The global Biodegradable Plastics Market was valued at $3.12Billion in 2017 and is forecast to grow at a modestxx.3 % CAGR between 2018 and 2025, culminating in 2025 global sales of $7.34Billion.
Biodegradable plastics are plastics that can be broken down by bacteria or fungi into the water. It is not necessarily biodegradable plastics are made of biomaterial many plastics are made from oil in the same way as conventional plastics. Biodegradable plastics are good for food storage, transport, building & constructions.
Biodegradable plastics are divided into two groups one is oxy-biodegradable& another one hydro oxy-biodegradable in both cases degradation starts with a chemical process followed by a biological process. Hydro oxo-biodegradable is costly than oxy-biodegradable
The advantage of biodegradable plastics
- A biodegradable plastic is the minimal emission of carbon in the air during the process of manufacturing bioplastics.
- A biodegradable plastic requires less amount of energy and does not need fossil fuels to be recycled.
- No need to add more landfills.
- Biodegradable plastics can also be recycled and are non-toxic since they contain no chemicals.
“Optimal Price Point (OPP) for Biodegradable Plastics Products”
Estimated Average product/ service cost – $ xx globally. However, with improving access and availability of options, OPP and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.
Due to the wide array of products available in the market, pricing, positioning, and sales channel optimization play a vital role in the success of a product. On an average, in the China Biodegradable plastics materialsare available at USD xxx- USD xxxx. However, the high-end products are available at much higher prices. The prices in emerging countries and developed countries vary significantly due to the difference in purchasing power and availability of latest products.
Biodegradable plastics market by “MaterialType”
We have segmented the Biodegradable plastic market based on materials types are Starch, PLA, PHA, PBAT, and PBS.
Starch is a carbohydrate which is extracted from vegetable raw material literally available in every food &nonfood application. It is renewable & biodegradable. PLA (Polylactic acid) is bioplastic made from lactic acid used in food industry for packing of sensitive food products. PHA (Polyhydroxyalkanoates) is biopolymer stores within the cell by various microorganisms they can be either thermoplastic or elastomeric materials. PBAT (Polybutylene adipate terephthalate) is a synthetic polymer based on fossil resources it is 100 percent biodegradable& very flexible. PBS (polybutylene succinate) is biodegradable aliphatic polyester produced by polycondensation of succinic acid.
Biodegradable plastics market by “End-Use”
We have segmented the Biodegradable market based on end-use as Packaging, Consumer goods & Agriculture.
Packaging: Biodegradable plastic offers a large range of packaging application like a bag for compost, agricultural foils, nursery products, toys .it is used in food application industry like cup, plates, wraps etc.
CONSUMER GOODS: In electronics markets, plastic are used in the casing, circuit board, touch screen computer casing, loudspeaker, mobile casing, mouse etc. automotive industry is also using the bioplastic components
AGRICULTURE:it is widely used for Mulches, seeding trips &tapes. Foils & net are made from bioplastic used for farming of mushrooms & coating of trees & bush roots.
North America accounted for the maximum revenue share of over xx% in 2017 due to increased demand of Biodegradable plastic followed by EU-Top 5 countries contribute $X.6 Billion in 2017 and expected to reach $x.5 Billion by 2023.
The key regions analyzed in the study include North America, Europe, Asia-Pacific, Latin America and the Middle East and Europe. In 2017, North America has the major market share followed by Asia-Pacific.
Due to the food processing industry, food packaging (including fast-food and beverage containers), dishes and cutlery markets are the major growth drivers. The AsiaPacific is expected to have the growth such as India, China, Japan encouraging providing profit margins to key market participants, and rising disposable income is driving the regional market.
“Competitive Landscape” and“Merger& Acquisition Insights”
The key market participants include PtcMccBiochem, Verdezyne, Lanzatech, Versalis, Novozymes, Genomatica, DU PONT, Tate &Lale are few major players in Biodegradable Plastics markets. The market for biodegradable plastic is fragmented with a large number of global & local players. Merger &Acquisitions, collaborations & new products launch are some of the major strategies adopted by key market players. Apart from this innovation& new product development are a major focus area for dominant companies.
Biodegradable Plastics by Material Type (Revenue, Million, 2014 – 2025)
Biodegradable Plastics Market byEnd-Use(Revenue, Million, 2014 – 2025)
- Consumer goods
Biodegradable Plastics Market Regional Outlook (Revenue,USD Million, 2014- 2025)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia