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(Health-NewsWire.Net, July 20, 2024 ) InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Biodegradable Plastics Market Size, Share & Trends Analysis Report By Types (Polylactic Acid (PLA), Starch Blends, Polyhydroxyalkanoates (PHA), Biodegradable Polyesters [Polycaprolactone (PCL), Polybutylene Adipate Terephthalate (PBAT), Polybutylene Succinate (PBS)]), By End-user (Packaging, Consumer Goods, Textiles, Agriculture & Horticulture) Region, Market Outlook And Industry Analysis 2031""
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Plastics that break down into water, carbon dioxide (or methane), and biomass under certain circumstances are known as biodegradable plastics. Biodegradable plastics represent an ideal solution for various single- or short-term use applications, particularly in organic waste collection and diversion efforts. They find practical application in the agricultural and horticultural sectors, serving as mulch films or plant pots that can degrade naturally after use. In food packaging and disposable tableware, biodegradable plastics offer a sustainable alternative, reducing environmental impact by breaking down over time, thereby mitigating long-term waste accumulation. These applications demonstrate their versatility and environmental benefits in sectors striving for more sustainable practices.
Biodegradable plastics offer significant environmental advantages as they decompose more quickly when discarded and can be recycled through organic processes. Recycling biodegradable plastics helps alleviate landfill issues, with recycled bio-waste serving purposes such as composting or generating renewable energy like biogas. Although production costs for biodegradable plastics may initially be higher due to specialized materials and processes, the long-term environmental benefits justify the investment. People are becoming increasingly aware of the negative impacts of plastic pollution on the environment. This is leading to a growing demand for sustainable alternatives, such as biodegradable plastics.
List of Prominent Players in the Biodegradable Plastics Market:
• ABMcomposite
• Agrana
• Akro-Plastic
• ALPLA Werke Alwin Lehner GmbH & Co KG
• Amcor limited
• Anellotech, Inc.
• AVA Biochem
• Avani Eco
• BASF (Germany)
• Biobent Polymers
• Biome Bioplastics (UK)
• Biome Technologies
• Bio-On
• BIOplastics
• Biosphere Plastic LLP
• Braskem
• Carbiolice
• Cardia Bioplastics
• Danimer Scientific
• Eastman Chemical Company
• Eranova
• Fkur Kunstsoff (Germany)
• FlexSea
• Floreon Transforming
• Futerro
• Genecis Bioindustries
• Green Dot Bioplastics
• Ingevity
• Kruger Inc.
• Mitsubishi Chemical Holding Corporation (Japan)
• Mondi Group
• NatureWorks (US)
• NEC Corporation
• Newlight Technologies
• Novamont (Italy)
• Polymateria
• Plantic Technologies (Australia)
• Plastic Suppliers Inc.
• PTT MCC Biochem
• Sphere
• Succinity
• Synbra Technology
• TECNARO GmbH
• TerraVerdae Bioworks Inc
• Tianan Biologic Materials
• Toray Industries (Japan)
• Total Corbion (Netherlands)
• Venvirotech
• Yield10 Bioscience, Inc.
• Zhejiang Hisun Biomaterials
• Other Prominent Players
Market Dynamics:
Drivers-
Consumers are increasingly demanding eco-friendly products. This is driving the demand for products made with biodegradable plastics. Many governments are enacting bans or restrictions on single-use plastics and other conventional plastics. This is creating a favorable market for biodegradable plastics. Many corporations are setting sustainability goals that include reducing their use of traditional plastics. This is creating a demand for biodegradable alternatives. People are becoming increasingly aware of the negative impacts of plastic pollution on the environment. This is leading to a growing demand for sustainable alternatives, such as biodegradable plastics. Research and development in biodegradable plastics is ongoing, leading to the development of new and improved products that are more cost-effective and have a wider range of applications.
Challenges:
The primary challenge with biodegradable plastics lies in their global adoption. The higher cost of biodegradable plastics discourages many consumers from choosing them. This reluctance is often due to a lack of awareness about the benefits and protective qualities of biodegradable plastics. Consequently, many plastics manufacturers show little interest in conducting economic research to identify cost-effective biodegradable options. This gap in knowledge and investment further hinders the widespread use and acceptance of biodegradable plastics, despite their environmental advantages.
Regional Trends:
Europe region's biodegradable plastics market is expected to witness the highest market share in revenue soon. Europe is leading the way in the adoption of biodegradable plastics, driven by comprehensive legislation such as the European Union's ban on single-use plastics. Countries like Germany, France, and Italy are at the forefront, with significant investments in research and development of biodegradable materials. The European EN 13432 standard also plays a crucial role in defining and promoting biodegradable plastics. In North America, the biodegradable plastics market is growing steadily due to increasing consumer awareness and stringent government regulations aimed at reducing plastic waste.
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Recent Developments:
• In April 2024, Toray Industries, Inc., declared that it has created a spherical polyamide 4 fine particle that breaks down in the ocean. The company will advance technological development for mass manufacturing and sales and will supply samples and assess the fine particle as a raw material for cosmetics, for which the usage of traditional counterparts (note 2) is forbidden. It plans to launch its new product into the market by the end of March 2025
• In April 2024, Green Dot Bioplastics, produces premium bioplastics that are affordable substitutes for conventional thermoplastics and have positive effects on the environment. To make blends and alloys, they use their patented thermoplastic starch technique along with commercially available bioplastics (PBAT, PBS, and PLA). Their physical characteristics and composability rates are exceptional. They designed the Green Ring Teether and the Scented Scoops Ice Cream playset in collaboration with BeginAgain Toys. It is also a biodegradable substance that helps to lessen pollution.
• In Nov. 2023, Amcor, declared the conclusion of a Memorandum of Understanding (MOU) for the acquisition of mechanically recycled polyethylene resin (rPE) for use in flexible packaging films with NOVA Chemicals Corporation ("NOVA Chemicals"), a prominent producer of sustainable polyethylene. Amcor's commitment to promoting packaging circularity includes a significant increase in the usage of rPE in flexible packaging applications.
Segmentation of Biodegradable Plastics Market-
By Types:
• Polylactic Acid (PLA)
• Starch Blends
• Polyhydroxyalkanoates (PHA)
• Biodegradable Polyesters
o Polycaprolactone (PCL)
o Polybutylene adipate terephthalate (PBAT)
o Polybutylene succinate (PBS)
• Other Types
o Regenerative Cellulose
o Cellulose Derivative
By End-Users:
• Packaging
o Rigid Packaging
o Flexible Packaging
• Consumer Goods
o Electrical Appliances
o Domestic Appliances
o Others
• Textiles
o Medical & Healthcare Textile
o Personal Care, Clothes, And Other Textiles
• Agriculture & Horticulture
o Tapes & Mulch Films
o Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
Insight Ace Analytics
Diana D’souza
+8884144123
diana.dsouza@insightaceanalytics.com
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