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Biodegradable Polymers Market Outlook – 2030
Biodegradable polymers are degradable in nature and break down into smaller molecules with the action of agents like microorganisms and nature. Based on feedstock, they are classified into natural bio-degradable polymers formed in nature and synthetic biodegradable polymers based on petroleum. Biodegradable polymers are advantageous over non-biodegradable polymers as they are less toxic, have lesser side effects, help to improve patient compliance, and maintains stabilization of the drug. The biodegradable plastics are increasingly finding uses in niche application such as in shale gas industry, hygiene products, and in fishing gears, among other applications these are projected to act as an opportunity for the market in future.
Covid-19 Impact Analysis
Top Impacting Factors
Non-decomposable plastics are a global issue. Governments around the world are tackling this problem by banning single use plastics and promoting use of biodegradable plastics. Moreover, consumers are willing to pay more for biodegradable plastics owing to their eco-friendly nature. Packaging is one of the leading end used segment of biodegradable plastics and is used in both rigid packaging and flexible packaging. Replacement of conventional plastics by these products in food packaging such as boxes, wraps, cups, and plates is gaining momentum which is supporting the growth of biodegradable plastic market. The agriculture sector also held a significant share in the market.
Market trends
Key Benefits of the Report
Questions answered in the Biodegradable Polymers Market Report
Biodegradable Polymers Market Report Highlights
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Key Market Players | Arkema SA, NatureWorks LLC, Plantic Technologies Ltd., Koninklijke DSM NV, Evonik Industries AG, BASF SE, DuPont de Nemours Inc., Novamont SpA, Toray Industries Inc., Braskem SA |
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