Biodegradable Plastics Market Size, Share, Segmentation, Trends, Demand, Key Manufacturers and Future Insights 2027 : NatureWorks, BASF SE, Total Corbion PLA

New York, NY -- (SBWire) -- 04/23/2021 --The global Biodegradable Plastics market is forecast to reach USD 9.85 Billion by 2027, according to a new report by Reports and Data. The production of biodegradable plastics is generally using renewable raw materials. The Biodegradable Plastics market is being fueled by constant regulations imposed on single-use plastics, due to the environmental concerns such as the occupation of space in landfills forever. These wastes are consisting of mostly toxic materials. The burning of these materials breeds toxicity in the environment; such factors promote biodegradable plastic use and result in high demand.

The increasing awareness among the masses has resulted in the adoption of eco-friendly technology, rising awareness of ill-effects of conventional plastics bringing about a revolutionary demand from the end-user. The packaging sector has seen the most significant switch to biodegradable plastic. The packaging sector needs to comply with stringent governmental regulations, which has resulted in substantial changes in the manufacturing and raw material of the packaging industry.

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The industry is facing specific challenges; there is no clear distinction between bio-degradable plastic, hence with the inclusion of non-biodegradable plastic in biodegradable landfills beats the purpose of biodegradability. The high cost of biodegradable plastics is one of the factors that may restrain the Biodegradable Plastics market growth. Considering the economic slowdown, the depleting disposable income may pose a threat to the growth of the Biodegradable Plastics market. Biodegradable plastics decompose over time, but they require specific conditions for decomposition, which may not be available in every landfill; this raises questions about biodegradable plastics' efficiency.

The COVID-19 impact:
The covid-19 situation has impacted the major economies of the world. The most damage is done to the supply chains, which were based on the importing of the goods. The manufacturing industry will be experiencing production cuts, due to the low demand for non-essential products, which will affect the biodegradable plastic in the sectors. Packaging will drive the growth of the Biodegradable Plastics market during the pandemic, due to strict rules of social distancing to minimize the Covid-19 impact will negatively impact the Biodegradable Plastics production. The economic slowdown as an aftereffect of the pandemic will be affecting the adoption of the Biodegradable Plastics market. The concerns regarding waste have shifted to concerns regarding the pandemic. The effective and strict economic reforms will determine the swift recovery of the Biodegradable Plastics market over the forecast period.

Key participants include:
- NatureWorks
- BASF SE
- Total Corbion PLA
- Mitsubishi Chemical Corporation
- Biome Bioplastics
- Bio-On
- Novamont S.P.A
- Plantic Technologies
- Danimer Scientific
- Toray Industries
- among others

For the purpose of the report, Reports and Data have segmented into the global Biodegradable Plastics market based-on type, end-use industry, and region:

Type Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)
- PLA
- Starch Blends
- Biodegradable Polyesters
- PHA
- Others

End-Use Industry Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)
- Packaging
- Agriculture
- Consumer Goods
- Others

Regional Outlook (Revenue, USD Million; Volume, Kilo Tons; 2017-2027)
- North America
o U.S
- Europe
o U.K
o France
- Asia Pacific
o China
o India
o Japan
- Middle East & Africa
- Latin America
o Brazil

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Further key findings from the report suggest
- Consumer goods will present itself to be a lucrative segment and will grow at a CAGR of 14.59%. The household appliances and electronic devices are increasingly adopting biodegradable plastics due to the strict government regulations in minimizing the piling up of e-waste, which is going to be a significant problem for the coming generations as it poses many health and environmental effects. Electronic devices such as circuit boards and casings use traditional forms of plastic.
- Starch-Based plastics are dominating the largest share in the Biodegradable Plastics market. It offers several benefits to the environment, such as reducing the carbon footprint in traditional resins; it provides high bio-degradability. They are increasingly being blended with biopolymers owing to low toxicity, biocompatibility, and mechanical properties. More than 75% of organic material on earth is in the for polysaccharides. In general, corn is considered the go-to source for starch production. Starch employs the wet-milling process as a production technique.
- The European region will be the fastest-growing market. The formulation of rules and regulations to transition to a low-carbon and circular economy will help the Biodegradable Plastics market growth in the region. The European region decided to decrease the consumption of plastic bags in the region by 80%, which has resulted in the widespread use of biodegradable flexible and rigid packaging in the region.
- In December 2018, Total Cabion NV started production at Rayon, Thailand. It would be a significant step in developing the biodegradable plastic market in the Asia Pacific, the plant has a production capacity of 75KT. It produces PLA and PDLA from locally grown non-GMO sugarcane.

Table Of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Biodegradable Plastics Market Segmentation & Impact Analysis
4.1. Biodegradable Plastics Market Material Segmentation Analysis
……
Chapter 9. Company Profiles
9.1. NatureWorks
9.1.1. Company Overview
9.1.2. Financial Performance
9.1.3. Technology Insights
9.1.4. Strategic Initiatives
9.2. BASF SE
9.2.1. Company Overview
9.2.2. Financial Performance
9.2.3. Technology Insights
9.2.4. Strategic Initiatives
9.3. Total Corbion PLA
9.3.1. Company Overview
9.3.2. Financial Performance
9.3.3. Technology Insights
9.3.4. Strategic Initiatives
9.4. Mitsubishi Chemical Corporation
9.4.1. Company Overview
9.4.2. Financial Performance
9.4.3. Technology Insights
9.4.4. Strategic Initiatives
9.5. Biome Bioplastics
9.5.1. Company Overview
9.5.2. Financial Performance
Continued…..

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