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Horticulture Bioplastic Market – Current Trends and Growth Drivers Along with Key Industry Players 2029
Better production, enhanced mechanization, and easier logistics are some of the key contributors to the higher usage of plastics in the horticulture industry. They have quickly replaced heavy and brittle clay pots as they are not as lightweight and durable as plastics. As globalisation gains momentum, the demand for exotic plants has increased. To this end, many greenhouses, growers, and nurseries are investing in larger, more efficient, and profitable logistical mediums and packaging, which is plastic. Although, as the environmental impact of plastics attracts higher scrutiny, bioplastics have grown in demand. Bioplastics are made up of sustainable materials such as vegetable oils and fats, soybean flour, and cornstarch. This is setting the stage for the growth of the global horticulture bioplastic market. In the coming years, favourable government initiatives and paced urbanisation is expected to lead the market to sound maturity.
For More Industry Insights Read: https://www.fairfieldmarketresearch.com/report/horticulture-bioplastic-market
Favourable Government Norms to Sustain Market Growth
In the recent past, worsening plastic pollution trends have paved the way for several changes. Many government initiatives are also being proposed to encourage horticultural experts and players to adopt more eco-friendly and sustainable practices. Landfills have a notable environmental impact, creating an incentive to imbue bioplastics into horticultural techniques. Many greenhouse owners and gardeners are also making considerable efforts to adopt more ecological processes by using biodegradable plastics. Moreover, paced urbanisation is also contributing to landfills, creating a need for better usage of water resources and urban lifestyle conditions. These factors are propelling the global horticulture bioplastic market to greater heights.
Paced Demand for Polyesters to Open New Avenues of Growth
As bioplastic materials continue to improve in terms of quality and durability, the demand for polyesters is expected to exhibit an explosive increase. The demand for polyesters is growing amidst growing carpets, rugs, and other industrial product sales. Moreover, a mattress made of polyester is being employed in both residential and commercial floor settings. Moreover, several end-use industries including healthcare, automobiles, home, and electronics & construction are also contributing to positive market trends. Such a prolific demand for polyesters is expected to bode well for the global horticulture bioplastic market in the forecast period. Of late, high-end polyesters with greater durability, drying speed, and ease of clearing are also gaining traction.
North America to Dominate Horticulture Bioplastic Market Amidst Growing Environmental Awareness
A high concentration of key market entities, a fast-maturing consumer base, and higher environmental consciousness is expected to sustain North America’s dominance in the horticulture bioplastic market. Moreover, the presence of supportive government initiatives and support for sustainable industries is furthering the regional market growth prospects. Bioplastics are quickly replacing single-use plastics through stringent rules and regulations is also creating positive trends for bioplastics. In addition, growing technical breakthroughs in horticulture bioplastic technology are expected to stimulate further growth in major economies in North America.
Major Market Players
Some of the most notable players in the global horticulture bioplastic market players include Novomant SPA, Metabolix, Inc., Green Dot Bioplastics, Corbion Purac, Braskem, Cardia Bioplastics, Biome Technologies Plc, BASF S.A., Natureworks LLC, FKuR Kunststoff GmbH, and Innovia Films.
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Biodegradable Plastics Market worth $20.9 billion by 2028
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, NA, South America, MEA) - Global Forecast to 2028", is projected to reach USD 20.9 billion by 2028, at a CAGR of 21.3% from USD 7.9 billion in 2023.
The Biodegradable plastic market is driven by the demand for green based plastics in various industries, including packaging, consumer goods, textiles, and agriculture & horticulture among other end-use industries. 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.
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“PLA based biodegradable plastic is projected to grow at fastest CAGR, in terms of value, during the forecast period.”
PLA is the most used type of biodegradable plastic. As the world becomes more aware of the environmental impact of traditional plastics derived from fossil fuels, there has been a growing demand for sustainable and eco-friendly alternatives. PLA offers a solution by reducing dependence on non-renewable resources and minimizing plastic waste. There is a growing demand for eco-friendly packaging, disposable cutlery, food containers, and other consumer goods made from biodegradable materials. PLA satisfies this demand by offering a renewable and biodegradable alternative to conventional plastics.
“Consumer goods is projected to be the second largest application type in the biodegradable plastic market, in terms of value.”
Consumer goods are the second-largest end-use industry of biodegradable plastics. The major consumer goods considered under this segment are electrical appliances, domestic appliances, and others. The major consumer goods manufacturers are shifting their focus from traditional plastics to biodegradable plastics to reduce the negative impact on the environment. Biodegradable plastics are used for manufacturing consumer goods such as touchscreen computer casings, loudspeakers, mobile casings, and vacuum cleaners.
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“Europe is expected to be the fastest growing market for biodegradable plastics during the forecast period, in terms of value.”
Europe is the largest consumer of biodegradable plastics. The packaging industry is the largest end-use industry of biodegradable plastics in Europe. The political and economic conditions have also driven the market penetration of these products. The EU Commission has focused on the Lead Markets Initiative, where bioplastics has been identified as one of the most important potential markets. The strict government norms and economic conditions have also driven the biodegradable plastics market. These factors have been responsible for developing biodegradable plastics, with collaborative research, in the region.
New product launches and expansions are the major growth strategies adopted by the key players in the market. The key global players in the biodegradable plastics market include 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).
#BiodegradablePlastics#SustainableMaterials#EcoFriendly#GreenTech#SustainablePackaging#PlasticAlternatives#EnvironmentalInnovation#GreenProducts#Bioplastics#SustainableFuture
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Compostable Plastics Market Overview, Demand and Trends Forecast Report 2031
The most recent research study by The Insight Partners, “Compostable Plastics Market - Trends, Size, Share, and Growth to 2031,” offers a detailed market analysis covering market dynamics, growth opportunities, trends, and segmentation. Compostable Plastics Market predictions are presented in this report based on revenue size, CAGR, consumption, technologies, trends, and other critical information.
The report highlights market drivers, and restraints in this market while providing an analysis of recent developments and next trends. Comprehensive Compostable Plastics market report presents a dashboard of historical and present market performance. Analysis of key companies contributing to the growth of Compostable Plastics market share in the projected period.
The study also focuses on the current market scenario and the range of factors that can impact different region’s Compostable Plastics markets in the future. The detailed perspective on the competitive landscape and in-depth supply chain analysis under this report assist businesses in identifying shifting industry practices. This report evaluates the current state of the market and anticipated future growth. Furthermore, technological advancements and investment opportunities, financial data, and market economics are perks of this report.
