Global Biodegradable Plastics Market Insights, Opportunity Analysis, Market Shares and Forecast, 2016 - 2022
Biodegradable plastics are defined as the ones that can be decomposed in some specified period of time under composting conditions at any industrial facilities. The global biodegradable plastics market is still in its early stage and accounts for less than 1% of the total plastics market., but with continuous R&D activities adopted by the market players, the market is growing at a fast pace. High cost involved in biodegradable plastics acts as a major hindering factor in the growth of the market. But, the increasing environmental awareness, continuous R&D and supporting government policies, is expected to balance the economies of scale, and the cost of biodegradable plastics may get reduced in the forecast period.
There are normally two types of biodegradable plastics, injection molded and solid. The solid form is generally used for items such as food containers, leaf collection bags, and plastic water bottles. These plastics are further segmented into different categories like bio-based and petro-based biodegradable plastics. One of the most common processes employed in the production of biodegradable plastics is fermentation of sugar or canola oil to produce polylactic acid (PLA) or poly hydroxyalkanoates (PHA), which in turn gets converted into biodegradable plastics. The global biodegradable plastics market is anticipated to reach 804.58 kilo tons by 2022, growing at a CAGR of 12.5% between 2016 and 2022. In terms of value, the market is projected to reach $3.6 billion by 2022, growing at a CAGR of 11.3% between 2016 and 2022.
Based on product type, the biodegradable plastics market has been divided into PLA, starch blends, PCL, regenerated cellulose, PBS and PHA. In terms of applications, the market is divided into packaging, fibers, agriculture, injection molding and others. In terms of product type, biodegradable materials made by starch blends are expected to have the highest growth rate. On the basis of application, packaging industry currently has the highest market share and will continue to be top the market in the forecast period.
In terms of region, the market has been segmented into North America, Europe, Asia Pacific and Rest of the world. Demand for biodegradable plastics in each of its application segment is divided amongst these regions. Western Europe and North America are the two biggest consumers of biodegradable plastics worldwide. Italy and the U.S. are the key countries in Western Europe and North America, growing at CAGRs of 11.9% and 12.9%, respectively, in the forecast period. Apart from this, the developing countries such as China and India has huge untapped potential, hence are also rising at a rapid pace because of rising domestic demand.
The report comprises of profiles of leading companies in the global biodegradable plastics market. These profiles include BIO-ON, Biome Bioplastics, Corbion, Nature Works LLC, Mitsubishi Chemical Corporation, BASF SE, FKuR, Plantic, and Natur -Tec India Private Limited. These companies are actively working upon their R&D for better end user products. For instance, next-generation biodegradable plastics company Carbios (France) is a specialized chemistry company, which is just a 5-year-old green company, and is specializing in breakthrough technologies dedicated to the recovery of plastic waste. Company is working on reducing emission of waste in the manufacturing process. The company has recently got the two new U.S. patents and has exercised the worldwide licensing and patent options on these patent families.
Please note: The delivery time for the electronic version of this report is between 1-3 business days to allow the preparation of an updated version prior to dispatch.
1. BASF SE
2. BIOME TECHNOLOGIES PLC
3. BIO-ON SRL.
4. CORBION NV (PURAC)
6. FOREVER GREEN TRADING
7. GREEN ORIENTED INTERNATIONAL ALLIANCE
8. GREENPAK PRODUCTS LTD
9. MEREDIAN INC.
10. METABOLIX INC.
12. MITSUBISHI CHEMICAL CORP.
13. NATUREWORKS LLC
14. PLANTIC TECHNOLOGIES LIMITED
15. TIANAN BIOLOGIC MATERIALS CO. LTD.