The environmental hazard caused by the use of non degradable plastics and safety concerns related to that is one of the factors which are helping the biodegradable plastics market to grow. Some other factors which are driving the biodegradable market to grow includes: government support in form of tax rebates to green packaging companies and growing consumer awareness for minimizing waste. These factors when combined together with growing number of researches it is true to say that the global biodegradable plastics market is moving towards sustainability. The global biodegradable plastics market is broadly classified into two categories: Bio-based (renewable) biodegradable plastics and synthetic (petroleum based) biodegradable plastics.
During the last decade consumers have become more aware about the hazards associated with the usage of conventional plastics and moreover, the packaging industry is also shifting towards green packaging catering to the need of consumers. As packaging industry is the biggest market for plastics so tend to have an impact on both degradable and non-degradable plastics market. The cheap feedstock supply available is also helping the biodegradable market to grow.
The below diagram illustrates the substitution potential of biodegradable plastics v/s conventional plastics in various segments of plastics market. It is evident that polypropylene (PP) and high density polyethylene (HDPE) are the major markets which can be substituted. However, segments like LDPE, LLDPE, poly styrene (PS) and PVC are reflecting downside trend and has negative future outlook. The most accepted bio degradable plastic type clearly is polyhydroxyalkanoates (PHA) which shows a variety of application and is penetrating the market easily.
- Definition, estimates and forecast of synthetic and bio-based biodegradable product market from 2011 to 2018
- Analysis of product segments for synthetic and bio-based biodegradable application market with historical data and forecast
- Trends and forecast for four geographic markets, namely North America, Europe, Asia-Pacific and RoW based on segments of synthetic and bio-based biodegradable product market
- Profiles of major market participants for better understanding of their contributions
- Polycaprolactone (PCL)
- Polybutylene Succinate (PBS)
- Starch based plastics
- Poly Lactic acid (PLA)
- Polyhydroxyalkanoates (PHA)
- North America
- Rest of the World (RoW)