The global biodegradable polymer market is anticipated to grow at a considerable CAGR of 8.9% during the forecast period. The primary factor bolstering the growth of the market is the rising demand for biodegradable polymers aross the globe. According to the Greenpeace Organization, the global production capacity for bioplastics reached 2.11 million tonnes in 2019, of which 55.5% are biodegradable plastics. The biodegradable polymer is being used as a viable solution for growing environmental concerns due to the accumulation of plastics. Plastics are among the most produced materials used for packaging and other applications, it causes land and water pollution and are often linked to various health problems in humans and animals.
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The government across the nations have been implementing strict rules and regulations concerning the use of such plastics. For instance, in July 2022, India banned the use of single-use plastics, China banned single-use plastics in 2021, also in June 2022, the US Interior Department announced that it will phase out the sale of single-use plastic products in national parks and other public lands by 2032. All these initiatives were in an attempt to mitigate a major contributor to plastic pollution as the country’s recycling rate continues to decline. This is the reason biodegradable polymers are being increasingly used as an alternative to plastics for application in different fields such as packaging, agriculture, and healthcare applications.
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Several key market players are also using different strategies to remain competitive to provide new biodegradable polymers, which is another factor boosting the growth of the market. For instance, in February 2020, BASF SE and Novamont launched highly sustainable solutions for fresh-food packaging in 2 major compostable cling film breakthroughs. Tackling both plastic pollution and food waste simultaneously, BASF’s certified compostable ecovio material and Novamont’s MATER-BI material replace hard-to-recycle conventional plastics like polyethylene (PE) while increasing product shelf-life. Apart from this, in March 2022, Solvay expanded its range of biodegradable guar-based solutions, with two additional thickening and conditioning polymers for beauty care. The two new ingredients, Jaguar NAT SGI and Jaguar Excel will enable beauty brands to address stringent global regulations and growing consumer expectations for more responsible and sustainable beauty products.
Market Coverage
- Segment Covered-
o By Product
o By End-Use
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- including Novamont S.p. A., BASF SE, Rodenburg Polymers, Total Corbion PLA bv, Plantic Technologies and Others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Biodegradable Polymer Market Report Segment
By Product
- Polylactic Acid
- Starch-based Plastic
- Polyhydroxy Alkenoates
- Biodegradable Polyesters
- Other(Cellulose Derivatives)
By End-Use
- Agriculture
- Consumer Goods
- Packaging
- Healthcare
- Other
Global Biodegradable Polymer Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
Reasons to Buying From us –
1. We cover more than 15 major industries, further segmented into more than 90 sectors.
2. More than 120 countries are for analysis.
3. Over 100+ paid data sources mined for investigation.
4. Our expert research analysts answer all your questions before and after purchasing your report.
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