Adroit Market Research published a study on the “Global Biodegradable Polymers Market Size 2017 By Production (Starch-based, Polylactic acid (PLA), Polyhydroxyalkanoates (PHA), Synthetic), By Application (Packaging, Loose fill, Bags and sacks, Fibre, Others), By Region and Forecast 2018 to 2025”. The global biodegradable Polymers market size is estimated based on the ongoing trend of bioplastic and consumption patterns of the bioPolymerss across the globe. The report also provides the various key strategies adopted by the leading players to strengthen their distribution channels. The global biodegradable Polymers market has also been evaluated based on an extensive value chain and a better understanding of Porter’s Five Forces analysis for the industry players’ decision making.
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The global biodegradable polymers market is projected to reach more than 800 kilo tons by 2025. Rising concern regarding plastic waste and declining biodegradable Polymers prices are expected to be the key market drivers. High-income countries including most of Europe, North America, Japan, Australia, and South Korea have an effective plastic waste management system in place. However, low- and middle-income countries in South Asia and Africa have inadequate disposal solutions of plastic waste. Growing development of biodegradable Polymerss with equivalent or better physical characteristics as conventional Polymerss is expected to increase demand over the coming years.
Growing consumer demand for sustainable packaging is expected to result in the market gaining traction over the coming years. Biodegradable packaging presents an opportunity for manufacturers to differentiate their offerings and to show a more eco-friendly image to end-user industries. In order to address the growing demand, manufacturers are introducing new products to attract consumers. For instance, NatureWorks developed new generation polylactic acid for microwavable packaging.
Europe and North America together accounted for 78.6% of the global biodegradable Polymers market share in 2017. Presence of well-established producers followed by stringent government regulations is expected to increase market traction over the coming years.
The global biodegradable Polymers industry is competitive in nature. Leading producers operating in this industry are NatureWorks, BASF, Total Corbion PLA, Mitsubishi Chemical Corporation, Biome Bioplastics, weforyou Group, Synbra Technology, Novamont, and Arkema. Over the past few years, consumption of biodegradable Polymers has been less than production by virtue of high prices as compared to conventional Polymerss. However, declining starch and polylactic acid prices followed by a plastic ban in Europe and North America have increased manufacturers attention towards biodegradable Polymerss. Growing packaging industry followed by eco-friendly characteristics of biodegradable Polymerss is expected to gain market expansion over the coming years.
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Well-established vertically integrated chemical manufacturers operating in this industry are adopting M&A and production expansion strategies in order to expand their presence and remain competitive in the industry. For instance, in June 2018, Bio-on, operating in bioplastic production opened its first biodegradable and natural bioplastic production plant in Italy. This plant is equipped with advanced research laboratories and the latest technologies. In addition, in September 2018, Kaneka Corporation, a Japanese company engaged in the production of biodegradable Polymers, announced production expansion of Kaneka Biodegradable Polymers PHBH.
Apart from facility expansion, manufacturers are focussing more on new product development strategy in order to cater to growing demand for packaging, medical, and other industrial applications. For instance, in November 2017, Aquapak Polymerss Ltd introduced new biodegradable Polymers Hydropol. Highly flexible, water soluble, recyclable, biodegradable, FDA approved, and non-toxic characteristics are expected to gain popularity in the packaging industry.
Key Segments of the global biodegradable polymers market
Product Overview, 2015-2025 (Kilo Tons, USD Million)
Starch based
Polylactic acid (PLA)
Polyhydroxyalkanoates (PHA)
Synthetic
Application Overview, 2015-2025 (Kilo Tons, USD Million)
Packaging
Loose fill
Bags and sacks
Fibre
Others
Regional Overview, 2015-2025 (Kilo Tons, USD Million)
North America
U.S.
Europe
Germany
Italy
France
UK
Spain
Poland
Asia-Pacific
India
China
Japan
South Korea
Rest of the World
Brazil
Saudi Arabia
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Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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