Biodegradable Plastic Market

Date: 2016-05

Biodegradable plastics are those plastics which are designed to breakdown quickly when compared to the other variety of plastics. The plastic industry saw a revolution due to the arrival of these types of plastics. Being renewable and cost effective, the biodegradable plastics have replaced many of the other types of plastics. This fact also serves as the main driver for the industry.

In the Global scenario, the segmentation of bio degradable plastics has been done on the basis of types and End 聳 user industry. Petrochemicals and other renewable raw resources are the main source material for the industry. Segmentation on the basis of types includes Polylactic acid (PLA), Polybutylene succinate (PBS), Polyhydroxyalkanoates (PHAs), Polycaprolactone (PCL) and others. The application segmentation includes PET packaging, performance fibers and mulch amongst others. Food and beverages, sports companies, agriculture and pharmaceuticals are some of the end 聳 user industries in the market. The biodegradable plastic industry is expected to increase due to the increase in demand for a sustainable future by many of the government as well as nonprofit organizations. The global market for biodegradable plastics is estimated to grow multifold owing to the ever increasing demand for packaging industry.

Biodegradable plastic Market

The statistics for the market for the upcoming five years has been shown in the graph above. The recent analysis of the market estimates that APAC holds the major share in the production market wherein China holds a key share. North America has U.S. as its major producer while Europe holds the next position in the market share.

Companies that play the major role in the production are:
BASFE SE (Germany)
Metabolix, Inc. (U.S.)
Mitsubishi Chemical Corporation (Japan)
Eastman Chemicals Company (U.S.)
Meridian, Inc. (U.S.)

The other key players in the industry are:
NatureWorks LLC (U.S.)
Archer Daniels Midland Company
Celenase Corporation (U.S.)

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