Global Biodegradable Plastic Market: Demand Analysis and Growth Forecast
Globally, 500 billion plastic bags are used by human and there is 13 million tonnes of plastic leakage into the ocean every year. In order to control the environmental concerns of conventional plastics such as air, water, and soil pollution, biodegradable plastics are invented. Biodegradable plastic decays naturally in the environment and it is the collection of bio-plastics that are made from renewable raw materials. As per the findings of a newly published market research report by IndustryARC, the global Biodegradable plastic market size was around $8 billion in 2018, and the demand will be growing at an impressive CAGR of around 11% during the forecast period of 2019 to 2025.
Increasing demand for biodegradable plastics from packaging industry, and use in medical applications is driving the growth of the biodegradable plastics market. Biodegradable plastics can be metabolized in human body through hydrolysis catalyzed by involving enzymes. Some biodegradable polymers are also designed for the use of slow release drug delivery and in the treatment of cancer for delivering the vaccines.
Browse 53 Market Tables, 176 Figures spread through 149 slides and an in-depth TOC “Biodegradable Plastic Market (2019 - 2025)”
Global Biodegradable Plastic Market: Leading Segments
Analyst of the report says that packaging application is dominating among other diverse applications catered by the biodegradable plastic marketplace. The segment is estimated to grow with a good CAGR around 5% during the forecast period 2019-2025. The latest innovation of Aronax Technologies is the new-found demand for recyclable packaging. It mainly uses magnetic additive material for creating better moisture and air insulation. Sensitive products such as coffee and medicines are protected using this packaging material. Owing to latest innovations, the application of biodegradable plastics in packaging is increasing massively. APAC is estimated as the key region for the growth against other regions such as North America, and Europe with the maximum share of 35% during the forecast period.
Global Biodegradable Plastic Market: Trends
- Edible Bio-plastic Food Wrappers Enter the Market –
- Alternative to Plastic Straws Using Avocado pits –
- Manufacturing of Bio plastics by Shrimps –
Global Biodegradable Plastic Market: Competitive Landscape
Some of the key players operating in the biodegradable plastic market are, Mitsubishi Chemical Corporation, Cargill Incorporated and NatureWorks. Cargill produces various kind of bio degradable polymers in order to reduce environmental impacts and to improve the communities where humans live and work. Its Agri-pure AP-406 bio solvent product is an alternative for the usage of petroleum based driven solvents and other light mineral oils. Due to its lowest water hazard rating WGK 1, it is freely biodegradable.
Talk to one of our sales representative about the full report by providing your details in the link below:
Biodegradable Bag Market: By Product Type (Oxo-Biodegradable, Hydro-Biodegradable, Others); By Application (Food and Beverage, Pharmaceutical, Packaging, Agriculture and Composting, Textile, Others); By Geography Forecast Period (2018 2024)
Biodegradable Packaging Market: By Type (Paper & Cardboard, Corn Starch, Bubble Wrap, Biodegradable Plastic, Others) By Application (Food & Beverage, Pharmaceutical, Biomedical, Home Care Packaging, Cosmetics, Others) By Geography - Forecast(2018 - 2023)
IndustryARC is a research and consulting firm that publishes more than 500 reports annually in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.
IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications of the Market. Our Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets. Our strong analyst team enables us to meet the client research needs at a very quick speed with a variety of options for your business.
We look forward to supporting the client to be able to better address customer needs; stay ahead in the market; become the top competitor and get real-time recommendations on business strategies and deals. Contact us to find out how we can help you today.
Mr. Venkateshwar Reddy
Business Development Manager
Email: [email protected]
Contact Sales: 1-614-588-8538 (Ext-101)
Connect with us on LinkedIn - https://www.linkedin.com/company/industryarc