BCC Research Study Projects 26.3% CAGR, with Demand for
Biodegradable Polymers Growing from 1,286 Kilotons in 2023 to 4,140
Kilotons by 2028.
BOSTON, July 16,
2024 /PRNewswire/ -- Biodegradable polymers are a
type of polymer that can break down naturally into water, carbon
dioxide (or methane), and biomass through the action of
microorganisms. These materials are designed to decompose over time
when exposed to environmental conditions like moisture, heat, and
microbial activity.
Traditional plastics can last for hundreds of years in the
environment, causing pollution and harm to wildlife. Biodegradable
polymers, on the other hand, are designed to break down much
faster, reducing the amount of plastic waste and its impact on the
planet.
Market Expansion and Revenue Surge
"According to the latest BCC research study, the demand for
Biodegradable Polymers: Global Markets and Technologies
expected to grow from 1,286.0 kilotons in 2023 and will reach
4,140.0 kilotons by the end of 2028 at a compound annual growth
rate (CAGR) of 26.3% from 2023 to 2028."
This report covers various types of biodegradable plastics and
their uses in different industries. It provides production
estimates in kilotons without adjusting for inflation. You'll find
detailed information on the biodegradable polymer industry,
including its main users. The global market is divided by polymer
type (like PLA and starch blends), end-use (such as packaging and
medical), and region (including North
America, Europe, and
Asia-Pacific).
Some Interesting Facts about Biodegradable Polymers
- The global market for biodegradable plastics is seeing
opportunities due to bans on single-use plastics. For example,
Dubai banned
single-use plastic bags from January
2024, aiming to protect the environment and local
biodiversity. This move encourages the use of biodegradable
polymers instead of plastic bags and other disposable items like
food packaging, containers, bottles, and more.
- Major companies in the biodegradable polymers market are
expanding their production capacities in Asia. For instance, NatureWorks LLC announced
in October 2023 that it will build a
new production plant in Thailand
for its 'Ingeo PLA Biopolymer', which will begin operations in
2025. This expansion allows them to cater to the growing demand for
biodegradable polymers in the Asia-Pacific region.
- Small and medium-sized companies are focusing on biodegradable
polymers for medical applications. These materials are increasingly
used in medical devices, drug delivery systems, wound dressings,
and orthopedic devices. This trend is encouraging smaller companies
to enter the biodegradable polymers industry.
to discover more insights and information about Biodegradable
Polymers: Global Markets and Technologies, click here for
further exploration.
Factors contributing to this growth include:
- Increasing consumption of biodegradable polymers in
packaging.: More companies and individuals are opting for
packaging materials that naturally decompose. They're doing this to
lessen the environmental harm caused by traditional plastics, which
degrade slowly and pose risks to the environment. It's part of a
broader push to make packaging eco-friendlier and more sustainable
overall.
- Growing investments for innovative biodegradable
polymers.: More funding and effort are going into developing
new biodegradable materials to replace traditional plastics. This
is driven by the aim to make plastics and polymers that break down
naturally, reducing environmental harm. The goal is to find
sustainable alternatives for uses like packaging and medical
devices, aiming to protect the planet better.
- Supporting government policies for biodegradable
polymers.: means backing regulations and rules established by
governments to encourage the use of biodegradable materials instead
of traditional plastics. These policies aim to promote
environmental sustainability by reducing the negative impacts of
plastic waste on ecosystems.
- Opportunities for medical application.: refers to
favourable chances or possibilities to use biodegradable materials
in medical fields. This includes creating devices, dressings, and
tools that can break down safely in the body or environment,
reducing waste and potentially improving medical treatments.
Request a Sample Copy of the Biodegradable
Polymers: Global Markets and Technologies Report
Synopsis
Report
Metrics
|
Details
|
Base year
considered
|
2022
|
Forecast Period
considered
|
2023-2028
|
Base year market
size
|
1,143.0
kilotons
|
Market Size
Forecast
|
4,140.0
kilotons
|
Growth Rate
|
CAGR of 26.3% for the
forecast period of 2023-2028
|
Segment
Covered
|
Type, End-Use, and
Region
|
Regions
covered
|
North America, Europe,
Asia-Pacific, South America, and Middle East and Africa
|
Countries
covered
|
China, Japan, India,
South Korea, Australia, Germany, Italy, France, Spain, U.K., U.S.,
Canada, Mexico, Brazil, Argentina, Saudi Arabia, and South
Africa
|
Key Market
Drivers
|
- Increasing
consumption of biodegradable polymers in packaging.
- Growing investments
for innovative biodegradable polymers.
- Supporting
government policies for biodegradable polymers.
