Bio-Degradable Polymers Market 2023 – 2032 | Demand, Overview, Growth, Size, and Forecast
The market for bio-degradable polymers is anticipated to register a CAGR of over 22.5% during the forecast period 2023 – 2032.
Bio-degradable polymers are advantageous over non-bio-degradable polymers as they are less toxic, have lesser side effects, help to improve patient compliance, and maintains the stabilization of the drug. Bio-degradable plastics are increasingly finding usage in niche applications, such as in shale gas industry (where they are used during hydro-fracking), hygiene products, and in fishing gears, among other applications, these are projected to act as an opportunity for the market in future.
The Bio-Degradable Polymers Market report gives in-depth assessment of the market status, prosperity rate, future trends, market drivers, revenue channels and distributors with Porter’s Five Forces Analysis. The Bio-Degradable Polymers market report also covers all market shares and strategies of the most important competitors or key players in the market. This latest report on Bio-Degradable Polymers market also identifies huge trends and factors that are influencing or restraining the growth of the market. It also covers statistical overview on overall future prospects, demand scope, latest technological advancements and opportunities-challenges of top key players.
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Bio-Degradable Polymers Market involves the Major Key Players:
Cardia Bioplastics, Merck KGaA, UNITIKA LTD., Mitsubishi Chemical Holdings Corporation, BASF SE, Novamont SpA, TEIJIN LIMITED, Braskem SA, NatureWorks LLC, Eastman Chemical Company, Evonik Industries AG, Rodenburg Biopolymers, BIOTEC, Total Corbion PLA bv, Plantic Technologies Ltd., Toray Industries Inc., Arkema SA, Koninklijke DSM NV, DuPont de Nemours Inc., FKuR Kunststoff GmbH and others.
Industry News and Updates:
September 29, 2021: BASF and WPO Polymers cooperate to distribute biopolymer ecovio® for certified compostable bags in Spain and Portugal
As part of its growth strategy for its biopolymers business, BASF will cooperate with WPO Polymers to further advance on the fast developing Spanish and Portuguese markets: The plastics solutions provider will act as distributor of BASF‘s ecovio® film product range for certified compostable shopping bags, organic waste bags as well as fruit and vegetable bags in Spain and Portugal. Building on their respective strengths, BASF and its new partner will be better positioned to accelerate business on this important market and to support food companies and retailers to comply with the Spanish Royal decree 293/2018 on the reduction of plastic bags including the mandatory usage of compostable bags (<50 µm thickness) certified according to EN 13432.
Market Overview:
Consumer demand for sustainable and eco-friendly packaging is growing, causing major plastics manufacturers and package vendors to shift their focus toward biodegradable polymers. Vendors are being forced to concentrate on producing biodegradable polymers and marketing goods with sustainable components in the international market by the necessity to comply with government rules. This is fueling the market for biodegradable polymers, assisting vendors in realising their sustainability initiatives, and enabling green branding of their goods.
Key Trends:
The global market for biodegradable polymers will see considerable potential in the consumer products and packaging industries as the focus on sustainability grows and supportive government rules for green procurement arise. Additionally, during the projected period, there will be significant growth in demand for biodegradable mulch films, compostable waste bags, catering goods, film packaging, and rigid packaging.
Regional Analysis:
In Asia-Pacific, China is the largest economy, in terms of GDP. The country witnessed about 6.1% growth in its GDP during 2019, even after the trade disturbance caused due to its trade war with the United States. Although China was the first country affected by the COVID-19 and its related lockdown, it was the first country to come out of lockdown, but the country has been witnessing recurring cases of coronavirus, leading to further lockdowns. With this, manufacturing seems to be heavily impacted and is expected to continue with slow growth during 2020. Moreover, a major chunk of the Chinese economy is linked to foreign exports, where demand is still low due to lockdowns being practiced in various countries due to the COVID-19 outbreak. This has been negatively affecting the Chinese industry in 2020.
The Types of the global Bio-Degradable Polymers market:
PLA
Starch Blends
Biodegradable Polyesters
PHA
Others
The Application of the global Bio-Degradable Polymers market:
Packaging & Bags
Consumer Goods
Agriculture & Horticulture
Textile
Healthcare
Others
Regional Analysis for Global Bio-Degradable Polymers Market:
– APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
– Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
– North America (U.S., Canada, and Mexico)
– South America (Brazil, Chile, Argentina, Rest of South America)
– MEA (Saudi Arabia, UAE, South Africa)
Russia-Ukraine War Impact 2023: Economic Sanctions Imposed by the United States & its Allies on the Russian Federation Negatively Affected the market.
“The economic sanctions imposed by the U.S. and its allies on the Russian Federation are expected to affect this industry’s growth. Furthermore, the war negatively affected the global industries leading to import and export flow disruptions. The dominance of Russia and roscosmos, a quasi-civilian space agency in the commercial space, affected alternative launch service providers in India, Japan, Europe, and the U.S. These factors negatively affected the market during the war.”
Key Findings of the Reports:
– A complete section of the Bio-Degradable Polymers market report is dedicated for market dynamics, which include influence factors, market drivers, challenges, opportunities, and trends.
– Another broad section of the research study is reserved for regional analysis of the Bio-Degradable Polymers market where important regions and countries are assessed for their growth potential, consumption, market share, and other vital factors indicating their market growth.
– Players can use the competitive analysis provided in the report to build new strategies or fine-tune their existing ones to rise above market challenges and increase their share of the Bio-Degradable Polymers market.
– The report also discusses competitive situation and trends and sheds light on company expansions and merger and acquisition taking place in the Bio-Degradable Polymers market. Moreover, it brings to light the market concentration rate and market shares of top three and five players.
– Readers are provided with findings and conclusion of the research study provided in the Bio-Degradable Polymers Market report.
This recent analysis gives exclusive information on developing trends, drivers, fresher opportunities, and constraints that can influence the growth of the world Bio-Degradable Polymers market. Furthermore, the report is accountable for tracking the market size of the global industry and also examines important patterns that are used by the worldwide vendors. It even appraises the size of the respective industry in terms of revenue for the projected timeframe between 2023 to 2029. All the statistics mentioned in the market are evaluated using verified sources.
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Significant features of the global Bio-Degradable Polymers market report:
– A deep inspection of the Bio-Degradable Polymers industry is given in the document.
– Explains the industry dynamics of the international market.
– The report highlights the Bio-Degradable Polymers market segmentation globally.
– Describing historical, recent, and estimated industry size in terms of value and volume.
– Current industry trends and development techniques are explained widely.
– It evaluates the competitive landscape of the global Bio-Degradable Polymers market.
– Strategic analysis of the market vendors and product offerings are mentioned in the study.
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