Plastic is the world’s most adaptable material, and it involves in the production of almost every product, starting from pen and food wraps to cars and planes. But worldwide plastic waste pollution has become a major environmental concern. According to the United Nations, plastic is polluting almost 90% of oceans, rivers, seas, and landfills; killing fish, and choking birds. Thus, there exists the necessity to go for an eco-friendly alternative material. Biodegradable plastic is one of such promising alternative for traditional plastic as it offers a new way of recovery and recycling of organic waste. Polylactic acid (PLA) is the leading type of biodegradable plastic among other polymers such as polyvinyl alcohol, polyhydroxyalkanoates, polybutylene, succinate, and polycaprolactone biodegradable polymers which are derived from renewable resources. Biomass waste and wood chips are the main raw materials used in the production of biodegradable plastic. Photodegradable and Oxo-degradable plastics decay at a faster pace in the presence of light and oxygen respectively
As per the findings of a newly published market research report by IndustryARC, the global biodegradable plastic market size was around $8 billion in 2018 and its value is estimated to grow at a progressive CAGR of around 11% during the forecast period 2019-2025. The report is titled: “Biodegradable Plastic Market: By Types (Biobased, Biodegradable, Fossil-based); By Feedstock (Sugarcane and sugar beet, Corn, Wood and Others); By End-User (Packaging, Automotive, Electrical & Electronics, Textiles, Medical and Others); & By Geography (North America, Europe, APAC and Row) – Forecast (2019-2025).”
According to the detailed analysis provided in the report, packaging was identified as the major application in the biodegradable plastic market, which is projected to grow with a healthy CAGR of around 9% over the forecast period 2019-2025. Due to the increasing formulations and durability of greener and stronger bioplastics coupled with its use in automotive, electronics, and consumer goods packaging are influencing the growth of packaging application in the biodegradable plastic market.
APAC occupied the largest share of more than 35% in the biodegradable plastic market for the year 2018. Owing to the switching adaption of biodegradable plastics to petroleum-derived plastics in eminent countries such as China, India, and Israel to overcome the shortage of fresh water in these countries is boosting the growth of the biodegradable plastic market in this region.
Global Biodegradable Plastic Market Companies: Recent Developments
Cargill Incorporated, Mitsubishi Chemical Corporation, NatureWorks are the key players operating in the biodegradable plastic market.
- Mitsubishi Chemical Corporation:
- Mitsubishi Chemical Corporation provides two bioplastic brands named BIOPBS, and DURABIO. In Sep 2018, Mitsubishi Chemical Corporation developed a paper cup using its BioPBS plant-derived and biodegradable plastic. Due to its high heat seal strength, the flexibility of this biodegradable product, it is recommended in Japan to use as an alternative for conventional polythene. This PBS has wide range applications such as paper cups, compost bags, agricultural mulch films, coffee, straws, capsules, and in food-related products. Research and development for this product has been increased as it is paving the path to establishing a recycling-oriented society by meeting the requirements associated with the sustainable development goals
- It is a leading biopolymers supplier and converts greenhouse gases such as carbon dioxide into polymers and PLA. NatureWorks LLC provides PLA bioplastics under a brand name INGEO which has a wide range of industrial and functional applications. These Ingeo bioplastic pellets are highly used in commercial products which include fibers, durable products and in rigid and flexible packaging
Biodegradable plastic is the best alternative for plastic as it decomposes well in the presence of microorganisms and avoids greenhouse gases emission thus it is beneficial to the environment. The growing regulations and bans of plastics are impacting the growth of biodegradable plastic market through to 2025.
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- Biodegradable Packaging Market