BCC Research Study Projects 26.3% CAGR, with Demand for Biodegradable Polymers Growing from 1,286 Kilotons in 2023 to 4,140 Kilotons by 2028.

BOSTON, July 16, 2024 /PRNewswire/ -- Biodegradable polymers are a type of polymer that can break down naturally into water, carbon dioxide (or methane), and biomass through the action of microorganisms. These materials are designed to decompose over time when exposed to environmental conditions like moisture, heat, and microbial activity.

Traditional plastics can last for hundreds of years in the environment, causing pollution and harm to wildlife. Biodegradable polymers, on the other hand, are designed to break down much faster, reducing the amount of plastic waste and its impact on the planet.

Market Expansion and Revenue Surge

"According to the latest BCC research study, the demand for Biodegradable Polymers: Global Markets and Technologies expected to grow from 1,286.0 kilotons in 2023 and will reach 4,140.0 kilotons by the end of 2028 at a compound annual growth rate (CAGR) of 26.3% from 2023 to 2028."

This report covers various types of biodegradable plastics and their uses in different industries. It provides production estimates in kilotons without adjusting for inflation. You'll find detailed information on the biodegradable polymer industry, including its main users. The global market is divided by polymer type (like PLA and starch blends), end-use (such as packaging and medical), and region (including North America, Europe, and Asia-Pacific).

Some Interesting Facts about Biodegradable Polymers

• The global market for biodegradable plastics is seeing opportunities due to bans on single-use plastics. For example, Dubai banned single-use plastic bags from January 2024, aiming to protect the environment and local biodiversity. This move encourages the use of biodegradable polymers instead of plastic bags and other disposable items like food packaging, containers, bottles, and more.
• Major companies in the biodegradable polymers market are expanding their production capacities in Asia. For instance, NatureWorks LLC announced in October 2023 that it will build a new production plant in Thailand for its 'Ingeo PLA Biopolymer', which will begin operations in 2025. This expansion allows them to cater to the growing demand for biodegradable polymers in the Asia-Pacific region.
• Small and medium-sized companies are focusing on biodegradable polymers for medical applications. These materials are increasingly used in medical devices, drug delivery systems, wound dressings, and orthopedic devices. This trend is encouraging smaller companies to enter the biodegradable polymers industry.

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Factors contributing to this growth include:

1. Increasing consumption of biodegradable polymers in packaging.: More companies and individuals are opting for packaging materials that naturally decompose. They're doing this to lessen the environmental harm caused by traditional plastics, which degrade slowly and pose risks to the environment. It's part of a broader push to make packaging eco-friendlier and more sustainable overall.
   
   
2. Growing investments for innovative biodegradable polymers.: More funding and effort are going into developing new biodegradable materials to replace traditional plastics. This is driven by the aim to make plastics and polymers that break down naturally, reducing environmental harm. The goal is to find sustainable alternatives for uses like packaging and medical devices, aiming to protect the planet better.
3. Supporting government policies for biodegradable polymers.: means backing regulations and rules established by governments to encourage the use of biodegradable materials instead of traditional plastics. These policies aim to promote environmental sustainability by reducing the negative impacts of plastic waste on ecosystems.
4. Opportunities for medical application.: refers to favourable chances or possibilities to use biodegradable materials in medical fields. This includes creating devices, dressings, and tools that can break down safely in the body or environment, reducing waste and potentially improving medical treatments.

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Market Segmentation

The Global Market for Biodegradable Polymers: Global Markets and Technologies can be categorized into various segments:

• By Type
  The types of biodegradable polymers include PLA (polylactic acid), which is made from fermented plant starch like corn; starch blends, which combine starch with other biodegradable materials; PBAT (polybutylene adipate terephthalate), known for its flexibility and used in compostable bags; PHA (polyhydroxyalkanoates), produced by microorganisms and used in medical applications; cellulose films, made from plant cell walls and used in packaging; and PBS (polybutylene succinate), a versatile polymer used in both packaging and agriculture. These materials are designed to break down naturally, reducing environmental impact.
  
  
• End-Use
  Biodegradable polymers are used in various industries: packaging (like bags and containers), fibers (for textiles and clothing), agriculture (such as mulch films and plant pots), medical (including implants and drug delivery systems), electrical and electronics (for components and casings), automotive (for interior and exterior parts), and other miscellaneous applications. These uses help reduce environmental impact by providing sustainable alternatives to traditional plastics.

this report on global market for biodegradable polymers: global markets and technologies provides comprehensive insights and analysis, addressing the following key questions:

1. What is the projected market size and growth rate of the market?
   In terms of volume, the global biodegradable polymers market is projected to grow from 1,143.0 kilotons in 2022 to 4,140.0 kilotons in 2028 at a compound annual growth rate (CAGR) of 26.3% during the forecast period.
   
   
2. What are the key factors driving the growth of the market?
   The key factors driving the growth of the biodegradable polymers market include:
   
   • Growing investments for innovative biodegradable polymers
   • Increasing consumption of biodegradable polymers in packaging
     
     
3. What segments are covered in the market?
   The biodegradable polymers market is segmented based on type, end-use, and region. By type, it is segmented into six major segments: PLA, starch blends, PBAT, PHA, cellulose films, and PBS; by end-use, the market is segmented into packaging, fibers, agriculture, medical, electrical & electronics, automotive, and others.
   
   
4. By end-use, which segment will dominate the market by the end of 2028?
   The Packaging segment will dominate by the end of 2028.
   
   
5. Which region has the highest market share in the market?
   Asia-Pacific holds the highest share of the market. The changing buying behaviors of consumers and the rise in income among middle-class families are increasing biodegradable polymer consumption in Asia-Pacific countries. The growing demand from end-use industries and ease of availability of raw materials further create a massive demand for biodegradable polymers in the Asia-Pacific region during the forecast period.

Some of the Key Market Players Are:

• BASF SE
• BIOME BIOPLASTICS
• BIOTEC BIOLOGISCHE NATURVERPACKUNGEN GMBH & CO. KG.
• CARDIA BIOPLASTICS
• DANIMER SCIENTIFIC
• DSM
• EVONIK INDUSTRIES AG
• FKUR
• MITSUBISHI CHEMICAL GROUP CORP.
• NATUREWORKS LLC.
• NOVAMONT S.P.A.
• SULZER LTD.
• TORAY INDUSTRIES INC.
• TOTALENERGIES CORBION
• ZHEJIANG HISUN BIOMATERIALS CO. LTD.

Browse for more related reports:

Sustainable Biopolymers: Global Markets: refers to the worldwide market for eco-friendly, biodegradable plastics. These biopolymers are made from renewable resources and are designed to break down naturally, reducing environmental pollution. This market includes the production, sale, and use of these sustainable materials in various industries around the world.

Market Trends in the Plastics Industry: An Analysis of Developments by Key Plastics Manufacturers: An Analysis of Developments by Key Plastics Manufacturers means looking at how the plastics industry is changing and what major companies are doing. This analysis covers new products, technologies, and strategies that big plastics manufacturers are using to stay competitive and meet new demands, such as for more sustainable and eco-friendly materials.

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