are the factors expected to drive the Biodegradable Plastics market growth?
- What are the different segments of the Biodegradable Plastics Market?
- What are the factors restraining the growth of the Biodegradable Plastics Market?
- What segments are covered in the Biodegradable Plastics Market?
- Who are the key players in the Global Biodegradable Plastics market?
- What are the upcoming industry applications and trends for the Biodegradable Plastics Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2023)
- Past Pricing and price curve by region (2018 to 2023)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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