- Opportunities for
medical application.
|
Market Segmentation
The Global Market for Biodegradable Polymers: Global Markets and
Technologies can be categorized into various segments:
- By Type
The types of biodegradable polymers
include PLA (polylactic acid), which is made from fermented
plant starch like corn; starch blends, which combine starch with
other biodegradable materials; PBAT (polybutylene adipate
terephthalate), known for its flexibility and used in compostable
bags; PHA (polyhydroxyalkanoates), produced by microorganisms and
used in medical applications; cellulose films, made from plant cell
walls and used in packaging; and PBS (polybutylene succinate), a
versatile polymer used in both packaging and agriculture. These
materials are designed to break down naturally, reducing
environmental impact.
- End-Use
Biodegradable polymers are used in various
industries: packaging (like bags and containers), fibers (for
textiles and clothing), agriculture (such as mulch films and plant
pots), medical (including implants and drug delivery systems),
electrical and electronics (for components and casings), automotive
(for interior and exterior parts), and other miscellaneous
applications. These uses help reduce environmental impact by
providing sustainable alternatives to traditional plastics.
this report on global market for biodegradable polymers:
global markets and technologies provides comprehensive insights and
analysis, addressing the following key questions:
- What is the projected market size and growth rate of the
market?
In terms of volume, the global biodegradable
polymers market is projected to grow from 1,143.0 kilotons in 2022
to 4,140.0 kilotons in 2028 at a compound annual growth rate (CAGR)
of 26.3% during the forecast period.
- What are the key factors driving the growth of the
market?
The key factors driving the growth of the
biodegradable polymers market include:
- Growing investments for innovative biodegradable polymers
- Increasing consumption of biodegradable polymers in
packaging
- What segments are covered in the market?
The
biodegradable polymers market is segmented based on type, end-use,
and region. By type, it is segmented into six major segments: PLA,
starch blends, PBAT, PHA, cellulose films, and PBS; by end-use, the
market is segmented into packaging, fibers, agriculture, medical,
electrical & electronics, automotive, and others.
- By end-use, which segment will dominate the market by the
end of 2028?
The Packaging segment will dominate by the end
of 2028.
- Which region has the highest market share in the
market?
Asia-Pacific holds
the highest share of the market. The changing buying behaviors of
consumers and the rise in income among middle-class families are
increasing biodegradable polymer consumption in Asia-Pacific countries. The growing demand
from end-use industries and ease of availability of raw materials
further create a massive demand for biodegradable polymers in the
Asia-Pacific region during the
forecast period.
Some of the Key Market Players Are:
- BASF SE
- BIOME BIOPLASTICS
- BIOTEC BIOLOGISCHE NATURVERPACKUNGEN GMBH & CO. KG.
- CARDIA BIOPLASTICS
- DANIMER SCIENTIFIC
- DSM
- EVONIK INDUSTRIES AG
- FKUR
- MITSUBISHI CHEMICAL GROUP CORP.
- NATUREWORKS LLC.
- NOVAMONT S.P.A.
- SULZER LTD.
- TORAY INDUSTRIES INC.
- TOTALENERGIES CORBION
- ZHEJIANG HISUN BIOMATERIALS
CO. LTD.
Browse for more related reports:
Sustainable Biopolymers: Global
Markets: refers to the worldwide market for
eco-friendly, biodegradable plastics. These biopolymers are made
from renewable resources and are designed to break down naturally,
reducing environmental pollution. This market includes the
production, sale, and use of these sustainable materials in various
industries around the world.
Market Trends in the Plastics Industry: An Analysis of
Developments by Key Plastics Manufacturers: An Analysis of
Developments by Key Plastics Manufacturers means looking at how the
plastics industry is changing and what major companies are doing.
This analysis covers new products, technologies, and strategies
that big plastics manufacturers are using to stay competitive and
meet new demands, such as for more sustainable and eco-friendly
materials.
Directly Purchase a copy of the
report with BCC Research.
For further information or to make a purchase, please get in
touch with info@bccresearch.com.
About BCC Research
BCC Research provides objective, unbiased measurement and
assessment of market opportunities with detailed market research
reports. Our experienced industry analysts' goal is to help you
make informed business decisions, free of noise and hype.
Contact Us
Corporate HQ: 50 Milk St. Ste 16,
Boston, MA 02109, USA
Email: info@bccresearch.com,
Phone: +1 781-489-7301
For media inquiries, email press@bccresearch.com or visit our
media page for access to our market research library.
Data and analysis extracted from this press release must be
accompanied by a statement identifying BCC Research LLC as the
source and publisher.
Logo:
https://mma.prnewswire.com/media/2183242/BCC_Research_Logo.jpg
View original
content:https://www.prnewswire.com/news-releases/biodegradable-polymers-boom-tracking-global-market-growth-in-tons-302198081.html
SOURCE BCC Research LLC