Global Biodegradable Plastics Market By Type (Starch-Based, PLA, PBS, PBAT, PHA, And Others), Application (Packaging, Agriculture, Consumer Durable , Textile , And Others ); By Regions (North America, Europe, Asia Pacific, Latin America, And Middle East & Africa): Opportunity Analysis and Industry Forecast, 2017–2027

Date : Jun 2021

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Report ID : 88

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Category : Resins and Polymers

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Report Format:  PDF EXCEL PPT WORD

The global Biodegradable Plastics market was valued at USD 3.5 billion in 2020, and it is expected to reach USD 6.8 billion by 2027, with a CAGR of 9.6%, during the forecast period 2021-2027.

Biodegradable Plastics market

The conventional type of plastics (Non-biodegradable) is a huge environmental issue on a global level. Governing bodies are trying to tackle this global issue by banning single-use plastics and appealing to people to use biodegradable plastics over non-biodegradable plastics. Moreover, customers are willing to spend more on biodegradable plastic packaging owing to its environmental benefits.

The polymer that is designed to break down whenever exposed to the microorganisms is called as Biodegradable plastics. In order to degrade the biodegradable plastic, it requires humid conditions, water, carbon dioxide, and biomass. These polymers are made out of natural byproducts; these natural byproducts are commonly renewable raw materials, micro-organisms, petrochemicals, or combinations of all three.

Factors such as increasing use in food packaging & compostable bag applications, the shifts in consumer preference toward eco-friendly plastic products and the focus of governments on green procurement policies are primarily driving the biodegradable plastic market in the forecasted period.

However, the higher cost of biodegradable plastics than that of conventional plastics is hampering the market growth. Emerging end-use industries of biodegradable plastics provide a lucrative opportunity for the market to grow.

  1. By Type
    1. Starch-based
    2. PLA
    3. PBS
    4. PBAT
    5. PHA
    6. Others
  2. By Application 
    1. Packaging
    2. Agriculture
    3. Consumer Durable
    4. Textile
    5. Others
  3. By Region           
    1. North America
    2. Europe
    3. Asia Pacific
    4. Latin America
    5. Middle East & Africa

The unique insights provided by this report also includes the following:

  1. In-depth value chain analysis
  2. Opportunity mapping
  3. Sector snapshot
  4. Key Players Positioning Matrix
  5. Regulatory scenario
  6. Strategies Adopted-Benchmarking Heat Map
  7. Market trends
  8. Covid-19 impact analysis
  9. Product comparison
  10. Pre & Post COVID 19 impact on Biodegradable Plastics Market
  11. Competitive Landscape

Based on type, the starch-based segment was dominating the market in the year 2020

The starch-based product type segment is anticipated to drive the market growth in terms of revenue throughout the forecasted period. Starch-based biodegradable plastics are applied in many industries such as agriculture, automobiles, and packaging. The segment is expected to grow significantly at the CAGR of 10.4% during the estimated period. Also, PLA-type plastics are gaining more traction rapidly in this area. The inexpensive cost characteristic of PLA compared to other types of biodegradable plastics is a major factor driving the segmental growth at a significant rate.

Based on application, the Packaging segment is expected to grow with a high growth rate during the forecast period.

Based on application, the global biodegradable plastic market is categorized into packaging, agriculture, consumer durables, textiles, and many others. Amongst all, the Packaging segment is anticipated to hold the largest of the market by both volume and value. Biodegradable plastic packaging is applied in varied forms of packaging such as rigid packaging, and flexible packaging, among others. Products made of conventional plastics are aggressively being replaced by biodegradable plastics in food packaging by-products such as boxes, cups, wraps, and plates thus supporting the market growth for the biodegradable plastic market.

Based on Regions, the Europe region is dominating the global Biodegradable Plastics market in the year 2020

Based on the regions, the Biodegradable Plastics market has been segmented as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Regional analysis specifies that the European region is anticipated for the highest market share in both value and volume for the biodegradable plastic market. This growth can be attributed to the legal framework and strategies made by European Governing bodies that are expected to boost the extensive use of biobased plastic products and provide growth opportunities for the European biodegradable market. Moreover, the Asia Pacific region is expected to witness the fastest market surging rate due to the extensive presence of sugarcane feedstocks, which can be utilized for bioplastics production.

North America is also expected to witness substantial growth in the market owing to the technological advancement and increasing demand for sustainable and environmental friendly solutions are some of the key factors propelling the market growth.

Company Profiles and Competitive Intelligence:

The major players operating in the global Biodegradable Plastics market include NatureWorks, BASF SE, Total Corbion PLA, Mitsubishi Chemical Holdings, Biome Technologies plc, Plantic Technologies, Bio-On, Danimer Scientific, Novamont S.p.A, Toray Industries, Eastman Chemical Company, Dow Inc, Novamont S.p.A., Plantic, and Natureworks among others. The key players operating in this market are focusing on collaborating with various stakeholders and innovating new products.

