New Research: Lucintel Predicts a Bright Future for the Biodegradable Plastics Market

Did you know that Lucintel recently published a market research report entitled “Technology Landscape, Trends and Opportunities in the Global Biodegradable Plastics Market”? 

This market report for biodegradable plastics identifies and predicts future opportunities for growth in biodegradable plastics market for various segments as well as for various regions such as North America, Europe, Asia Pacific, and the Rest of the World. In biodegradable plastics market, various technologies, such as oxo-degradable technology, bioplastics or bio-based plastics, and biodegradable plastics from biosphere are used in the packaging, agriculture and horticulture, pharmaceutical, sports and leisure, automotive, construction, and textile applications.

According to Lucintel’s market report, the rising wave of new technologies, such as bio-based and oxo-degradable plastics are creating significant potential in packaging, pharmaceutical, and agriculture applications, to reduce VOC emission, and plastic waste. Some of the dominant players in the biodegradable plastics market include NatureWorks, BASF, Total Corbion PLA, Mitsubishi Chemical, Biome Bioplastics, Plantic Technologies, Bio-On, Danimer Scientific, Novamont, and Toray Industries.

There are some interesting developments in biodegradable plastics market as competition heats up and players try to increase their market share. Increasing use of biodegradable plastics in packaging, agriculture, and automotive applications, stringent government regulations, and rising awareness about plastic waste are creating new opportunities for various biodegradable plastics technologies.

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