Biodegradable polymer market is anticipated to grow at a significant CAGR of 8.9% during the forecast period. The growing demand for biodegradable plastics from several end-use industries, growing stringent regulatory provisions, and the rising concerns about the environment impact of non degreadable polymers are primary factors driving the market growth. Additionally, the increasing consumer awareness for eco-friendly polymer solutions coupled with the rising efforts to reduce the use of conventional plastics are some other factors anticipated to drive the market growth. However, higher prices of biodegradable polymers compared to conventional polymers are hindering the market's growth in various application segments. Usually, the manufacturing cost of biodegradable polymers is 20-80% more than that of traditional polymer and therefore has not achieved economic viability.
Moreover, the increasing waste piles and landfills have emerged as major environmental concern and has lead to numerous harmful effects on the flora and fauna of the ecosystem. As a result players and others stackholders are coming up with alternative biodegradable solutions. For instance, in July 2021, Defence Research and Development Organisation (DRDO), in collaboration with Acharya Nagarjuna University and Ecolastic Private Ltd., launched environmentally safe packaging products made from natural and plant-based food-grade materials. The bioplastic cling film, which is compatible with most packaging machines, is designed to be used for the packaging of fresh produce, for large-scale retail trade and large and medium-sized packaging centres. With the aim of reducing single-use plastic.
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Biodegradable Polymer Market Segmentation
By Product
· Polylactic Acid
· Starch-based Plastics
· Polyhydroxy Alkenoates
· Biodegradable Polyesters
· Other (Cellulose Derivatives)
By End-Use
· Agriculture
· Consumer Goods
· Packaging
· Healthcare
· Other
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Regional Analysis
North America
· United States
· Canada
Europe
· UK
· Germany
· Spain
· France
· Italy
· Rest of Europe
Asia-Pacific
· India
· China
· Japan
· South Korea
· Rest of APAC
Rest of the World
Company Profiles
· Biologische Naturverpackungen Gmgh & Co. Kg (Biotec)
· Biome Bioplastics Ltd.
· Danimer Scientific
· Fkur Kunststoff GmbH
· Futerro Sa
· Galactic Sa
· Huhtamaki Group
· Mitsubishi Chemical
· Natureworks LLC
· Novamont S.p. A.
· Plantic Technologies Ltd.
· Rodenburg Biopolymers B.V.
· Teijin Ltd.
· Tianan Biologic Material Co. Ltd.
· Tianjin Greenbio Materials Co. Ltd.
· Total Corbion Pla Bv
· Toyobo Co. Ltd.
· Zhejiang Hisun Biomaterials Co. Ltd.
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