Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Bio-Based Biodegradable Plastics Market 2017-2027

Biodegradable biobased plastic is produced from renewable resources such as corn, potatoes, rice, soy, sugarcane, wheat, and vegetable oil. For instance, polylactic acid (PLA) is a biodegradable biobased plastic that produced from starch, polyhydroxybutyrate (PHB) is derived from microbial synthesis, and biobased polyethylene (bioPE) is produced by using sugar cane. Biobased plastic helps to reduce the dependency on non-renewable materials such as petroleum-based products. It also helps to reduce the greenhouse gases by up to 35%.

Market Estimates:

The global bio-based biodegradable plastics market was pegged at 1,073 KT in 2018, and is expected to reach 2,020 KT by end of 2027 with a CAGR of 6.6% (2019-27). 

Drivers:

Increasing initiatives by the government on reducing greenhouse emissions is projected to propel the market growth. For instance, in October 2015, the Indian government has announced to decrease the greenhouse gas emissions intensity – the ratio between gross emissions and a country’s GDP – by 33-35% of its 2005 levels by 2030. Moreover, in June 2019, the UK became the first key economy in the world to pass laws to end its contribution to global warming by 2050. The target will require the UK to cut down all greenhouse gas emissions to net-zero by 2050. Hence, rising such initiatives for reducing the greenhouse emission is projected to foster the market growth.

The rising launch of novel biobased plastic by the major manufacturer is expected to augment the market growth over the forecast period. For instance, in June 2019, LyondellBasell and Neste announce commercial-scale production of a bio-based plastic derived from renewable materials. The companies say it's the first time bio-based polypropylene and bio-based low-density polyethylene were produced simultaneously on a commercial scale. Therefore, rising initiatives by key manufacture to introduce bio-based plastic is expected to foster the market growth of biodegradable biobased plastic. 

Regional Outlook:

Europe dominated the global bio-based biodegradable plastics market in 2018, accounting for 48% share in terms of volume, followed by Asia Pacific and North America, respectively

Figure 1: Global bio-based biodegradable plastics market, 2018 volume share, By Region

Bio-Based Biodegradable Plastics  | Coherent Market Insights

Market Restraints

The high cost of the biobased plastic due to high manufacturing cost and lack of availability of raw materials is projected to restrict the market growth of biobased plastic. Moreover, the breakdown of the biodegradable plastic is dependent on the weather conditions and temperature and humidity play a very important role in the disposal of the biobased plastic as the composting process becomes slow when weather is cold and during humidity, the process comes to completely stop. Therefore, such factors are projected to hinder the market growth of biobased plastic.

Market Opportunities

Rising demand for bio-based plastic from food and beverage industry for packaging food products is projected to offer enormous growth opportunity in the market. For instance, starch and PLA are major biodegradable polymers that are used in packaging of food and beverages and they’re bio-based with no harmful chemical within the polymer. Therefore, the rising application of bio-based plastic from the packaging industry is projected to foster market growth over the forecast period.

Increasing application of biobased plastic for the production of the water bottle is expected to show lucrative growth opportunity over the forecast period. For instance, in January 2019, Nestlé and Danimer Scientific, a manufacturer of biodegradable plastic products, announced a global partnership to produce biodegradable bottles. The purpose of this collaboration is to design and manufacture bio-based resins for Nestlé’s water business using Danimer Scientific’s PHA polymer Nodax Hence, rising production of bio-based water is protected to foster market growth in the years to come.

Figure 2: Market Opportunities

Bio-Based Biodegradable Plastics  | Coherent Market Insights

Segment Insights:

Among application, packaging segment accounted for largest volume share of 64.8% in the global market in 2018.   

 

Figure 3: Global bio-based biodegradable plastics market, 2018 volume share, By Application

Bio-Based Biodegradable Plastics  | Coherent Market Insights

Market Trends/Key Takeaways

Rising research and development program for developing novel bioplastic and promote sustainability is gaining traction in the market. For instance, in October 2019, researchers at the UPV/EHU-University of the Basque Country and Colorado State University (USA) have developed a new and advanced class of renewable, biodegradable plastics and the scientists claim that these plastics are an improvement on existing ones and would promote the circular economy. Therefore, growing research and development program by research is projected to fuel the growth of the market over the forecast period.

Regulations

A new agreement, formed in late 2014, mandates that all the EU member countries implement policies associated with non-biodegradable plastics. Countries either need to reduce consumption of plastic by 90 lightweight bags per citizen by 2019 and 40 by 2025, or impose a fixed charge by 2018 for the usage of conventional lightweight plastic bags.

