The report "Biodegradable Plastics Market by Type (PLA, Starch Blends, PHA, Biodegradable Polyesters), End Use Industry (Packaging, Consumer Goods, Textile, Agriculture & Horticulture), and Region (APAC, Europe, North America & RoW) - Global Forecast to 2026" The global biodegradable plastics market size is projected to grow from USD 7.7 billion in 2021 to USD 23.3 billion by 2026, at a CAGR of 24.9% between 2021 and 2026.

 

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=93                                       

Browse in-depth TOC on "Biodegradable Plastics Market”

153 - Tables

44 - Figures

236 – Pages

Biodegradable plastics are defined as plastics that undergo biodegradation (a process in which the degradation results from the action of naturally occurring micro-organisms such as bacteria, fungi, and algae). The biodegradable plastics market includes both bio-based biodegradable plastics and synthetic/petrochemical-based biodegradable plastics. The market is witnessing significant growth across the world due to the increasing awareness and stringent government regulations about the use of non-biodegradable plastics. Biodegradable plastics are used in packaging, consumer goods, textiles and agriculture & horticulture among other end-use industries.

 

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=93

 

PLA type will account for the major share of the market in terms of value

PLA is the largest type of segment of the biodegradable plastics market, as it is used in various end-use industries such as packaging & bags and consumer goods. PLA is made from renewable resources, and it is compostable as well as biodegradable. It is derived from corn starch (in the US and Canada), tapioca roots, chips, or starch (mostly in Asia), or sugarcane (in RoW). This makes PLA non-toxic and environmentally friendly material. The key applications of PLA are thermoformed products, namely, drink cups, takeaway food trays, containers, and planter boxes. It has good rigidity and allows for replacement of polystyrene and PET in such applications. PLA is being adopted rapidly as it is more economical to manufacture compared to other biodegradable plastics.

 

In terms of value, the packaging segment is projected to account for the largest share of the biodegradable plastics market, by end-use industry, during the forecast period.

Packaging is one of the end-use industries that dominates the biodegradable plastics market. Biodegradable plastics have increasing demand to replace conventional plastics to address environmental concerns. Thermoset plastics (soy polyurethanes and unsaturated polyester resins) and thermoplastics (PLA, starch blends, PBS, PHA, and cellulose) are the two types of biodegradable plastics mainly used in the packaging industry. The use of biodegradable plastics is increasing in applications such as bottles, films, clamshell cartons, waste collection bags, carrier bags, mulch films, and food service ware.

 

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=93

 

Europe is estimated to be the fastest-growing market for biodegradable plastics between 2021 and 2026.

Europe is estimated to be the fastest-growing market for biodegradable plastics between 2021 and 2026. The political and economic conditions have driven the market penetration of biodegradable plastics. The strict government norms and economic conditions have also driven the biodegradable plastics market. These factors have been responsible for the development of biodegradable plastics with collaborative research in the region.

The key players in this market are BASF (Germany), NatureWorks (US), Total Corbion (Netherlands), Novamont (Italy), Biome Bioplastics (UK), Mitsubishi Chemical Holding Corporation (Japan), Toray Industries (Japan), Plantic Technologies (Australia), Danimer Scientific (US), and Fkur Kunstsoff (Germany).

 

For More Insights on Biodegradable Plastics Market- https://www.prnewswire.com/news-releases/biodegradable-plastics-market-worth-23-3-billion-by-2026--exclusive-report-by-marketsandmarkets-301502789.html

 

About MarketsandMarkets

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

 

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

 

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

 

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

 

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
[email protected]