Biodegradable Polymers Market

Global Biodegradable polymers Market Report: By Type (Polylactic Acid, Starch Blends, Biodegradable Polyesters, Polyhydroxy Alkanoates, Cellulose Derivatives), By Application Type (Packing Bags, Consumer Goods, Agriculture, Textile, Healthcare, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle-East and Africa) Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2023-2031.

Chemical & Material | November 2023 | Report ID: EMR00292 | Pages: 317

Global biodegradable polymers market is predicted to reach approximately USD 56.08 billion by 2031, at a CAGR of 18.60% from 2022 to 2031.

         The Global Biodegradable polymers market refers to the type of polymer that can be completely degraded by the influence of microorganisms found in the environment. Bio-polymers found in the bio-plastics sector come from the bio-based sources such as sugar cane corn or sugar beet. The ability of biopolymers to breakdown into compounds that can be absorbed by nature, such as water, carbon dioxide, or compost, through the action of microorganisms prevalent in the environment is referred to as biodegradability. The market is driven by increasing demand in the packaging industry and growing consumer demands due to industrialization and urbanization.

 

 

 

Global biodegradable polymers report scope and segmentation.

Report Attribute

Details

Estimated Market Value (2022)

12.08 billion

Projected Market Value (2031)

56.08 billion

Base Year

2022

Forecast Years

2023 – 2031

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Based on By Technology Type, By Product Type, By Application Type& Region.

Segments Covered

By Type, By Application & By Region.

Forecast Units

Value (USD Billion or Million), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2023 to 2031.

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others.

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

Global Biodegradable polymers Dynamics

The market dynamics of biodegradable polymers are influenced by several factors. The increasing demand in the packaging industry and growing consumer demands due to industrialization and urbanization drives the market growth. However, higher price of biodegradable polymers act as restraints. Opportunities arise from the increasing investments on sustainable packaging. The nature of competition is highly intense, with various companies striving to gain a competitive edge through innovation and customer-centric offerings. As the market evolves and consumer demand continues to rise, the dynamics of the biodegradable polymers market are expected to remain dynamic and highly competitive.

 

Global Biodegradable polymers Drivers

  • Increasing demand in the packaging industry

The global biodegradable polymers market is being driven by the increasing demand in the packaging industry. Biodegradable polymers are a more environmentally friendly alternative to typical petroleum-based plastics, and they are gaining popularity in the packaging business due to the government regulations to reduce the use of single use plastics and promote sustainable packaging solutions. Additionally, consumers are opting for more sustainable packaging solutions as they are becoming more aware of the environmental impact of the harmful plastic packaging. As a result, due to the increasing demand from packaging industry the biodegradable polymers market is expected to grow during the forecast period.

  • Growing consumer demands due to industrialization and urbanization

The global Biodegradable polymers market is being fuelled by the growing consumer demands due to industrialization and urbanization. Population, income, and consumption are rising as a result of industrialization and urbanization. This increases demand for a wide range of goods and services, including packing materials. Biodegradable polymers are utilized in a range of packaging applications, including food packaging, beverage packaging, and personal care packaging. Thus, with the growing consumer demands due to industrialization and urbanization the biodegradable polymers market is expected to grow during the forecast period.

 

Restraints:

  • Higher price of Biodegradable Polymers

The global Biodegradable polymers market faces a restraint in the form of higher price of biodegradable polymers. Biodegradable polymers are typically more expensive than standard petroleum-based plastics. This is due to the fact that biodegradable polymers are generated from renewable resources such as maize starch and sugarcane, which are more expensive than crude oil. Furthermore, the synthesis of biodegradable polymers is generally more difficult and requires specialized equipment, which might add to the greater cost. Thus, the higher price of biodegradable polymers acts a major restraint in the global biodegradable polymers market.

 

Opportunities:

  • Investments on sustainable packaging

The global biodegradable polymers market presents significant opportunities driven by the rising investments on sustainable packaging. The investments in technological advancements to develop new and improved biodegradable polymers products with improved properties, such as higher strength, better biodegradability, and lower cost makes the biodegradable polymers more competitive. The companies in the industry who can develop and manufacture high-quality, low-cost biodegradable polymers are well-positioned to prosper in the expanding market. Thus, with the increasing investments on sustainable packaging there is a significant opportunity in the global biodegradable polymers market during the forecast period.

 

Segment Overview

By Type

The market for Biodegradable polymers is segmented based on type into five categories: Polylactic Acid, Starch Blends, Polyhydroxy Alkanoates, Cellulose Derivatives, Others (polybutylene succinate (PBS), polycaprolactone (PCL), and poly (glycolic acid) (PGA)). Starch blends are dominating the market in the biodegradable polymers market. Starch is a renewable material that can be used to make biodegradable plastics like polylactic acid (PLA) and polyhydroxyalkanoates (PHAs). Polylactic acid (PLA) is a biodegradable material made from renewable sources like corn starch and sugarcane. PLA is compostable and recyclable, making it a more environmentally friendly alternative to traditional plastics. Polyhydroxy Alkanoates (PHAs) are a type of biodegradable plastic that microorganisms generate. PHAs are biodegradable in a variety of environments, making them an adaptable material for a wide range of applications. Cellulose derivatives are biodegradable plastics made from cellulose, the primary constituent of plant cell walls. Because cellulose derivatives are biodegradable and compostable, they offer a more environmentally friendly alternative to standard plastics. Other biodegradable polymers include polybutylene succinate (PBS), polycaprolactone (PCL), and poly(glycolic acid) (PGA). These polymers are used in a variety of applications, such as food packaging, medical devices, and agricultural products. This segmentation allows consumers to choose the type of biodegradable polymers that best suits their specific needs, preferences, and budgetary constraints.

