Biodegradable plastics have found wide acceptance in various industries because of low carbon footprints and compostability. On the basis of application areas, the market of biodegradable plastics can be broadly segmented into packaging, fibers, agriculture, and injection molding. Though packaging is the major application of biodegradable plastics and serves an array of industries due to their desirable properties, injection molding is an emerging market and the demand for the same is growing at a high pace.
The North American region is the biggest market of biodegradable plastics, accounting for more than one-third of the total global demand. There is a lot of scope in the Asia-Pacific market as well due to increasing manufacturing base, which is the important end consumer of polylactic acid (PLA) and starch based plastics. With the emerging technological developments and innovations in the region, the demand for biodegradable polymer may further augment at a higher pace.
Currently, the penetration of biodegradable plastics is increasing in packaging and injection molding. The key drivers for increasing demand of biodegradable plastics are favorable government outlook toward green procurement policies, shift of consumer toward green packaging, and compostability of biodegradable plastics. The technological developments and innovations are identified as key strategies to expand the biodegradable plastics market.
This study on biodegradable plastics market estimates its global demand and market value for 2013 and projects the expected demand and market value of the same by 2019. As a part of the quantitative analysis, the study segments the global market by types and applications at country level with current market estimation and forecast till 2019. The countries covered in the report are the U.S., Canada, China, Japan, Germany, Italy, Spain, France, and Brazil. The segmentation by type includes PLA, PHA, PBS, starch-based plastics, regenerated cellulose, and PCL while on the basis of its application, the segmentation includes packaging, fibers, agriculture, injection molding, and others.
As a part of qualitative analysis, the research provides report with a comprehensive review of key market drivers, restraints, opportunities, winning imperatives, and key issues in the market.
It also includes company profiling and competitive strategies adopted by various market players including NatureWorks LLC (U.S.), Novamont S.p.A. (Italy), Synbra Technology bv (Netherland), Metabolix Inc. (U.S.), Meredian Inc. (U.S.), Tianjin Green Bio Science Ltd. (China), Corbion nv (Netherland), Mitushbhi Chemical Corporation (Japan), Plantic Technologies Ltd. (Australia), BASF SE (Germany), Bioome Technology Plc (U.K.), Bio-On Srl (Italy), and Innovia Films Ltd. (U.K.).