The biodegradable plastics industry is a sector of the plastics industry that focuses on developing and manufacturing plastics.

NEW CASTLE, DELAWARE, UNITED STATES, September 6, 2023/EINPresswire.com/ — Eco-Friendly nature and rise in consumer adoption of biodegradable plastics, high demand of biodegradable plastic in food packaging application, and favorable government policies toward bio-plastic drive the growth of the global biodegradable plastics market. However, high cost of biodegradable plastic hampers the market growth. On the contrary, rise in CSR activities and decreasing dependence on petroleum resource is expected to create lucrative opportunities for market players in the future.

The biodegradable plastics industry is a sector of the plastics industry that focuses on developing and manufacturing plastics that can naturally break down and decompose in the environment. Biodegradable plastics are seen as a more environmentally friendly alternative to traditional plastics, which can persist in the environment for hundreds of years, causing pollution and harm to ecosystems. The biodegradable plastics industry has gained significant attention and growth in recent years due to increased concerns about plastic pollution and its impact on the planet.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/6136

𝐇𝐞𝐫𝐞 𝐚𝐫𝐞 𝐬𝐨𝐦𝐞 𝐤𝐞𝐲 𝐚𝐬𝐩𝐞𝐜𝐭𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐛𝐢𝐨𝐝𝐞𝐠𝐫𝐚𝐝𝐚𝐛𝐥𝐞 𝐩𝐥𝐚𝐬𝐭𝐢𝐜𝐬 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

𝐓𝐲𝐩𝐞𝐬 𝐨𝐟 𝐁𝐢𝐨𝐝𝐞𝐠𝐫𝐚𝐝𝐚𝐛𝐥𝐞 𝐏𝐥𝐚𝐬𝐭𝐢𝐜𝐬: There are several types of biodegradable plastics, including:

– Polylactic Acid (PLA): Made from renewable resources like corn starch or sugarcane, PLA is one of the most common biodegradable plastics. It is used in a wide range of applications, including food packaging, disposable cutlery, and 3D printing.

– Polyhydroxyalkanoates (PHA): PHA plastics are produced by bacteria and can be used in various applications, such as packaging materials, agricultural films, and medical devices.

– Polybutylene Adipate Terephthalate (PBAT): PBAT is often used in combination with other biodegradable materials to improve their properties. It is commonly used in compostable bags and films.

– Starch-Based Plastics: These plastics are derived from starch and are often used for disposable items like bags, utensils, and packaging.

– Polyethylene (PE) and Polypropylene (PP) Blends: Some companies are working on blending traditional plastics like PE and PP with biodegradable additives to enhance their biodegradability.

The PLA segment is expected to register the highest CAGR of 13.9% during the forecast period, owing to increasing application in food packaging as a sustainable source. However, the starch blend segment dominated the global biodegradable plastic market in 2019, accounting for nearly two-fifths of the market. This is attributed to its demand in flexible packaging and agricultural sector. Also, the starch blends are widely used to decrease the carbon footprint of conventional resins, thus enhancing the segment growth.

𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬: Biodegradable plastics are used in a variety of applications, including packaging materials, food containers, agricultural films, medical devices, textiles, and more. They are often used in single-use items to reduce the environmental impact of plastic waste.

𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐢𝐨𝐧𝐬 𝐚𝐧𝐝 𝐒𝐭𝐚𝐧𝐝𝐚𝐫𝐝𝐬: Various countries and regions have established regulations and standards for biodegradable plastics to ensure they meet specific criteria for biodegradability and compostability. These regulations help consumers and businesses identify genuine biodegradable products.

𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬: Despite their benefits, biodegradable plastics also face challenges. One major challenge is ensuring that they break down properly in various environmental conditions. Biodegradable plastics often require specific composting conditions to fully degrade, and if they end up in conventional landfills, they may not decompose as intended.

The packaging segment held the largest share in 2019, accounting for more than two-thirds of the global biodegradable plastic market. This is attributed to the shifting trend of consumers from synthetic to bio-based products in response to the growing environmental awareness. However, the agriculture segment is expected to manifest the highest CAGR of 14.1% during the study period, owing to growing application of biodegradable mulch films in agriculture.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡: The demand for biodegradable plastics has been growing steadily, driven by increased awareness of plastic pollution and sustainability concerns. Companies in this industry continue to innovate and improve the performance of biodegradable materials.

𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐚𝐧𝐝 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭: Ongoing research and development efforts focus on creating biodegradable plastics with better mechanical properties, longer shelf life, and broader applications. Researchers are also exploring more sustainable feedstock options.

The market across Europe, followed by North America, held the largest share in 2019, contributing to more than half of the market. This is attributed to European legal framework and strategies that will foster the extensive use of bio-based plastic products. However, the global biodegradable plastic market across LAMEA is expected to portray the highest CAGR of 15.5% from 2020 to 2027, owing to the large presence of sugarcane feedstock, which can be utilized for production of bio-plastics.

𝐄𝐧𝐯𝐢𝐫𝐨𝐧𝐦𝐞𝐧𝐭𝐚𝐥 𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬: Biodegradable plastics can help reduce the environmental impact of plastic waste and decrease the reliance on fossil fuels for plastic production. However, their environmental benefits depend on proper disposal and management.

According to the report, the global biodegradable plastic industry was pegged at $1.6 billion in 2019, and is projected to reach $4.2 billion by 2027, growing at a CAGR of 13.3% from 2020 to 2027.

𝐌𝐚𝐣𝐨𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

– Biome Technologies plc

– Mitsubishi Chemical Holdings

– Eastman Chemical Company

– Danimer Scientific

– BASF SE

– Dow Inc.

– Novamont S.p.A.

– Plantic

– Natureworks

– Corbion N.V.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐕𝐢𝐬𝐢𝐭 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/biodegradable-plastic-market/purchase-options

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