 

By Application

The Biodegradable polymers market is segmented based on application into packaging, agriculture, healthcare and others. Packaging is the dominant segment in the global biodegradable polymers market. Biodegradable polymers are utilized in a range of packaging applications, including food packaging, beverage packaging, and agricultural packaging.  Agriculture is another important application for biodegradable polymers. Biodegradable polymers are employed in a range of agricultural applications, including mulch films, seed coatings, and erosion control. Biodegradable polymers are also employed in a number of medical devices such as sutures, stents, and drug delivery systems. Biodegradable polymers are ideal for medical devices since they are biodegradable, biocompatible, and non-toxic. Consumer products, textiles, and electronics are some of the other applications for biodegradable polymers. Biodegradable polymers are found in a wide range of consumer products, including toys, kitchenware, and disposable dinnerware. Biodegradable polymers are also used to improve the performance and sustainability of textiles and electronics. This market segmentation enables tailored solutions for biodegradable polymers applications, catering to specific requirements and preferences.

 

Global biodegradable polymers overview by region.

Europe

Europe currently dominates the biodegradable polymers market, and this dominance is expected to continue in the future. The region regulations and policies to address plastic waste and promote sustainable practices is restricting the use of single use plastic use products and promoting biodegradable plastics. As the demand for biodegradable polymers continues to rise, Europe is projected to maintain its leading position in the market in the coming years.

 

 

 

 

Asia Pacific

Asia Pacific is experiencing significant growth in the biodegradable polymer market, with a significant Compound Annual Growth Rate (CAGR). The region increasing awareness of the environmental impact from traditional plastics and the growing demand for compostable and recyclable plastics is driving the market growth. With the continuous advancements and the rising demand in biodegradable polymers technology, Asia Pacific is expected to witness a substantial CAGR in the coming years.

 

Global Biodegradable polymers Competitive Landscape

The market for biodegradable polymers is characterised by fierce competition and a quickly changing environment due to the growing demand for environmentally friendly and sustainable materials. Leading companies in the sector are concentrating on R&D endeavours to augment the functionality and adaptability of biodegradable polymers, consequently broadening their uses in diverse sectors.

Prominent corporations like NatureWorks LLC, BASF SE, and Corbion N.V. command a large share of the market thanks to their robust global reach and wide range of products. One of the industry's pioneers, NatureWorks LLC, is well-known for its Ingeo brand of biopolymers made from renewable resources, mainly maize. To stay ahead of the competition, this company has continuously made investments in technological advancements and partnerships. Similarly, by utilising its knowledge of materials science, the massive chemical company BASF SE has made great progress towards creating biodegradable polymers. The ecoflex and ecovio brands of the company are well-known for their adaptability and sustainability.

The market has seen the rise of creative startups and small- to medium-sized enterprises (SMEs) in addition to well-established players, which has altered the dynamics of competition. These organisations frequently concentrate on unique formulations and niche applications, upending established players and adding variety to the market. Examples are FKuR Kunststoff GmbH, which specialises in compostable and biodegradable plastics, and Danimer Scientific, which is well-known for its biodegradable polymers based on polyhydroxyalkanoates (PHA).

 

Global Biodegradable polymers Recent Developments

  • May 2023, a new collaboration between the University of Nottingham, Croda International Plc, and the University of York has been formed. The initiative aims to pioneer the development of innovative and sustainable polymers tailored for liquid formulations. Experts from the University of Nottingham’s School of Chemistry and the University of York will join forces with Croda, a company known for leveraging smart science to craft high-performance ingredients and solutions that enhance quality of life. Together, they will tackle the task of creating cutting-edge biobased and biodegradable polymers specifically designed for liquid polymer
  • March 2022, Solvay, a prominent player in naturally sourced beauty polymers, is broadening its portfolio of biodegradable guar-based solutions, initially unveiled in December 2021. The latest additions, Jaguar® NAT SGI and Jaguar® Excel, serve as advanced thickening and conditioning polymers for beauty care. These innovations empower beauty brands to meet increasingly rigorous global regulations and fulfil the rising consumer demand for beauty products that align with principles of responsibility and sustainability.

 

Global Biodegradable polymers report segmentation

ATTRIBUTE

DETAILS

By Type

  • Polylactic Acid
  • Starch Blends
  • Biodegradable Polyesters
  •  Polyhydroxy Alkanoates
  •  Cellulose Derivatives

By Application

  • Packing Bags
  • Consumer Goods
  • Agriculture
  • Textile
  • Healthcare
  • Others

By Geography

  • North America (USA, and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request

Pricing

  • Available upon request

 

 

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

  • Global Biodegradable polymers size and forecast:

To identify and estimate the market size for global biodegradable polymers market segmented by type, by application and by region. Also, to understand the consumption/ demand created by consumers between 2023 and 2031.

  • Market Landscape and Trends:

To identify and infer the drivers, restraints, opportunities, and challenges for global Biodegradable polymers

  • Market Influencing Factors:

To find out the factors which are affecting the market of Global Biodegradable polymers among consumers

  • Company Profiling:

To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

Global Biodegradable polymers forecast period is 2023 - 2031.
According to Global Biodegradable polymers research, the market is expected to grow at a CAGR of ~18.60% over the next eight years.
The possible segments in global biodegradable polymers are based on by type, by application & by region.
The expected market size for Global Biodegradable polymers is 12.08 billion in 2022.
The major players in the market are, Novamont SpA, BASF SE, Plantic Technologies Ltd., Koninklijke DSM NV, DuPont de Nemours Inc., Toray Industries Inc., Arkema SA, NatureWorks LLC, Evonik Industries AG, Braskem SA.