Biodegradable Polymers Market Growth Trends by Manufacturers, Regions, Type and Application Forecast to 2030 – Travel Adventure Cinema

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The Global biodegradable plastics market size should grow $27.2 billion by 2027 of $7.1 billion in 2020, at a CAGR of 25.1% between 2021 and 2027. A major factor driving the market research is favorable government policies, which promote bioplastics. Additionally, the attractive usage trends of flexible packaging are likely to drive the market growth. On the other hand, a higher price of biodegradable polymers than petroleum-based polymers is expected to hamper the market growth.

Improving consumer awareness of sustainable plastic solutions and increasing efforts to not use non-biodegradable plastics are contributing to the growth of the biodegradable plastics market. Commonly used petroleum-based plastics take decades to degrade or break down and sit in landfills for a long time. Biodegradable plastics break down faster than petroleum-based plastics when discarded and reabsorbed into the natural system. Moreover, the decomposition rate of biodegradable plastics by the activities of microorganisms is much faster than that of traditional plastics.

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Producers of biodegradable plastic have huge prospects in new end-use industries such as medicine, automotive and electronics, thanks to favorable government rules for green procurement policies and growing attention to durability. Biodegradable polymers are used in a variety of medical applications, including screws, implants and sewing materials, with manufacturers investing heavily in R&D. Medical gadgets and equipment are made from biodegradable polymers like bio-PBS and PLA. In the automotive sector, biodegradable polymers are used in tires using starch-based resources to minimize fuel consumption. They are also used to make electrical equipment more cost effective and efficient. The packaging application is expected to experience significant growth. Recyclable mulch films have widespread application in the agricultural industry. Food catering is a highly demanded and important application of biodegradable plastics, including cutlery, cups and trays.

Global Biodegradable Polymers Market Dynamics

Drivers: Government directives favoring bioplastics

The major driver of the biodegradable polymers market is the environmental dilemma caused by reaching high levels of greenhouse gas emissions into the atmosphere. In addition, the dumping of non-degradable waste in landfills and the oceans harms the environment. Additionally, fluctuating oil prices and changing laws on petroleum-based plastics have helped to accelerate the demand for biodegradable polymers.

To reduce land and air pollution caused by non-biodegradable plastics, governments around the world have put in place many regulations and policies regarding the use of conventional synthetic polymers. Moreover, they have promoted the use of ecological and biodegradable materials for the production of polymers. The manufacturing costs of biopolymers are decreasing due to technological changes and increasing availability of raw materials. It also helps many countries reduce their dependence on oil from foreign sources. Biopolymers are non-toxic and are easier to recycle. As a result, they take less time to decompose, which helps protect the environment.

Cons: higher price compared to petroleum-based polymers

The main reason for the wide adoption of any product in the market is the competitive prices offered for its substitutes. The widespread adoption of the product depends on the low cost of the product. The demand for cheaper substitutes is still prevalent, and in many cases the cost outweighs the benefits offered by the product. At the same time, new products are usually more expensive than their current substitutes. Over time, raw material costs and manufacturing costs begin to drop, increasing the product’s competitiveness in the market. Economies of scale and public awareness of the product play a crucial role in the price of the product in the market.

The production of raw materials for biodegradable bio-based polymers requires land for cultivation and recycling. In addition, the production of raw materials is expected to pose a challenge for the biodegradable polymers market. The use of chemicals and the energy required to grow these crops increases investments and leaves environmental footprints through the use of organic fertilizers, pesticides and raw material processing.

Report scope

The study categorizes the biodegradable polymers market on the basis of quality type and application regionally and globally.

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Outlook by Category Type (Sales, USD Million, 2017-2027)

  • Starch-based plastics
  • polylactic acid
  • Polyhydroxy Alkanoates
  • Polyesters
  • Cellulose derivatives

By End-Use Outlook (Sales, USD Million, 2017-2027)

  • Agriculture
  • Textile
  • Consumer goods
  • Packaging
  • Health care
  • Other end user industries

Outlook by Region (Sales, USD Million, 2017-2027)

  • North America (United States, Canada, Mexico)
  • South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
  • Asia-Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia-Pacific)
  • The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA)

The starch-based plastics segment is expected to account for the largest market share by quality type

On the basis of quality type, the global biodegradable polymers market is divided into starch-based plastics, polylactic acid, polyhydroxyalkanoates, polyesters and cellulose derivatives. In 2020, the starch-based plastics segment accounted for the largest market share of 40.7% in the global biodegradable polymers market. Starch is the main carbohydrate storage product of higher plants. Starch is a common and easily obtained natural polymer, making it an attractive option as a potential bio-based alternative to fossil-derived polymers. Due to its low cost and availability, starch has been incorporated into a variety of products. Starch polymers can be extracted from corn, potatoes, rice, barley, sorghum and wheat. The main source of starch for industrial and food purposes is corn. Corn is one of the main raw materials used in the production of starch-based biodegradable polymers. This is now increasingly used as a substitute for conventional petroleum-based plastics.

Increasing environmental regulations and other government initiatives are contributing to the growing use of starch-based biodegradable polymers in Asia-Pacific. In addition, North America is also expected to experience considerable growth in the use of starch-based biodegradable polymers, owing to its growing demand in primarily flexible and rigid packaging, consumer goods, coatings and adhesives, agriculture and horticulture, etc.

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Asia-Pacific accounts for the highest CAGR during the forecast period

Based on regions, the global biodegradable polymers market has been segmented into North America, Asia-Pacific, Europe, South America, and Middle East & Africa. Globally, Asia Pacific is estimated to hold the highest CAGR of 29.5% in the global biodegradable polymers market during the forecast period. The region includes countries such as China, India, Japan, South Korea, Australia, Southeast Asia and the rest of Asia-Pacific. The growth of the region is mainly due to the strong economic growth of emerging national countries such as China, Indonesia, Malaysia and India.

Due to improving living standards, per capita income and population, China has become one of the fastest growing economies in the world, with virtually every end-user sector growing as well. . However, due to turbulent international trade and unfavorable geopolitical events, the growth rate is expected to slow in the early years of the forecast period. But growth is expected to accelerate in the later part of the forecast period given favorable conditions and relationships going forward.

Main market players

The global biodegradable polymers market is consolidated with the market leader in each product area controlling a significant share of the market. NatureWorks LLC is the market leader in polylactic acid products and Novamont SpA is the leading manufacturer of biodegradable starch-based polymers. Other key market players are BASF SE, BIOTEC, Cardia Bioplastics, DuPont, Eastman Chemical Company, FKuR Kunststoff GmbH, Merck KGaA, Mitsubishi Chemical Holdings Corporation, Natureworks LLC, Novamont SpA, Rodenburg Biopolymers, Ltd, Total Corbion, and UNITIKA LTD.

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