This report further offers insights on drivers, restraints, current trends, and financial prospects to forecast the year. Precision and validity are key qualities of this research, making The Insight Partners a trusted market research company.
Knowing the state of rivals is a strategically right move to outperform them. This report is the right place to explore key strategies, developments, and recent launches by Compostable Plastics key market players. This report emphasizes an analysis of business strategies and expected growth opportunities for brands.
Why Buying this Report Could be Your next Strategic Move?
Learn detailed market information, competition, and SWOT analysis.
To ascertain Compostable Plastics market growth carefully by evaluating value, volume, and CAGR data at the national level.
To gain knowledge on market dynamics, unrealized growth opportunities, challenges, and main drivers of the market.
Review recent developments and strategic insights taking into consideration new launches, agreements, and mergers.
Know lucrative spaces to invest in the Compostable Plastics market globally and regionally.
The report attempts to offer answers on:
What’s the projected growth rate CAGR by the 2031?
How big is the Compostable Plastics market anticipated to be throughout the estimated period?
Who are the major market participants in the market?
What are the main restraints ahead of Compostable Plastics market players?
Which are the key segments in the market?
Report Attributes
Details
Segmental Coverage
Type
PLA
Starch Blends
Biodegradable Polyesters
PHA
Others
Application
Packaging And Bags
Consumer Goods
Agriculture And Horticulture
Textile
Others
Regional and Country Coverage
North America (US, Canada, Mexico)
Europe (UK, Germany, France, Russia, Italy, Rest of Europe)
Asia Pacific (China, India, Japan, Australia, Rest of APAC)
South / South & Central America (Brazil, Argentina, Rest of South/South & Central America)
Middle East & Africa (South Africa, Saudi Arabia, UAE, Rest of MEA)
Market Leaders and Key Company Profiles
BASF SE
Biome Bioplastics
Braskem
Mitsubishi Chemical Holding Corporation
NatureWorks LLC
Novamont S.p.A
Plantic Technologies Limited
Toray Industries, Inc.
Total Corbion PLA
Cardia Bioplastics
Other key companies
Need a Customized Market Research Report?
You can always share any specific requirements that you have, and our team will adjust the scope of research offerings as per your needs.
The following are some customizations our clients frequently ask for:
The Compostable Plastics market report can be customized based on specific regions/countries as per the intention of the business
The report production was facilitated as per the need and following the expected time frame
Insights and chapters tailored as per your requirements.
Depending on the preferences we may also accommodate changes in the current scope.
Key Questions Addressed in the Compostable Plastics Market Research Include:
What are present Compostable Plastics market values, and what can be expected in the upcoming decade?
What are the key segments in the Compostable Plastics market?
What is the regional distribution of the Compostable Plastics market report?
What are the key players and their recent strategies?
What are the key factors driving Compostable Plastics market growth?
What are regulatory concerns and requirements businesses have to compel?
About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, Chemicals and Materials.
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Biodegradable Plastic - Wishtree Insight
There was a time when petroleum-derived plastics were the only option to make products that we use in our day-to-day lives. The time has changed and we moved into an era of plastic with biodegradable qualities.
What is Biodegradable Plastic?
Biodegradable plastic is a variation of plastic that can be naturally decomposed by microbes, carbon dioxide, and biomass under particular conditions. It refers to an eco-friendly product. It includes renewable raw materials and petroleum-based sources which degrade naturally in base compounds. It consumes less energy during the manufacturing process and results in the reduction of emissions of greenhouse gases (GHGs), carbon footprint, and waste production. After exposure to the microorganism present in the environment, such plastic products disintegrate shortly.
The biodegradation of plastic is done in a controlled degradation in an inherent environment or by enzyme-assisted mechanisms, as the disposable condition is different worldwide.
Why Biodegradable Plastic?
High applicability. Reduces waste production.
Easy processing capabilities with conventional machining.
Different fillers (like clay, lime, wood paper, etc), can be added depending on the application.
Co-injection with materials (LDPE, HDPE, and PP) can be done.
Less energy consumption while manufacturing.
The plastic decomposes quickly and can be discarded using an organic process. It is easy to recycle.
Biodegradable plastic is the key to pollution-free nature as it reduces CO2 levels.
Composting bioplastic products makes the soil fertile. Though it is made using chemicals those are natural sources.
Biodegradable plastics and industrial sectors
The global biodegradable plastic market exhibited moderate growth from the year 2015-2020.
Packaging Sector- Packaging is the largest end-use industry worldwide. And thus, to make the environment eco-friendly these industries are switching to biodegradable plastic which accounted for the share of 53.5%, 2020, of the global biodegradable plastics market. Also, the Changes in the lifestyle of consumers and rising environmental concerns have boosted the demand for biodegradable plastics in the packaging industry.
Agriculture and Horticulture Sector - Due to its biodegradable nature, it is used for manufacturing mulching films and plant pots. This has increased the utilization of agricultural products in the burgeoning food and beverage (F&B) sector. And has become one of the key factors to uplift the market growth.
Global Biodegradable Plastic Market Trends:
The increasing awareness of non-biodegradable plastic products has driven awareness in the global market. Along with this, many countries worldwide are taking initiatives to impose bans on the usage of non-biodegradable plastic products. Thus, biodegradable plastic is getting a positive outlook for the global market. Concerning the environment, people are also demanding and started using eco-friendly alternatives. The various sectors in the market like food and beverages, personal care and cosmetics, and fashion are further driven by the widespread adoption of biodegradable plastic packaging solutions.
Other factors contributing to the market growth include continual technological advancements and rising investments by public and private firms that have introduced improved product variants in the market.
According to the factors, during 2021 – 2026, the market is anticipated to grow at a CAGR of 8%. In 2021, the global biodegradable plastic market size was estimated at USD 4.1 billion, which is expected to expand at a CAGR of 9.7%.
Governments worldwide prohibiting the use of single-use plastic have raised awareness among people and have stimulated market growth. The increasing use of biodegradable plastics in packaging and agriculture has played a vital role in the growth of the segment. Non-decomposable plastics have become a global issue due to their hazardous effects. Globally all governments are tackling this problem by banning single-use plastics and promoting the use of biodegradable plastics. Consumers are willing to pay more for biodegradable plastic to save nature and make an eco-friendly environment.
Market Summary:
The U.S. plastic biodegradable market has been classified into starch-based, PLA, PBS, PBAT, PHA, and others, based on plastic type. Here the market is segregated into packaging, agriculture, consumer goods, and others, based on the end user.
Based on the Biodegradable Plastic market is divided into North America (including the United States and Canada), Asia-Pacific (includes China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (includes Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (includes Brazil, Mexico, and others), and the Middle East and Africa.
Conclusion:
Though Biodegradable plastic has environmental advantages, it also has drawbacks as the segregation of conventional plastics and biodegradable plastic becomes a tough job.
Not all biodegradable plastics easily decompose in the natural environment, they require a specific environment in terms of moisture and temperature. During the decomposition process, some biodegradable plastics release greenhouse gases. These factors may act as stumbling stones in the upward climb of the market.
Research institutes and governments worldwide have taken necessary steps to make use of biodegradable plastic.
The applications of biodegradable plastics are increasing every day. They are reaching factories globally willing to make the environment eco-friendly and sustainable for everyone.
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Polylactic Acid Market Size, Share, Growth, Major Players, Industry Analysis by Forecast to 2035
According to ChemAnalyst report, “Polylactic Acid (PLA) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2035”, The Polylactic Acid (PLA) market is expected to witness considerable growth by reaching 1560 thousand tonnes in 2035, at a healthy CAGR of 14.50% in the span of the next ten years. The surging demand for Polylactic Acid (PLA) from packaging, biomedical sector and agriculture/ horticulture and other end-use industries, is likely to boost the Polylactic Acid (PLA) market in the upcoming years. Polylactic Acid (PLA) stands as a promising, sustainable, and eco-friendly biopolymer to conventional plastic, which will further drive its market over the next few years.
Polylactic acid, also known as polylactide, is a biodegradable and bioactive polyester composed of lactic acid building blocks. Polylactic acid (PLA) is one of the most promising biodegradable polymers (biopolymer) now, and it has been the topic of a lot of research in the previous decade. It is a thermoplastic aliphatic polymer with good mechanical properties and a semi-crystalline, biodegradable hydrophobic nature. The most crucial aspect is Polylactic acid is compostable, which means it may break down into biodegradable components under certain conditions, making it a popular material for packaging in industries including food and beverage and consumer goods.
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The majority of economically viable bioplastics are made of polylactic acid. Due to rising demand and pricing for petroleum and petroleum-based products such as synthetic plastics, the industry prefers Polylactic acid to conventional plastic. Rather of petroleum, bioplastics are made from organic biomass sources such as corn, sugarcane, and other plants. Subsidies and other incentives are being offered by the government to encourage individuals to use biodegradable products. Bioplastics are replacing petroleum-based plastics among stakeholders for a variety of reasons, including pollution control and environmental safety. New manufacturing facilities are being created in the packaging, textiles, and electronics industries as a result of technology advancements, technological transfer from wealthy countries, and increased consumer demand.
The government is taking steps to increase the use of biodegradable products by offering subsidies and support. Pollution control and environmental safety are two of the main reasons why more and more stakeholders are turning to bioplastics instead of petroleum-based plastics.
New manufacturing facilities in the packaging, textiles, and electronics industries are being created because of technology advancements, technological transfer from rich countries, and increasing consumer demand in developing countries. Polylactic acid demand from these industries is a key market growth driver in developing countries.
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Packaging industry, Biomedical field, Textile/ sanitary product/ fibre & fabrics, Agriculture/horticulture, Construction materials, and Fishing materials are the end use industries in which the polylactic acid (PLA) market is categorised. Polylactic acid has the biggest market share in the packaging business, followed by the biomedical field and agriculture/horticulture. The packaging sector and the biomedical field accounts for more than 60% of the total PLA market in 2021. During the forecasted period, polylactic acid demand will be driven exclusively by the packaging and biomedical industries.
North America (US, Canada), Latin America (Mexico, Brazil), Western Europe (Germany, Italy, France, UK, Spain, Nordic countries, Belgium, Netherlands, Luxembourg), Eastern Europe (Poland, Russia), Asia Pacific (China, India, ASEAN, Australia & New Zealand), Japan, Middle East, and Africa) are among the regional study of market. Polylactic acid is not produced in many places due to a lack of natural resources. Corn's use in the production of Polylactic acid would have an impact on its contribution to the food sector, producing food security issues in developing countries. Bioplastics have a minimum production cost that is at least two to three times that of synthetic plastics. For cheaper Polylactic acid synthesis, further technical and resource management research is needed. PLA is biodegradable; however, it requires a certain composting technique to degrade completely
Polylactic Acid (PLA) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2035”, some of the major players operating in Polylactic Acid (PLA) market include are BASF SE, Indian Farmer Fertilizer Cooperative Limited, Hindustan Insecticide Limited, Fertilizers and Chemical Travancore, Rastriya Chemical & Fertilizers, National Fertilizers Limited, Organization of Brazilian Cooperatives, Cooperative federation of Argentina and Others.
“The rapidly increasing demand for renewable plastic from the packaging, agriculture, and biomedical industry is expected to boost the Polylactic Acid (PLA) market in the forecast period until 2035. increased consumer awareness of environmentally friendly plastic products, increased government focus on biodegradable plastic, and increased government rules and regulations prohibiting the use of plastic bags and other plastic items, is likely to augment its market in the next few years. However, with the gradual reopening of the market, the demand for Polylactic Acid (PLA) is anticipated to surge in the near term. “said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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Bio Based Biodegradable Plastics Market Trends, Cost Structure Analysis, Growth Opportunities And Forecast To 2030
Bio-based biodegradable plastics are a type of plastic that is made from renewable resources such as plants or animal by-products, and which can break down into natural substances like water, carbon dioxide, and biomass under certain environmental conditions. These plastics are considered an eco-friendly alternative to traditional petroleum-based plastics, which are derived from non-renewable fossil fuels and can take hundreds of years to decompose in the environment.
Bio-based biodegradable plastics can be produced from a variety of natural materials, including corn starch, sugarcane, cellulose, and vegetable oil. These materials are broken down into their basic building blocks through a process called hydrolysis or fermentation, and then polymerized to create a plastic material that has similar properties to traditional plastics. However, unlike traditional plastics, bio-based biodegradable plastics can be broken down by microorganisms in the environment, leading to less plastic waste and a reduced impact on the environment.
Players active in the market are Natureworks, BASF SE, Mitsubishi Chemical Corporation, Biome Bioplastics., Toray Industries, Total Corbion PLA, Plantic Technologies, Danimer Scientific, Bio-On, and Novamont S.P.A.
While bio-based biodegradable plastics offer several environmental benefits, they also have some limitations. For example, they may not decompose as quickly or effectively in all environments, and they may not be suitable for all types of applications. Additionally, some bio-based biodegradable plastics may still require specific conditions, such as high temperatures or humidity, in order to biodegrade.
