Biodegradable Polymers Market

Global Biodegradable Polymers Market is valued at USD 4.85 Billion in 2022 and it is expected to reach USD 12.29 Billion by 2029 with a CAGR of 14.2% over the forecast period.

Global Biodegradable Polymers Market: Global Size, Trends, Competitive, and Historical & Forecast Analysis, 2023-2029- The market will expand due to increasing environmental concern, growing demand from end-use industries, and the development of advanced technology.

Scope -

Biodegradable polymers are a type of plastic that can be broken down into natural compounds by microorganisms under certain conditions. These polymers offer a more sustainable alternative to traditional plastics, which can take hundreds of years to decompose and contribute to environmental pollution. Biodegradable polymers have been around for several decades, but their use has increased significantly in recent years due to growing concerns about plastic waste and environmental sustainability.

The first biodegradable polymer, polylactic acid (PLA), was developed in the 1950s. However, it was not until the 1980s that biodegradable polymers began to be produced on a commercial scale. Since then, numerous other biodegradable polymers have been developed, including polyhydroxyalkanoates (PHAs), polybutylene succinate (PBS), and polyethylene glycol (PEG). Biodegradable polymers have a wide range of applications, including packaging, agriculture, biomedical, and consumer goods.

These can be used to create products such as disposable bags, food packaging, mulch films, sutures, drug delivery systems, and personal care items. The end-users of biodegradable polymers include consumers, businesses, and government agencies. Consumers may choose to purchase products made from biodegradable polymers due to their eco-friendliness, while businesses and governments may use them to reduce their environmental impact and comply with regulations.

Revenue Generation Model:

The revenue generation model for biodegradable polymers varies depending on the application and market. For example; some companies may generate revenue by selling biodegradable packaging products directly to consumers or businesses, while others may sell raw materials to manufacturers who produce biodegradable products.

Supply Chain Model:

The supply chain model for biodegradable polymers typically involves raw material suppliers, manufacturers, distributors, and retailers. Raw materials are sourced from natural sources, such as corn or sugarcane, and then processed into biodegradable polymers. Manufacturers then use these polymers to create finished products, which are sold to distributors and retailers.

Value Chain Model:

The value chain model for biodegradable polymers involves the creation of value for all stakeholders involved in the production and distribution process. This includes value for raw material suppliers, manufacturers, distributors, retailers, and end-users. The goal is to create a sustainable and profitable business model that benefits all stakeholders while also promoting environmental sustainability.

Covid-19 Impact on the Biodegradable Polymers market:

The Covid-19 pandemic has negatively impacted the global biodegradable polymers market due to disrupted supply chains and reduced demand for products that use biodegradable polymers. However, the pandemic has also created new opportunities, such as increased interest in sustainable packaging solutions and the use of biodegradable polymers in single-use products like masks and gloves.

Key Players -

• NatureWorks
• BASF SE
• Corbion
• Novamont S.p.A.
• Bome Technologies plc
• Mitsubishi Chemical Corporation
• Total Corbion PLA
• FKuR Kunststoff GmbH
• Danimer Scientific
• Green Dot Bioplastics
• Braskem
• Avantium
• Plantic Technologies
• API S.p.A.
• Cardia Bioplastics
• Bio-On
• Synbra
• Cereplast
• BioBag International
• Mater-Biotech
• Ecomann
• Eco-Cycle Solutions
• TIPA Corporation
• Biofase
• Fkur Plastics Corp
• Tianan Biologic Materials Co Ltd
• Tianjin GreenBio Materials Co Ltd
• Eastman Chemical Company
• Biomer
• Innovia Films
• RENOLIT
• SABIC
• BioPak
• Tekni-Plex
• Arkema
• Lubrizol Corporation
• Avery Dennison Corporation
• PTT MCC Biochem Company Limited
• Sulzer Chemtech

Segmentation-

By Type:

• Starch-based
• PLA
• PHA
• PBS
• PBAT
• others

By End-User:

• Packaging
• Consumer Goods
• Electrical Appliances
• Domestic Appliances
• Textiles
• Medical and Healthcare
• Personal care, clothes, and other textiles
• Agriculture
• Tapes & Mulch Films
• Others

Market Segmentation:-

By Type:

• Starch-based
• PLA
• PHA
• PBS
• PBAT
• others

By End-User:

• Packaging
• Consumer Goods
• Electrical Appliances
• Domestic Appliances
• Textiles
• Medical and Healthcare
• Personal care, clothes, and other textiles
• Agriculture
• Tapes & Mulch Films
• Others

Market Drivers:

Increasing Environmental Concerns: Growing awareness about the harmful effects of traditional plastics on the environment is driving demand for biodegradable polymers. Consumers, governments, and businesses are increasingly seeking eco-friendly alternatives to traditional plastics, which are non-biodegradable and can persist in the environment for hundreds of years. Biodegradable polymers offer a solution to this problem by degrading naturally into harmless substances, reducing the environmental impact of plastic waste. For example, the United Nations Environment Programme (UNEP) estimates that plastic pollution costs up to $40 billion annually in environmental damage to marine ecosystems, fisheries, and tourism. And 79% of Americans are concerned about the amount of plastic waste in the environment, and 74% believe that plastic waste is a major threat to the world's oceans.

