The “Global Biodegradable Plastic Market to 2027 – Analysis and Forecasts by Type (PLA, PHA, Starch Blends, PBS, PBAT, and Others), End User (Packaging and Bags, Agriculture & Horticulture, Consumer Goods, and Others), and Geography” The scope of study involves understanding on the factors responsible for this growth of Biodegradable Plastic market along with the estimates and forecasts of the revenue and market share analysis and also spots the significant Biodegradable Plastic players in the market and their key developments.

The global biodegradable plastic market is accounted to US$ 2,989.8 Mn in 2018 and is expected to grow at a CAGR of 14.5% during the forecast period 2019 – 2027, to account to US$ 10,086.2 Mn by 2027. Europe holds the largest share in the global biodegradable plastic market. The market share of the European region is primarily attributed to high pressure by governments regarding usage of biodegradable plastics to control disposable of conventional plastics, which leads to deterioration of the quality of the soil. Growing packed food products market, along with increasing consumer goods industry, in the European countries such as Germany, France, and Italy is anticipated to drive the biodegradable plastics market in the coming years. Moreover, growing awareness among people toward plastic waste, coupled with the ban on the single-use plastics in the European Union is likely to propel the biodegradable plastic market growth in Europe over the forecast period. Also, the biodegradable plastic market in Europe is characterized by the strong presence of players such as API S.p.A., BASF SE, FKuR Kunststoff GmbH, Novamont S.p.A, Kingfa Sci. & Tech. Co., Ltd., and Mitsubishi Chemical Corporation.

Biodegradable plastics such as PLA; PCL; poly lactic-co-glycolic acid (PLGA) and poly-hydroxyalkanoate (PHA), as well as their copolymers, are used in the human centric biomedical applications. For example, PLA is widely used in medical applications due to its biocompatibility and bio dissolvability in the human body by the hydrolysis of the ester backbone to obtain non-harmful and nontoxic compounds after degradation. PLA and its copolymers are also used in wound management applications, including the manufacturing of surgical sutures, prevention of postoperative adhesions, and healing of dental wounds. PLA is used in drug delivery systems because it is complete biodegradability, and has better encapsulation capacity, biocompatibility, and low toxicity. Biodegradable plastics are used in orthopedic applications to avoid a second surgical procedure to remove unnecessary hardware.

The biodegradable plastics produced from biomass and other renewable resources, such as polylactic acid (PLA), and polyhydroxyalkanoates (PHA), are gaining popularity as material of choice for biomedical applications due to their good physical properties. The beneficial properties of these materials include crystallinity, high storage modulus, high glass transition temperature, and bioresorbability. For instance, the German chemicals company—Evonik—has developed a range of biodegradable polymers for use in medical devices and sustained drug release implants. The biodegradable plastic have wide applications in tissue engineering, wound management, and drug delivery as well as in the manufacturing of orthopedic devices, and fibrous and porous scaffolds.

The global biodegradable plastic market by geography is segmented into five regions, including North America, Europe, Asia Pacific, Middle East and Africa, and South America. The Europe region is expected to account for the largest share of the global biodegradable plastic market in 2018, followed by North America and Asia Pacific. In addition the Germany in the Europe region is expected to significantly drive the biodegradable plastic market and also expected to continue its dominance in terms of CAGR throughout the forecast period from 2019 to 2027. Some of the major players in the biodegradable plastic market include API S.p.A., BASF SE, FKuR Kunststoff GmbH, Green Dot Bioplastics, Novamont S.p.A., Kingfa Sci. & Tech. Co., Ltd., GuangDong Huazhilu Biological Material Co., Ltd., Mitsubishi Chemical Corporation, Plantic Technologies Limited, and Total Corbion PLA, among others.

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