The packaging industry has been one of the biggest drivers of growth in the bio-based biodegradable plastics market, as companies seek out more sustainable alternatives to traditional petroleum-based plastics. In addition, the agriculture and horticulture sectors have also been significant users of bio-based biodegradable plastics, particularly for applications such as mulch films and plant pots.
The demand for bio-based biodegradable plastics has been increasing in recent years, driven by several factors including consumer demand for sustainable and environmentally-friendly products, government regulations aimed at reducing plastic waste, and growing awareness of the negative impacts of traditional petroleum-based plastics on the environment.
One major driver of demand for bio-based biodegradable plastics is the packaging industry, which has been increasingly adopting these materials as an alternative to traditional plastic packaging. Consumers are becoming more conscious of the environmental impact of packaging waste, and companies are seeking out more sustainable solutions to meet this demand.
In addition, there is also growing demand for bio-based biodegradable plastics in the agriculture and horticulture industries. These materials are being used in applications such as mulch films and plant pots, where they can provide a more sustainable alternative to traditional petroleum-based plastics.
Government regulations and initiatives are also driving demand for bio-based biodegradable plastics. Many countries are implementing policies and regulations aimed at reducing plastic waste and promoting the use of renewable and sustainable materials, which is creating a favorable market environment for bio-based biodegradable plastics.
However, there are still challenges to be addressed in terms of scalability, cost, and performance of bio-based biodegradable plastics. These materials may not be suitable for all applications, and there is still a need for continued innovation and development to overcome these challenges.
The market for bio-based biodegradable plastics offers several benefits for both the environment and the economy. Some of the key benefits include:
1. Environmental Sustainability: Bio-based biodegradable plastics are made from renewable resources such as plant starch and cellulose, which reduces the dependence on non-renewable fossil fuels. These materials also break down naturally in the environment, leading to reduced plastic waste and a lower impact on the environment.
2. Reduced Carbon Footprint: The production of bio-based biodegradable plastics results in lower greenhouse gas emissions compared to traditional petroleum-based plastics, which can help reduce the overall carbon footprint of the manufacturing process.
3. Increased Market Opportunities: As more consumers and businesses seek out sustainable and environmentally-friendly products, the market for bio-based biodegradable plastics is expected to grow. This can create new market opportunities and stimulate economic growth in the renewable materials sector.
4. Reduced Plastic Waste: The use of bio-based biodegradable plastics can help reduce the amount of plastic waste in landfills and in the environment. This can help address the growing issue of plastic pollution, which is a major environmental challenge.
5. Improved Brand Image: Companies that use bio-based biodegradable plastics in their products can improve their brand image and appeal to consumers who are increasingly concerned about sustainability and environmental responsibility.
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Bio-plastics Market- New Technological Development Projecting Massive Growth till 2032
Future Market Insights (FMI), in its brand new document titled, “Bio-plastics marketplace: worldwide industry evaluation and opportunity evaluation”, estimates that the global bio-plastics market is predicted to account for US$ 43.8 Bn by using 2020, registering a CAGR of 28.8% at some point of the forecast duration.
A growing beverage packaging enterprise, government support for adopting bio-primarily based substances, and growing customer attractiveness for bio-plastics are expected to make contributions to the growth of the worldwide bio-plastic market over the forecast length.
Key players in the global bio-plastics market are
– BASF SE – Arkema, DSM NV – I. Du Pont de Nemours and organization – Evonik Industries – NaturePlast – NatureWorks LLC – RTP agency – Techno polymer Co. Ltd. – Toray Industries Inc.
Assessing the various factors driving this marketplace, a FMI lead analyst, stated, “growing patron awareness regarding benefits of greener merchandise, strict policies to comprise bio-primarily based merchandise in car & packaging, and growing investments by using neighborhood companies are predicted to fuel the call for for global bio-plastics market.”
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Key Segments Covered
Material Type:
Bio-PET
Bio-PE
Bio-PA
Bio-degradable Polyesters
PLA & PLA Blends
Starch Blends
PHA
others (Durable Starch Blend, Bio-TPE, Bio-PUR, Bio-PC, Cellulose Derivatives and PCL)
Applications
Bottle
other packaging
food-services
agriculture/horticulture
consumer products
automotive
Key Geographies Covered
North America
Europe
Asia Pacific
RoW
International Bioplastics marketplace: Drivers and traits
Demand for bioplastics is growing in view that beyond decade due to growing attention concerning environmental conservation, use of bio-based or natural sources for manufacturing substances and components of various regulations across nations for effective use of natural sources and waste management.
In phrases of substances, the global bio-plastics marketplace is segmented as bio-puppy, bio-PE, bio-PA, bio-degradable polyesters, PLA & PLA blends, starch blends, PHA and others. Currently, the bio-pet cloth section dominates the bio-plastics market, and was estimated to be US$ five.6 Bn in 2014.
This section is anticipated to reach US$ 29.1 Bn through 2020, with a momentous CAGR of 31.4% for the forecast period. Moreover, an growing demand for bio-plastics from the beverage packaging industry and effectiveness of bio-plastics in one-time use application has driven the demand for the bio-puppy inside the previous couple of years.
Key regions taken into consideration for this marketplace look at consist of North the us, Europe, Asia Pacific and RoW (rest of the world). Asia Pacific represents the maximum lucrative marketplace, observed through North the usa.
Asia Pacific is anticipated to make contributions 33.7% marketplace percentage to the general bio-plastics market with the aid of 2020. The growth of Europe is supported with the aid of the strong influence of regulatory framework and attention concerning greener products thru numerous media the various clients.
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Bio-plastics Market Outlook, Current and Future Industry Landscape Analysis
A growing beverage packaging industry, government support for adopting bio-based materials, and rising consumer acceptance for bio-plastics are expected to contribute to the growth of the global bio-plastic market over the forecast period. Future Market Insights (FMI), in its latest report titled, “Bio-plastics Market: Global Industry Analysis and Opportunity Assessment”, estimates that the global bio-plastics market is expected to account for US$ 43.8 Bn by 2020, registering a CAGR of 28.8% during the forecast period.
Key players in the global bio-plastics market are
BASF SE
Arkema, DSM NV
I. du Pont de Nemours and Company
Evonik Industries
NaturePlast
NatureWorks LLC
RTP Company
Techno polymer Co. Ltd.
Toray Industries Inc.