Competitive Section:

Players active in the market are Natureworks, BASF SE, Mitsubishi Chemical Corporation, Biome Bioplastics., Toray Industries, Total Corbion PLA, Plantic Technologies, Danimer Scientific, Bio-On, and Novamont S.P.A.

Few Recent DevelopmentsBASF SE

  • In May 2019, French biodegradable plastic producer Lactips has awarded a contract to BASF for the marketing of its water-soluble, bio-based and fully biodegradable material.

Mitsubishi Chemical Corporation

  • In June 2019, Mitsubishi Chemical Corp. has increased its production capacity for Durabio, a bio-based engineering plastic.
  • In December 2017, Mitsubishi Chemical Corp. and Mazda have jointly developed a new grade of Durabio bio-derived polycarbonate engineering plastic suitable for molding large cosmetic automotive parts.

The bio-based plastic industry witnessed remarkable growth after replacing conventional plastics due to eco-friendly nature, improved functionalities, and suitability for new applications across different industries. This has led to use of bio-based plastics in packaging, automotive, building & construction, and electronics industries.

Market Dynamics

Plastic pollution has become a major environmental concern globally. Around 4 Mn tons of garbage is disposed every day, out of which 15% (0.60 Mn tons) comprises plastics. Plastics are expected to account for 20% of the entire oil pollution in the following 25 years, compared to an estimated 7% in 2016. Plastic production has reached a record high of 311 Mn tons in 2014 and is expected to reach 1,135 Mn tons by 2050. Further aggravating the issue is the fact that only 7% of the plastics are recycled, while the remainder either end ups in oceans or landfills. Approximately 8 Mn tons of plastics are dumped into the ocean every year. These factors have increased consumer awareness and have shifted their inclination towards the usage of bioplastics. Furthermore, these concerns have also paved the way for several manufacturers to enter this market and attract the consumer base for bio-plastics.

Biobased plastic has poor thermal resistance and brittleness property which makes it less durable and restrict its use across various application. This is expected to hamper the market growth of biobased plastic. Moreover, the production of biodegradable plastic has a lengthy procedure and even contain harmful chemicals. Therefore, such a disadvantage associated with the biobased plastic is projected to hinder market growth.  

The growing trend of bio packaging among manufacturers is projected to foster market growth over the forecast period. For instance, in July 2019, Nestlé announced that its YES! fruit and nut bars will soon be packaged in recyclable paper wrappers that will decompose within six months, even in the ocean. Therefore, the growing demand for bio packaging is projected to propel the market growth over the forecast period.

Europe dominated the global bio-based biodegradable plastics market in 2018, terms of volume, and the region is projected to maintain its dominance throughout the forecast period. Changing manufacturer’s preference towards bio-based material for packaging and presence of large number of packaging manufacturers in the region is expected to fuel demand for biobased plastic over the forecast period.

Key features of the study:

  • This report provides in-depth analysis of Bio-based Biodegradable Plastics Market and provides market size (KT and US$ Million) and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2019 – 2027), considering 2018 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by key players
  • It profiles key players in the global Bio-based Biodegradable Plastics Market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study include, BASF SE, Mitsubishi Chemical Corporation, Biome Bioplastics., Toray Industries, Total Corbion PLA, Plantic Technologies, Danimer Scientific, Bio-On, Novamont S.P.A. among others.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future products launches, technology up-gradation, market expansion, and marketing tactics
  • The global Bio-based Biodegradable Plastics Market report caters to various stakeholders in this industry including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the Bio-based Biodegradable Plastics Market

Detailed Segmentation:

  • Global Bio-based Biodegradable Plastics Market, By Product Type:
    • PLA (Polylactic Acid)
    • PHA (Polyhydroxyalkanoates)
    • Starch blends
    • Polyesters
    • Regenerated cellulose
    • Others
  • Global Bio-based Biodegradable Plastics Market, By Application:
    • Packaging
    • Fibers
    • Agriculture
    • Medicine
    • Others
  • Global Bio-based Biodegradable Plastics Market, By Geography:
    • North America
      • U.S.
        • By Product Type:
          • PLA (Polylactic Acid)
          • PHA (Polyhydroxyalkanoates)
          • Starch blends
          • Polyesters
          • Regenerated cellulose
          • Others
        • By Application:
          • Packaging
          • Fibers
          • Agriculture
          • Medicine
          • Others  
      • Canada
        • By Product Type:
          • PLA (Polylactic Acid)
          • PHA (Polyhydroxyalkanoates)
          • Starch blends
          • Polyesters
          • Regenerated cellulose
          • Others
        • By Application:
          • Packaging
          • Fibers
          • Agriculture
          • Medicine
          • Others
    • Europe
      • U.K.
        • By Product Type:
          • PLA (Polylactic Acid)
          • PHA (Polyhydroxyalkanoates)
          • Starch blends
          • Polyesters
          • Regenerated cellulose
          • Others
        • By Application:
          • Packaging
          • Fibers
          • Agriculture
          • Medicine
          • Others
      • Germany
        • By Product Type:
          • PLA (Polylactic Acid)
          • PHA (Polyhydroxyalkanoates)
          • Starch blends
          • Polyesters
          • Regenerated cellulose
          • Others
        • By Application:
          • Packaging
          • Fibers
          • Agriculture
          • Medicine
          • Others
      • Italy
        • By Product Type:
          • PLA (Polylactic Acid)
          • PHA (Polyhydroxyalkanoates)
          • Starch blends
          • Polyesters
          • Regenerated cellulose
          • Others
        • By Application:
          • Packaging
          • Fibers
          • Agriculture
          • Medicine
          • Others
      • France
        • By Product Type:
          • PLA (Polylactic Acid)
          • PHA (Polyhydroxyalkanoates)
          • Starch blends
          • Polyesters
          • Regenerated cellulose
          • Others
        • By Application:
          • Packaging
          • Fibers
          • Agriculture
          • Medicine
          • Others
      • Russia
        • By Product Type:
          • PLA (Polylactic Acid)
          • PHA (Polyhydroxyalkanoates)
          • Starch blends
          • Polyesters
          • Regenerated cellulose
          • Others
        • By Application:
          • Packaging
          • Fibers
          • Agriculture
          • Medicine
          • Others
      • Rest of Europe
        • By Product Type:
          • PLA (Polylactic Acid)
          • PHA (Polyhydroxyalkanoates)
          • Starch blends
          • Polyesters
          • Regenerated cellulose
          • Others
        • By Application:
          • Packaging
          • Fibers
          • Agriculture
          • Medicine
          • Others
    • Asia Pacific
      • China
        • By Product Type:
          • PLA (Polylactic Acid)
          • PHA (Polyhydroxyalkanoates)
          • Starch blends
          • Polyesters
          • Regenerated cellulose
          • Others
        • By Application:
          • Packaging
          • Fibers
          • Agriculture
          • Medicine
          • Others
      • India
        • By Product Type:
          • PLA (Polylactic Acid)
          • PHA (Polyhydroxyalkanoates)
          • Starch blends
          • Polyesters
          • Regenerated cellulose
          • Others
        • By Application:
          • Packaging
          • Fibers
          • Agriculture
          • Medicine
          • Others
      • Japan
        • By Product Type:
          • PLA (Polylactic Acid)
          • PHA (Polyhydroxyalkanoates)
          • Starch blends
          • Polyesters
          • Regenerated cellulose
          • Others
        • By Application:
          • Packaging
          • Fibers
          • Agriculture
          • Medicine
          • Others
      • ASEAN
        • By Product Type:
          • PLA (Polylactic Acid)
          • PHA (Polyhydroxyalkanoates)
          • Starch blends
          • Polyesters
          • Regenerated cellulose
          • Others
        • By Application:
          • Packaging
          • Fibers
          • Agriculture
          • Medicine
          • Others
      • Australia
        • By Product Type:
          • PLA (Polylactic Acid)
          • PHA (Polyhydroxyalkanoates)
          • Starch blends
          • Polyesters
          • Regenerated cellulose
          • Others
        • By Application:
          • Packaging
          • Fibers
          • Agriculture
          • Medicine
          • Others
      • South Korea
        • By Product Type:
          • PLA (Polylactic Acid)
          • PHA (Polyhydroxyalkanoates)
          • Starch blends
          • Polyesters
          • Regenerated cellulose
          • Others
        • By Application:
          • Packaging
          • Fibers
          • Agriculture
          • Medicine
          • Others
      • Rest of Asia Pacific
        • By Product Type:
          • PLA (Polylactic Acid)
          • PHA (Polyhydroxyalkanoates)
          • Starch blends
          • Polyesters
          • Regenerated cellulose
          • Others
        • By Application:
          • Packaging
          • Fibers
          • Agriculture
          • Medicine
          • Others
    • Latin America
      • Brazil
        • By Product Type:
          • PLA (Polylactic Acid)
          • PHA (Polyhydroxyalkanoates)
          • Starch blends
          • Polyesters
          • Regenerated cellulose
          • Others
        • By Application:
          • Packaging
          • Fibers
          • Agriculture
          • Medicine
          • Others
      • Mexico
        • By Product Type:
          • PLA (Polylactic Acid)
          • PHA (Polyhydroxyalkanoates)
          • Starch blends
          • Polyesters
          • Regenerated cellulose
          • Others
        • By Application:
          • Packaging
          • Fibers
          • Agriculture
          • Medicine
          • Others
      • Argentina
        • By Product Type:
          • PLA (Polylactic Acid)
          • PHA (Polyhydroxyalkanoates)
          • Starch blends
          • Polyesters
          • Regenerated cellulose
          • Others
        • By Application:
          • Packaging
          • Fibers
          • Agriculture
          • Medicine
          • Others
      • Rest of Latin America
        • By Product Type:
          • PLA (Polylactic Acid)
          • PHA (Polyhydroxyalkanoates)
          • Starch blends
          • Polyesters
          • Regenerated cellulose
          • Others
        • By Application:
          • Packaging
          • Fibers
          • Agriculture
          • Medicine
          • Others
    • Middle East
      • GCC
        • By Product Type:
          • PLA (Polylactic Acid)
          • PHA (Polyhydroxyalkanoates)
          • Starch blends
          • Polyesters
          • Regenerated cellulose
          • Others
        • By Application:
          • Packaging
          • Fibers
          • Agriculture
          • Medicine
          • Others
      • Rest of Middle East
        • By Product Type:
          • PLA (Polylactic Acid)
          • PHA (Polyhydroxyalkanoates)
          • Starch blends
          • Polyesters
          • Regenerated cellulose
          • Others
        • By Application:
          • Packaging
          • Fibers
          • Agriculture
          • Medicine
          • Others
    • Africa
      • North Africa
        • By Product Type:
          • PLA (Polylactic Acid)
          • PHA (Polyhydroxyalkanoates)
          • Starch blends
          • Polyesters
          • Regenerated cellulose
          • Others
        • By Application:
          • Packaging
          • Fibers
          • Agriculture
          • Medicine
          • Others
      • Central Africa
        • By Product Type:
          • PLA (Polylactic Acid)
          • PHA (Polyhydroxyalkanoates)
          • Starch blends
          • Polyesters
          • Regenerated cellulose
          • Others
        • By Application:
          • Packaging
          • Fibers
          • Agriculture
          • Medicine
          • Others
      • South Africa
        • By Product Type:
          • PLA (Polylactic Acid)
          • PHA (Polyhydroxyalkanoates)
          • Starch blends
          • Polyesters
          • Regenerated cellulose
          • Others
        • By Application:
          • Packaging
          • Fibers
          • Agriculture
          • Medicine
          • Others
  • Company Profiles
    • BASF SE*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Mitsubishi Chemical Corporation
    • Biome Bioplastics.
    • Toray Industries
    • Total Corbion PLA
    • Plantic Technologies
    • Danimer Scientific
    • Bio-On
    • Novamont S.P.A.

 “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objective and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
        • Supply Side Drivers
        • Demand Side Drivers
        • Economic Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Mergers and Acquisitions
      • New Product Approvals/Launch
      • Promotion and Marketing Initiatives
    • Cost Tier Down Analysis
  4. Global Bio-based Biodegradable Plastics Market, By Product Type, 2017 - 2027 (KT and US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
      • Segment Trends
    • Polyesters
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (KT and US$ Million)
    • PLA (Polylactic Acid)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (KT and US$ Million)
    • PHA (Polyhydroxyalkanoates)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (KT and US$ Million)
    • Starch blends
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (KT and US$ Million)
    • Regenerated Cellulose
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (KT and US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (KT and US$ Million)
  5. Global Bio-based Biodegradable Plastics Market, By Application, 2017 - 2027 (KT and US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
      • Segment Trends
    • Packaging
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (KT and US$ Million)
    • Fibers
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (KT and US$ Million)
    • Agriculture
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (KT and US$ Million)
    • Medicine
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (KT and US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (KT and US$ Million)
  6. Global Bio-based Biodegradable Plastics Market, By Region, 2017- 2027 (KT and US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Regions, 2019 - 2027
    • North America
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
        • U.S.
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (KT and US$ Million)
          • Market Size and Forecast, By Application, 2017- 2027 (KT and US$ Million)
        • Canada
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (KT and US$ Million)
          • Market Size and Forecast, By Application, 2017- 2027 (KT and US$ Million)
    • Europe
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
        • U.K.
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (KT and US$ Million)
          • Market Size and Forecast, By Application, 2017- 2027 (KT and US$ Million)
        • Germany
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (KT and US$ Million)
          • Market Size and Forecast, By Application, 2017- 2027 (KT and US$ Million)
        • Italy
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (KT and US$ Million)
          • Market Size and Forecast, By Application, 2017- 2027 (KT and US$ Million)
        • France
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (KT and US$ Million)
          • Market Size and Forecast, By Application, 2017- 2027 (KT and US$ Million)
        • Russia
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (KT and US$ Million)
          • Market Size and Forecast, By Application, 2017- 2027 (KT and US$ Million)
        • Rest of Europe
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (KT and US$ Million)
          • Market Size and Forecast, By Application, 2017- 2027 (KT and US$ Million)
    • Asia Pacific
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
        • China
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (KT and US$ Million)
          • Market Size and Forecast, By Application, 2017- 2027 (KT and US$ Million)
        • India
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (KT and US$ Million)
          • Market Size and Forecast, By Application, 2017- 2027 (KT and US$ Million)
        • Japan
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (KT and US$ Million)
          • Market Size and Forecast, By Application, 2017- 2027 (KT and US$ Million)
        • ASEAN
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (KT and US$ Million)
          • Market Size and Forecast, By Application, 2017- 2027 (KT and US$ Million)
        • Australia
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (KT and US$ Million)
          • Market Size and Forecast, By Application, 2017- 2027 (KT and US$ Million)
        • South Korea
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (KT and US$ Million)
          • Market Size and Forecast, By Application, 2017- 2027 (KT and US$ Million)
        • Rest of Asia Pacific
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (KT and US$ Million)
          • Market Size and Forecast, By Application, 2017- 2027 (KT and US$ Million)
    • Latin America
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
        • Brazil
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (KT and US$ Million)
          • Market Size and Forecast, By Application, 2017- 2027 (KT and US$ Million)
        • Mexico
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (KT and US$ Million)
          • Market Size and Forecast, By Application, 2017- 2027 (KT and US$ Million)
        • Argentina
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (KT and US$ Million)
          • Market Size and Forecast, By Application, 2017- 2027 (KT and US$ Million)
        • Rest of Latin America
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (KT and US$ Million)
          • Market Size and Forecast, By Application, 2017- 2027 (KT and US$ Million)
    • Middle East
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
        • GCC
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (KT and US$ Million)
          • Market Size and Forecast, By Application, 2017- 2027 (KT and US$ Million)
        • Rest of Middle East
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (KT and US$ Million)
          • Market Size and Forecast, By Application, 2017- 2027 (KT and US$ Million)
    • Africa
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
      • North Africa
        • Country Trends
        • Market Size and Forecast, By Product Type, 2017- 2027 (KT and US$ Million)
        • Market Size and Forecast, By Application, 2017- 2027 (KT and US$ Million)
      • Central Africa
        • Country Trends
        • Market Size and Forecast, By Product Type, 2017- 2027 (KT and US$ Million)
        • Market Size and Forecast, By Application, 2017- 2027 (KT and US$ Million)
      • South Africa
        • Country Trends
        • Market Size and Forecast, By Product Type, 2017- 2027 (KT and US$ Million)
        • Market Size and Forecast, By Application, 2017- 2027 (KT and US$ Million)
  7. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis (3x3 Matrix)
    • Company Profiles
      • BASF SE
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Mitsubishi Chemical Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Biome Bioplastics
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Toray Industries
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Total Corbion PLA
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Plantic Technologies
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Danimer Scientific
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Bio-On
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Novamont S.P.A.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

* Brows 50 market data tables* and 38 figures* on "Bio-based Biodegradable Plastics Market” - Global forecast to 2027

Frequently Asked Questions

The global bio-based biodegradable plastics market is estimated to reach 2,020 KT by end of 2027.
Major players operating in the global bio-based biodegradable plastics market include Natureworks, BASF SE, Mitsubishi Chemical Corporation, Biome Bioplastics., Toray Industries, Total Corbion PLA, Plantic Technologies, Danimer Scientific, Bio-On, and Novamont S.P.A.
High cost of the bio-based plastic, owing to high manufacturing cost and lack of availability of raw materials is one of the major factors that is expected to hamper growth of the market over the forecast period.
Increasing initiatives by the government on reducing greenhouse emissions, coupled with rising launches of novel bio-based plastic by the major market players are some of the major factors that are expected to propel growth of the market over the forecast period.
The global bio-based biodegradable plastics market is expected to exhibit a CAGR of 6.6% over the forecast period (2019-2027).
Among regions, Europe held a dominant position in the global bio-based biodegradable plastics market in 2018, accounting for 48% share, in terms of volume, followed by Asia Pacific and North America, respectively.
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