A research study titled, “Biodegradable Plastics Market by product and application - global industry analysis and forecast to 2023” published by crystal market research.
Industry Outlook & Trend Analysis:
The Biodegradable Plastic Market was worth USD 7.67 billion in 2014 and is expected to reach approximately USD 17.82 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 9.82% during the forecast period. Plastics that deteriorate in the nature by the activity of microorganisms are for the most part known as biodegradable plastics. These plastics are partitioned into various classifications, for example, bio-based and petro-based biodegradable plastics. The most widely recognized process used in the assembling of biodegradable plastics incorporates fermentation of sugar or canola oil to deliver polylactic acid (PLA) or polyhydroxyalkanoates (PHA), which thus is changed over into biodegradable plastics. The strict regulatory norms by several governments across the globe insist on the reduction of plastic usage has pushed the demand for biodegradable plastics.
Industry Outlook & Trend Analysis:
The Biodegradable Plastic Market was worth USD 7.67 billion in 2014 and is expected to reach approximately USD 17.82 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 9.82% during the forecast period. Plastics that deteriorate in the nature by the activity of microorganisms are for the most part known as biodegradable plastics. These plastics are partitioned into various classifications, for example, bio-based and petro-based biodegradable plastics. The most widely recognized process used in the assembling of biodegradable plastics incorporates fermentation of sugar or canola oil to deliver polylactic acid (PLA) or polyhydroxyalkanoates (PHA), which thus is changed over into biodegradable plastics. The strict regulatory norms by several governments across the globe insist on the reduction of plastic usage has pushed the demand for biodegradable plastics.
Market SegmentationThe Biodegradable Plastic Market is segmented by product into polylactic acid, polybutylene succinate, polyhydroxyalkanoates, starch-based, regenerated cellulose and polycaprolactone. Based on application the market is segmented into packaging, agriculture, textile, injection molding and others out of which the packaging segment is anticipated to be the major consumer of biodegradable plastics in the upcoming years. The demand for biodegradable plastic packaging material will be particularly high in the food and beverages sector.
Competitive Analysis:The major players in the market are Corbion, BASF, Mitsubishi Chemical Corporation, Bio-On SpA, Plantic, Biome Bioplastics, FKuR and NatureWorks. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
Regional Outlook and Trend Analysis
Europe is anticipated to stand out as the regional market is assessed to grow tremendously over the forecast period based on revenue. The expanding pressure on the regulatory bodies to diminish carbon emanations, landfills, and issues associated with mounting plastic waste have expanded the usage of biodegradable plastics in the area. Besides, solid existence of producers is additionally anticipated that would reinforce the district's position in the worldwide market over the gauge time frame. North America is foreseen to encounter significant development over the forecast period owing to risisng focus on reducing its carbon emissions.
Research MethodologyWe use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.
Europe is anticipated to stand out as the regional market is assessed to grow tremendously over the forecast period based on revenue. The expanding pressure on the regulatory bodies to diminish carbon emanations, landfills, and issues associated with mounting plastic waste have expanded the usage of biodegradable plastics in the area. Besides, solid existence of producers is additionally anticipated that would reinforce the district's position in the worldwide market over the gauge time frame. North America is foreseen to encounter significant development over the forecast period owing to risisng focus on reducing its carbon emissions.
Research MethodologyWe use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.
What Our Report Offer:1) An extensive research study on the Global Biodegradable Plastics Market, and its entire ecosystem, describes the market trends, drivers, restraints and opportunities of the Biodegradable Plastics Market.
2) We provide you the longest possible market segmentation based on type of products, procedures and geography and describe the market share region wise.
3) The report gives a bird eyes view on the competitive landscape which includes mergers and acquisitions, collaborations, market strategies, and new product launches.
2) We provide you the longest possible market segmentation based on type of products, procedures and geography and describe the market share region wise.
3) The report gives a bird eyes view on the competitive landscape which includes mergers and acquisitions, collaborations, market strategies, and new product launches.
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https://www.crystalmarketresearch.com/check-discount/CM071082
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About Crystal Market Research:
Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.
Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.
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Toll Free: +1-888-213-4282
Email: sales@crystalmarketresearch.com
Judy S,
304 South Jones Blvd, Suite 1896,
Las Vegas NV 89107,
United States
Toll Free: +1-888-213-4282
Email: sales@crystalmarketresearch.com
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