The report also provides an in-depth analysis of market dynamics such as drivers, restraints opportunities and challenges

Drivers

  • Increasing Use in Food Packaging & Compostable Bags Applications
  • Shift in Consumer Preference Toward Eco-Friendly Plastic Products
  • Focus of Governments on Green Procurement Policies

Restraints

  • Higher Cost of Biodegradable Plastics Than That of Conventional Plastics

Opportunities

  • Emerging End-Use Industries of Biodegradable Plastics

Challenges

  • Performance Issues Related to Biodegradable Plastic

The report also provides an in-depth analysis of key market trends

Sr. No. Trends Impact
1 Increasing usage in food packaging & compostable bags applications  Positive
2 Increasing stringent government regulations relating to environmental friendly plastics  Positive
3 Shift in consumer preference toward eco-friendly plastic products  Positive
4 High cost of biodegradable plastic material compared to the conventional plastic material  Negative

The report also provides in-depth analysis of recent News Developments and Investments

  1. In April 2021, Maire Tecnimont SpA has announced that its subsidiary company, NextChem has signed a contract with Total Corbion PLA, a 50/50 joint venture between Total and Corbion, to perform front-end engineering design for a polylactic acid plant ( PLA) 100,000 tons per year in Grandpuits, France.
  2. In May 2019, BASF SE and Lactips signed a contract agreeing to market Lactips’ water-soluble, bio-based and fully biodegradable material. This long term contract is anticipated to supports BASF’s strategy to provide sustainable solutions to promote business growth.
  3. In Sept 2018, Biome Technologies announced that the company is selling its 50% stake in bioplastics maker Biotec to Sphere, which owns the other half of the company. The Biome partner has agreed to pay £ 5.2million for full control of the company.

Company Profiles and Competitive Intelligence

The key players operating in the market are:

  1. NatureWorks
  2. BASF SE
  3. Total Corbion PLA
  4. Mitsubishi Chemical Holdings
  5. Biome Technologies plc
  6. Plantic Technologies
  7. Bio-On
  8. Danimer Scientific
  9. Novamont S.p.A
  10. Toray Industries

Frequently Asked Questions (FAQs)

How big the global Biodegradable Plastics market?

The global beverage dispenser market was valued at US $ 3.5 bn in 2020 and is anticipated to reach US$ 6.8 bn by 2027.

What is the estimated market growth rate of Biodegradable Plastics industry?

The Biodegradable Plastics market is estimated to grow at a compound annual growth rate (CAGR) of 9.6% during 2020-2027.

Who are the key players in the feed additive industry?

Few key players include, but not limit up to: : NatureWorks, BASF SE, Total Corbion PLA, Mitsubishi Chemical Holdings, Biome Technologies plc, Plantic Technologies , Bio-On, Danimer Scientific, Novamont S.p.A, and Toray Industries.

Does the report provide detailed Covid-19 impact-analysis

The report analyses the impact of Covid-19 on the Biodegradable Plastics market in detail

Author Credentials

Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.

  1. INTRODUCTION
    1. Product Outline
    2. What is Biodegradable Plastics
    3. Different Types of Biodegradable Plastics  
    4. Analysis of Biodegradable Plastics Ecosystem
    5. Supply Chain Analysis
    6. Covid -19 Impact
    7. Market Dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Threats
    8. Technology Overview
  2. Regulatory Landscape for Biodegradable Plastics    
    1. Regulations or Standards
  3. Biodegradable Plastics  Market Pricing Analysis
    1. Prices of Biodegradable Plastics   
  4. Biodegradable Plastics  Market by Type
    1. Starch-based
    2. PLA
    3. PBS
    4. PBAT
    5. PHA
    6. Others
  5. Biodegradable Plastics  Market  by Application
    1. Packaging
    2. Agriculture 
    3. Consumer Durable 
    4. Textile 
    5. Others 
  6. Regional Analysis
    1. North America
      1. US
      2. Canada
      3. Mexico
    2. Europe
      1. Germany
      2. UK
      3. France
      4. Norway
      5. Italy
      6. Spain
      7. Netherlands
      8. Rest Of Europe
    3. Asia Pacific
      1. China
      2. India
      3. Japan
      4. Australia
      5. New Zealand
      6. Rest Of Asia Pacific
    4. Middle East and Africa
    5. South America
  7. Key Strategic Insights
    1. New Raw Material Sources
    2. New Applications
    3. Emerging Technologies
    4. Opportunity mapping
    5. Environmental Impact and sustainability issues
    6. Consumer preferences
  8. Key Market Trends / Recent Developments
  9. Competitive Scenario
    1. Competitive Strategies of Key Players
      1. Mergers and Acquisitions
      2. Investments
      3. Joint Ventures
      4. New Product launches
    2. Strength of product portfolio
    3. Presence of players by Geographies
  10. KEY GLOBAL PLAYERS
    1. NatureWorks
    2. BASF SE
    3. Total Corbion PLA
    4. Mitsubishi Chemical Holdings
    5. Biome Technologies plc
    6. Plantic Technologies
    7. Bio-On
    8. Danimer Scientific
    9. Novamont S.p.A
    10. Toray Industries
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