Biobased biodegradable plastics are a new class of materials that are gaining popularity due to their eco-friendly nature. Unlike traditional plastics, biobased biodegradable plastics are derived from natural and renewable resources, such as plants and bacteria. These materials are designed to degrade quickly and safely in the environment, minimizing their impact on the planet.
One of the primary benefits of biobased biodegradable plastics is that they can be produced without relying on fossil fuels. This reduces the carbon footprint of plastic production, which is a significant contributor to global warming. Additionally, because biobased biodegradable plastics are made from natural materials, they can be composted or biodegraded in soil or water, leaving behind only natural byproducts.
Eco-friendly plastics are materials that have a reduced environmental impact compared to traditional plastics. These plastics are typically made from renewable resources or have the ability to biodegrade, reducing the amount of waste that ends up in landfills or the ocean. However, it’s important to note that even eco-friendly plastics still have an impact on the environment, and reducing overall plastic consumption is the best solution.
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Regional Bio-based Biodegradable Plastics Markets to Demonstrate an Impressive CAGR till 2020
Europe leads the global bio-based biodegradable plastics market, followed by North America. The two major markets contributed approximately 70% to the global bio-based biodegradable plastics market revenue in 2014. The European bio-based biodegradable plastics market is relatively mature due to early adoption of these materials compared to other regions.
North America is the second-largest market and is estimated to demonstrate robust double-digit growth between 2014 and 2020. On the other hand, the bio-based biodegradable plastics market in Latin America is expected to demonstrate the highest growth rate at a CAGR of 22.6%, followed by Asia Pacific at a CAGR of 20.7% in terms of value. The cumulative market share of Latin America and Asia Pacific is anticipated to improve by around 400 basis points by the end of the forecast period.
Japan is another prominent market for bio-based biodegradable plastics, characterized by product innovation through substantial investments into R&D activities. “Manufacturers in the bio-based biodegradable plastics market in Japan are consistently introducing new products, and creating a trend that is being followed by manufacturers in developed markets such as the U.S., Germany and France. The bio-based biodegradable plastics market in Japan is projected to demonstrate a slightly sluggish growth rate as compared to other APAC countries during the forecast period”, said Essien Jae.
In terms of application, the packaging sector accounts for the largest share of the global bio-based biodegradable plastics market and is largely driven by Europe. Other key application sectors include fibres, agriculture and medical.
On the basis of product type, the market is broadly segmented into polyester, starch blends, poly lactic acid (PLA), poly hydroxyalkanoates (PHA) and cellulose. However, apart from the abovementioned types, there are other product types, which were cumulatively estimated to account for around 20% of the overall market value in 2014. Polyester and PLA product types are estimated to dominate the global bio-based biodegradable plastics market, as both types were cumulatively estimated to account for over 60% of the total market value in 2014.
Further more, the starch-blend segment of the bio-based biodegradable plastics market is expected to demonstrate a slightly sluggish CAGR compared to polyester and PLA throughout the forecast period.
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Key Segment
On the basis of product type
- polyester
- starch blends
- poly lactic acid (PLA)
- cellulose
- polyhydroxyalkanoate (PHA)
- other biobased biodegradable plastics
On the basis of application
- packaging
- fibres
- healthcare
- agriculture
- others
On the basis of region
- Western Europe
- Asia Pacific
- Eastern Europe
- North America
- Middle East & Africa
- Japan
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