Biodegradable Plastics Market Report, Overview, Size, Trends, Growth 2029

[Akash Ra]

The market for biodegradable plastics was valued at US$ 2.63 billion in 2021, and during the forecast period, it is anticipated to rise at a CAGR of 15.1% to reach US$ 8.10 billion by 2029.

Biodegradable Plastics Market Overview:

The goal of this research is to give a comprehensive overview of the Biodegradable Plastics market by segment, industry, and geography. The research includes thorough information on the primary elements impacting the Biodegradable Plastics industry's growth. The research also includes an in-depth evaluation of the market's value chain.

Market Scope:

The primary step in the research process used to assess and forecast the Biodegradable Plastics market is the gathering of revenue information from significant suppliers. When creating market segmentation, vendor offers are also taken into consideration. The market size for Biodegradable Plastics was estimated using the bottom-up method using the revenue of large companies.

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Segmentation:

Based on type, the market is anticipated to develop at a 10.4% CAGR during the forecast period, with the starch-based segment dominating the market. Plastics made from starch are frequently employed in consumer goods sectors like transportation, agriculture, and packaging. Additionally, starch-based polymers are employed as an alternative to petroleum-based ones since they are extremely biodegradable and help reduce carbon emissions. The price of PLA is comparatively affordable to other types of plastic, which is a major driver in its rapid rise, particularly in the European region.

Key Players:

• NatureWorks
• BASF
• Total Corbion PLA
• Mitsubishi Chemical
• Biome Bioplastics
• Plantic Technologies
• Bio-On
• Danimer Scientific
• Novamont S.p.A
• Toray Industries
• DowDuPont Inc
• Eastman Chemical Company
• Mondi PLC
• Amcor Limited
• Kruger Inc.
• Tetra Pak International SA
• Plastic Suppliers Inc.
• Stora Enso
• WestRock
• Archer Daniels Midland
• Perstorp, K.D
• FEDDERSEN
• UrthPact, LLC
• Indochine Bio Plastiques (ICBP) Sdn. Bhd.

The major players covered in the Biodegradable Plastics market report are

Regional Analysis:

For the Biodegradable Plastics market analysis for the global industry, a research team conducted thorough primary and secondary research. Secondary research has been carried out to enhance the information already accessible, segment the market, determine the total market size, forecast the market size, and determine the growth rate. Different methods for determining market size and growth rate have been developed. In order to present a more accurate regional view, our staff gathers market information and statistics from a variety of sources. By looking at a variety of regional players, local tax laws and regulations, consumer behaviour, and macroeconomic data, the research's country-level analysis is generated.

Separate market share data is provided for North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. Analysts should maximize their competitive strengths and do competitive analysis on each rival independently.

COVID-19 Impact Analysis on Biodegradable Plastics Market:

The Biodegradable Plastics market research also includes a complete assessment of COVID-19's influence on the Biodegradable Plastics market based on import, suppliers, and market players.

Key Questions Answered in the Biodegradable Plastics Market Report are:

• Which segment was responsible for the largest share in the Biodegradable Plastics market?
• How was the competitive scenario of the Biodegradable Plastics market in 2020?
• Which are the key factors responsible for the Biodegradable Plastics market growth?
• Which region held the maximum share in the Biodegradable Plastics market in 2020?

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