Biodegradable Plastics Market by Type, End Use Industry and Region - 2023

Biodegradable Plastics Market by Type (PLA, Starch Blends, Biodegradable Polyesters, PHA), End Use Industry (Packaging & Bags, Consumer Goods, Agriculture & Horticulture), and Region (APAC, Europe, North America, Rest of the World) - Global Forecast to 2023

Report Code: CH 2736 Oct, 2018, by marketsandmarkets.com

[112 Pages Report] The biodegradable plastics market is expected to grow from USD 3.02 billion in 2018 to reach USD 6.12 billion by 2023, at a CAGR of 15.1% between 2018 and 2023. In this report, 2017 is considered as the base year and the forecast period is between 2018 and 2023.

Objectives of the Study:

To define, describe, and forecast the biodegradable plastics market, in terms of value and volume
To provide detailed information regarding the main factors (drivers, restraints, opportunities, and challenges) influencing the market growth
To forecast the market size on the basis of type and end-use industry
To forecast the size of the market with respect to four main regions, namely, North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
To strategically analyze the micromarkets with respect to individual growth trends, future prospects, and contribution to the overall market
To analyze opportunities in the market for stakeholders and provide a competitive landscape for the market leaders
To analyze the competitive developments such as mergers, acquisitions & partnerships; new product launches; and expansions in the market
To strategically profile the key players and comprehensively analyze their market shares and core competencies in the market

Both top-down and bottom-up approaches were used to estimate and validate the size of the global biodegradable plastics market and to estimate the size of various other dependent submarkets. The research involves the use of extensive secondary sources, directories, and databases such as D&B Hoovers, Bloomberg, Chemical Weekly, Factiva, Bloomberg Businessweek, and articles from recognized authors to identify and collect information useful for a technical, market-oriented, and commercial study of the biodegradable plastics market.

Biodegradable Plastics Market

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Major Players:

NatureWorks (US)
BASF (Germany)
Total Corbion PLA (Netherlands)
Mitsubishi Chemical (Japan)
Biome Bioplastics (UK)
Plantic Technologies (Australia)
Bio-On (Italy)
Danimer Scientific (Georgia)
Novamont S.p.A (Italy)
Toray Industries (Japan)

Key Target Audience:

Biodegradable plastics manufacturing companies
Traders, distributors, and retailers
Raw material suppliers
Commercial R&D institutes
Research institutes, trade associations, and government agencies
Consulting companies/consultants in the chemical and material sectors

�This study answers several questions for the stakeholders, primarily which market segments they should focus upon during the next two to five years to prioritize their efforts and investments.�

Scope of the Report:

This research report categorizes the biodegradable plastics market based on type, end-use industry, and region.

Based on Types:

PLA
Starch Blends
Biodegradable Polyesters
PHA
Others (Cellulose Derivatives and Regenerated Cellulose)

Based on Application:

Packaging & Bags
Consumer Goods
Agriculture & Horticulture
Textile
Others (Automotive and Building & Construction)

Based on Region:

North America
Europe
APAC
RoW
The market is further analyzed for the key countries in each of these regions.

Available Customizations:

Along with the market data, MarketsandMarkets offers customizations according to the company�s specific needs. The following customization options are available for the report:

Regional Analysis:

A country-level analysis of the biodegradable plastics market, by end-use industry.

Company Information:

Detailed analysis and profiles of additional market players.

The market size of biodegradable plastics is expected to reach USD 6.12 billion by 2023 from USD 3.02 billion in 2018, at a CAGR of 15.1%. Rising income of people in emerging economies, and high growth in the agriculture & horticulture, packaging & bags, and textile industries are the key factors driving the biodegradable plastics market.

The biodegradable plastics market is experiencing significant growth globally, due to the shift in consumer preference toward eco-friendly plastic products and increasing use in food packaging & compostable bags applications in emerging markets such as APAC and Rest of the World. The market is also growing as the increasing regulations and prohibitions against plastic bags and other plastic items are driving the market, worldwide.

Based on end-use industry, the biodegradable plastics market has been segmented into packaging & bags, consumer goods, agriculture & horticulture, textile, and others (automotive, medical, and building & construction). Packaging & bags is the largest and the fastest-growing end-use industry of biodegradable plastics. The new applications of biodegradable plastics in the packaging industry are diaper banking, adult incontinence products, and landfill covers. With several innovative products coming up, the use of biodegradable plastics in packaging is expected to increase further.

Biodegradable plastics are used for manufacturing bottles, loose-fill, cups, pots, bowls, flexible films, and other products. Thermoset plastics (soy polyurethanes and unsaturated polyester resins) and thermoplastics (PLA, starch blends, PBS, PHA, and cellulose) are the two types of biodegradable plastics mainly used in the packaging industry. Packaging products made from these plastics are mainly used in fresh food packaging and the packaging of dried snacks & candy, bakery goods, water & juice bottles, and meat trays, and coatings for beverages cups, and films & card stock.

Consumer goods is the second-largest end-use industry of biodegradable plastics. The major consumer goods considered under this segment are household appliances, electronic devices, and others. Electronic devices consist of parts such as casings, circuit boards, and data storage that are made from conventional plastics, as plastics offer durability, lightness, and mobility. The major consumer goods manufacturers are shifting their focus from traditional plastics to biodegradable plastics to reduce the negative impact on the environment. Biodegradable plastics are used for manufacturing consumer goods such as touch screen computer casings, loudspeakers, mobile casing, and vacuum cleaners.

Biodegradable Plastics Market

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APAC is expected to be the fastest-growing market for biodegradable plastics during the forecast period. China and India are among the fastest-growing economies in the world. India is projected to continue to be the fastest-growing market for biodegradable plastics during the forecast period. The growth of the biodegradable plastics market in APAC is attributed to the easy availability of raw materials used to manufacture biodegradable plastics. The future growth of biodegradable plastics in APAC highly depends on the awareness about the use of biodegradable plastics as a viable alternative to traditional plastics and price reduction. The biodegradable plastics market is growing at a significant rate. However, higher cost of biodegradable plastics than that of conventional plastics is restricting the growth.

Companies such as NatureWorks (US), BASF (Germany), Total Corbion PLA (Netherlands), Mitsubishi Chemical Corporation (Japan), and Biome Bioplastics (UK) are the major players operating in the global biodegradable plastics market. These companies focus on strengthening their market position through increased R&D activities and technological advancements. They also focus on adopting various organic and inorganic growth strategies, such as expansions, mergers, acquisitions & partnerships, and new product launches, to increase their market share.

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Table of Contents

1 Introduction (Page No. - 14)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Years Considered for the Study
    1.4 Currency
    1.5 Unit Considered
    1.6 Stakeholders

2 Research Methodology (Page No. - 17)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Data Triangulation
    2.4 Assumptions
    2.5 Limitations

3 Executive Summary (Page No. - 24)

4 Premium Insights (Page No. - 28)
    4.1 Attractive Opportunities in the Biodegradable Plastics Market
    4.2 Biodegradable Plastics Market, By Type
    4.3 APAC Biodegradable Plastics Market, By Country and End-Use Industry
    4.4 Biodegradable Plastics Market, By End-Use Industry
    4.5 Biodegradable Plastics Market, By Region

5 Market Overview (Page No. - 31)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increasing Use in Food Packaging & Compostable Bags Applications
                    5.2.1.2 Shift in Consumer Preference Toward Eco-Friendly Plastic Products
                    5.2.1.3 Focus of Governments on Green Procurement Policies
           5.2.2 Restraints
                    5.2.2.1 Higher Cost of Biodegradable Plastics Than That of Conventional Plastics
           5.2.3 Opportunities
                    5.2.3.1 Emerging End-Use Industries of Biodegradable Plastics
           5.2.4 Challenges
                    5.2.4.1 Performance Issues Related to Biodegradable Plastic
    5.3 Porter�s Five Forces Analysis
           5.3.1 Bargaining Power of Suppliers
           5.3.2 Bargaining Power of Buyers
           5.3.3 Threat of New Entrants
           5.3.4 Threat of Substitutes
           5.3.5 Intensity of Competitive Rivalry

