Jersey City, NJ, May 31, 2023 (GLOBE NEWSWIRE) -- The Global Compostable Biopolymers Market is estimated to exhibit a CAGR of 14.72% during the forecast period.
Compostable Biopolymers are made in part from biomass, such as corn, sugarcane, or cellulose. Biodegradable bioplastics can be easily broken down into biomass by bacteria and enzymes. When compared to standard plastics, these degrade naturally at a faster rate, reducing the environmental impact. Polymers and plastics are commonly used in coating and packaging applications.
Around 80% of polymeric materials are produced in the petroleum industry, which uses non-renewable energy sources. The growing usage of plastics is causing concern for the environment due to rising carbon emissions from ozone-depleting chemical discharges, as well as other problems such as soil and groundwater contamination. As a result, there is a rising need for climate-friendly alternatives. The growing emphasis on practical improvement is expected to pave the way for bio-based plastics and polymers in the not-too-distant future. Biopolymers are polymers that degrade when exposed to wetness and intensity, such as when small animals are active.
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Recent Developments:
- In November 2022, NatureWorks LLC, the world's leading producer of low-carbon PLA biopolymers derived from renewable resources, chose TTCL Public Co. Ltd. as the general contractor for its new Ingeo PLA production complex in Thailand. The new factory will be completely integrated and manufacture lactic acid, lactide, and polymers.
List of Prominent Players in the Compostable Biopolymers Market:
- NatureWorks LLC
- BASF SE
- Total Corbion PLA
- Biome Bioplastics
- FKuR Kunstsoff GmbH
- Novamont S.p.A.
- Green Dot Bioplastics
- TIPA
- Cardia Bioplastics
- Danimer Scientific.
Compostable Biopolymers Market Report Scope:
| Report Attribute | Specifications |
| Growth rate CAGR | CAGR of 14.72 % from 2023 to 2031 |
| Quantitative units | Representation of revenue in US$ Billion and CAGR from 2023 to 2031 |
| Historic Year | 2019 to 2022 |
| Forecast Year | 2023-2031 |
| Report coverage | The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
| Segments covered | Type of Product And Application |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
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Market Dynamics:
Drivers-
Population growth, urbanization, and rising consumer living standards all contribute to the expansion of the global bioplastics and biopolymers market. Greater applicability has been noticed in the healthcare, packaging, consumer products, and automotive industries. Consumers worldwide are becoming more conscious of the significance of using sustainable and ecologically friendly products. Governments all across the world are launching initiatives and programs to manage plastic waste.
To reduce packaging waste and promote circular economies, regions such as North America and Europe have implemented legislation and targets requiring the use of bio-based and biodegradable plastic. Significant expansion in e-commerce, particularly during the epidemic, has raised industry demand. Increased smartphone adoption, increased internet connectivity, and the ease of online shopping provided by e-commerce platforms have all contributed to this trend.
Challenges:
One important impediment is the high cost of biodegradable biopolymers in comparison to traditional plastics. Compostable biopolymers are still in their infancy, and the manufacturing process is costly. This makes them less price competitive, which may limit their market uptake. Another barrier is a lack of composting facilities. Compostable biopolymers break down under certain conditions, such as high temperature and humidity, which are not always present. This may limit their use in areas where composting facilities are unavailable.
Regional Trends:
Europe's Compostable Biopolymers Market is expected to register a substantial market share and is projected to grow at an elevated CAGR in the near future. Compostable biopolymers market expansion in these regions may be due to rising demand for sustainable packaging materials as well as increased government initiatives to reduce plastic waste. The region's growing use of bioplastics and biopolymers in sectors such as automotive, packaging, and consumer products is likely to drive market expansion. Furthermore, increased environmental concerns, as well as the implementation of strict environmental regulations, are boosting demand for bio-based and biodegradable products.
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Segmentation of Compostable Biopolymers Market-
By Material Type-
- Polybutylene Adipate Terephthalate
- Polybutylene Succinate
- Polylactic Acid
- Polyhydroalkanoate
- Starch Blends
- Cellulose Films
- Others
By Degree of Compostability-
- Home Compostable
- Industrial Compostable
By Sales Channel-
- Direct Sales
- Online Sales
- Distributors
By End-Use
- Food Packaging
- Disposable Cutlery
- Bags
- Mulch Films
- Agricultural Applications
- Others
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
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