Assessing the various factors driving this market, a FMI lead analyst, said, “Increasing consumer awareness regarding benefits of greener products, strict regulations to incorporate bio-based products in automotive & packaging, and increasing investments by local companies are expected to fuel the demand for global bio-plastics market.”
Global Bioplastics Market: Drivers and Trends
Demand for bioplastics is increasing since past decade due to growing awareness concerning environmental conservation, use of bio-based or natural resources for manufacturing materials and formulation of various regulations across countries for effective use of natural resources and waste management.
In terms of materials, the global bio-plastics market is segmented as bio-PET, bio-PE, bio-PA, bio-degradable polyesters, PLA & PLA blends, starch blends, PHA and others. Currently, the bio-PET material segment dominates the bio-plastics market, and was estimated to be US$ 5.6 Bn in 2014. This segment is expected to reach US$ 29.1 Bn by 2020, with a momentous CAGR of 31.4% for the forecast period. Moreover, an increasing demand for bio-plastics from the beverage packaging industry and effectiveness of bio-plastics in one-time use application has driven the demand for the bio-PET in the last few years.
On the basis of application type, the bio-plastics market is segmented as bottlers, other packaging, food-services, agriculture/horticulture, consumer products, automotive and others. Among all the afore mentioned applications, bottles segment is expected to dominate the market with 34.4% of the total revenue share by 2020. However, automotive segment is anticipated to exhibit the second highest CAGR of 27.5% as compared to other applications during the forecast period. Additionally, influx of new entrants is predicted to fuel the growth of others application segment, thereby accounting for 5.0% market share by 2020.
Key regions considered for this market study include North America, Europe, Asia Pacific and RoW (Rest of the World). Asia Pacific represents the most lucrative market, followed by North America. Asia Pacific is expected to contribute 33.7% market share to the overall bio-plastics market by 2020. The growth of Europe is supported by the strong influence of regulatory framework and awareness regarding greener products through various media among the consumers.
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Bioplastics Market To Gain Traction With Increase In Environmental Awareness
Global Bioplastics Market - Overview
The ability to synthesize effective materials from renewable sources such as corn, sugar beet, and sugarcane is estimated to promote the bioplastic market. The polymers & plastics reports are made by Market Research Future, which includes market options for development. The market is likely to exhibit a CAGR of 10% that will motivate its returns to USD 6.8 billion by 2030.
The global bioplastics market is studied in detail in the report, which uses a platform of historical facts about the bioplastics market to present reliable projections about the market’s likely growth trajectory over the forecast period. A detailed assessment of the major drivers affecting the growth of the bioplastics market is presented in the report, along with a macroeconomic and microeconomic environment analysis. Key economic factors having a major impact on the bioplastics market are studied in detail in the report to give a comprehensive overview of the market. The usage of bioplastics in disposables, shopping bags, food packaging is estimated to create a positive impetus in the bioplastic market share. Moreover, as it is widely recognized as an excellent substitute for fossil fuel-based materials, its demand is set to rise in the coming period.
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Global Bioplastics Market – Prominent Players Teijin Limited - Japan,Toray Industries - Japan,Toyota Tsusho - Japan,M&G Chemicals - USA,PTT Global Chemical Public Company Limited - Thailand,Showa Denko KK - Japan,Natureworks LLC – USA. Bioplastics Market Highlights - The global bioplastics market is mainly driven by the growing awareness about the environmental damage caused by the discarding of conventional, nonbiodegradable plastics. Being nonbiodegradable, plastics can remain in their discarded environment for years, even decades, causing problems for the ecosphere and interfering with the natural movement of soil, water, and other natural elements. Plastic pollution is considered among the most important environmental issues at present, due to their widespread use and high level of impact on an environment. This has led to a growing demand for bioplastics in a number of industries. Bioplastics degrade naturally into carbon-related material, allowing for their reintegration into the environment naturally. This is the major driver for the bioplastics market, as the demand for biodegradable plastics is likely to continue to grow over the forecast period.
The growing demand for bioplastics in the packaging and automotive industries is likely to be a key driver for the bioplastics market, due to the high volume of plastics consumed in these industries. The growing scope for the bioplastics market in these two industries, among others, is a major driver for the global bioplastics market. Due to governmental as well as public pressure, other industries such as agriculture, electronics, construction, and others are also expected to increase their consumption of bioplastics in place of conventional plastics. This is likely to remain a major driver for the global bioplastics market over the forecast period. Access Complete Report @ https://www.marketresearchfuture.com/reports/bioplastic-market-1964 Bioplastics Market - Segments:
The global bioplastics market is segmented on the basis of type, application, and region.
By type, the global bioplastics market is segmented into biodegradable and nonbiodegradable bioplastics.
By application, the global bioplastics market is segmented into rigid packaging, flexible packaging, textiles, agriculture and horticulture, consumer goods, automotive, electronics, construction, and others. Buy Now @ https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=1964
Global Bioplastics Market -Regional Analysis
Asia Pacific holds the largest share in the global bioplastics market, accounting for more than 34% of the market in 2018.
Europe also holds a dominant share in the global bioplastics market and is likely to remain a leading revenue generator in the coming years due to the increasing government support to the development of bioplastics in the region. The European market accounted for more than 33% of the global bioplastics market in 2018 and is likely to remain similarly dominant over the forecast period. The strong government support to bioplastics as well as government regulations making the use of conventional plastics more expensive are likely to be the major drivers for the bioplastics market in Europe over the forecast period. The Europe market for bioplastics is expected to exhibit a strong 10.85% CAGR over the forecast period. The strong research environment in Europe is likely to make the region an important regional market for bioplastics in the coming years. Industry/ Innovation/ Related News:
Aug 2020 Biome Technologies announced recently that it had obtained an order worth USD 550,000 from a current major buyer functioning in the United States packaging market. The technology company said the order is the single major order to date for its heat-stable and compostable bioplastic for coffee pod uses, which was initially commercialized in 2019. Read more reports at: https://www.marketresearchfuture.com/categories/chemicals-market-report Read more details at: https://www.marketresearchfuture.com/infographics Read more details at: https://www.marketresearchfuture.com/videos About Market Research Future:- At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions. Contact Us: Wantstats Research and Media Private Limited 99 Hudson Street,5Th Floor New York, New York 10013 United States of America Maharashtra, India
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Bio-plastics Market Trends | Segmentation, Outlook, Industry Report
Future Market Insights (FMI), in its latest report titled, “Bio-plastics Market: Global Industry Analysis and Opportunity Assessment 2014 to 2020”, estimates that the global bio-plastics market is expected to account for US$ 43.8 Bn by 2020, registering a CAGR of 28.8% during the forecast period. A growing beverage packaging industry, government support for adopting bio-based materials, and rising consumer acceptance for bio-plastics are expected to contribute to the growth of the global bio-plastic market over the forecast period.
