According to a market report by Lucintel, the future of the biodegradable plastics market looks promising with opportunities in the packaging & bag, consumer goods, and agriculture & horticulture industries. The biodegradable plastics market is expected to grow with a CAGR of 12% from 2019 to 2024. The major growth drivers for this market are increasing demand for renewable & bio-based raw materials, government regulations, and shift in consumer preferences towards eco-friendly packaging.
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In this market, PLA, starch blends, PCL, regenerated cellulose, PBS, and PHA are the major material type. PLA is the largest segment of the biodegradable plastic market.
Within the biodegradable plastics market, packaging & bags, consumer goods, and agriculture & horticulture are the major end use industries. Packaging & bags is the largest end use segment of the biodegradable plastics.
Packaging, fibers, agriculture, and injection molding are the major applications of the biodegradable plastics market.
Europe will remain the largest market over the forecast period due to strict environmental regulations.
Metabolix Inc., BASF SE, Corbion NV, Natureworks LLC, Biome Technologies PLC, Mitsubishi Chemical Corp., Plantic Technologies Limited, Bio-On SRL., Meredian Inc., and Tianan Biologic Materials Co. Ltd. are among the major manufacturers of biodegradable plastics.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the biodegradable plastics market by application, material type, end use industry, and region. Lucintel has prepared a comprehensive research report entitled "Biodegradable Plastics Market 2019-2024: Trends, Forecast, and Opportunity Analysis". This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the biodegradable plastics market by application, material type, end use industry, and region as follows:
By Material Type [$M shipment analysis for 2013 – 2024]:
PLA
Starch Blends
PCL
Regenerated Cellulose
PBS
PHA
By Application [$M shipment analysis for 2013 – 2024]:
Packaging
Fibers
Agriculture
Injection Molding
Others
By End Use Industry [$M shipment analysis for 2013 – 2024]:
Packaging & Bags
Consumer Goods
Agriculture & Horticulture
By Region [$M shipment analysis for 2013 – 2024]:
North America
United States
Canada
Mexico
Europe
Germany
Spain
France
United Kingdom
Russia
Asia Pacific
China
Japan
India
South Korea
Thailand
The Rest of the World
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/biodegradable-plastics-market.aspx or helpdesk@lucintel.com.
About Lucintel
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