Global Biodegradable Plastics Market

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Global Biodegradable Plastics Market
Global Biodegradable Plastics Market
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Global Biodegradable Plastics Market
According to Renub Research report, tittled
Biodegradable Plastics Market Size, Global
Forecast 2021-2027, Industry Trends, Impact of
COVID-19, Opportunity Company Analysis the
Biodegradable Plastics Market was USD 4.3 Billion
in 2021. In the wake of plastic pollution
increasing worldwide, biodegradable plastics are
one of the fastest-growing segments within the
global plastics industry. Nevertheless,
Bioplastic is a sustainable material derived from
renewable feedstocks, and is an alternative to
petroleum-based plastics. It can reduce 30-70 of
carbon dioxide emissions. It represents 42
reduction of carbon footprints. The production of
bioplastic requires 65 less energy than
conventional petroleum plastic. How Covid-19
Helped the Biodegradable Plastics Industry to
Grow The global biodegradable plastics industry
witnessed a positive impact owing to the novel
coronavirus lockdown globally. The number of
medical items like sanitizer bottles, face masks,
and gloves increased, creating huge plastic
waste. This aspect has made a massive opportunity
for biodegradable plastics to produce personal
protective equipment and sanitizer bottles.
Global Biodegradable Plastics Market
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Global Biodegradable Plastics Market
Prominent industry leaders adopt different growth
strategies like a geographical expansion to
increase their capacity and productivity. Global
Biodegradable plastics Resin Market
Drivers Worldwide, the increasing environmental
concerns about plastic usage (as plastics contain
toxic pollutants that harm animals, plants, and
people) are propelling the use of biodegradable
plastic alternatives. Floating plastic waste that
survives thousands of years in water can perform
as a transportation device for invasive species
that disrupt habitats. This factor above is
contributing to the growth of the market. Thus,
the stringent regulations by various governments
and federal agencies to reduce plastic waste and
promote biodegradable plastics usage in packaging
are expanding the demand of this market. The laws
related to green packaging are rising. As a
result, various FMCG companies are required to
adopt biodegradable packaging to yield with the
standards, which is propelling the blossoming of
this market.
Global Biodegradable Plastics Market
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Global Biodegradable Plastics Market
The use of Starch blends is stimulating the
biodegradable plastics industry to
blossom. Based on material type, the
biodegradable plastics market is divided into
Polybutylene adipate Terephthalate (PBAT),
Polybutylene Succinate (PBS), Polylactic Acid
(PLA), Polyhydroxyalkanoate (PHA), and Starch
Blends. Starch blends appeared as the global
leader in revenue share in the biodegradable
plastic market. This is accounted to its demand
in flexible packaging and the agricultural
sector. Starch blends are widely used to reduce
the carbon footprint of conventional resins, thus
enhancing demand growth. Furthermore, the
adoption of Polylactic Acid (PLA) bioplastic has
increased tremendously across packaging and
consumer goods applications due to the avant
technical properties and functionalities. The
demand for Polylactic Acid (PLA) bioplastics has
gained tremendous traction in various plastic
applications due to the favorable legislations
implemented by many governments around the globe.
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Global Biodegradable Plastics Market
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Global Biodegradable Plastics Market
Moreover, there is an increased demand for
bioplastic packaging for wrapping organic food
and premium and branded products with specific
needs. A combination of recycling components from
conventional plastics, such as PET with
bioplastics (bio-based PET), provides
high-performance processing of bioplastics
packaging. Biodegradable food packaging,
certified as industrially compostable, was the
first successfully commercialized bioplastic
product. North America is one the Biggest
Consumer in Biodegradable Plastics Regionally,
the North American region is predicted to be one
of the biggest consumers of biodegradable
plastics, which is majorly credited to the
extensive presence of packaged food manufacturers
in Canada the United States. Being
environmentally conscious and increasing the
spending power of the consumers is one of the
significant drivers increasing the demand of the
market in the region.
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Global Biodegradable Plastics Market
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Global Biodegradable Plastics Market
Further, the transition to a low-carbon and
circular economy, more vital policy support for
the economy, and raised consumer awareness for
sustainable products and packaging are compelling
the expansion of the market in Europe. The use of
biodegradable plastics, primarily in European
countries, also increases in other niche
components, such as drug delivery systematical
implants. Key Players The global biodegradable
plastic market is highly fragmented, as the
international participants are driving toward
inventing new technologies to manufacture pliable
packaging material from different readily
available natural resources. The players'
substantial investments in research and
development to create innovative products
generate high competition. The key players are
Total Corbion (Netherlands), Mitsubishi Chemical
Holding Corporation (Japan), Toray Industries
(Japan), Biome Bioplastics (UK), and Green Dot
Bioplastics.
Global Biodegradable Plastics Market
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Global Biodegradable Plastics Market
Market Summary Material Type Renub Research
Report covers by Material Type in the 6
viewpoints (Polybutylene adipate Terephthalate
(PBAT), Polybutylene Succinate (PBS), Polylactic
Acid (PLA), Polyhydroxyalkanoate (PHA), Starch
Blends and Others) Applications Our Report
covers by Application in the 4 viewpoints
(Packaging, Agriculture, Consumer Goods and
Others) Regions This Report covers Market
breakup by 5 Regions (North America, Europe,
Asia-Pacifics, Latin America and Middle East
Africa) All the key players have been shielded
from 3 Viewpoints (Overview, Recent Development,
and Revenue Analysis) Total Corbion
(Netherlands), Mitsubishi Chemical Holding
Corporation (Japan), Toray Industries (Japan),
Biome Bioplastics (UK) and Green Dot Bioplastics
Global Biodegradable Plastics Market
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Global Biodegradable Plastics Market
Global Biodegradable Plastics Market
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Global Biodegradable Plastics Market