San Francisco, 25 October 2018 , The global Biodegradable Plastics Market size
is projected to reach USD 6.73 billion by 2025, according to a report by Grand
View Research, Inc., rising at a CAGR of 12.8% during the forecast period.
Increasing use of biodegradable plastics, owing to strict governmental laws for
prohibiting use of conventional plastics, coupled with growing awareness among
public towards ill-effects of plastic waste is stoking the growth of the
market. The above factors are expected to spur biodegradable plastics market
growth over the forecast period.
Biodegradable
plastics are plastics which decompose in the environment within a reasonable
period of time. Biodegradable plastics are made up of renewable raw materials.
Many of these plastics require biodegradable additives to enhance
biodegradation process and some may require a specific environment to
disintegrate. Time taken by plastics to decompose depends upon various factors
such as raw material used and environmental conditions such as moisture and
temperature.
The starch
based segment lead the global biodegradable market. Starch based plastics are
used in various applications such as packaging, consumer electronics,
agriculture, automotive and textiles. PLA is also one of the most consumed
biodegradable plastic type. It is used in 3D printing, mulch film, and
packaging.
Packaging is
the leading end use of biodegradable plastics. Ban on plastics by European
Commission is anticipated to drive the segment over the forecast period. Novel
applications of biodegradable plastics in the medical sector for drug
encapsulation and medical surgeries are being increasingly practiced.
Around the
world, people are facing grave issues of plastic waste as conventional plastics
take hundreds of years to decompose. To tackle this issue several countries
have banned use of single-use plastic products and are promoting use of
eco-friendly biodegradable plastics. Ban of non-reusable conventional plastics
in many regions around the globe, especially in Europe and North America is
estimated to propel the global biodegradable plastics market.
Additionally, improving standard of living and increasing disposable
income in developing countries are likely to augur well for the market in Asia
Pacific and Central & South America.
Key players
are investing in research and development activities in order to create
improved products that are strong and can be easily decomposed in natural
environment. Many of the companies have integrated through the value chain to
serve customers better and improve profits of the company.
Full Research Report On Biodegradable Plastics Market
Analysis:
www.grandviewresearch.com/industry-analysis/biodegradable-plastics-market
www.grandviewresearch.com/industry-analysis/biodegradable-plastics-market
Further key findings from the report suggest:
·
The PHA segment is projected to expand at a
noteworthy CAGR of 13.5% in terms of revenue during the forecast period
·
The packaging is the largest end-use
segment, followed by the agriculture sector
·
Europe is the largest region in terms of
value and volume. However, Asia Pacific is expected to emerge as the fastest
growing region for biodegradable plastics.
Browse More Reports Of This Category By
Grand View Research At: www.grandviewresearch.com/industry/specialty-bio-based-and-water-soluble-polymers
Grand View Research has segmented the
global biodegradable plastics market on the basis of type, end use, and region:
Biodegradable
Plastics Type Outlook (Volume, Kilotons; Revenue, USD Billion, 2014 - 2025)
·
Starch Based
·
PLA
·
PBS
·
PBAT
·
PHA
·
Others
Biodegradable
Plastics End-use Outlook (Volume, Kilotons; Revenue, USD Billion, 2014 - 2025)
·
Packaging
·
Agriculture
·
Consumer Goods
·
Others
Biodegradable
Plastics Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2014 - 2025)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
U.K.
o
France
o
Italy
o
Spain
·
Asia Pacific
o
China
o
Japan
o
India
o
South Korea
·
Central & South America
o
Brazil
·
Middle East & Africa
o
Saudi Arabia
Access Full Press Release of this Report:
www.grandviewresearch.com/press-release/global-flat-glass-coatings-market
www.grandviewresearch.com/press-release/global-flat-glass-coatings-market
About Grand View
Research
Grand View Research, Inc.
is a U.S. based market research and consulting company, registered in the State
of California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com/