Global Bioplastics Market: Drivers and Trends
Demand for bioplastics is increasing since past decade due to growing awareness concerning environmental conservation, use of bio-based or natural resources for manufacturing materials and formulation of various regulations across countries for effective use of natural resources and waste management.
In terms of materials, the global bio-plastics market is segmented as bio-PET, bio-PE, bio-PA, bio-degradable polyesters, PLA & PLA blends, starch blends, PHA and others. Currently, the bio-PET material segment dominates the bio-plastics market, and was estimated to be US$ 5.6 Bn in 2014. This segment is expected to reach US$ 29.1 Bn by 2020, with a momentous CAGR of 31.4% for the forecast period. Moreover, an increasing demand for bio-plastics from the beverage packaging industry and effectiveness of bio-plastics in one-time use application has driven the demand for the bio-PET in the last few years.
On the basis of application type, the bio-plastics market is segmented as bottlers, other packaging, food-services, agriculture/horticulture, consumer products, automotive and others. Among all the afore mentioned applications, bottles segment is expected to dominate the market with 34.4% of the total revenue share by 2020. However, automotive segment is anticipated to exhibit the second highest CAGR of 27.5% as compared to other applications during the forecast period. Additionally, influx of new entrants is predicted to fuel the growth of others application segment, thereby accounting for 5.0% market share by 2020.
Key Segments Covered
Material Type:
Bio-PET
Bio-PE
Bio-PA
Bio-degradable Polyesters
PLA & PLA Blends
Starch Blends
PHA
others (Durable Starch Blend, Bio-TPE, Bio-PUR, Bio-PC, Cellulose Derivatives and PCL)
Applications
Bottle
other packaging
food-services
agriculture/horticulture
consumer products
automotive
Key Geographies Covered
North America
Europe
Asia Pacific
RoW
Key regions considered for this market study include North America, Europe, Asia Pacific and RoW (Rest of the World). Asia Pacific represents the most lucrative market, followed by North America. Asia Pacific is expected to contribute 33.7% market share to the overall bio-plastics market by 2020. The growth of Europe is supported by the strong influence of regulatory framework and awareness regarding greener products through various media among the consumers.
Assessing the various factors driving this market, a FMI lead analyst, said, “Increasing consumer awareness regarding benefits of greener products, strict regulations to incorporate bio-based products in automotive & packaging, and increasing investments by local companies are expected to fuel the demand for global bio-plastics market.”
Key players in the global bio-plastics market are
BASF SE
Arkema, DSM NV
I. du Pont de Nemours and Company
Evonik Industries
NaturePlast
NatureWorks LLC
RTP Company
Techno polymer Co. Ltd.
Toray Industries Inc.
For More Info - https://www.futuremarketinsights.com/reports/global-bio-plastics-market
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Polylactic Acid Market is Anticipated to Grow at a CAGR of 14.50% by 2035 | ChemAnalyst
According to ChemAnalyst report, “Polylactic Acid (PLA) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2035”, The Polylactic Acid (PLA) market is expected to witness considerable growth by reaching 2070 thousand tonnes in 2035, at a healthy CAGR of 14.50% in the span of the next ten years. The surging demand for Polylactic Acid (PLA) from packaging, biomedical sector and agriculture/ horticulture and other end-use industries, is likely to boost the Polylactic Acid (PLA)market in the upcoming years. Polylactic Acid (PLA) stands as a promising, sustainable, and eco-friendly biopolymer to conventional plastic, which will further drive its market over the next few years.
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Polylactic acid, also known as polylactide, is a biodegradable and bioactive polyester composed of lactic acid building blocks. Polylactic acid (PLA) is one of the most promising biodegradable polymers (biopolymer) now, and it has been the topic of a lot of research in the previous decade. It is a thermoplastic aliphatic polymer with good mechanical properties and a semi-crystalline, biodegradable hydrophobic nature. The most crucial aspect is Polylactic acid is compostable, which means it may break down into biodegradable components under certain conditions, making it a popular material for packaging in industries including food and beverage and consumer goods.
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The majority of economically viable bioplastics are made of polylactic acid. Due to rising demand and pricing for petroleum and petroleum-based products such as synthetic plastics, the industry prefers Polylactic acid to conventional plastic. Rather of petroleum, bioplastics are made from organic biomass sources such as corn, sugarcane, and other plants. Subsidies and other incentives are being offered by the government to encourage individuals to use biodegradable products. Bioplastics are replacing petroleum-based plastics among stakeholders for a variety of reasons, including pollution control and environmental safety. New manufacturing facilities are being created in the packaging, textiles, and electronics industries as a result of technology advancements, technological transfer from wealthy countries, and increased consumer demand.
The government is taking steps to increase the use of biodegradable products by offering subsidies and support. Pollution control and environmental safety are two of the main reasons why more and more stakeholders are turning to bioplastics instead of petroleum-based plastics.
New manufacturing facilities in the packaging, textiles, and electronics industries are being created because of technology advancements, technological transfer from rich countries, and increasing consumer demand in developing countries. Polylactic acid demand from these industries is a key market growth driver in developing countries.
Packaging industry, Biomedical field, Textile/ sanitary product/ fibre & fabrics, Agriculture/horticulture, Construction materials, and Fishing materials are the end use industries in which the polylactic acid (PLA) market is categorised. Polylactic acid has the biggest market share in the packaging business, followed by the biomedical field and agriculture/horticulture. The packaging sector and the biomedical field accounts for more than 60% of the total PLA market in 2021. During the forecasted period, polylactic acid demand will be driven exclusively by the packaging and biomedical industries.
North America (US, Canada), Latin America (Mexico, Brazil), Western Europe (Germany, Italy, France, UK, Spain, Nordic countries, Belgium, Netherlands, Luxembourg), Eastern Europe (Poland, Russia), Asia Pacific (China, India, ASEAN, Australia & New Zealand), Japan, Middle East, and Africa) are among the regional study of market. Polylactic acid is not produced in many places due to a lack of natural resources. Corn's use in the production of Polylactic acid would have an impact on its contribution to the food sector, producing food security issues in developing countries. Bioplastics have a minimum production cost that is at least two to three times that of synthetic plastics. For cheaper Polylactic acid synthesis, further technical and resource management research is needed. PLA is biodegradable; however, it requires a certain composting technique to degrade completely
Polylactic Acid (PLA)Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2035”, some of the major players operating in Polylactic Acid (PLA)market include are BASF SE, Indian Farmer Fertilizer Cooperative Limited, Hindustan Insecticide Limited, Fertilizers and Chemical Travancore, Rastriya Chemical & Fertilizers, National Fertilizers Limited, Organization of Brazilian Cooperatives, Cooperative federation of Argentina and Others.
