Biodegradable Polymers Market – Global Market Size, Strategic Growth Drivers, Risk Assessment Framework, Regulatory Landscape Review, Competitive Intensity Mapping & Long-Term Industry Outlook to 2032
Overview
Biodegradable Polymers Market is expected to reach US$ 1.57 Bn. by 2029, at a CAGR of 16.6% during the forecast period.
The report has covered region-wise market trends with a competitive landscape. The report study has analyzed the revenue impact of the COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
The Biodegradable polymers are a special class of polymer that breaks down after its intended purpose by bacterial decomposition process to result in natural byproducts such as gases (CO2, N2), water, biomass, and inorganic salts.
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Biodegradable Polymers Market Dynamics:
The global biodegradable polymer market is driven by the stringent government regulations against plastic bags and other plastic items, and the growth in the agriculture & horticulture, packaging & bags, and textile industries. The shift in consumer preference toward fresh and ready-to-eat meals associated with suitable packaging technique, and the rising adoption of biodegradable polymers in the agriculture industry for plant pots, containers, films, and storage bags for chemicals and fertilizers are likely to impel the market growth in the coming years.
However, the availability of substitute’s material and the volatility in the raw material price may hamper the market growth at a global level. Also, the higher price of biodegradable polymers and the impact of the COVID-19 pandemic outbreaks are restraining the market growth in the forecast period. The rising demand for bio-degradable polymer in various applications, such as in the shale gas industry, hygiene products, and fishing gears, among other applications are projected to create beneficial growth opportunities for key players in the market over the upcoming period.
The Starch-Based Polymer held the largest market share of 42.11% in 2022
The MMR report covers the detailed analysis of the global bio degradable polymer market by type, application, and region.
Based on type, the Starch-Based Polymer held the largest market share of 42.11% in 2022, which is almost US$ xx Mn, and is expected to grow at a CAGR of xx% during the forecast period. Starch-based polymers are bio-based as well as biodegradable plastic having a low toxicity. Starch-based polymers are majorly utilized to reduce the carbon emission of conventional resins are likely to boost the market growth. The packaging industry is the leading consumer of starch blends owing to their ease of adaptability and increasing application in food packaging, which is expected to fuel the market growth in the coming years. The growth in the chemical industry and the increasing investment for the development of new chemicals in emerging economies are encouraging the key players to shift focus on bio-based products to build sustainable ecosystems.
Based on application, the packaging segment has led the global biodegradable polymer market in 2022 and is expected to reach US$ xx Mn by 2029, with a CAGR of xx%. Bio-degradable polymers are majorly utilized in both flexible and rigid packaging applications like wrapping organic food, premium, and branded products with particular requirements.
In terms of revenue, Europe held the largest market share of xx% in 2022
Geographically, Europe held the largest market share of xx% in 2022 and is expected to reach US$ xx Mn by the end of 2029, with a CAGR of xx%. This is attributed to the growing demand for the product in several packaging applications and stringent environmental regulations against the use of non-biodegradable polymers in Europe. High awareness among consumers toward plastic waste along with the European government imposing strict guidelines to ban the usage of petroleum-based plastics single-use plastics is projected to fuel the market growth in the coming years. Increased investment in R& D activities for the introduction of advance bio-degradable polymer is predicted to accelerate the market growth in the near future.
In terms of value, Asia Pacific is expected to grow at a CAGR of xx% during the forecast period, thanks to the easy availability of raw materials used to manufacture biodegradable plastics. The development in healthcare facilities, the growing demand for eco-friendly packaging solutions, and the increasing focus on biomedical applications are also propelling the market growth in the Asia Pacific. Rising disposable income and improving the standard of living in developing countries such as China and India are anticipated to augment the market growth in the region. Emerging economies such as China and India is the leading contributor to regional market growth. In terms of consumption, China held the dominant market share of xx% in 2022 and expected to keep its dominance during the forecast period owing to the stringent government guidelines and low production costs.
The objective of the report is to present a comprehensive analysis of the Global Biodegradable Polymers Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Biodegradable Polymers Market dynamics, structure by analyzing the market segments and project the Global Biodegradable Polymers Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Biodegradable Polymers Market make the report investor’s guide.
Biodegradable Polymers Market Scope: Inquire before buying
| Global Biodegradable Polymers Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2022 | Forecast Period: | 2023-2029 |
| Historical Data: | 2018 to 2022 | Market Size in 2022: | US $ 0.53 Bn. |
| Forecast Period 2023 to 2029 CAGR: | 16.6% | Market Size in 2029: | US $ 1.57 Bn. |
| Segments Covered: | by Type | Polybutylene Adipate Terephthalate Polybutylene Succinate Adipate Polyhydroxyalkanoates Polybutylene Succinate Starch-Based Polymer Polycaprolactone Polyglycolic Acid Polylactic Acid |
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| by Application | Consumer Goods Packaging Healthcare Agriculture Textile Other |
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Biodegradable Polymers Market, by Region:
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Biodegradable Polymers Market, Key Players:
1.Mitsubishi Chemical Corporation
2.Biopac India Corporation Ltd
3.WestRock Company
4.Georgia-Pacific
5.Metabolix, Inc
6.Cereplast Inc
7.NatureWorks LLC
8.Biome Bioplastics
9.Smurfit Kappa Group
10.Mondi Group
11.BASF SE
12.Plantic technologies
13.Cardia Bioplastics
14.Eastman Chemical Company
15.DuPont
16.Merck KGaA
17.Novamont SpA
18.Rodenburg Biopolymers
Frequently Asked Questions:
1. Which region has the largest share in Global Biodegradable Polymers Market?
Ans: Asia Pacific region held the highest share in 2022.
2. What is the growth rate of Global Biodegradable Polymers Market?
Ans: The Global Biodegradable Polymers Market is growing at a CAGR of 16.6% during forecasting period 2023-2029.
3. What is scope of the Global Biodegradable Polymers market report?
Ans: Global Biodegradable Polymers Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. Who are the key players in Global Biodegradable Polymers market?
Ans: The important key players in the Global Biodegradable Polymers Market are – Mitsubishi Chemical Corporation, Biopac India Corporation Ltd, WestRock Company, Georgia-Pacific, Metabolix, Inc, Cereplast Inc, NatureWorks LLC, Biome Bioplastics, Smurfit Kappa Group, Mondi Group, BASF SE, Plantic technologies, Cardia Bioplastics, Eastman Chemical Company, DuPont, Merck KGaA, Novamont SpA, and Rodenburg Biopolymers
5. What is the study period of this market?
Ans: The Global Biodegradable Polymers Market is studied from 2022 to 2029.