Global Biodegradable Plastic Market

Biodegradable plastic is a type of plant based plastic with no hazardous effects on environment. This plastic degrades naturally in base compounds in reasonable amount of time. Hence it is known as biodegradable plastic. Biodegradable plastic is made up of molecules which can break down naturally by the action of micro-organisms. It is divided into various types such as PLA (Polylactic Acid) PBAT (Polybutylene Adipate Terephthalate), PBS (POLYBUTYLENE SUCCINATE), PHA (POLYHYDROXYALKANOATES), Starch Blends, and Others

Market Drivers

Stringent regulations of government on the use of single use plastic coupled with increase in awareness among the people regarding ill -effects of plastic waste considered as the key driving factor which is expected to boost the global biodegradable plastic market growth. Furthermore, increase in use of biodegradable plastic in packaging as well as agricultural industry will positively contribute the market growth. Global biodegradable plastic market is in the inductor phase of industry life cycle and which is expected to explore the new opportunities in next few years. Recently, industry trends are shifting towards bio-based products to reduce dependence on conventional plastic which is expected to propel the market growth during this analysis period.

Market Restraints

However, higher cost of biodegradable plastics than conventional plastic is the major challenging factor which is expected to hinder the global biodegradable market growth during this forecast period.

Market Segmentation

Global Biodegradable Plastic Market is segmented into type such as PLA (Polylactic Acid) PBAT (Polybutylene Adipate Terephthalate),PBS (POLYBUTYLENE SUCCINATE), PHA (POLYHYDROXYALKANOATES), Starch Blends, and Others. Further, market is segmented into application such as Packaging, Agriculture, Consumer Durable, Textile, and Others.

Also, Global Biodegradable Plastic Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Market Key Players

Various key players are discussed in this report such as BASF SE, Natureworks, Total Corbion PLA, Mitsubishi Chemical Corporation, Biome Bioplastics, Plantic Technologies, Bio-On, Danimer Scientific, and Novamont S.P.A.

Market Taxonomy

By Type

• PLA (Polylactic Acid)
• PBAT (Polybutylene Adipate Terephthalate)
• PBS (POLYBUTYLENE SUCCINATE)
• PHA (POLYHYDROXYALKANOATES)
• Starch Blends
• Others

By Application

• Packaging
• Agriculture
• Consumer Durable
• Textile
• Others

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

Key Questions Addressed by the Report

• What are the Key Opportunities in Global Biodegradable Plastic Market?
• What will be the growth rate from 2019 to 2027?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?
• What are the strategies adopted by key players?

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