Biodegradable Plastics Market by Type, Application

Description

List of Tables

[186 Pages Report] The Biodegradable Plastics Market size was estimated at USD 7.38 billion in 2023 and expected to reach USD 8.31 billion in 2024, at a CAGR 12.60% to reach USD 16.96 billion by 2030.

Biodegradable plastics are environmentally friendly materials designed to break down efficiently and safely under natural conditions, leading to their disintegration into harmless byproducts. These materials are engineered to undergo degradation processes facilitated by various biological agents, such as microorganisms, fungi, and algae. The production of biodegradable plastics involves using renewable resources, such as starches derived from corn or potatoes, cellulose extracted from plants, and organic polymers synthesized by bacteria. The stringent government regulations on single-use plastics disposal and increasing public awareness about environmental conservation can increase the adoption of biodegradable plastics. However, higher production costs of bio-based materials than traditional petroleum-based plastics deter widespread adoption. Nevertheless, technological advancements leading to new product development using bio-based raw materials, including polylactic acid (PLA) or polyhydroxyalkanoate (PHA), and the increasing demand for biodegradable plastics in niche applications such as 3D printing materials, biomedical devices, and marine pollution control solutions creates significant opportunities for the biodegradable plastic industry.

KEY MARKET STATISTICS
Base Year [2023]	USD 7.38 billion
Estimated Year [2024]	USD 8.31 billion
Forecast Year [2030]	USD 16.96 billion
CAGR (%)	12.60%

Type: Burgeoning adoption of polyhydroxyalkanoates (PHA) in medical implants and devices due to its biocompatibility

Polybutylene Adipate Terephthalate (PBAT) is a copolyester with high flexibility and toughness, ideal for applications such as agricultural films and packaging materials. Polybutylene Succinate (PBS) exhibits high heat resistance and mechanical properties, making it suitable for disposable cutlery, food containers, and agricultural mulch films. Polyhydroxyalkanoates (PHA) are naturally occurring polymers produced by bacteria as an energy storage material. They are biocompatible and have applications in medical devices, implants, and packaging materials. Polylactic Acid (PLA) is obtained from renewable resources such as corn starch and sugarcane. It has various applications, including food packaging, disposable tableware, and textiles. Starch-based biodegradable plastics blend natural starch with biopolymers such as Polylactic Acid (PLA). They are widely used for single-use items due to their low cost and high biodegradation rates.

Applications: Proliferating adoption of biodegradable plastic that reduces labor costs and improves soil quality in the agricultural sector

In agriculture, biodegradable plastics are used for mulching films, seedling trays, and controlled-release fertilizers. These bioplastics can be plowed back into the soil after use, reducing labor costs and improving soil quality. Biodegradable plastics are alternatives to conventional petroleum-based plastics in injection molding applications due to their eco-friendly properties. In the packaging industry, the utilization of biodegradable plastics is increasing due to rising consumer awareness about sustainable packaging solutions and governmental regulations against single-use plastics. Biodegradable packaging materials such as polylactic acid (PLA), polyhydroxyalkanoates (PHA), and starch blends are used in food packaging, disposable tableware, and retail bags. In the textile industry, biodegradable plastics are used as substitutes for synthetic fibers, including polyester and nylon to reduce microfiber pollution and lower carbon emissions during production.

Regional Insights

In America, factors such as supportive governmental policies for reducing single-use plastics, increased consumer awareness about plastic waste, and growing interest in environmentally friendly packaging solutions are driving the market growth. The European Union's stringent regulations on plastic waste management have significantly contributed to the development and adoption of biodegradable plastic. In addition, several manufacturing industries adopt sustainable materials in their production, supporting the penetration of biodegradable plastic.

Rapid urbanization and industrialization, coupled with increased environmental concerns, are driving this growth, particularly in countries such as China, India, Japan, and South Korea. In addition to that, several market players are focusing on R&D, and the introduction of innovative biodegradable plastic are propelling the adoption of biodegradable plastics in this region.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Biodegradable Plastics Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Biodegradable Plastics Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Biodegradable Plastics Market, highlighting leading vendors and their innovative profiles. These include Arkema SA, ARMANDO ALVAREZ, S.A., BASF SE, Bewi Group, Bio-on S.p.A., Biome Bioplastics Limited, BioPak Pty Ltd by Duni AB, Braskem SA, CHUKOH CHEMICAL INDUSTRIES, LTD., Clondalkin Group Holdings B.V., Coperion GmbH, Danimer Scientific, European Bioplastics e.V, Green Dot Bioplastics Inc., Kuraray Co., Ltd., Mitsubishi Chemical Corporation, NatureWorks LLC, Novamont SpA, Plantic Technologies Ltd., Shimadzu Corporation, SpecialChem S.A., TianAn Biologic Materials Co., Ltd., Tianjin Greenbio Materials Co., Ltd., Toray Industries Inc., and Total Corbion PLA.

