Global Biodegradable Plastic Market projected to reach $6.0 billion, By growing at a CAGR of 21.3% from 2020 to 2026

Press Release

Biodegradable plastic is a plant based plastic with no hazardous effects on the environment. It composed of petrochemical, renewable material and micro-organisms. The idea of biodegradable plastic reveals little or no degradation of plastic material over the period, causing least hazards to environment. Hence, plastic that is defined as biodegradable is made of molecule that can break down naturally by the action of micro-organisms. Some of the major known types of the biodegradable plastic includes, Poly(lactic Acid (PLA), Polybutylene adipate terephthalate (PBAT), Polybutylene Succinate (PBS), Polyhydroxyalkanoates (PHA) and Starch Blends.

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Key Players: BASF SE, DowDuPont Inc, Novamont S.p.A., Plantic, Natureworks, Corbion N.V., Biome Technologies plc, Eastman Chemical Company and Danimer Scientific.

he global biodegradable plastic market is in introductory phase of industry life cycle and is expected to explore new growth opportunities during the coming years. Some of the basic factors driving the demand for biodegradable plastic include governmental initiatives to eliminate single use plastic and strict regulatory outlook against the use of conventional plastic products. Industry trends are shifting toward bio based products to reduce dependence on conventional plastics. Biobased and biodegradable plastic is least toxic and causes no adverse effects environments. Hence, its demand is on the rise at significant pace.

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Moreover, most of manufacturers from each industry vertical are shifting toward use of biobased plastic due to pressure from regulatory bodies. Packaging textile and agriculture industries are being some of them. Such factors are largely impacting the growth of the global biodegradable market. On the other hand, the growth of the market is restrained by high cost of biodegradable plastic over its conventional counterparts. Growth opportunities in this market are promising which is projected to come from concept like corporate social responsibility and decreased dependence on synthetic resources.

Major highlights of this research report:

In-depth analysis of the degree of competition across the globe.

Global Biodegradable Plastic Market analysis through industry analysis tools such as SWOT and Porter’s five analysis.

Detailed elaboration on global market value, volume, and penetration.

Global Biodegradable Plastic Market growth projections.

Detailed description on development policies and plans.

Analytical study on drivers, restraints, opportunities, hindrances, inadequacies, challenges and strengths

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Table of Contents:

1 Executive Summary

2 Preface

3 Global Biodegradable Plastic Market Overview

4 Market Trend Analysis

5 Porters Five Force Analysis

6 Global Biodegradable Plastic Segmentation

7 Global Biodegradable Plastic Effect Factors Analysis

8 Competition by Manufacturers

9 Key Developments

10 Company Profiling

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