Urgent Need to Reduce Environmental Pollution & Focus on Eco-Friendly and Sustainable Products to Drive Growth in the Global Biodegradable Polymers Market
Published: February 2018
- Code: MCP-1141
- Pages: 323
- Tables: 79
- Companies: 73
BIODEGRADABLE POLYMERS: A RESEARCH BRIEF
The global market for Biodegradable Polymers is projected to reach 6.2 billion pounds by 2024, driven by the growing need to reduce environmental damage due to the use of petroleum-based plastics; growing application in healthcare, packaging and agriculture, among others; and imposition of strict regulations to curb pollution caused by plastic waste. Other major factors driving growth in the market include continuous development and improved understanding about the mechanisms of degradation; growing research in the field of enzymatic degradation of polymers; breakthroughs in biomaterials research; development of novel resins with enhanced performance capabilities; and continuously falling costs of biodegradable polymers which makes it more competitive with petroleum-based polymers. In the healthcare sector, biodegradable polymers find wide-ranging applications in manufacturing surgical sutures to implants. Recent advancements are infusing confidence in the potential use of these materials in tissue engineering and drug delivery applications. A new class of hydrolytically sensitive polymers is expected to find commercial opportunities in a range of biomedical applications in the coming years. Europe represents the largest market worldwide supported by the fact that the region has some of the world’s most stringent environment protection laws. Asia-Pacific is forecast to register the fastest CAGR of 20.3% over the analysis period, driven by the complete ban on plastic bags in some countries or levy of additional charge for using plastic bags in others and the resulting manufacturer and retailer migration towards biodegradable polymers-based plastic bags; depleting landfill capacity and the urgent need to reduce the use of plastics; and government policy led support for the certification and commercialization of new polymers.
OUTLOOK IN KEY MARKET SEGMENTS
- Through 2024, Compost Bags will remain the largest end-use market, followed by Packaging (Loose-fill/Other).
- Compost Bags is forecast to emerge as the largest and the fastest growing end-use market supported by rising demand for easy-to-recycle and easy-to-decompose food packaging and garbage disposal solutions.
PRODUCT DEFINITION & SCOPE
- A fully biodegradable polymer is defined as a polymer that can be totally disintegrated by naturally occurring microorganisms such as bacteria, fungi, and algae into smaller units (monomers) and subsequently transformed into water, carbon dioxide, and humus in a specified time period.
TIMELINE FOR ANALYSIS
- Market Estimates and Forecasts for 2016-2024
- Historic Review 2011-2015
GEOGRAPHIC MARKETS ANALYZED
- US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), and Rest of World
MARKET SEGMENTATION & CLASSIFICATION
- End-Use Segments:
- Packaging (Loose-fill/Other), Compost Bags, and Others
- BASF SE
- BIOTEC GmbH & Co. KG
- CJ CheilJedang
- DowDuPont, Inc.
- FKuR Kunststoff GmbH
- Futamura Chemical Co. Ltd.
KEY RESEARCH DELIVERABLES
- Review of Industry/Market Structure
- Analysis of Trends & Drivers
- Insights on Macro Market Scenarios
- Market SWOT Analysis
- Latent Demand Forecasts & Projections
- Comprehensive Geographic Market Analysis
- Presentation Ready Facts & Statistical Data Findings
- Coverage of Major/Niche Players, Market Shares & Competition
- Coverage of major Company/Technology/Product/Financial Stories
- Extensive Product/Service/End-Use/Technology Coverage Where Applicable