Dublin, July 26, 2024 (GLOBE NEWSWIRE) -- The "Biodegradable Polymers: Global Markets and Technologies" report has been added to ResearchAndMarkets.com's offering.
The global market volumes of biodegradable polymers is expected to grow from 1,286 kilotons in 2023 and is projected to reach 4,140 kilotons by the end of 2029, at a compound annual growth rate (CAGR) of 26.3% during the forecast period of 2023 to 2028.
Report Scope
This report will include details about various types of biodegradable polymers and end-use industries for biodegradable polymer products. Estimated volumes are based on manufacturers' total production. Projected volume is in kilotons, unadjusted for inflation. The report includes comprehensive information regarding the biodegradable polymer industry and its end users.
The global biodegradable polymers market is segmented into the following categories:
- Type (PLA, starch blends, PBAT, PHA, cellulose films and PBS).
- End-use (packaging, fibers, agriculture, medical, electrical and electronics, automotive and others).
- Region (North America, Europe, Asia-Pacific, South America and Middle East and Africa).
The report includes:
- 44 data tables and 53 additional tables
- An analysis of the global markets for biodegradable polymers
- Analyses of the global market trends, with market data in volumetric terms for 2022, estimates for 2023, forecasts for 2027 and 2028, and projected CAGRs through 2028
- Estimate of the current market size in volumetric terms, and a market share analysis based on polymer type, end use industry and region
- Facts and figures pertaining to the market drivers, opportunities and challenges, emerging technologies and trends, industry regulations, and the global supply chain
- Discussion on modes of degradation of biodegradable polymers and effect of environmental exposure conditions and polymer structure on biodegradation
- Coverage of recent developments in the industry, including R&D activity and new products
- An analysis of recent patent activity
- Overview of the sustainability trends and ESG developments, with a focus on consumer attitudes, companies' ESG score rankings and their ESG practices
- Analysis of the competitive landscape, including major vendors' market shares, M&A activity, and venture funding outlook
- Profiles of the leading market players, including Biome Bioplastics, Danimer Scientific, Mitsubishi Chemical Group Corp., Sulzer Ltd., and TotalEnergies Corbion
Market Insights
In the last decade, public and government awareness of more sustainable products has grown significantly, directing future research into the next generation of materials and processes. Researchers, investors and policymakers can better evaluate the prospects for biodegradable polymers and grasp the changing characteristics by following the evolving trends of these emerging technologies. Poly(lactic acid) (PLA), poly(hydroxyalkanoates) (PHAs), poly(butylene succinate) (PBS) and poly(butylene adipateco- terephthalate) are the focus of this study to analyze the current research environment and forecast future development trends. The investigation drew the following conclusions:
- Both academia and industry pay close attention to PLA.
- PLA is currently the most promising technology in terms of technological maturity and strength.
PHAs, PBAT and PBS are all unclear technologies with relatively modest development potential. Biodegradable polymers are possible solutions to some environmental and economic problems. This is the most rapidly expanding bio-based product category. Several countries have taken steps to raise awareness about the use of biodegradable polymers. According to the EU's Plastics Strategy, all plastic packaging on the market after 2030 will be created from renewable raw materials and recycled using existing recycling infrastructure. China is embracing the trend and will increase production capacity to promote biodegradable polymers in packaging. These changes also foster bio-based alternatives and
bio-economies that are more inventive.
The global market for biodegradable polymers is expected to grow because of its high demand in a broad range of end-use industries across the globe. Biodegradable polymers have been commercially available for several years and it is still considered very early in the product life cycle. This market faces several major problems: relatively high prices and the lack of infrastructure for effective composting. The resolution of these factors is critical to biodegradable polymer market success.
The biodegradable polymer market is expected to continue high growth over the next five years dominated by packaging and followed by fibers/fabrics. Most of the remaining applications for biodegradable polymers will have considerable growth rates, partly because of low market numbers. The fibers/fabrics and agriculture markets will experience substantial growth, especially for hygiene and agricultural end-uses (mulching films, etc.).
The increasing use of biodegradable products, due to strict laws prohibiting the use of conventional plastic and growing awareness among the public of ill effects, boosts market growth. Demand is increasing due increased use of biodegradable materials as a result of stringent government regulations banning the use of synthetic plastics and the public perception of negative effects.
Companies Profiled
- BASF SE
- Biome Bioplastics
- Biotec Biologische Naturverpackungen GmbH & Co. KG
- Cardia Bioplastics
- Danimer Scientific
- DSM
- Evonik Industries AG
- FkuR
- Mitsubishi Chemical Group Corp.
- NatureWorks LLC
- Novamont S.p.A.
- Sulzer Ltd.
- Toray Industries Inc.
- Totalenergies Corbion
- Zhejiang Hisun Biomaterials Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/z01f3m
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