PUBLISHER: The Business Research Company | PRODUCT CODE: 1596997
PUBLISHER: The Business Research Company | PRODUCT CODE: 1596997
Biodegradable polymers are a type of polymer that can be broken down by microorganisms into water, carbon dioxide (or methane), and biomass. Unlike traditional plastics, these polymers degrade through natural processes within a relatively short period, making them an environmentally friendly alternative. Biodegradable polymers can either be sourced from renewable materials (such as plants) or synthesized from petrochemicals with properties that allow for biodegradation. They are widely used in various sectors, including packaging, agriculture, medical applications, and more.
The primary types of biodegradable polymers include starch-based polymers, polylactic acid (PLA), polyhydroxyalkanoates (PHA), polyesters (PBS, PBAT, and PCL), and cellulose derivatives. Starch-based biodegradable polymers are derived from natural starch sources such as corn, potatoes, or wheat. These polymers are used in substrates such as paper, paperboard, cellulose films, and more, with applications spanning agriculture, textiles, consumer goods, packaging, healthcare, and other industries.
The biodegradable polymers market research report is one of a series of new reports from The Business Research Company that provides biodegradable polymers market statistics, including biodegradable polymers industry global market size, regional shares, competitors with a biodegradable polymers market share, detailed biodegradable polymers market segments, market trends and opportunities, and any further data you may need to thrive in the biodegradable polymers industry. This biodegradable polymers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The biodegradable polymers market size has grown rapidly in recent years. It will grow from $6.58 billion in 2023 to $7.78 billion in 2024 at a compound annual growth rate (CAGR) of 18.4%. The growth observed during the historic period can be attributed to the expansion of e-commerce, the development of the healthcare sector, initiatives encouraging circular economy practices, rising demand from the cosmetics industry, and increased investments in research and development.
The biodegradable polymers market size is expected to see rapid growth in the next few years. It will grow to $15.35 billion in 2028 at a compound annual growth rate (CAGR) of 18.5%. The anticipated growth during the forecast period can be attributed to rising industrialization, an increasing demand for eco-friendly materials, the expansion of the packaging industry, a growing need for sustainable packaging, and heightened environmental regulations. Key trends expected in this period include technological advancements, the adoption of life cycle assessments, the use of hybrid materials, the rise of 3D printing, and the development of algae-based biodegradable polymers.
The growth of the biodegradable polymer market is expected to be driven by the expansion of agricultural sectors. These sectors encompass various segments of agriculture, including crop production, livestock farming, forestry, fisheries, and agribusiness, all aimed at producing food, raw materials, and related products. The agricultural sectors are experiencing growth due to the increasing global demand for food, fueled by population growth, advancements in farming technologies, heightened investment in sustainable practices, and the rising need for bio-based materials. Biodegradable polymers are essential in these sectors as they help reduce plastic waste, enhance soil health, and promote sustainability by offering eco-friendly alternatives for products such as mulch films, seed coatings, and packaging. For instance, a report from the United States Department of Agriculture, released in September 2024, indicated that agriculture, food, and related industries contributed approximately $1.53 trillion to the U.S. gross domestic product (GDP) in 2023, accounting for 5.6% of the total. Thus, the expansion of agricultural sectors is driving the growth of the biodegradable polymer market.
Key companies in the biodegradable polymers market are concentrating on developing soil conditioners to improve soil structure, enhance water retention, increase nutrient availability, and promote better root development. Soil conditioners are materials added to soil to improve its physical properties, including structure, water retention, and nutrient availability, thereby supporting plant growth and enhancing soil health. For example, in August 2024, Hydroplan-EB, a UK-based manufacturer of biodegradable and superabsorbent polymers, launched HYB PLUS, a biodegradable polymer. This product is designed with additives that facilitate rooting and promote successful plant establishment during planting and transplanting. These biodegradable polymers enhance initial plant growth while reducing the need for replanting. Notable benefits include increased nitrogen levels, organic carbon, and enzymes that help alleviate the physiological stress often associated with transplanting.
In October 2023, Versalis, an Italy-based provider of chemical and polymer solutions, acquired Novamont S.p.A. for an undisclosed sum. This acquisition is expected to promote sustainable growth and create new opportunities for both companies. This strategic move aims to accelerate the transition toward a circular economy and strengthen Versalis' position in the renewable chemistry sector. Novamont S.p.A. is an Italian chemical company specializing in sustainable and biodegradable polymers.
Major companies operating in the biodegradable polymers market are BASF SE, Mitsubishi Chemical Group Corporation, Merck Group, Evonik Industries AG, Solvay S.A., Koninklijke DSM N.V., Smurfit Kappa Group plc, Sulzer Ltd., Toyobo Co. Ltd., Corbion N.V., Green Dot Bioplastics Inc., Kaneka Belgium N.V., Danimer Scientific Inc., Polysciences Inc., Sulapac Ltd., TIPA Corp Ltd., Natur-Tec, TotalEnergies Corbion B.V., BioBag International AS, Futerro S.A., Cereplast Inc.
Asia-Pacific was the largest region in the biodegradable polymers market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the biodegradable polymers marker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the biodegradable polymers marker report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The biodegradable polymers market consists of sales of cutlery and plates, straws, agricultural films, seed coatings and personal care products. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Biodegradable Polymers Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on biodegradable polymers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for biodegradable polymers ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The biodegradable polymers market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.