Biodegradable plastics are defined as plastics that undergo decomposition in a specified period of time under composting conditions in industrial facilities. The global biodegradable plastics market is still in its infancy and accounts for less than 1% of the overall plastics market.
However, with continuous R&D activities undertaken by the market players, the market is growing at a fast pace. The high cost of biodegradable plastics acts as a major restraint in the growth of the market. But with increasing environmental awareness, supporting government policies, and continuous R&D efforts by the market players to balance the economies of scale, the cost of biodegradable plastics may be reduced and made more cost effective.
The major drivers contributing towards the growth of biodegradable plastics market are:
- Use of renewable & bio-based raw material
- Biodegradability
- Positive attitude of government towards green procurement policies
- Shift in consumer preferences towards ecofriendly packaging
About the market
The global biodegradable plastics market is expected to grow at a rapid pace during the forecasted period (2015-2020). The market is mainly driven by increased environmental awareness and implementation of stringent environmental regulations.
Western Europe is the largest market for the biodegradable plastics. The region accounted for more than 45% of the global biodegradable plastics demand in 2014. The major driver for growth of biodegradable plastics market in Western European region is the growing environmental awareness among the general population. The growth is also boosted by the stringent policies and regulations implemented by governments in the region. Italy has banned the use of petroleum based plastic bags, whereas there is a tax levied on use of petroleum based plastic bags in countries like Ireland, Germany, and others.
This study estimates the global biodegradable plastics market for 2015 and projects the demand of the same by 2020. This market research study provides a detailed qualitative and quantitative analysis of the global biodegradable plastics market. It also includes a comprehensive review of the major market drivers, restraints, opportunities, winning imperatives, challenges, and key issues in the market. The market is segmented and forecasted based on major regions—Western Europe, North America, Asia-Pacific, and Rest of the World (RoW). Various secondary sources such as encyclopedia, directories, and databases have been used to identify and collect information for this extensive commercial study of the biodegradable plastics market. The primary sources, experts from related industries and suppliers, have been interviewed to obtain and verify critical information as well as to assess the future prospects of the market.
Competitive scenario of the top players in the biodegradable plastics market has been discussed in detail. The top players of the industry are profiled in detail with their recent developments and other strategic industry activities. The top players include Metabolix Inc. (U.S.), BASF SE (Germany), Corbion N.V. (Netherlands), Natureworks LLC (U.S.), Biome Technology Plc (U.K.), and others.
Scope of the report: This research report categorizes the global market for biodegradable plastics on the basis of type, application, and region and forecasts the market size in terms of value and volume. The report also analyzes the market trends in each of the regions.
On the basis of type: The biodegradable plastics market is segmented as follows:
- PLA
- Starch Blends
- PCL
- Regenerated Cellulose
- PBS, and
- PHA
On the basis of applications: The biodegradable plastics market is further segmented into the following categories:
- Packaging
- Fibers
- Agriculture
- Injection Molding, and
- Others
On the basis of region: The global biodegradable plastics market is segmented into four regions, namely Western Europe, North America, Asia-Pacific, and RoW.
Available Customizations: The following customization options are available for the report:
- Cup Market Analysis: Analysis of biodegradable plastics cup market (Global level data)
- Paper Lamination Market:Analysis of biodegradable plastics lamination market (Global level data)
- Company Information:
Analysis and profiling of additional global as well as regional market players (Up to 3)
Source
MarketsandMarkets, press release, 2015-08.
Supplier
BASF SE
Biome Technologies
Corbion
Marketsandmarkets
Metabolix
NatureWorks LLC
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