The biodegradable plastics market is projected to reach USD 12.4 billion by 2027, at a CAGR of 15.1%.
The report “Biodegradable Plastics Market by Type (PLA, Starch Blends, Biodegradable Polyesters, PHA), End-use Industry (Packaging & Bags, Consumer Goods, Agriculture & Horticulture), and Region (APAC, Europe, North America, Row) – Global Forecast to 2027”.
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Based on Application:
- Packaging & Bags
- Consumer Goods
- Agriculture & Horticulture
- Textile
- Others (Automotive and Building & Construction)
Major Players:
- NatureWorks (US)
- BASF (Germany)
- Total Corbion PLA (Netherlands)
- Mitsubishi Chemical (Japan)
- Biome Bioplastics (UK)
- Plantic Technologies (Australia)
- Bio-On (Italy)
- Danimer Scientific (Georgia)
- Novamont S.p.A (Italy)
- Toray Industries (Japan)
On the basis of end-use industry, the packaging & bag segment is estimated to lead the biodegradable plastics market during the forecast period.
Packaging & bags is the largest end-use industry of biodegradable plastics. Thermoset plastics (soy polyurethanes and unsaturated polyester resins) and thermoplastics (PLA, starch blends, PBS, PHA, and cellulose) are the two types of biodegradable plastics mainly used in the packaging industry. Packaging products made from these plastics are mainly used in the packaging of fresh food, dried snacks & candy, bakery goods, water & juice bottles, and meat trays. Biodegradable plastics are also used as coatings for beverages cups and films & card stock.
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Increasing use of PLA in the packaging & bags and consumer goods industry is projected to lead the biodegradable plastics market during the forecast period.
PLA is the largest type segment of the biodegradable plastics market, as it is used in various end-use industries such as packaging & bags and consumer goods. PLA is made from renewable resources, and it is compostable as well as biodegradable. It is derived from corn starch (in the US and Canada), tapioca roots, chips, or starch (mostly in Asia), or sugarcane (in RoW). This makes PLA non-toxic and an environmentally friendly material. Plastic products may take up to thousand years to degrade while PLA products biodegrade within 3–6 months in an industrial composting system.
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