Biodegradable Plastic Market Driven by Fossil Fuel Caused Environmental Concerns
Added: (Fri Mar 29 2019)
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Global Biodegradable Plastic Market: Demand Analysis and Growth Forecast
Globally, 500 billion plastic bags are used by human and there are 13 million tonnes of plastic leakage into the ocean every year. In order to control the environmental concerns of conventional plastics such as air, water, and soil pollution, biodegradable plastics are invented. Biodegradable plastic decays naturally in the environment and it is the collection of bioplastics that are made from renewable raw materials. As per the findings of a newly published market research report by IndustryARC, the global Biodegradable Plastic Market size was around $8 billion in 2018, and the demand will be growing at an impressive CAGR of around 11% during the forecast period of 2019 to 2025.
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Increasing demand for biodegradable plastics from packaging industry and use in medical applications is driving the growth of the biodegradable plastics market. Biodegradable plastics can be metabolized in the human body through hydrolysis catalyzed by involving enzymes. Some biodegradable polymers are also designed for the use of slow release drug delivery and in the treatment of cancer for delivering the vaccines.
Global Biodegradable Plastic Market: Leading Segments
Analyst of the report says that packaging application is dominating among other diverse applications catered by the biodegradable plastic marketplace. The segment is estimated to grow with a good CAGR around 5% during the forecast period 2019-2025. The latest innovation of Aronax Technologies is the new-found demand for recyclable packaging. It mainly uses magnetic additive material for creating better moisture and air insulation. Sensitive products such as coffee and medicines are protected using this packaging material. Owing to the latest innovations, the application of biodegradable plastics in packaging is increasing massively. APAC is estimated as the key region for the growth against other regions such as North America, and Europe with a maximum share of 35% during the forecast period.
Global Biodegradable Plastic Market: Trends
• Edible Bio-plastic Food Wrappers Enter the Market –
By the usage of bi-products from the corn and shellfish industries, the researchers of the University of Otago are deriving edible and readily compostable food wrappers. These wraps act as an alternative to the existing petrochemical-based plastics with new features to resist heat and eat meals. In the press meet, Professor Oey mentioned that to test the toxicology of wrapping and ensure whether it is fit for human and animal consumption, The University was donated with $5000 by Otago Government in 2017.
• Alternative to Plastic Straws Using Avocado pits –
Biofase, a Michacon Company are using 15,000 tonnes of Avocado seeds every day to convert into bioplastic straws. Due to their potential to inflict environmental damage, plastic straws are replaced with customer friendly biodegradable avocado straws.
• Manufacturing of Bioplastics by Shrimps –
Angeline Arora, a schoolgirl from the Sydney High School has manufactured bioplastic from the waste shells of shrimps. She invented a method of crushing the shells in to powder, soak it in acid, and alkaline to remove contaminants by leaving pure chitin. Later chitin was mixed with fibroin; a protein from spider silk and then pressed in order to create thin sheets of bio-plastic.
Global Biodegradable Plastic Market: Competitive Landscape
Some of the key players operating in the biodegradable plastic market are Mitsubishi Chemical Corporation, Cargill Incorporated, and NatureWorks. Cargill produces various kind of biodegradable polymers in order to reduce environmental impacts and to improve the communities where humans live and work. Its Agri-pure AP-406 bio-solvent product is an alternative for the use of petroleum-based driven solvents and other light mineral oils. Due to its lowest water hazard rating WGK 1, it is freely biodegradable.
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A. Biopolymers Market
B. Engineering Plastics Market
What can you expect from the report?
The Biodegradable Plastic Market is Prepared with the Main Agenda to Cover the following 20 points:
1. Biodegradable Plastic Market Size by Product Categories & Application
2. Biodegradable Plastic Market trends & Relevant Market Data
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End-user Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. Biodegradable Plastic Market Demand Analysis (Revenue & Volume)
12. Country-level Analysis
13. Competitor Analysis
14. Biodegradable Plastic Market Shares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. Biodegradable Plastic Market Strategic Analysis
18. Biodegradable Plastic Market Current & Future Market Landscape Analysis
19. Opportunity Analysis
20. Biodegradable Plastic Market Revenue and Volume Analysis
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