Pune India, Jan. 09, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the biobased biodegradable plastics market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the biobased biodegradable plastics market are present across various countries in the above-mentioned regions.
Get Sample Copy of This Report @ https://greyviews.com/reports/biobased-biodegradable-plastics-market/299/request-sample
The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the product type, application, and region. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.
The significant players operating in the global biobased biodegradable plastics market are BASF SE, Plantic Technologies, Toray Industries, Total Corbion PLA, Natureworks, Biome Bioplastics., Bio-On, Mitsubishi Chemical Corporation, Danimer Scientific, Novamont S.P.A. among other. To achieve a substantial market share in the worldwide biobased biodegradable plastics market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Biodegradable biobased plastic is produced from renewable resources like corn, potatoes, rice, soy, sugarcane, wheat, and vegetable oil. For instance, polyhydroxy butyrate (PHB) is produced through microbial synthesis, whereas biobased polyethylene (bioPE) is derived from sugar cane. Starch is used to create polylactic acid (PLA), a biodegradable biobased material. It also has the potential to reduce greenhouse gas emissions by up to 35%. Governments limiting the use of single-use plastic along with rising public awareness of the harmful effects of plastic waste are two major factors that are fueling industry expansion. The segment's growth is also anticipated to be supported by the expanding use of biodegradable plastics in packaging and agriculture. Plastics that don't degrade are a global issue. Governments all over the world are promoting the use of biodegradable plastics and restricting single-use plastics in an effort to solve this problem. People are also prepared to pay more for biodegradable plastics due to their eco-friendliness. The aforementioned factors working together are stimulating the market. Biodegradable polymers have severe limitations despite their environmental advantages. Separating regular plastics from biodegradable plastic is difficult because there is little difference between the two types of plastic. If biodegradable plastic is disposed of in place of conventional plastic, the decomposition process can become more difficult.
Enquiry Before Buying This Report @ https://greyviews.com/inquiry/299
Scope of Biobased Biodegradable Plastics Market Report
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Product Type, Application and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | BASF SE, Plantic Technologies, Toray Industries, Total Corbion PLA, Natureworks, Biome Bioplastics., Bio-On, Mitsubishi Chemical Corporation, Danimer Scientific, Novamont S.P.A. among other. |
Segmentation Analysis
The polyhydroxyalkanoate segment is expected to be the fastest-growing segment in 2022.
The product type segment is starch blends, polylactic acid, cellulose, polyester, polyhydroxyalkanoate, and others. The polyhydroxyalkanoate segment is expected to witness the highest growth rate during the forecast period. Because PHA is being used more frequently in medical and other applications, it is projected that the PHA market would expand. PHA is mostly used in healthcare applications including implantable medical devices and drug encapsulation. Other medical applications include bone plates, scaffolds for the bone marrow, and tissue engineering. Compost bags, agricultural foil, and films, as well as packaging for food, drink, and consumer items, are made using PHA. These components are anticipated to aid PHA's global expansion.
The packaging segment is expected to be the fastest-growing segment in 2022.
The application segment is packaging, healthcare, fibers, agriculture, and others. The packaging segment is expected to witness the highest growth rate during the forecast period. The packaging industry is one of the most well-known sectors to use biodegradable plastics. It is applied to both rigid and flexible packaging. As more and more traditional plastics are substituted in food packaging materials including boxes, wraps, cups, and plates, the market for biobased biodegradable plastics is growing.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the biobased biodegradable plastics market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
- The Europe region witnessed a major share. The transition to a low-carbon and circular economy improved governmental support for the economy, and raised consumer awareness of sustainable goods and packaging are driving the market's growth in Europe. The European Union's intention to reduce the region's overall consumption of thin plastic bags by about 80% compared to the consumption levels in 2010 is projected to have a significant positive impact on the producers of biodegradable plastics over the course of the next five years. Traditional end-user industries like packaging, agriculture, and textile are notably increasing their demand for biodegradable plastics. Particularly in European countries, the use of biodegradable plastics is growing in other specialized markets, such as medical implants and drug delivery systems.
Country Analysis
- Germany
Germany's biobased biodegradable plastics market size was valued at USD 0.013 billion in 2022 and is expected to reach USD 0.015 billion by 2030, at a CAGR of 2.5% from 2023 to 2030. Germany has promoted the use of certified bio-based and compostable biowaste plastic bags since 2015.
