Global biodegradable plastics market to amass notable gains by 2025
Market Study Report, LLC.
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The research report on ‘Global biodegradable plastics market’ offers a qualitative as well as quantitative assessment of this business vertical. It evaluates the regional scope of the market while elaborating on the prevailing industry trends.
Selbyville, Delaware, Sept. 01, 2020 (GLOBE NEWSWIRE) -- According to MarketStudyReport LLC, Worldwide biodegradable plastics market amassed revenues worth USD 4709.19 million in the year 2019 and is predicted to expand considerably during 2020-2025. The growth is attributed to rising adoption of CSR (corporate social responsibility) practices among various enterprises and focus towards reducing the dependency on synthetic resources.
According to the research document, the market is classified into product type, application scope, and regional terrain. Information regarding leading companies with their business profiles and product portfolio is underlined. The report also measures the impact of COVID-19 on the growth rate as well as overall revenue of this industry landscape.
Introduction of stringent reforms which restrict the usage of plastic bags along with increasing awareness pertaining to global warming are further aiding the market expansion. Additionally, inclination towards mitigating carbon emissions during biodegradable plastics production is facilitating the business scenario. However, plunge in petroleum prices has resulted in easy availability of cheap traditional plastics, which in turn will act as a hindering factor to the growth of global biodegradable plastics market.
The sudden outbreak of COVID-19 disease has compelled numerous end-user companies to refrain from using biodegradable plastics in order to maintain adequate profit margins and company revenue amidst the pandemic, thereby hampering the remuneration of this industry vertical.
Based on product spectrum
The product landscape of global biodegradable plastics market is split into PBS, PHA, PLA, starch blends and others. Estimates claim that starch blends segment is expected to hold the largest market share by the end of the forecast period.
Starch blended biodegradable plastics are widely adopted as edible films as well as in food packaging solutions, since they help in reducing food loss while maintaining the freshness of the product. Besides this, starch blends are also used as controlled release materials for fertilizers. The product is used for producing sustainable materials owing to its low cost and high renewability nature, thereby contributing towards its popularity across the globe.
Elaborating the application scope
The application spectrum of worldwide biodegradable plastics market comprises of textile, agriculture, consumer goods, packaging, and others. According to credible estimates, the packaging application segment is estimated to account for significant market share by the year 2025. Growing demand for packaged food items along with evolving consumer lifestyle are fueling the segmental share. Biodegradable plastics are also used to develop adult incontinence products and diapers as well as for landfill covers.
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Global biodegradable plastics market is segmented into Europe, Asia-Pacific, and North America, while focusing on countries such as Australia, Japan, China, U.K., Spain, Italy, France, Germany, Canada, and the U.S.
Estimates cite that Europe currently accounts for the majority of market share and is poised to accumulate massive returns in the ensuing years. Rising cognizance regarding plastic waste along with the ban on single-use plastics are favoring the market outlook in Europe. Additionally, favorable government initiatives which promote the use of bio-based plastic products is also fueling the growth of Europe market.
Global Biodegradable Plastics Market by Product Type (Revenue, USD Million, 2015-2025)
PBS
PHA
PLA
Starch Blends
Others
Global Biodegradable Plastics Market by Application Range (Revenue, USD Million, 2015-2025)
Textile
Agriculture
Consumer Goods
Packaging
Others
Global Biodegradable Plastics Market by Regional Scope (Revenue, USD Million, 2015-2025)
North America
Canada
U.S.
Europe
U.K.
Spain
France
Italy
Germany
Asia-Pacific
Japan
Australia
China
Global Biodegradable Plastics Market by Competitive Hierarchy (Revenue, USD Million, 2015-2025)
Teijin Limited
Novamont S.p.A.
Danimer Scientific
Kuraray Co. Ltd.
Biome Bioplastics
Mitsubishi Chemical Holdings Corp.
Total Corbion PLA
BASF SE
NatureWorks
Carbios SA
Table of Content:
1. Report Scope and Methodology
1.1 Scope of the Report
1.2 Research Methodology
1.3 Executive Summary
2. Strategic Recommendations
3. Global Biodegradable Plastics Market Product Outlook
4. Global Biodegradable Plastics Market: An Analysis
4.1 Market Size, By Value, Year 2015-2025
4.2 Market Size, By Volume, Year 2015-2025
4.3 Market Growth Rate, Year 2015-2025
5. Global Biodegradable Plastics Market Segmentation By Product (By Value, By Volume)
5.1 Competitive Scenario of Global Biodegradable Plastics Market: By Product
5.2 Starch Blends? Market Size and Forecast (2020-2025)
5.3 PLA? Market Size and Forecast (2020-2025)
5.4 PHA? Market Size and Forecast (2020-2025)
5.5 PBS? Market Size and Forecast (2020-2025)
5.6 Others? Market Size and Forecast (2020-2025)
6. Global Biodegradable Plastics Market Segmentation By Application (By Value, By Volume)
6.1 Competitive Scenario of Global Biodegradable Plastics: By Application
6.2 Packaging? Market Size and Forecast (2020-2025)
6.3 Consumer Goods? Market Size and Forecast (2020-2025)
6.4 Agriculture? Market Size and Forecast (2020-2025)
6.5 Textile? Market Size and Forecast (2020-2025)
7. Global Biodegradable Plastics Market: Regional Analysis
8. North America Biodegradable Plastics Market: An Analysis (By Value, By Volume)
8.1 North America Biodegradable Plastics Market: Size and Forecast (2020-2025), By Value
8.2 North America Biodegradable Plastics Market: Size and Forecast (2020-2025), By Volume
8.3 North America Biodegradable Plastics Market ? Prominent Companies
8.4 Market Segmentation By Product (Starch Blends, PLA, PHA, PBS and Others)
8.5 Market Segmentation By Application (Packaging, Consumer Goods, Agriculture, Textile and Others)
9. Europe Biodegradable Plastics Market: An Analysis (By Value, By Volume)
9.1 Europe Biodegradable Plastics Market: Size and Forecast (2020-2025), By Value
9.2 Europe Biodegradable Plastics Market: Size and Forecast (2020-2025), By Volume
9.3 Europe Biodegradable Plastics Market ? Prominent Companies
9.4 Market Segmentation By Product (Starch Blends, PLA, PHA, PBS and Others)
9.5 Market Segmentation By Application (Packaging, Consumer Goods, Agriculture, Textile and Others)
10. Asia Pacific Biodegradable Plastics Market: An Analysis (By Value, By Volume)
10.1 Asia Pacific Biodegradable Plastics Market: Size and Forecast (2020-2025), By Value
10.2 Asia Pacific Biodegradable Plastics Market: Size and Forecast (2020-2025), By Volume
10.3 Asia Pacific Biodegradable Plastics Market ? Prominent Companies
10.4 Market Segmentation By Product (Starch Blends, PLA, PHA, PBS and Others)
10.5 Market Segmentation By Application (Packaging, Consumer Goods, Agriculture, Textile and Others)
Related Report:
Global Biodegradable Plastics Market Size study with COVID-19 Impact, and Regional Forecasts 2020-2027
Global Biodegradable Plastics Market is valued approximately USD 3.5 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 15.1 % over the forecast period 2020-2027, as per new researchreport. Biodegradable plastic is made using raw materials or petrochemicals and can be decomposed by living organisms such as bacteria. Biodegradable plastic takes less time to break down as it is made up of eco-friendly material and requires less energy for production. The global Biodegradable Plastics Market is facing challenges due to COVID-19 pandemic as manufacturing facilities and supply chain of many organizations is at halt. The increasing use in food packaging & compostable bags applications, shift in consumer preference toward eco-friendly plastic products and focus of governments on green procurement policies are the few factors responsible for growth of the market over the forecast period.
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