Dublin, Oct. 09, 2023 (GLOBE NEWSWIRE) -- The "Starch Blended Biodegradable Polymer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global starch blended biodegradable polymer market has attained a substantial milestone, reaching a market size of US$1,029 million in 2022. This robust growth is expected to continue as the market is projected to expand to US$1,527 million by 2028, showcasing a remarkable compound annual growth rate (CAGR) of 6.7% during the forecast period of 2023-2028.
The remarkable ascent of this market is fueled by several key factors. Firstly, the utilization of starch as a filler in polymers to enhance biodegradability in polymer-based products has witnessed significant adoption. Secondly, there is a growing consumer interest in renewable feedstock and biopolymers, driven by a global shift towards sustainability. Lastly, the widespread utilization of starch blended biodegradable polymers in the food packaging industry further propels market growth.
A starch blended biodegradable polymer combines the natural and renewable properties of starch with the versatility of synthetic polymers. These blends provide a sustainable alternative to traditional plastic materials, boasting improved biodegradability and reduced environmental impact. Starch reinforces the polymer structure, enhancing mechanical properties and rendering the material biocompatible, biodegradable, and environmentally friendly. Moreover, starch blended polymers can be processed using conventional techniques such as extrusion and injection molding, making them adaptable for various applications. Their biodegradability allows for safe disposal in natural environments, contributing to reducing plastic waste and promoting a sustainable future.
The global market is primarily driven by stringent regulations on plastic waste management and growing consumer demand for eco-friendly products. Consumers, increasingly aware of plastic pollution's environmental impact, actively seek greener alternatives. Starch blended polymers, meeting this demand with biodegradable and compostable options, are gaining traction in packaging, disposable products, and other applications.
Advancements in research and technology have expanded the potential applications of starch blended biodegradable polymers across various industries, including packaging, agriculture, textiles, and automotive. These innovations allow manufacturers to tailor material characteristics to meet specific requirements, further boosting market growth.
Starch Blended Biodegradable Polymer Market Trends and Drivers
- Increasing Government Initiatives and Support: Governments worldwide have implemented policies and regulations to encourage sustainable alternatives to plastic. Initiatives include incentives, subsidies, and tax benefits, fostering the adoption of starch blended biodegradable polymers.
- Growing Consumer Awareness and Preference for Sustainability: Consumers seek eco-friendly products that minimize pollution and promote a greener lifestyle. Awareness campaigns on platforms like social media have amplified the demand for starch blended biodegradable polymers.
- Rapid Advancements in Manufacturing Technology: Ongoing research and development efforts have led to efficient and cost-effective production techniques, enhancing the material's properties and applicability across industries.
Starch Blended Biodegradable Polymer Industry Segmentation
Polymer Type:
- Biodegradable Starch
- Durable Starch
Biodegradable starch dominates the market, driven by its exceptional biodegradability and versatile applications in packaging, disposable cutlery, agricultural films, and more.
End Use:
- Flexible Packaging
- Agriculture and Horticulture
- Rigid Packaging
- Consumer Goods
- Others
Flexible packaging leads the market, favored for its versatility, lightweight nature, and eco-friendly attributes.
Region:
- Western Europe
- North America
- Asia Pacific
- Others
Western Europe dominates the market due to strong environmental awareness and sustainability initiatives.
Competitive Landscape
Top companies in the starch blended biodegradable polymer industry invest heavily in research and development, product improvement, strategic partnerships, and global distribution to meet market demands. Key players include Novamont S.p.A., Rodenberg, Wuhan Huali, Nihon Cornstarch Corporation, Plantic Technologies, DuPont, BASF, Lactel Absorbable Polymers, Balson Industries, and Tryeco.
Recent Developments
- Novamont partnered with Saes Group to develop innovative solutions with lower environmental impact and high functional performance.
- Plantic Technologies launched Renewably Sourced and Recyclable Plantic eco Plastic R.
- DuPont acquired Desalitech Ltd., enhancing its commitment to sustainability.
Key Questions Addressed in the Report
- Market size for the global starch blended biodegradable polymer market.
- Global market drivers for starch blended biodegradable polymers.
- Key industry trends in the global starch blended biodegradable polymer market.
- Impact of COVID-19 on the global starch blended biodegradable polymer market.
- Global starch blended biodegradable polymer market segmentation by end-use.
- Major regions in the global starch blended biodegradable polymer market.
- Key companies/players in the global starch blended biodegradable polymer market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 145 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $1029 Million |
| Forecasted Market Value (USD) by 2028 | $1527 Million |
| Compound Annual Growth Rate | 6.8% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/f8nq3x
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
