London, UK, March 25, 2019 (GLOBE NEWSWIRE) -- Market Definition:
• Biodegradable plastics are plastics made from traditional petrochemicals or with certain renewable resources.
• Biodegradable plastics are of two types namely; oxo-biodegradable and hydro-biodegradable.
• These plastics contain additives that cause them to break down more quickly compared to the conventional plastics and be decomposed by the action of living organisms, such as bacteria.
• Its ability to decay rapidly in the presence of light and oxygen makes it more environment friendly.
Market Overview and Trends
• With advancements in the technology and increasing population, the use of plastics has widely increased in various industries.
• The traditional or conventional plastic material are non-biodegradable and pose harmful effects on environment.
• This encouraged development of biodegradable plastics as an effective alternative for the traditional practices.
• Though these plastic materials are widely accepted, number of disputes were created regarding the betterment of these products.
• In 2014, some associates of the European Parliament tried to bring a complete ban on oxydegradable plastics in the European Union.
• Such actions resulted in more detailed study of the biodegradable plastics to confirm their affectivity.
• Not all types of biodegradable plastic can break down completely under soil or water conditions, however researchers say that if managed carefully, the biodegradable plastic blends are expected to create new possibilities for handling plastic waste.
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Factors Influencing the Market Growth:
• Globally, governments are prohibiting use of plastic based products and compelling people to use alternative products that would be less harmful to the environment.
• Governments are also taking waste management initiatives that focus on enhancing the use of bio-based products.
• Based on this, consumer preference is also changing and shifting towards eco-friendly products.
• Growing packaging and agriculture industry is also highly contributing to the growth of this market.
• Growing research and development to improve the properties of these products and technological advancements are some of the additional factors propelling the growth of biodegradable plastics market during the forecast period.
Factors Restraining the Market Growth:
• High cost of biodegradable plastics
• Concerns with affectivity of biodegradable plastics products
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Market Segmentation 2019-2029:
• Starch Blends Market, 2019-2029
• PLA Market, 2019-2029
• PHA Market, 2019-2029
• Biodegradable Polymers Market, 2019-2029
• Others Market, 2019-2029
• PCL Market, 2019-2029
• PBAT Market, 2019-2029
• PBS Market, 2019-2029
• Packaging Market, 2019-2029
• Agriculture Market, 2019-2029
• Consumer Goods Market, 2019-2029
• Textile Market, 2019-2029
• Others Market, 2019-2029
Focused regional forecasts and analysis explore the future opportunities:
• North America Market, 2019-2029
• Europe Market, 2019-2029
• Asia-Pacific Market, 2019-2029
• LAMEA Market, 2019-2029
• The companies operating in the biodegradable plastics market mainly focus on research and development and product launches as their primary growth strategies.
• Key players also collaborate with government organizations to conduct research studies and develop innovative products that would enhance their product offerings.
• Companies also adopt strategic collaborations and partnerships to improve their market presence.
• In January 2019, Nestle partnered with Danimer Scientific to develop biodegradable water bottle. Such development enables companies to gain significant market share in the global market.
Major Market Players:
NatureWorks, Braskem, Biome Bioplastics, Bio-On, Novamont, BASF, Total Corbion PLA, Toray Industries, Plantic Technologies, and Mitsubishi Chemical Corporation.
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Companies covered in the report include:
Be Green Packaging
Green Dot Bioplastics
Mitsubishi Chemical Corporation
Total Corbion PLA
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