Biodegradable Plastics Market Size, Share & Trends Report

Biodegradable Plastics Market Size, Share & Trends Analysis Report By Type (Starch based, PLA, PHA, PBAT, PBS), By End Use (Packaging, Consumer Goods, Agriculture), And Segment Forecasts, 2018 - 2025

  • Published Date: Jul, 2018
  • Base Year for Estimate: 2017
  • Report ID: GVR-2-68038-410-9
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2016
  • Number of Pages: 135

Industry Insights

The global biodegradable plastics market size was estimated at USD 2.56 billion in 2017. It is expected to expand at a CAGR of 12.8% during the forecast period. Governments prohibiting the use of single-use plastic coupled with rising awareness among public regarding ill-effects of plastic waste are among the key trends stimulating market growth. Additionally, increasing use of biodegradable plastics in packaging and agriculture is anticipated to supplement the growth of the segment.

U.S. biodegradable plastics market

Non-decomposable plastics are a global issue. Governments around the world are tackling this problem by banning single-use plastics and promoting use of biodegradable plastics. Moreover, consumers are willing to pay more for biodegradable plastics owing to their eco-friendly nature. The aforementioned factors, cummulatively, are providing a fillip to the market.

Despite environmental advantages, biodegradable plastics have some shortcoming too. Segregation of conventional plastics and biodegradable plastic is a big drawback as there is no distinct difference between them. Inclusion of conventional plastic in biodegradable plastic landfills can cause complications in decomposition process.

Moreover, not all biodegradable plastics readily decompose in the natural environment, as they require a specific environment in terms of moisture and temperature. Some of the biodegradable plastics release greenhouse gases during decomposition, which is counterproductive to the environmental cause. These factors are likely to act as stumbling stones in the upward climb of the market.

Type Insights

On the basis of type, the market is divided into starch based, PLA, PBAT, PBS, PHA, and others. The starch based segment is projected to dominate the market in terms of value as well as volume throughout the forecast horizon. Starch based plastics are used in end-use industries such as packaging, automobiles, and agriculture. The segment is poised to expand at a CAGR of 14.0% during the same period in terms of revenue. The PLA type plastics are also rapidly gaining their ground in the arena. Inexpensive cost of PLA compared to any other type is a major driving factor for the segment.

End Use Insights

Packaging is the leading end-use sector for biodegradable plastics. It is used in both rigid and flexible packaging. Replacement of conventional plastics by these plastics in food packaging such as boxes, wraps, cups, plates is gaining momentum, which is supporting the growth of the biodegradable plastics market.

Global biodegradable plastics market

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.

Regional Insights

Europe was the largest regional market for biodegradable plastics in 2017. High awareness among people towards plastic waste coupled with European Union ban on single-use plastics is estimated to propel the regional market over the forecast period. On the other hand, Asia Pacific is expected to emerge as the fastest growing market in the global arena. Rising disposable income and improving standard of living in developing countries such as China and India are anticipated to augment the market in the region.

The Central & South America region also emerging as promising destination in the market. Availability of cheap raw materials is likely to augur well for the market in the region. The region is projected to register a CAGR of 12.8% during the forecast period.

Biodegradable Plastics Market Share Insights

Competition in the market varies from low to medium from region to region. Competition in Europe and North America is medium owing to a large number of players. On the flip side, competitive rivalry in Asia Pacific is low due to fewer market players. However, the demand for biodegradable plastic is poised to increase in both developed and developing markets. Key market players are pouring hefty funds into research & development to introduce novel biodegradable plastic products, which are strong and readily degradable in the natural environment. Major players in the industry include Cargill Incorporated, Biome Technologies Plc, BASF SE, and NatureWorks LLC.

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

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Segments Covered in the Report

This report forecasts revenue growth at a global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global biodegradable plastics market report on the basis of type, end use, and region:

  • Type Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

    • Starch Based

    • PLA

    • PBS

    • PBAT

    • PHA

    • Others

  • End use Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

    • Packaging

    • Agriculture

    • Consumer Goods

    • Others

  • Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • France

      • U.K.

      • Italy

      • Spain

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

    • Central & South America

      • Brazil

    • Middle East & Africa

      • Saudi Arabia

Key questions answered by the report
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