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Global Biodegradable Plastics Market 2015-2020 with Metabolix, BASF, Corbion, Natureworks & Biome Technologies Dominating the $3.4 Billion Industry
DUBLIN, Sep. 03, 2015 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/fnppkv/biodegradable) has announced the addition of the "Biodegradable Plastics Market by Type (PLA, PHA, PBS, Starch-Based Plastics, Regenerated Cellulose, PCL), by Application (Packaging, Fibers, Agriculture, Injection Molding, and Others) - Global Trends & Forecasts to 2020" report to their offering.
The market is projected to reach USD 3.4 Billion by 2020, at a CAGR of 10.8% between 2015 and 2020.
Biodegradable plastics are increasingly gaining popularity over the past decade. They are used in various applications, most importantly in packaging application. The biodegradable plastics market still accounts for less than 1% of the overall plastics market, but, with growing consumption, this trend is expected to change in the near future. The growing demand for biodegradable plastics is mainly attributed to increased environmental awareness. Biodegradable plastics are increasingly being used to manufacture packaging materials as consumers are showing preferences towards ecofriendly packaging. A major restraint faced in biodegradable plastics market is its high prices. Biodegradable plastics are not able to compete economically with the petroleum based plastics because of the high manufacturing cost involved. However, with more investment by market players towards balancing the economies of scale and development of new manufacturing processes, it may result in lower prices in the future.
The current biodegradable plastics market is facing challenges related to its impact on food supply. As most biodegradable plastics are bio-based, their feedstock is obtained from natural sources. This put excessive strain on food production and supply. This is a growing concern and a major challenge for market players in the biodegradable plastics market. But with continuous development of new technologies and search for new sources of feedstock by the market players, the problem may be solved in the future.
Western Europe and North America are the biggest consumers of biodegradable plastics globally. Italy and the U.S. are the key countries in Western Europe and North America, witnessing CAGRs of 11.9% and 12.9%, respectively, between 2015 and 2020. The developing countries are also growing at a rapid pace due to rising domestic demand.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Biodegradable Plastics Market, By Type
8 Biodegradable Plastics Market, By Application
9 Biodegradable Plastics Market, By Region
10 Competitive Landscape
11 Company Profiles
- BASF SE
- Bio-On SRL.
- Biome Technologies PLC
- Corbion NV (PURAC)
- Meredian Inc.
- Metabolix Inc.
- Mitsubishi Chemical Corp.
- Natureworks LLC
- Plantic Techn- ologies Limited
- Tianan Biologic Materials Co. Ltd.