6 Biodegradable Plastics Market, By Type (Page No. - 37)
    6.1 Introduction
    6.2 PLA
           6.2.1 Increasing Use of PLA in Cold Products for Frozen Items and in Food Packaging to Drive the Demand
    6.3 Starch Blends
           6.3.1 Benefits Such as Biodegradability, Renewability, and Low Cost Will Boost the Demand of Starch Blends
    6.4 Pha
           6.4.1 Use of High-Quality Materials in Pacakging to Drive the Growth of Pha
    6.5 Biodegradable Polyesters
           6.5.1 PCL
                    6.5.1.1 Pcl A Hydrophobic Semi-Crystalline Polymer Widely Used as Polyol for Polyurethane Applications
           6.5.2 Pbat
                    6.5.2.1 Flexibility and Resilience of Pbat Make It Ideal for Blending With Another Biodegradable Polymer
           6.5.3 Pbs
                    6.5.3.1 Excellent Process Ability CAPACity to Drive the Market for Pbs in Plastics Industry
    6.6 Others

7 Biodegradable Plastics Market, By End-Use Industry (Page No. - 42)
    7.1 Introduction
    7.2 Packaging & Bags
           7.2.1 Packaging & Bags Segment Accounted for the Largest End Use Industry of Biodegradable Plastics
    7.3 Consumer Goods
           7.3.1 Consumer Goods Segment is Projected to Grow at the Second-Fastest Cagr During the Forecast Period
    7.4 Agriculture & Horticulture
           7.4.1 Biodegradable Plastics are Used in the Agriculture & Horticulture Industry for Manufacturing Mulches, Seeding Strips, and Tapes
    7.5 Textile
           7.5.1 in Textile Industry PLA is Extensively Used Due to Its Excellent Property of Extremely Low Moisture Regain
    7.6 Others

8 Biodegradable Plastics Market, By Region (Page No. - 49)
    8.1 Introduction
    8.2 North America
           8.2.1 US
                    8.2.1.1 US Accounted for the Largest Market Size in the Biodegradable Plastics Market in North America
           8.2.2 Canada
                    8.2.2.1 Canada is Expected to Witness the High Growth Rate in the Biodegradable Plastics Market in North America
           8.2.3 Mexico
                    8.2.3.1 The Growing Environmental Concerns are Fuelling the Demand for Sustainable Alternatives in the Country
    8.3 Europe
           8.3.1 Germany
                    8.3.1.1 The Presence of A Large Number of Biodegradable Plastics Manufacturers and Processors Boost the Market in the Country
           8.3.2 France
                    8.3.2.1 France is Expected to Grow With Highest Cagr in Europe During Forecast Period
           8.3.3 UK
                    8.3.3.1 Growing Food & Beverage Packaging Industry in UK to Boost the Market
           8.3.4 Italy
                    8.3.4.1 Biodegradable Plastics are Increasingly Being Used in Agriculture Industry in Italy
           8.3.5 Spain
                    8.3.5.1 Spain is Gaining Momentum With the Growing Packaging & Bags and Consumer Goods End-Use Industries in the Country
           8.3.6 Rest of Europe
    8.4 APAC
           8.4.1 China
                    8.4.1.1 China to Be the Largest and Fastest Growing Country for Biodegradable Plastics in APAC Region
           8.4.2 Japan
                    8.4.2.1 Adoption of New Technologies to Increase the Production CAPACity of Biodegradable Plastics in the Country
           8.4.3 India
                    8.4.3.1 Biodegradable Mulch Films are Widely Used in the Agriculture Industry in India
           8.4.4 South Korea
                    8.4.4.1 Use of Biodegradable Plastics is Gaining Momentum in the Country With Increasing Environmental Concerns
           8.4.5 Rest of APAC
    8.5 Rest of the World (RoW)
           8.5.1 Brazil
                    8.5.1.1 Packaging & Bags to Be the Largest and Fastest Growing Market for Biodegradable Plastics in Row
           8.5.2 Argentina
                    8.5.2.1 Increasing Use of Biodegradable Plastics is Attributed to Shift in Focus From Traditional Plastic to Biodegradable Plastics in Argentina
           8.5.3 Other Countries

9 Competitive Landscape (Page No. - 79)
    9.1 Overview
    9.2 Market Ranking of Key Players
    9.3 Competitive Situation & Trends
           9.3.1 New Product Launches
           9.3.2 Expansions
           9.3.3 Mergers, Acquisitions, and Partnerships