“The rapidly increasing demand for renewable plastic from the packaging, agriculture, and biomedical industry is expected to boost the Polylactic Acid (PLA) market in the forecast period until 2035. increased consumer awareness of environmentally friendly plastic products, increased government focus on biodegradable plastic, and increased government rules and regulations prohibiting the use of plastic bags and other plastic items, is likely to augment its market in the next few years. However, with the gradual reopening of the market, the demand for Polylactic Acid (PLA) is anticipated to surge in the near term. “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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Biodegradable Polymers Market Growth Factors, Size Review, Investment Scenario, Development Strategy,Share, Industry Growth, Business Strategy, Trends and Regional Outlook 2027
Biodegradable Polymers Market Overview:
The biodegradable polymer market is driven by the stringent government regulations against plastic bags and other plastic items, and the growth in the agriculture & horticulture, packaging & bags, and textile industries. The shift in consumer preference toward fresh and ready-to-eat meals associated with suitable packaging technique, and the rising adoption of biodegradable polymers in the agriculture industry for plant pots, containers, films, and storage bags for chemicals and fertilizers are likely to impel the market growth in the coming years.
Biodegradable Polymers Market Report 2020-2027 (Forecast Period) includes an analysis of market growth factors, future analysis, country-level, and regional-level analysis, market distribution, and competitive landscape analysis of major key competitors. Within the analysis report, each phase of the world global market is completely studied. The regional study of the global market will help you in gaining an understanding of the developments of the various geographic markets in recent years and moving ahead. The analysis also includes a wide-ranging synopsis of the key factors of the global market, like market influence and market result factors, drivers, threats, constraints, trends, restraints, and prospects. alternative methods of analysis, like qualitative and quantitative, are also used within the analysis study. Maximize Market Research team analysis provides a unique and in-depth report that helps you to perform detailed research on the global Biodegradable Polymers market and make decisions on the future growth factors of the market. The market report provides an overview of the development of the Biodegradable Polymers market throughout the forecasted period. Request for free sample: https://www.maximizemarketresearch.com/request-sample/70575 The Biodegradable Polymers market report thoroughly covers insights of key competitors in terms of market, applications, and geographies that will help you in recognizing the competition both domestically as well as globally. The research mentions available micro-market investment options for investors and a full synopsis of the competitive landscape and significant products offered by industries. The report also includes statistical data that consists of tables and charts which will further help you in business representation. Maximize Market Research also studies the current as well as new trends with the estimates of the market size throughout the forecasted period. Many competitors are also identified in various regions. The report provides PESTEL and Portal analysis too, which helps the clients to calculate every factor of the market. Biodegradable Polymers Market Segmentation:
This is attributed to the growing demand for the product in several packaging applications and stringent environmental regulations against the use of non-biodegradable polymers in Europe. High awareness among consumers toward plastic waste along with the European government imposing strict guidelines to ban the usage of petroleum-based plastics single-use plastics is projected to fuel the market growth in the coming years. Increased investment in R& D activities for the introduction of advance bio-degradable polymer is predicted to accelerate the market growth in the near future. Biodegradable Polymers Market Key Players:
• Mitsubishi Chemical Corporation • Biopac India Corporation Ltd • WestRock Company • Georgia-Pacific • Metabolix, Inc • Cereplast Inc • NatureWorks LLC • Biome Bioplastics • Smurfit Kappa Group • Mondi Group • BASF SE • Plantic technologies • Cardia Bioplastics • Eastman Chemical Company • DuPont • Merck KGaA • Novamont SpA • Rodenburg Biopolymers Get Report Details: https://www.maximizemarketresearch.com/market-report/global-biodegradable-polymers-market/70575/ Biodegradable Polymers Market Regional Analysis: Based on the regions the market is studied across Asia-Pacific (Vietnam, Malaysia, Korea, China, Philippines, Thailand, Indonesia, and India, Japan, Australia, ). Africa and the Middle East (Egypt and GCC Countries.). North America (Canada, the United States, and Mexico.). South America (Brazil etc). Europe (France, Italy, Germany, Russia, UK, Turkey, etc.). IMPACT Of COVID-19 On The Biodegradable Polymers Market: COVID-19 has impacted the world with its fast-spreading effects all over the world. It has impacted every industry and business except for the medical and health care industry which is working 24/7 to stop the spread of the COVID-19 virus, they are working hard to save the lives of people affected by this virus. As mentioned many industries are suffering in this COVID-19 times, our market is also one of them. Our team here at Maximize Market Research has worked hard to provide solutions to these issues that will help your business. About Us: Maximize Market Research provides B2B and B2C research on more than 12,000 high growth emerging opportunities technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics Communications, Internet of Things, Food and Beverages, Aerospace and Defense, and other manufacturing sectors. Contact Us: MAXIMIZE MARKET RESEARCH PVT. LTD. 3rd Floor, Navale IT Park Phase 2, Pune Bengaluru Highway, Narhe, Pune, Maharashtra 411041, India. Email: [email protected] Phone No.: +91 20 6630 3320 Website: www.maximizemarketresearch.com
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Greenhouse Film Market Investment Opportunities, Industry Share and Trend Analysis Report to 2027
The global greenhouse film market is likely to reach value of USD 13.15 Billion by 2027, according to a current analysis by Emergen Research. This growth of the market can be attributed to the growing focus of the horticulture industry on sustainable production and higher profit margins. Manufacturers of greenhouse films are trying to provide lightweight and durable polyethylene materials. Increasing research and development activities to produce materials that provide an outstanding balance of high tensile strength, light transmission, tear resistance, and light weight are expected to drive the market for greenhouse films in the near future.
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The research report offers insightful data about both organic and inorganic approaches undertaken by the players in the global Greenhouse Film market. The major companies are working towards fortifying their presence in the market through a series of strategic alliances, product innovations, product launches, and other fruitful business plans. The global Greenhouse Film market report provides extensive coverage of the business deals, collaborations, mergers and acquisitions, joint ventures, partnerships, and government deals. The prominent players of the global Greenhouse Film market are expected to contribute significantly to the revenue generation owing to increasing demand for the Greenhouse Film products in the industry.
