This report provides exclusive insights into the COVID-19 impact on the Biodegradable Plastics Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Biodegradable Plastics Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Biodegradable Plastics Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on
biodegradable plastics market provides in-depth analysis of segments and
sub-segments in the global as well as regional biodegradable plastics market.
The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional biodegradable plastics market over the
short term as well as long term. The report is a comprehensive presentation of
trends, forecast and dollar values of the global biodegradable plastics market.
According to the report, the global biodegradable plastics market is projected
to grow at a CAGR of 12.82% over the forecast period of 2019-2025.
The plastics industry is facing challenges of environmental
pollution, which is forcing the major players in the industry to come up with
innovative products to tackle the challenge. Biodegradable plastics get
degraded easily in a short span of time, which makes it an eco-friendly
alternative for the conventional plastics. The biodegradable plastics market is
a relatively new market and it is highly fragmented with a number of small-cap
companies introducing new products in the market. The major plastics
manufacturers including BASF SE, NatureWorks LLC, Mitsubishi Chemical Holdings
Corporation, Cargill, Inc., Plantic Technologies Ltd, and others are spending
heavily on research & development to develop novel biodegradable plastic
products, which are strong and readily degradable in the natural environment.
The rise in the awareness among consumers regarding environment
protection is majorly driving the biodegradable plastics market. The
conventional plastics are not degraded easily, they take a long time to be
decomposed. They also release harmful chemicals that pollute land and water.
While the biodegradable plastics get degraded easily within a short period of
time. Moreover, the stringent government regulations for environmental
protection are expanding the demand for antimicrobial plastics. Furthermore,
the increase in the disposable income of the population is giving a boost to
the growth of the biodegradable plastics market. Growing working class
population coupled with growing urbanization have changed the consumer preferences.
People tend to act more eco-friendly in terms of buying products. However, the high cost of production is the major restraining factor for the growth of the
biodegradable plastics market. Nevertheless, the growing adoption of
biodegradable plastics in various applications is expected to offer lucrative
opportunities for the key players in the biodegradable plastics market.
In terms of geography, Europe generated the highest revenue for
biodegradable plastics, dominating the global market. The largest market share
of Europe attributed to the high awareness among the population regarding
environment protection and the growing challenge of waste management in this
region. While the Asia-Pacific is expected to witness the highest growth rate
among the other regions owing to the growing packaging and consumer goods
industries in this region.
The report on global biodegradable plastics market covers segments
such as type, and application. On the basis of type, the sub-markets include
starch based, PLA, PBAT, PBS, PHA, and other types. On the basis of
application, the sub-markets include packaging, textile, agriculture, injection
molding, and other applications.
The report provides profiles of the companies in the market such
as BASF SE, NatureWorks LLC, Total Corbion PLA, Biome Bioplastics Ltd,
Mitsubishi Chemical Holdings Corporation, Cargill, Inc., Plantic Technologies
Ltd, Corbion N.V., FKuR Kunststoff GmbH, MH Group of Companies, and Other
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical tools
such as Porter's five forces analysis and DRO analysis of biodegradable
plastics market. Moreover, the study highlights current market trends and
provides forecast from 2019-2025. We also have highlighted future trends in the
market that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players.