The reports also help in understanding the Biodegradable Plastics Market dynamic, and structure by analyzing the market segments and projecting the Biodegradable Plastics Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Biodegradable Plastics Market makes the report investor’s guide.
Biodegradable Plastics Market Overview:
The Biodegradable Plastics Market study gives a complete picture of the competition, including the market share and company profiles of the key competitors in the industry. The scope of the research includes a thorough investigation of the Biodegradable Plastics Market, as well as the reasons for variations in the industry's growth in various locations.
The Biodegradable Plastics Market was valued US$ 2.63 Bn. in 2021 and is estimated to grow at CAGR of 15.1%, to reach US$ 6.12 Bn. by 2027 during the forecast period.
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Market Scope:
The rise in dietary trend of consuming milk outside the home is propelling Post completion of market engineering, which included calculations for market statistics, market size estimations, market forecasts, market breakdown, and data triangulation, thorough primary research was done to acquire information and verify and validate important numbers. To perform market estimating and forecasting for the overall market segments and sub-segments described in this research, both top-down and bottom-up methodologies, as well as multiple data triangulation methods, were widely employed throughout the whole market engineering process. Extensive qualitative and quantitative analysis is also performed on all of the figures obtained during the whole market engineering process in order to provide essential information throughout the report.
Segmentation:
Based on Type, The starch-based segment is expected to dominate the market with the growth of 10.4% CAGR during the forecast period. Starch-based plastics are widely used in end-consumer industries such as automobiles, agriculture and packaging. Moreover, starch-based are used as an alternative for petroleum-based polymers is highly degradable hence, widely utilized in reducing the carbon footprint. The PLA plastics are also growing rapidly especially in the European region mainly due to the reasonable price of PLA in comparison to any other type is a prime factor driving the growth.
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Key Players:
Major players in the market are identified through secondary research and their market revenues are determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top manufacturers; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, CEOs, and marketing executives. The percentage splits, market shares, growth rate, and breakdowns of the markets are determined by using secondary sources and verified through primary sources. The biggest players in the Biodegradable Plastics market are as follows:
• NatureWorks
• BASF
• Total Corbion PLA
• Mitsubishi Chemical
• Biome Bioplastics
• Plantic Technologies
• Bio-On
• Danimer Scientific
• Novamont S.p.A
• Toray Industries
• DowDuPont Inc
• Eastman Chemical Company
• Mondi PLC
• Amcor Limited
• Kruger Inc.
• Tetra Pak International SA
• Plastic Suppliers Inc.
• Stora Enso
• WestRock
• Archer Daniels Midland
• Perstorp, K.D
• FEDDERSEN
• UrthPact, LLC
• Indochine Bio Plastiques (ICBP) Sdn. Bhd.
Regional Analysis:
Individual market-influencing elements and changes in market laws that influence present and future market trends are also included in the geographical overview of the Biodegradable Plastics market study. Current and future trends are examined in order to assess the entire market potential and uncover profitable trends in order to get a more stable footing. The geographical market assessment is based on the present environment and expected developments.
COVID-19 Impact Analysis on Biodegradable Plastics Market:
Due to a break in operations, end-user sectors where Biodegradable Plastics is used had a decline in growth from January to May in various countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India. This resulted in a large drop in the revenues of firms operating in these industries and, as a consequence, in demand for Biodegradable Plastics manufacturers, affecting the development of the Biodegradable Plastics market in 2020. End-user business demand for Biodegradable Plastics has dropped considerably as a result of lockdowns and a rise in COVID-19 incidents throughout the world.
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Key Questions Answered in the Biodegradable Plastics Market Report are:
Which segment had the largest share in the Biodegradable Plastics market in 2021?
What is the competitive landscape of the Biodegradable Plastics market?
Which are the key drivers aiding the Biodegradable Plastics market growth?
Which region has the maximum share in the Biodegradable Plastics market?
What will be the CAGR of the Biodegradable Plastics market during the forecast period (2022-2027)?
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