Technological Advancements: The development of new biodegradable polymer formulations and processing technologies is opening up new opportunities in the market. For example; the use of biodegradable polymers in 3D printing is a recent development that is opening up new applications in manufacturing and product design. Similarly, advancements in materials science are enabling the development of new biodegradable polymer formulations that offer better properties and biodegradability characteristics. Around 70% of respondents said that 3D printing helped them reduce product development times. And the International Data Corporation (IDC) forecasts that worldwide spending on 3D printing will reach $23.1 billion by 2022.

Market Restraints:

High Cost: The high cost of biodegradable polymers is a significant restraining factor for the market. Biodegradable polymers are often more expensive than traditional plastics due to the higher cost of raw materials, processing, and production. This can make it difficult for manufacturers to adopt biodegradable polymers, particularly in price-sensitive markets. The cost of raw materials for biodegradable plastics is estimated to be about 50-100% higher than that of traditional plastics.

Competition from Traditional Plastics: The competition from traditional plastics is a significant restraining factor for the biodegradable polymers market. Traditional plastics are widely used due to their low cost, ease of use, and wide availability. Biodegradable polymers are often more expensive and may have limited properties compared to traditional plastics, which can limit their adoption in some applications. For example; the cost of producing polyethylene (PE), one of the most widely used traditional plastics, can be as low as $1.25 per kilogram, while the cost of producing biodegradable alternatives can be several times higher.

Opportunities for the Biodegradable Polymers Market:

Favorable Government Regulations: Governments around the world are implementing regulations to reduce plastic waste and promote the use of biodegradable polymers.

Market Trend:

Product and Technology Development:-

• Development of New Materials: Researchers are developing new biodegradable materials that offer better performance and cost-effectiveness compared to traditional polymers.
• Advanced Processing Technologies: New processing technologies such as 3D printing and injection molding are being developed for biodegradable polymers.

Customer Trends:-

• Increased Demand for Sustainable Products: Consumers are increasingly demanding sustainable products, including biodegradable packaging, personal care items, and other consumer goods.
• Preference for Eco-Friendly Brands: Customers are showing a growing preference for brands that prioritize sustainability and use biodegradable materials in their products.

Competition in the Biodegradable Polymers Market:

Key market players in the biodegradable polymers market are employing several strategies to gain a competitive edge. Some of these strategies include:

Product Innovation: Companies are developing innovative biodegradable products to meet the growing demand for eco-friendly alternatives to traditional plastics. For example; NatureWorks LLC developed Ingeo, a biopolymer made from renewable plant materials such as corn, and Novamont developed Mater-Bi, a biopolymer made from renewable resources.

Mergers and Acquisitions: Companies are acquiring or merging with other players in the market to consolidate their position and gain access to new technologies and markets. For example; Danimer Scientific acquired Novomer, a company that develops sustainable polymers and chemicals, to expand its product offerings and enhance its R&D capabilities.

Collaborations and Partnerships: Companies are forming collaborations and partnerships with other players in the market to leverage their strengths and expand their reach.

Research and Development: Companies are investing in R&D to develop new biodegradable polymers with improved properties and processing capabilities.

Geographical Analysis:

North America:

North America is one of the largest markets for biodegradable polymers, driven by the growing demand for sustainable products and strict government regulations to reduce plastic waste. The United States and Canada are the major markets in the region.

In the United States, the demand for biodegradable polymers is being driven by increasing consumer awareness about the environmental impact of plastic waste, as well as by the government's push for sustainable products. The use of biodegradable polymers is being promoted in several end-use industries, such as packaging, agriculture, and healthcare.

The Canadian government has set a goal to achieve zero plastic waste by 2030 and has implemented several measures to reduce plastic pollution, including banning single-use plastics and investing in recycling infrastructure. In 2020, 81% of respondents agreed that reducing plastic waste was important, and 85% were willing to pay more for eco-friendly products.

Europe:

Europe is a significant market for biodegradable polymers, driven by favorable government regulations and growing consumer awareness about the environmental impact of plastics. The European Union has implemented several policies to reduce plastic waste, including a ban on single-use plastics and a requirement for all plastic packaging to be recyclable or compostable by 2030. These policies are driving demand for biodegradable polymers in the region. The packaging industry is the largest end-user of biodegradable polymers in Europe, accounting for more than 60% of the total market share.

Several key players in the biodegradable polymers market are based in Europe, including NatureWorks LLC, BASF SE, and Biome Technologies plc. These companies are investing in research and development to develop new biodegradable polymers with improved properties and processing capabilities, and they are also forming collaborations and partnerships to expand their reach in the market.

By Regional & Country Level:

• North America
  • S.
  • Canada
• Europe
  • K.
  • France
  • Germany
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
  • Southeast Asia
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • GCC
  • Africa
  • Rest of Middle East and Africa

Key Benefits of Global Biodegradable Polymers Market Report–

• Global Biodegradable Polymers Market report covers in-depth historical and forecast analysis.
• Global Biodegradable Polymers Market research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, and Regional and Country Level.
• Global Biodegradable Polymers Market report helps to identify opportunities in the marketplace.
• Global Biodegradable Polymers Market report covers extensive analysis of emerging trends and competitive landscape.