10 Company Profiles (Page No. - 85)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
     10.1 Natureworks
     10.2 BASF SE
     10.3 Total Corbion PLA
     10.4 Mitsubishi Chemical Corporation
     10.5 Biome Bioplastics
     10.6 Plantic Technologies
     10.7 Bio-On
     10.8 Danimer Scientific
     10.9 Novamont S.P.A.
     10.10 Toray Industries
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
     10.11 Other Players
             10.11.1 Zhejiang Hisun Biomaterials Co., Ltd
             10.11.2 Succinity GmbH
             10.11.3 Perstorp
             10.11.4 Bio-Fed
             10.11.5 Tianan Biologic Materials Co.
             10.11.6 Synbra Technology Bv
             10.11.7 Tianjin Greenbio Materials Co., Ltd
             10.11.8 Fkur Kunststoff GmbH
             10.11.9 Sphere
             10.11.10 Newlight Technologies
             10.11.11 Green Dot Bioplastics
             10.11.12 API S.P.A
             10.11.13 Carbiolice
             10.11.14 Indochine Bio Plastiques (ICDP) Sdn. Bhd
             10.11.15 Clondalkin

11 Appendix (Page No. - 106)
     11.1 Insights From Industry Experts
     11.2 Discussion Guide
     11.3 Knowledge Store: Marketsandmarkets Subscription Portal
     11.4 Available Customizations
     11.5 Related Reports
     11.6 Author Details

List of Tables (66 Tables)

Table 1 Biodegradable Plastics Market Size, By Type, 2016�2023 (USD Million)
Table 2 Biodegradable Plastics Market Size, By Type, 2016�2023 (Kiloton)
Table 3 Biodegradable Plastics Market Size, By End-Use Industry, 2016-2023 (USD Million)
Table 4 Biodegradable Plastics Market Size, By End-Use Industry, 2016-2023 (Kiloton)
Table 5 Biodegradable Plastics, Market Size in Packaging & Bags, By Region, 2016-2023 (USD Million)
Table 6 Biodegradable Plastics Market Size in Packaging & Bags, By Region, 2016-2023 (Kiloton)
Table 7 Biodegradable Plastics, Market Size in Consumer Goods, By Region, 2016-2023 (USD Million)
Table 8 Biodegradable Plastics, Market Size in Consumer Goods, By Region, 2016-2023 (Kiloton)
Table 9 Biodegradable Plastics Market Size in Agriculture & Horticulture, By Region, 2016-2023 (USD Million)
Table 10 Biodegradable Plastics Market Size in Agriculture & Horticulture, By Region, 2016-2023 (Kiloton)
Table 11 Biodegradable Plastics Market Size in Textile, By Region, 2016-2023 (USD Million)
Table 12 Biodegradable Plastics Market Size in Textile , By Region, 2016-2023 (Kiloton)
Table 13 Biodegradable Plastics Market Size in Others, By Region, 2016-2023 (USD Million)
Table 14 Biodegradable Plastics Market Size in Others, By Region, 2016-2023 (Kiloton)
Table 15 Biodegradable Plastics Market Size, By Region, 2016�2023 (USD Million)
Table 16 Biodegradable Plastics Market Size, By Region, 2016�2023 (Kiloton)
Table 17 North America: Biodegradable Plastics Market Size, By Country, 2016�2023 (USD Million)
Table 18 North America: Biodegradable Plastics Market Size, By Country, 2016�2023 (Kiloton)
Table 19 North America: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (USD Million)
Table 20 North America: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (Kiloton)
Table 21 US: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (USD Million)
Table 22 US: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (Kiloton)
Table 23 Canada: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (USD Million)
Table 24 Canada: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (Kiloton)
Table 25 Mexico: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (USD Million)
Table 26 Mexico: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (Kiloton)
Table 27 Europe: Biodegradable Plastics Market Size, By Country, 2016�2023 (USD Million)
Table 28 Europe: Biodegradable Plastics Market Size, By Country, 2016�2023 (Kiloton)
Table 29 Europe: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (USD Million)
Table 30 Europe: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (Kiloton)
Table 31 Germany: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (USD Million)
Table 32 Germany: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (Kiloton)
Table 33 France: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (USD Million)
Table 34 France: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (Kiloton)
Table 35 UK: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (USD Million)
Table 36 UK: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (Kiloton)
Table 37 Italy: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (USD Million)
Table 38 Italy: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (Kiloton)
Table 39 Spain: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (USD Million)
Table 40 Spain: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (Kiloton)
Table 41 Rest of Europe: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (USD Million)
Table 42 Rest of Europe: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (Kiloton)
Table 43 APAC: Biodegradable Plastics Market Size, By Country, 2016�2023 (USD Million)
Table 44 APAC: Biodegradable Plastics Market Size, By Country, 2016�2023 (Kiloton)
Table 45 APAC: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (USD Million)
Table 46 APAC: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (Kiloton)
Table 47 China: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (USD Million)
Table 48 China: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (Kiloton)
Table 49 Japan: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (USD Million)
Table 50 Japan: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (Kiloton)
Table 51 India: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (USD Million)
Table 52 India: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (Kiloton)
Table 53 South Korea: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (USD Million)
Table 54 South Korea: Biodegradable Plastics Market Size, By End-Use, 2016�2023 (Kiloton)
Table 55 Rest of APAC: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (USD Million)
Table 56 Rest of APAC: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (Kiloton)
Table 57 RoW: Biodegradable Plastics Market Size, By Country, 2016�2023 (USD Million)
Table 58 RoW: Biodegradable Plastics Market Size, By Country, 2016�2023 (Kiloton)
Table 59 RoW: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (USD Million)
Table 60 RoW: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (Kiloton)
Table 61 Brazil: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (USD Million)
Table 62 Brazil: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (Kiloton)
Table 63 Argentina: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (USD Million)
Table 64 Argentina: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (Kiloton)
Table 65 Other Countries: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (USD Million)
Table 66 Other Countries: Biodegradable Plastics Market Size, By End-Use Industry, 2016�2023 (Kiloton)

