North America Biodegradable Plastic Market to 2027 - Regional Analysis and Forecasts by Type (PHA, PLA, Starch Blends, Biodegradable Polyesters, Others); End User (Packaging and Bags, Agriculture and Horticulture, Consumer Goods, Textile, Others), and Country
The North America biodegradable plastic market is accounted to US$ 806.9 Mn in 2018 and is expected to grow at a CAGR of 14.0% during the forecast period 2019 - 2027, to account to US$ 2,622.4 Mn by 2027.
The North America biodegradable plastic market is segmented on the basis of type as - PHA, PLA, starch blends, biodegradable polyesters and others. The starch blend North America biodegradable plastic market is estimated to hold a dominant share in the market. The starch blend polymers bio-blends are biodegradable polymeric materials that are composed of cellulosic-based biomaterials that are degraded by enzymes and microorganisms. The combination of starch and polyolefin gives a single material carrying the biodegradation properties of starch with the thermal, mechanical and barrier properties of polyolefin. The common starches that are used are rice starch, sago and tapioca starch, whereas the polyolefin used are polypropylene and polyethylene. The cellulose have received growing attention as compared to other polymers considering its consumption by many microorganisms and growing demand in the application of textiles. Starch is a naturally occurring polymer that is found in plants such as corn, rice and potatoes in the form of water-insoluble granules.
The North America biodegradable plastic market is segmented on the basis of end user as: packaging and bags, agriculture and horticulture, consumer goods, textile and others. The packaging and bags segment accounts the highest share in the North America biodegradable plastic market, while the other end-users segment also contributes a significant share in the market. The biodegradable plastics have found a vital place in the packaging and bags sector owing to the increasing demand for biodegradable plastic from the packaging sector considering its properties like higher tensile strength and convenience of usage as compared to the conventional plastics. Rigid packaging is executed by manufacturers of cosmetic goods, as well as beverage bottles, among others. Materials, including bio-PE, PLA, or bio-PET, are commonly used in rigid biodegradable plastic packaging.
Clean up efforts taken up by the North American government is one of the key drivers for the growth of North America biodegradable plastic market. The supportive government policies for biodegradable plastics in North America have further propelled the use of these plastics. For instance, the ASTM D6400 is the North American standard specifying that all the plastic products falling under the category of biodegradable or compostable should completely decompose in a composting setting in a specified time frame and should leave no harmful residues afterwards. Such government measures have fuelled the growth of the biodegradable plastics market in North America.
North America biodegradable plastic market in segmented on the basis of country as - U.S., Canada and Mexico. U.S. has a major share in the North America biodegradable plastic market, which is followed by Canada. The manufacturers have come up with several innovations in the case of plastics to turn it up into greener products. The development of bioresin as an environmentally friendly substitute to polyurethane-based plastic is considered to be one of the important transformations towards the green future. Although, in spite of innovations and recycling efforts, the problem of improper disposal of plastic bags still prevails. Various regulations have been implemented to combat and restrict the free distribution of plastic bag, enacted in several states and cities. The increased consciousness towards the harmful effects of non-biodegradable plastic bags on the environment and an international trend toward assuming social responsibility to reduce pollution is promoting the use of biodegradable plastics across the region.
Some of the players present in North America biodegradable plastic market are API S.p.A, BASF SE, FKuR Kunststoff GmbH, Green Dot Bioplastics, NatureWorks LLC., Novamont S.p.A., Kingfa Sci. & Tech. Co., Ltd., Mitsubishi Chemical Corporation, Plantic Technologies Limited and Total Corbion PLA.
The overall North America biodegradable plastic market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the North America biodegradable plastic market. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America biodegradable plastic market.
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the North America biodegradable plastic market, thereby allowing players to develop effective long term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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