Total Corbion (Netherlands) and Biome Bioplastics (UK) are Leading Players in the Biodegradable Plastics Market
The biodegradable plastic market is expected to grow at a CAGR of 21.3% to reach USD 20.9 billion by 2028 from USD 7.9 billion in 2023. The market growth is driven by various factors, including the significant demand from end-use industries such as packaging, consumer goods, agriculture & horticulture, and textiles.
The key global players in the biodegradable plastic market, such as BASF (Germany), NatureWorks (US), Total Corbion (Netherlands), Novamont (Italy), Biome Bioplastics (UK), Mitsubishi Chemical Holding Corporation (Japan), Toray Industries (Japan), Plantic Technologies (Australia), Danimer Scientific (US), and Fkur Kunstsoff (Germany) have a strong foothold in their respective regions and are exploring geographic diversification options to expand their businesses. They are focusing on increasing their market shares through new product launches and expansions.
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TOTAL CORBION
Total Corbion is a global leader in the PLA and lactide monomers market. The company was established as a 50/50 joint venture between Total (France) and Corbion (Netherlands) in March 2017.
Total Corbion has the production facility for PLA bioplastic with an annual production capacity of 75,000 tons in Rayong, Thailand. The company offers PLA biodegradable plastic, which is a bio-based and biodegradable polymer produced from renewable sources. It offers PLA, which serves a wide range of industries, including packaging, automotive, consumer goods, and textile. The company has a strong presence in the European market for the manufacturing and sales of PLA.
BIOME BIOPLASTICS
Biome Bioplastics is a wholly owned subsidiary of Biome Technologies PLC. The Group comprises two divisions, Biome Bioplastics Limited and Stanelco RF Technologies Limited. Biome Bioplastics is a leading manufacturer and marketer of biodegradable plastics. The company plans to produce biodegradable plastics, which challenge the use of oil-based plastics. The company offers a wide range of high-performance biodegradable plastics made from renewable natural resources, which have applications in plastic processing, including sheet extrusion for thermoforming and vacuum forming, injection molding, blow film, lamination, extrusion coating, and monofilaments.
The company provides bioplastics for extrusion coating under its high-temperature and coating product segment. It is primarily engaged in the development and commercialization of bioplastics. It supplies biodegradable natural polymer application in the packaging, electronics, automotive, food service, cosmetics, and industrial manufacturing sectors with a precise extrusion coating application in the food service and packaging sectors.
Related Reports:
Biodegradable Plastics Market by Type (PLA, Starch Blends, PHA, Biodegradable Polyesters), End Use Industry (Packaging, Consumer Goods, Textile, Agriculture & Horticulture), and Region( APAC, Europe, NA, South America, MEA) - Global Forecast to 2028
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