Biodegradable Plastics Market Overview:
The report provides the most recent revenue and market trends of the Biodegradable Plastics Market It emphasizes an overview of the Biodegradable Plastics Market, as well as, its definition, and market structure, and provides preventative and pre-planned management. The report focuses on aspects such as gross margin, cost, market share, capacity utilization, and supply that affect the Biodegradable Plastics Market. It also helps in understanding Biodegradable Plastics Market's future potential in the succeeding years. The report provides a market overview by standard topics which are highlighted with customized data according to the necessity. The Biodegradable Plastics market overview helps in decisions on how to approach the market and understand the context of the industry.
Biodegradable Plastics Market was valued US$ 2.63 Bn. in 2021 and is estimated to grow at CAGR of 15.1%, to reach US$ 8.10 Bn. by 2029 during the forecast period.
Biodegradable Plastics Market Scope
The Biodegradable Plastics market is divided in based on different segments including Biodegradable Plastics. The growth of the various segments helps clients in acquiring knowledge of many growth factors expected to be prevalent throughout the market and develop different strategies to identify core application areas. The report provides an in-depth analysis of the Biodegradable Plastics market and contains meaningful insights, facts, and industry-validated market statistics. The bottom-up approach was used to estimate the overall Biodegradable Plastics Market size using key companies’ revenue and their offering in the market.
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Segmentation
Based on Type, The starch-based segment is expected to dominate the market with the growth of 10.4% CAGR during the forecast period. Starch-based plastics are widely used in end-consumer industries such as automobiles, agriculture and packaging. Moreover, starch-based are used as an alternative for petroleum-based polymers & is highly degradable hence, widely utilized in reducing the carbon footprint. The PLA plastics are also growing rapidly especially in the European region mainly due to the reasonable price of PLA in comparison to any other type is a prime factor driving the growth.
Based on Application, packaging industry generated the largest revenue of Mn. in 2021 and is estimated to grow at CAGR of % in forecast period. The leading factor driving the growth is boosting demand and usage of biodegradable Plastics packaging in textiles, consumer goods, food & beverage, textiles and pharmaceuticals industries extending the market growth over the forecasted period. Furthermore, changing lifestyle & growing awareness among farmers towards the greenhouse for vegetables and fruits production further supported the utilization of biodegradable plastics in agriculture.
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Key Players
• NatureWorks
• BASF
• Total Corbion PLA
• Mitsubishi Chemical
• Biome Bioplastics
• Plantic Technologies
• Bio-On
• Danimer Scientific
• Novamont S.p.A
• Toray Industries
• DowDuPont Inc
• Eastman Chemical Company
• Mondi PLC
• Amcor Limited
• Kruger Inc.
• Tetra Pak International SA
• Plastic Suppliers Inc.
• Stora Enso
• WestRock
• Archer Daniels Midland
• Perstorp, K.D
• FEDDERSEN
• UrthPact, LLC
• Indochine Bio Plastiques (ICBP) Sdn. Bhd.
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Regional Analysis
Regional Insights in the report guarantee the Biodegradable Plastics industry on a regional level. The region-wise survey is done in a wide range of high-resolution regional investigations. Global Biodegradable Plastics Market research provides exact knowledge that enables market participants to compete successfully with their greatest competitors based on growth, sales, and other crucial aspects. The region portion of the research also provides key market influencing aspects and changes in market regulation that impact the market's current and future trends.
Key Questions answered in the Biodegradable Plastics Market Report are:
- What is Biodegradable Plastics Market?
- What is the forecast period of the Biodegradable Plastics Market?
- What is the competitive scenario of the Biodegradable Plastics market?
- Which region held the largest market share in the Biodegradable Plastics Market?
- What are the opportunities for the Biodegradable Plastics Market?
- What factors are affecting the Biodegradable Plastics market growth?
- Who are the key players of the Biodegradable Plastics market?
- Which company held the largest share in the Biodegradable Plastics market?
- What will be the CAGR of the Biodegradable Plastics market during the forecast period?
- What key trends are likely to emerge in the Biodegradable Plastics market in the coming years?
Key offerings:
- Market Share, Size, and Forecast by Revenue|2022-2029
- Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
- Market Segmentation: A detailed analysis by Biodegradable Plastics
- Landscape- Leading key players and other prominent key players.
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