Synthetic and Bio-Based Biodegradable Plastics Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2027, at CAGR of 20.7 % during forecast period of 2019 to 2027.
The total production capacity of bio-based and biodegradable plastics globally in 2018 was 2.06 MT. Determined bio-based materials such as bio-PP and bio-PE are fully biodegradable. Novel bio-based plastics, such as PLA, cannot be recycled together with conventional plastics. The biodegradable plastics are used in the consumer electronics, gastronomy, agriculture, packaging and automotive industries.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Synthetic and Bio-Based Biodegradable Plastics Market Drivers and Restrains
The Synthetic and Bio-Based Biodegradable Plastics Market has witnessed considerable growth in recent years because the environmental hazard caused by using non-degradable plastics and safety concerns related pollution free environment. Some other factors which are driving the growth of Synthetic and Bio-Based Biodegradable Plastics Market such as growing number of researches, government support in form of tax refunds to green packaging companies and growing consumer awareness for decreasing waste.
In recent years, consumers have become more aware about the hazards related with the usage of conventional plastics and moreover, the packaging industry is also fluctuating towards green packaging catering to the necessity of consumers. As packaging industry is the major market for plastics so tend to have positive impact on both degradable and non-degradable plastics market. Manufacturers in the Synthetic and Bio-Based Biodegradable Plastics are focusing on competitive pricing as the strategy to capture significant market share. Moreover, strategic mergers and acquisitions and technological innovations are also the key focus areas of the manufacturers.
Synthetic and Bio-Based Biodegradable Plastics Market Segmentation Analysis
The synthetic and bio based biodegradable plastics is segmented by types as synthetic biodegradable plastics and bio-based biodegradable plastics. The synthetic biodegradable plastics is further segmented into polycaprolactone (PCL) and polybutylene succinate (PBS). The bio based biodegradable plastics are classified into starch based plastics, polylactic acid (PLA) and polyhydroxyalkanoates (PHA). The synthetic and bio based biodegradable plastics is categorized by application as packaging, transportation, agriculture, electronics, textiles and others. It is estimated that 60 % of this material is used for plastic packaging industry where most of the material is found in PET bottles and food waste bags. The packing industry segment is expected to grow at the highest XX% CAGR during the forecast period. Multinational companies are proactively discovering the new opportunities in the polyhydroxyalkanoates (PHA) segment by adopting strategies such as the acquisition of start-up companies and forming deal to establish their presence in the market.
Synthetic and Bio-Based Biodegradable Plastics Regional Analysis
Among all the regions, the Europe had the XX% market share in 2018 and is projected to lead the market during the forecast period, because of adopt bio-plastics over conventional plastic to convert into a proper waste management and European association is promoting government and environmental policies, regarding sustainability and bio-degradability, which is a major factor that drives the growth of the Synthetic and Bio-Based Biodegradable Plastics Market in Europe. Increase mandate for bio-plastic products among Europe customers stimulates the growth of Synthetic and Bio-Based Biodegradable Plastics products.
Asia Pacific is the second largest market in the Synthetic and Bio-Based Biodegradable Plastics market and accounted for XX% shares in 2018, nearly follow Europe in terms of profits.
The objective of the report is to present comprehensive analysis of Synthetic and Bio-Based Biodegradable Plastics Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.
The report also helps in understanding Synthetic and Bio-Based Biodegradable Plastics Market dynamics, structure by analyzing the market segments, and project the Synthetic and Bio-Based Biodegradable Plastics Market size. Clear representation of competitive analysis of key players by Synthetic and Bio-Based Biodegradable Plastics Type, price, financial position, product portfolio, growth strategies, and regional presence in the Synthetic and Bio-Based Biodegradable Plastics Market make the report investor’s guide.
Scope of the Synthetic and Bio-Based Biodegradable Plastics Market
Synthetic and Bio-Based Biodegradable Plastics Market, by Types
• Polycaprolactone (PCL)
• Polybutylene Succinate (PBS)
• Starch based plastics
• Poly Lactic acid (PLA)
• Polyhydroxyalkanoates (PHA)
Synthetic and Bio-Based Biodegradable Plastics Market, by Applications
• Packaging
• Transportation
• Agriculture
• Electronics
• Textiles
• Others
Synthetic and Bio-Based Biodegradable Plastics Market, by Region
• Asia Pacific
• North America
• Europe
• Latin America
• Middle East Africa
Synthetic and Bio-Based Biodegradable Plastics Market, Major Players
• Vegeplast SAS
• Cereplast Inc
• Natureworks LLC
• Mitsubishi Chemical Corporation
• Novamont SPA
• Biome Technologies PLC
• Futerro SA
• BIOP Biopolymer Technologies AG
• BASF AG
• Kaneka Corporation
• National Starch
• Natureworks LLC
• Novamont SPA
• Purac
• PyramidBioplastics Guben GMBH
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