- China
China’s biobased biodegradable plastics market size was valued at USD 0.029 billion in 2022 and is expected to reach USD 0.040 billion by 2030, at a CAGR of 4.2% from 2023 to 2030. Due to increased disposable income and living standards in developing countries like China, the industry is anticipated to expand.
- India
India's biobased biodegradable plastics market size was valued at USD 0.025 billion in 2022 and is expected to reach USD 0.033 billion by 2030, at a CAGR of 3.6% from 2023 to 2030. The market expansion in this region is related to the rise in demand for biodegradable plastics because of growing environmental concerns and harsh regional prohibitions on petroleum-based plastics.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of the biobased biodegradable plastics market is mainly driven by the rising environmental concerns.
Buy Now Full Report @ https://greyviews.com/checkout/299/single_user_license
Contact Us
Rocky Shah
GreyViews
Pune India
Phone: (+44) 162-237-1047
Email: sales@greyviews.com
Browse Related Reports:
Pharmaceutical Packaging Equipment Market Size By Material (Glass and Plastic), By Product Type (Syringes, Bottles, Filling Machine, Tube, Vials and Ampoules, Caps and Closures, and Labels), Regions, Segmentation, and Projection till 2030
https://greyviews.com/reports/pharmaceutical-packaging-equipment-market/374
Paper Cups Market Size By Type (Hot Beverage Paper Cups and Cold Beverage Paper Cups), By Wall Type (Single-Walled and Double-Walled), By End-User (Commercial, Industrial, and Household), Regions, Segmentation, and Projection till 2030
https://greyviews.com/reports/paper-cups-market/359
Hair Texturizer Products Market Size By Source (Natural and Conventional), By Product Type (Dry Shampoo, Hair Cream, Hair Gel, Hair Mousse, Hair Pomade & Paste, Hair Spray, and Hair Protectant), Regions, Segmentation, and Projection till 2030
https://greyviews.com/reports/hair-texturizer-products-market/331
Rigid Plastic Packaging Market Size By Material (Polyethylene (PET), Polypropylene (PP), High-Density Polyethylene (HDPE), and Others), By Production Process (Extrusion, Injection Molding, Blow Molding, Thermoforming, and Others), By End-user (Food and Beverage, Personal Care, Household, Healthcare, and Others), and Regions, Segmentation, and Projection till 2030
https://greyviews.com/reports/rigid-plastic-packaging-market/329
Pre-treater laundry products Market Size By Product (Liquid, Powder, and Gel), By Application (Household and Industrial), Regions, Segmentation, and Projection till 2030
https://greyviews.com/reports/pre-treater-laundry-products-market/323
Brush & Dauber Caps Market Size By Cap Material Type (Metal, Aluminum, Stainless Steel, Tin Plate, Plastic, Polyethylene Terephthalate, Polypropylene, and Polyvinyl Chloride), By Dauber Material Type (Cotton, Nylon, Natural filament, and Others), By End-User (Pharmaceuticals, Personal Care & Cosmetics, Automotive, and Others) Regions, Segmentation, and Projection till 2030
https://greyviews.com/reports/brush-dauber-caps-market/317
Nail Care Products Market Size By Product (Artificial Nails & Accessories and Nail Polish), By End-User (Household and Salon), Regions, Segmentation, and Projection till 2030
https://greyviews.com/reports/nail-care-products-market/311
Bottled Water Market Size By Product (Spring Water, Purified Water, Mineral Water, and Others), By Distribution Channel (Off-Trade and On-Trade), Regions, Segmentation, and forecast till 2030
https://greyviews.com/reports/bottled-water-market/305
Biobased Biodegradable Plastics Market Size By Product Type (Starch Blends, Polylactic Acid, Cellulose, Polyester, Polyhydroxyalkamoate, and Others), By Application (Packaging, Healthcare, Fibers, Agriculture, and Others), Regions, Segmentation, and Projection till 2030
https://greyviews.com/reports/biobased-biodegradable-plastics-market/299
Waxing Base Paper Market Size By Thickness (8 to 20 GSM, Up to 8 GSM, 30 to 60 GSM and More Than 50 GSM), By Type (Wet Wax and Dry Wax), By Application (Packing and Printing), Regions, Segmentation, and Projection till 2030
https://greyviews.com/reports/waxing-base-paper-market/290
