Article -> Article Details
| Title | Eco-Friendly Packaging & Materials Drive Biodegradable Plastics Market to USD 8.10 Bn by 2029! |
|---|---|
| Category | Business --> Business Services |
| Meta Keywords | Biodegradable Plastics Marke |
| Owner | puja |
| Description | |
| Global Biodegradable Plastics Market Poised for Remarkable Growth The Global Biodegradable Plastics Market is experiencing significant expansion, driven by increasing environmental awareness and the shift towards sustainable materials. Valued at approximately USD 3.02 billion in 2022, the market is projected to reach nearly USD 8.10 billion by 2029, exhibiting a Compound Annual Growth Rate (CAGR) of 15.1% during the forecast period. Competitive Landscape The biodegradable plastics industry comprises a mix of established corporations and innovative startups. Prominent companies such as BASF SE, Mitsubishi Chemical Holdings Corporation, and NatureWorks LLC are leading the market, continually investing in research and development to introduce eco-friendly products. These companies are expanding their global footprint through strategic mergers and acquisitions, aiming to meet the growing demand for sustainable materials. For a comprehensive overview of this study, navigate to: https://www.maximizemarketresearch.com/request-sample/58264/ Regional Demand Highlights Europe holds a dominant position in the biodegradable plastics market, accounting for a significant share of global revenue. This dominance is attributed to stringent environmental regulations and a strong consumer preference for sustainable products. The Asia Pacific region is also witnessing substantial growth, driven by rapid industrialization and increasing awareness of environmental issues. Segmentation Analysis by Type Starch Blends The market is anticipated to be dominated by the starch-based sector, which is likely to rise at a 10.4% CAGR over the forecast period. In end-user industries like packaging, agriculture, and autos, starch-based polymers are extensively utilized. Furthermore, starch-based polymers are frequently employed to reduce carbon emissions because they are highly degradable and can be used as an alternative to petroleum-based polymers. PLA polymers are also expanding quickly, particularly in the European Union. This is mostly because PLA is less expensive than other types, which is a major role in the rise. by Application Packaging & Bags The packaging sector brought in the most money in 2022 and is predicted to expand at a compound annual growth rate (CAGR) of during the forecast period. The primary driver of the market's expansion throughout the anticipated period is the increased demand and use of biodegradable plastic packaging in the consumer goods, food and beverage, textile, and pharmaceutical industries. The use of biodegradable plastics in agriculture was also aided by shifting lifestyles and farmers' increased understanding of the benefits of greenhouses for growing fruits and vegetables. To delve deeper into this research, kindly explore the following link: https://www.maximizemarketresearch.com/request-sample/58264/ Key Market Participants: 1. NatureWorks Catch Up with Trending Topics: Metamaterials Market: https://www.maximizemarketresearch.com/market-report/global-metamaterials-market/24404/ Global Battery Additives Market : https://www.maximizemarketresearch.com/market-report/global-battery-additives-market/26908/ About Us: Maximize Market Research is one of the fastest-growing Market research and business consulting firms serving clients globally. Our revenue impact and focused growth-driven research initiatives make us a proud partner of majority of the Fortune 500 companies. We have a diversified portfolio and serve a variety of industries such as IT & telecom, chemical, food & beverage, aerospace & defense, healthcare and others. Contact Us: MAXIMIZE Market RESEARCH PVT. LTD. 3rd Floor, Navale IT park Phase 2, Pune Banglore Highway, Narhe Pune, Maharashtra 411041, India. +91 9607365656 sales@maximizeMarketresearch.com | |