List of Figures (34 Figures)

Figure 1 Biodegradable Plastics Market Segmentation
Figure 2 Biodegradable Plastics Market: Research Design
Figure 3 Market Size Estimation: Bottom-Up Approach
Figure 4 Market Size Estimation: Top-Down Approach
Figure 5 Biodegradable Plastics Market: Data Triangulation
Figure 6 PLA to Be the Leading Type of Biodegradable Plastics
Figure 7 Packaging & Bags to Be the Largest and the Fastest-GRoWing End-Use Industry of Biodegradable Plastics
Figure 8 Europe to Be the Largest Biodegradable Plastics Market
Figure 9 Europe Led the Biodegradable Plastics Market in 2017
Figure 10 Increasing Use of Biodegradable Plastics in the Packaging & Bags Industry to Drive the Market Between 2018 and 2023
Figure 11 PLA to Be the Fastest-Growing Type of Biodegradable PLAstics
Figure 12 China Accounted for the Largest Share of the Biodegradable PLAstics Market
Figure 13 Packaging & Bags Was the Largest Segment in 2017
Figure 14 APAC to Be the Fastest-Growing Biodegradable PLAstics Market
Figure 15 Overview of Factors Governing the Biodegradable PLAstics Market
Figure 16 Biodegradable PLAstics Market: Porter�s Five Forces Analysis
Figure 17 PLA to Be the Fastest-Growing Type of Biodegradable Plastics
Figure 18 Packaging & Bags Was the Largest End-Use Industry of Biodegradable Plastics
Figure 19 Regional Snapshot (2018�2023): Europe to Account for the Largest Market Size
Figure 20 US Accounts for the Largest Market Size in North America
Figure 21 European Biodegradable Plastics Market Snapshot
Figure 22 APAC Biodegradable Plastics Market Snapshot
Figure 23 Brazil to Dominate the Biodegradable Plastics Market in Row
Figure 24 Companies Have Adopted Expansions as the Key Strategy, 2013-2018
Figure 25 Natureworks Accounted for the Largest Market Share
Figure 26 Natureworks: SWOT Analysis
Figure 27 BASF SE: Company Snapshot
Figure 28 BASF SE: SWOT Analysis
Figure 29 Total Corbion Pla: SWOT Analysis
Figure 30 Mitsubishi Chemical Corporation: Company Snapshot
Figure 31 Mitsubishi Chemical Corporation: SWOT Analysis
Figure 32 Biome Bioplastics: Company Snapshot
Figure 33 Biome Bioplastics: SWOT Analysis
Figure 34 Toray Industries: Company Snapshot

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Biodegradable Plastics Market

Biodegradable Plastics Market by Type (PLA, Starch Blends, Biodegradable Polyesters, PHA), End Use Industry (Packaging & Bags, Consumer Goods, Agriculture & Horticulture), and Region (APAC, Europe, North America, Rest of the World) - Global Forecast to 2023

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Growth opportunities and latent adjacency in Biodegradable Plastics Market

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