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Global Biobased Biodegradable Plastics Market to Emerge Rapidly, Thanks to Favorable Legislation

Blog Description

Global market for biobased biodegradable plastics is greatly driven by the regulatory framework governing it. Legislation in this sector includes a
packaging waste directive that aims at recovery and recycling targets, a number of plastic bag bans, and other collection and waste disposal laws that
prevent landfill. Most international standards (for example ASTM D6400) require at least 90% biodegradation of a product within six months, along with
other materials which are considered compostable.

Browse the full Global Biobased Biodegradable Plastics Market Report

A polymer is considered to a biodegradable/compostable if it meets the below three criteria:

1. Biodegradation: The polymer has to break down into water, carbon dioxide, and biomass similar to food waste

2. Disintegration: It has to be indistinguishable in the compost matter

3. Non-toxic: It has be non-poisonous after disintegration

According to a research study from Future Market Insights (FMI) featured on Market Research Reports Search Engine (MRRSE), the global penetration of
biodegradable and biobased biodegradable plastics is presently substantially lower as compared to conventional fossil fuel-based plastics. Out of the 300
million metric tons of plastics consumed in 2013, biodegradable plastics contributed to a negligible 0.21% of the total consumption. Though the consumption
of biobased biodegradable plastics is quite low compared to the conventional plastics, it is expected to grow rapidly in the coming five years.

The global market for biobased biodegradable plastics in 2014 was estimated at 665.7 thousand tons and is expected to soar at a 12.6% CAGR during the
forecast period between 2014 and 2020 and reach 1,356.9 thousand tons by 2020.

Key Trends in the Biobased Biodegradable Plastics

Factors such as altering capacity utilization rates across regions, growing cost of energy resulting in elevated product cost, along with the supply-demand
gap will influence the pricing of biobased biodegradable plastics.

The global market for biobased biodegradable plastics by product type is divided into polyester, poly lactic acid (PLA), starch blends,
polyhydroxyalkanoate (PHA), cellulose, and others. In 2014, around 88% of the market share was held by polyester, PLA, and starch blends collectively.
According to application, the global market for biobased biodegradable plastics is segmented into packaging, agriculture, healthcare, fibers, and others.
The global market for biobased biodegradable plastics is dominated by packaging application that held 65% of the market in 2014.

Browse the full Press Release of Biobased Biodegradable Plastics Market

Geographically, the global market for biobased biodegradable plastics is classified into Western Europe, North America, Asia Pacific, Eastern Europe, Latin
America, Japan, and MENA. Western Europe leads the global market for biobased biodegradable plastics and held 44% share in 2014. Developed economies of the
world are anticipated to expand at an 11.2% CAGR and developing countries at a 15.4% CAGR during the forecast period.

The global market for biobased biodegradable plastics is highly fragmented in nature as a number of large and small firms are investing in the field of
bio-plastics and polymers. BASF currently markets a product called Ecovio that is a blend of its biodegradable plastic Ecoflex and PLA, which is thin
plastic film used for garbage or shopping bags. Other prominent firms in this market are Novamont, NatureWorks, Synbra Technologies, Metabolix, Mitsubshi
Chemical, and Corbion.