Market Segmentation & Coverage

This research report categorizes the Biodegradable Plastics Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- PBAT
- PBS
- PHA
- PLA
- Starch Based

Application
- Agriculture
- Injection Molding
- Packaging
- Textile

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Biodegradable Plastics Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Biodegradable Plastics Market?

3. What are the technology trends and regulatory frameworks in the Biodegradable Plastics Market?

4. What is the market share of the leading vendors in the Biodegradable Plastics Market?

5. Which modes and strategic moves are suitable for entering the Biodegradable Plastics Market?

Product Code: MRR-437D459577ED

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing use of Bioplastics in the Packaging due to Biodegradability
  - 5.1.1.2. Increasing Concerns Linked with Environment and Human Health
  - 5.1.1.3. Growing Regulations across Globe and Focus on Bio-Content
- 5.1.2. Restraints
  - 5.1.2.1. High Cost of Bioplastics
  - 5.1.2.2. Performance Limitations of Bioplastics
- 5.1.3. Opportunities
  - 5.1.3.1. Shifting the Focus Away from Petroleum Resources and Increasing R&D Investment
  - 5.1.3.2. Increasing Application Areas of Bioplastics in Healthcare and Others
  - 5.1.3.3. Necessity for Sustainable Solutions has Encompassed Several Industries, including Food & Beverages, E-Commerce, and FMCG
- 5.1.4. Challenges
  - 5.1.4.1. Segregation and Processing of Bioplastics
5.2. Market Segmentation Analysis
- 5.2.1. Type: Burgeoning adoption of polyhydroxyalkanoates (PHA) in medical implants and devices due to its biocompatibility
- 5.2.2. Applications: Proliferating adoption of biodegradable plastic that reduces labor costs and improves soil quality in the agricultural sector
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Biodegradable Plastics Market, by Type

6.1. Introduction
6.2. PBAT
6.3. PBS
6.4. PHA
6.5. PLA
6.6. Starch Based

7. Biodegradable Plastics Market, by Application

7.1. Introduction
7.2. Agriculture
7.3. Injection Molding
7.4. Packaging
7.5. Textile

8. Americas Biodegradable Plastics Market

8.1. Introduction
8.2. Argentina
8.3. Brazil
8.4. Canada
8.5. Mexico
8.6. United States

9. Asia-Pacific Biodegradable Plastics Market

9.1. Introduction
9.2. Australia
9.3. China
9.4. India
9.5. Indonesia
9.6. Japan
9.7. Malaysia
9.8. Philippines
9.9. Singapore
9.10. South Korea
9.11. Taiwan
9.12. Thailand
9.13. Vietnam

10. Europe, Middle East & Africa Biodegradable Plastics Market

10.1. Introduction
10.2. Denmark
10.3. Egypt
10.4. Finland
10.5. France
10.6. Germany
10.7. Israel
10.8. Italy
10.9. Netherlands
10.10. Nigeria
10.11. Norway
10.12. Poland
10.13. Qatar
10.14. Russia
10.15. Saudi Arabia
10.16. South Africa
10.17. Spain
10.18. Sweden
10.19. Switzerland
10.20. Turkey
10.21. United Arab Emirates
10.22. United Kingdom

11. Competitive Landscape

11.1. Market Share Analysis, 2023
11.2. FPNV Positioning Matrix, 2023
11.3. Competitive Scenario Analysis
- 11.3.1. LOTTE Chemical and Polymateria Ltd Partner to Develop Biodegradable Plastics
- 11.3.2. Tricorbraun partners with BioBottles to supply biodegradable plastics
- 11.3.3. AGI launches AGI Cares 2028 with biodegradable plastics
11.4. Strategy Analysis & Recommendation

12. Competitive Portfolio

12.1. Key Company Profiles
12.2. Key Product Portfolio