Prominent Players Profiled in the Greenhouse Film Market:
Plastika Kritis S.A., Armando Álvarez Group, Ginegar Plastic Products Ltd., RKW Group, POLIFILM EXTRUSION GmbH, Berry Global, Inc., Agriplast Tech India Pvt Ltd, GROUPE BARBIER, A.A. Politiv Ltd., and Mitsubishi Chemical Corporation
Emergen Research has segmented the global greenhouse film market in terms of resin type, thickness, and region:
Resin Type Outlook (Revenue, USD Billion; 2017–2027)
Linear Low-density Polyethylene (LLDPE)
Low-density Polyethylene (LDPE)
Ethylene-vinyl Acetate (EVA)
Others
Thickness Outlook (Revenue, USD Billion; 2017–2027)
80 to 150 Microns
150 to 200 Microns
More than 200 Microns
Regional Analysis:
The report provides an investigation of the global market in various geographical regions. The regional analysis states the global market is bifurcated into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The report also covers import export consumption, supply and demand ratio, cost, pricing analysis, gross margin, and revenue estimation of each player in each region. The report covers a detailed examination of the market scenarios and trends on a regional and global level.
Key geographical regions analyzed in the report:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key points covered in the report:
The latest report based on the global Greenhouse Film market includes an elaborate list of the company profiles of the leading market players.
The report throws light on certain significant aspects, such as manufacturing/production capacity, sales, future expansion strategies, and technological capabilities of these market players.
The report emphasizes the primary application areas of the global market and therefore provides a precise account of the market to enable the interested readers to gain crucial insights into the global market mechanism.
The report involves a SWOT analysis of the global Greenhouse Film market. In the concluding part of the report, the opinions of several industry experts and professionals have been included.
The report elucidates vital information about investors, stakeholders, policymakers, manufacturers, suppliers, service providers, and the leading contenders in this market.
Key Highlights of TOC:
Chapter 1: Methodology & Scope
Definition &forecast parameters
Methodology & forecast parameters
Data Sources Chapter 2: Detailed Summary
Regional trends
Business trends
Product trends
End-use trends Chapter 3: Industry Insights
Industry segmentation
Vendor matrix
Technological & innovation landscape Chapter 4: Regional Outlook
Chapter 5: Company Profile
Financial Data
Business Overview
SWOT Analysis
Strategic Outlook
Product Landscape
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Compostable Plastic Market | Global Industry Size, Share, Analysis Report, 2035 | ChemAnalyst
According to ChemAnalyst report, “Compostable Plastic Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2035”, The compostable plastic market has witnessed significant growth as its demand reached 2.45 million tonnes in 2020 and is expected to achieve an impressive CAGR of 7.50% by 2035. Rapidly increasing demand for high-quality biodegradable plastic by various end-user industries, including consumer goods, agriculture, and horticulture, medical, automotive, electronics, and others, is likely to boost the Compostable plastic market across the globe over the next ten years. Rising demand from the packaging industry coupled with the ascending consumption of packed food and beverages will further propel the Compostable plastic market in the future. The expensive cost of Compostable plastic can somehow hinder the market growth in the forecast period.
Compostable Plastics, also known as bioplastics, hold the potential to reduce dependence on fossil fuels and petroleum-based products, foster the development of more sustainable products, and increase the diversion of food waste from landfills. These plastics are derived from natural and renewable resources like corn, potato, cellulose, lactic acid, etc., rather than from petrochemicals. Compostable plastic is non-toxic in nature and can be decomposed into carbon dioxide, water, and biomass when composted. However, bioplastics also present challenges and create uncertainty for several stakeholders in the market. Compostable plastic comprises less than 1% of the plastics in use today, but the plastic industry’s aim to reduce its dependency on fossil fuels and petroleum-based products, combined with consumers’ increasing demand for environmentally kind disposable products, are expected to boost growth in the production of bioplastics. As compostable plastics surge in the marketplace, effective end-of-life management has become increasingly important. Compostable plastic is usually defined by the standards association ASTM International (ASTM) as “a plastic that undergoes degradation by biological processes during composting to yield inorganic compounds, carbon dioxide, water, and biomass at a rate consistent with other is known as compostable plastic. Compostable plastic or Bioplastic leaves no visible, distinguishable, or toxic residue. There are twenty-three operational standards for testing the biobased content or biodegradability of plastics listed on the ASTM website. For identification purposes, these test methods and pass/fail standards are assigned numbers, e.g., D5338, D6400, D7081, and others.
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The Compostable plastic Market is segmented on the basis of type, end-use, sales channel, and region. Based on different types, the market is divided into home compostable plastic and others. The rising demand for compostable plastic for various industrial applications is projected to accelerate the others segment in the forecast period. Depending on various end-use applications, the market is segregated into bags, agriculture, and horticulture, medical devices, automotive, consumer electronics, disposable housewares, among others. The segment of compostable bags holds the major share in the Compostable plastic market. Rapidly growing demand for eco-friendly bags for shopping and other purposes in the market is likely to boost the Compostable plastic demand in the next few years.
Due to the spread of COVID-19 in 2020, the Compostable Plastic market witnessed a significant impact across the world. Consistently increasing demand for packaged food for safety purposes due to coronavirus in the food and beverage sector has driven the demand for compostable plastics around the globe. Surged demand for Compostable gloves in the medical sector to curb the spread of covid has also increased the demand for Compostable Plastic, which bolstered its market value during the first half of 2020.
Among different regions, Europe, followed by North America, dominates the Compostable plastic market around the globe and is anticipated to maintain its dominance in the forecast period as well. Increasing demand for Compostable plastic for food packaging applications in the European region is likely to dominate the market in the upcoming years. Gradually rising demand for compostable plastic in the automotive and other downstream sectors is further augmenting its demand growth in Europe.
Request Sample Form: Compostable Plastic Market Analysis Report
Some of the major players operating in Compostable plastic market include BASF SE, Mitsubishi Chemical Holdings, Novamont S.p.A., Dow Inc., Natureworks LLC, Biome Technologies plc, Corbion N.V., Eastman Chemical Company, Danimer Scientific, Plantic, and Others.
“Rapidly increasing demand for Compostable plastic from the blooming packaging, medical, agriculture, automotive, and other industries around the world others is expected to boost the market in the forecast period. Rising consumer demand for compostable plastics rather than conventional plastics due to their eco-friendly properties is likely to accelerate the Compostable plastic market over the next few years. “Said Mr. Karan Chechi, Research Director with TechSci Research a research-based management consulting firm promoting ChemAnalyst worldwide.
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