The global biodegradable polymer market revenue was around US$ 7.25 billion in 2022 and is estimated to reach US$ 24.3 billion by 2031, growing at a compound annual growth rate (CAGR) of 14.4% during the forecast period from 2023 to 2031.
Biodegradable polymers break down into smaller particles in nature by factors like bacteria and the environment. Depending on the source of their feedstock, they can be classified as either synthetic biodegradable polymers made from petroleum or natural biodegradable polymers produced by nature. They are preferred in comparison to non-biodegradable polymers because they are less hazardous, have fewer adverse effects, and increase patient compliance.
Market Driving Factors
Regional Analysis
Europe dominated the market in terms of revenue during the forecast period. This can be attributed to the high awareness among persons towards polymers waste coupled with European Union ban on single-use polymers. Furthermore, due to several factors, including the increased R&D spending in the bioplastics industry by both public and commercial organizations. Therefore, all these elements are predicted to boost market growth.
Segmentation Insights
Type Insight
PHA (Polyhydroxyalkanoates) segment is anticipated to dominate the market during the projection period. This is due to the rising use of pharmaceuticals and other applications. PHA is mostly used in medical settings, such as in implantable devices and the encapsulation of medications. Other medical applications include bone plates, tissue engineering, and bone marrow scaffolds. This segment is used in the production of agricultural foil and films, compost bags, food and beverage packaging, and consumer goods in addition to its medical uses, which has contributed to fuel the market growth.
End-Use Insight
The packaging segment dominated the market in terms of revenue. This segment is one of the main application sectors for biodegradable polymers. It is utilized in both flexible and rigid packaging. The replacement of traditional polymers these polymers in food packaging like wraps, cups, and boxes gaining momentum, which supports the market growth.
The agriculture and horticulture segment dominates the market. The utilization of biodegradable mulch film ensures soil water conservation, the control of weed growth, and the maintenance of a favorable soil temperature to promote quicker crop development. The growing use of biodegradable polymers in consumer products is fuel in developed economies. Such these factors are anticipated to drive the segment growth.
Prominent Companies
Segmentation Outline
The global biodegradable polymer market segmentation focuses on Type, End-Use, and Regions.
By Type
By End-Use
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL BIODEGRADABLE POLYMER MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: BIODEGRADABLE POLYMER MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL BIODEGRADABLE POLYMER MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL BIODEGRADABLE POLYMER MARKET, BY TYPE
5.1 OVERVIEW
5.2 PLA (POLYLACTIC ACID)
5.3 STARCH BLENDS
5.4 PHA (POLYHYDROXYALKANOATES)
5.5 BIODEGRADABLE POLYESTERS
6 GLOBAL BIODEGRADABLE POLYMER MARKET, BY END-USE
6.1 OVERVIEW
6.2 PACKAGING
6.3 CONSUMER GOODS
6.4 TEXTILES
6.5 AGRICULTURE & HORTICULTURE
7 GLOBAL BIODEGRADABLE POLYMER MARKET, BY GEOGRAPHY
7.1 OVERVIEW
7.2 NORTH AMERICA
7.2.1 NORTH AMERICA MARKET SNAPSHOT
7.2.2 U.S.
7.2.3 CANADA
7.2.4 MEXICO
7.3 EUROPE
7.3.1 EUROPE MARKET SNAPSHOT
7.3.2 WESTERN EUROPE
7.3.2.1 THE UK
7.3.2.2 GERMANY
7.3.2.3 FRANCE
7.3.2.4 ITALY
7.3.2.5 SPAIN
7.3.2.6 REST OF WESTERN EUROPE
7.3.3 EASTERN EUROPE
7.3.3.1 POLAND
7.3.3.2 RUSSIA
7.3.3.3 REST OF EASTERN EUROPE
7.4 ASIA PACIFIC
7.4.1 ASIA PACIFIC MARKET SNAPSHOT
7.4.2 CHINA
7.4.3 JAPAN
7.4.4 INDIA
7.4.5 AUSTRALIA & NEW ZEALAND
7.4.6 ASEAN
7.4.7 REST OF ASIA PACIFIC
7.5 MIDDLE EAST & AFRICA
7.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
7.5.2 UAE
7.5.3 SAUDI ARABIA
7.5.4 SOUTH AFRICA
7.5.5 REST OF MEA
7.6 SOUTH AMERICA
7.6.1 SOUTH AMERICA MARKET SNAPSHOT
7.6.2 BRAZIL
7.6.3 ARGENTINA
7.6.4 REST OF SOUTH AMERICA
8 GLOBAL BIODEGRADABLE POLYMER MARKET COMPETITIVE LANDSCAPE
8.1 OVERVIEW
8.2 COMPANY MARKET RANKING
8.3 KEY DEVELOPMENT STRATEGIES
8.4 COMPETITIVE DASHBOARD
8.5 PRODUCT MAPPING
8.6 TOP PLAYER POSITIONING, 2022
8.7 COMPETITIVE HEATMAP
8.8 TOP WINNING STRATEGIES
9 COMPANY PROFILES
9.1 BASF
9.1.1 OVERVIEW
9.1.2 FINANCIAL PERFORMANCE
9.1.3 PRODUCT OUTLOOK
9.1.4 KEY DEVELOPMENTS
9.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.2 NATUREWORKS
9.2.1 OVERVIEW
9.2.2 FINANCIAL PERFORMANCE
9.2.3 PRODUCT OUTLOOK
9.2.4 KEY DEVELOPMENTS
9.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.3 TOTAL CORBION
9.3.1 OVERVIEW
9.3.2 FINANCIAL PERFORMANCE
9.3.3 PRODUCT OUTLOOK
9.3.4 KEY DEVELOPMENTS
9.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.4 NOVAMONT
9.4.1 OVERVIEW
9.4.2 FINANCIAL PERFORMANCE
9.4.3 PRODUCT OUTLOOK
9.4.4 KEY DEVELOPMENTS
9.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.5 BIOME BIOPLASTICS
9.5.1 OVERVIEW
9.5.2 FINANCIAL PERFORMANCE
9.5.3 PRODUCT OUTLOOK
9.5.4 KEY DEVELOPMENTS
9.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.6 MITSUBISHI CHEMICAL HOLDING CORPORATION
9.6.1 OVERVIEW
9.6.2 FINANCIAL PERFORMANCE
9.6.3 PRODUCT OUTLOOK
9.6.4 KEY DEVELOPMENTS
9.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.7 TORAY INDUSTRIES
9.7.1 OVERVIEW
9.7.2 FINANCIAL PERFORMANCE
9.7.3 PRODUCT OUTLOOK
9.7.4 KEY DEVELOPMENTS
9.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.8 PLANTIC TECHNOLOGIES LTD
9.8.1 OVERVIEW
9.8.2 FINANCIAL PERFORMANCE
9.8.3 PRODUCT OUTLOOK
9.8.4 KEY DEVELOPMENTS
9.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.9 DANIMER SCIENTIFIC
9.9.1 OVERVIEW
9.9.2 FINANCIAL PERFORMANCE
9.9.3 PRODUCT OUTLOOK
9.9.4 KEY DEVELOPMENTS
9.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.10 FKUR KUNSTSTOFF GMBH
9.10.1 OVERVIEW
9.10.2 FINANCIAL PERFORMANCE
9.10.3 PRODUCT OUTLOOK
9.10.4 KEY DEVELOPMENTS
9.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.11 RODENBURG BIOPOLYMERS
9.11.1 OVERVIEW
9.11.2 FINANCIAL PERFORMANCE
9.11.3 PRODUCT OUTLOOK
9.11.4 KEY DEVELOPMENTS
9.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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