Industry Insights
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.
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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.
End Use Insights
The agriculture sector also holds a significant share in the market. Use of biodegradable mulch film ensures conservation of water in the soil, suppression of weed growth, and conducive soil temperature maintenance in order to facilitate faster crop development. Surging use of biodegradable plastics in consumer goods is also evident in developed economies.
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
Report Scope
| Attribute | Details |
| Base year for estimation | 2017 |
| Actual estimates/Historical data | 2014 - 2016 |
| Forecast period | 2018 - 2025 |
| Market representation | Volume in Kilotons, Revenue in USD billion, and CAGR from 2018 to 2025 |
| Regional scope | North America, Europe, Asia Pacific, Central & South America, and the Middle East & Africa |
| Country scope | U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, China, India, Japan, South Korea, Brazil, and Saudi Arabia |
| Report coverage | Revenue forecast, competitive landscape, and growth factors and trends |
| 15% free customization scope (equivalent to 5 analysts working days) | If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization |
