HOME › Press Releases › Biodegradable Plastics Market worth 3.4 Billion USD by 2020
Biodegradable Plastics Market worth 3.4 Billion USD by 2020
According to a new market research report “Biodegradable Plastics Market by Type (PLA, PHA, PBS, Starch-Based Plastics, Regenerated Cellulose, PCL), by Application (Packaging, Fibers, Agriculture, Injection Molding, and Others) - Global Trends & Forecasts to 2020” , the biodegradable plastics market is projected to grow from more than USD 2.0 Billion in 2015 to USD 3.4 Billion by 2020, at a CAGR of 10.8% between 2015 and 2020. The report explains the driving and restraining factors of the global biodegradable plastics market with an analysis of trends, opportunities, and challenges.
Browse 84 tables and 52 figures spread through 145 Pages and in-depth TOC on "Biodegradable Plastics Market by Type (PLA, PHA, PBS, Starch-Based Plastics, Regenerated Cellulose, PCL), by Application (Packaging, Fibers, Agriculture, Injection Molding, and Others) - Global Trends & Forecasts to 2020"
Early buyers will receive 10% customization on reports.
The biodegradable plastics market is segmented by type, by application, and by region. The market size of each region, namely, Western Europe, North America, Asia-Pacific, and Rest of the World (RoW) is projected in the report. The key countries such as the U.S., Germany, China, and Japan are covered and their respective market sizes are forecasted along with their growth rates.
PLA: Largest Segment, By Type
PLA is expected to be the largest segment, in terms of volume, in 2015 with a market share of more than 45.1% of the total biodegradable plastics market. PLA is also expected to grow at the second-fastest rate among all the types of biodegradable plastics. The growth of PLA is expected to be driven by its superior mechanical properties and ease of processability. In terms of value, starch blends are expected to account for the largest share in the market during the forecast period. This is due to the comparative high cost of starch blends to PLA.
Packaging: Largest Segment, By Application
The packaging application is expected to be the largest segment, both in terms of value as well as volume, in 2015 with a market share of more than 60.3% of the total biodegradable plastics market. Biodegradable plastics are being increasingly used to manufacture single use packaging materials such as shopping bags, disposable cutlery, and others. The increased use of biodegradable plastics in this application is attributed to increasing environmental awareness.
Western Europe: Largest Consumer
Western Europe is the largest consumer of biodegradable plastics globally, holding more than 40.0% share of the global biodegradable plastics market in 2014. The high growth in the region is due to strict implementation of environmental regulations which prohibits the use of petroleum based plastics in single use applications.
Biodegradable Plastics Market
The biodegradable plastics market is segmented into five major applications, namely, packaging, fibers, agriculture, injection molding, and others. The demand for biodegradable plastics in injection molding application is expected to witness the fastest growth among all the applications. Western Europe is estimated to be the largest market for biodegradable plastics in medical application 2015. On the basis of type, the market is segmented into six segments, namely PLA, starch blends, PCL, regenerated cellulose, PBS, and PHA.
Leading companies such as BASF SE (Germany), Biome Technologies PLC (U.K.), Metabolix Inc. (U.S.), Mitsubishi Chemical Corporation (Japan), NatureWorks LLC (U.S.), and Plantic Technologies Ltd. (Australia) are focusing on development of new biodegradable plastic products through research and innovation to expand their product portfolio and application areas.
MarketsandMarkets is world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India