It is important to know Biodegradable plastics market definition, classifications, applications, engagements and market trends to know how the industry is going to be in the Forecast years 2019-2026. This report on Global Biodegradable plastics market helps understand what the global trends are and what the key players and brands are doing when it comes to their recent research, joint ventures, merges, product launches and accusations. This report also contains SWOT analysis for the Biodegradable plastics market which points at what the drivers and restrains are. Some of the major players operating global Biodegradable plastics market are TianAn Biologic Materials Co. Ltd., Synbra Technology bv, FKuR Kunststoff GmbH, BASF SE, TORAY INDUSTRIES INC., Newlight Technologies Inc.,
Global Biodegradable Plastics Market is expected to rise from its initial estimated value of USD 3.15 billion in 2018 to an estimated value of USD 9.30 billion by 2026, registering a CAGR of 14.5% in the forecast period of 2019-2026. This rise in market value can be attributed to the rising amount of plastic wastes and concern for the environment and global warming
Biodegradable plastics are known as the eco-friendly decomposable by the living organisms (bacteria & microorganisms). These plastics are basically formed with two methods either from renewable raw materials or petrochemicals inclusive of biodegradable additives resulting in an improved biodegradation process.
Biodegradable and compostable plastics are different and not similar as some portion of the population is confused about, biodegradable plastics are those which can be broken down by the living organisms while compostable are those which can be resulted in an end product of compost or humus.
Global Biodegradable Plastics Market, By Types (PLA, Starch Blends, Biodegradable Polyesters, PHA, Others), Application (Packaging & Bags, Consumer Goods, Agriculture & Horticulture, Textile, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Key Developments in the Market:
- In November 2017, Evonik Industries AG announced the acquisition of 3M’s concentrated solid additives business which is expected to advance the technological base and product portfolio capabilities of Evonik in the plastics business.
- In December 2018, Total Corbion PLA announced the introduction of its operations of its 75,000 tonnes per year polylactic acid (PLA) plant in Rayong, Thailand. The initialization of operations is expected to expand the production capabilities and positively impact the area surrounding the plant.
- Rising awareness programs and adoption of eco-friendly plastics due to the increasing amount of plastic wastes and concern for the global warming is expected to drive the market growth
- Increased demand from a number of applicable industries for the product is also expected to drive the market growth
Top Key Players: Global Biodegradable Plastics Market
NatureWorks LLC, Perstorp Orgnr, K.D. FEDDERSEN, API S.p.A, Indochine Bio Plastiques (ICBP) Sdn. Bhd., Evonik Industries AG,Total Corbion PLA, Mitsubishi Chemical Corporation, Biome Bioplastics, Plantic, BIO-ON, Danimer Scientific, Novamont S.p.A., CLONDALKIN GROUP, and Cargill Incorporated.
Global Biodegradable Plastics Market report Synopsis
- To analyze the market size of the market and infer the key trends from it.
- Industry Chain Suppliers of Global Biodegradable Plastics Market with Contact Information
- The key findings and recommendations highlight crucial progressive industry trends in the Biodegradable Plastics Market, thereby allowing players to develop effective long term strategies
- To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the Global Biodegradable Plastics Market
- Comprehensive quantitative analysis of the industry is provided for the period of 2019-2026 to assist stakeholders to capitalize on the prevailing market opportunities.
Market Restraints: Global Biodegradable Plastics Market
- Higher product and production costs is expected to restrain the market growth
- Absence of any distinct differences between the waste of biodegradable plastics and conventional plastics causes a number of complications in decomposition and recycling, this factor is expected to restrain the market growth
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved
Competitive Analysis: Global Biodegradable Plastics Market
Global biodegradable plastics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of biodegradable plastics market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Find More Competitor in TOC with Profile Overview Share Growth Analysis @ https://www.databridgemarketresearch.com/toc/?dbmr=global-biodegradable-plastics-market
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