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Exactitude Consultancy Latest Published Biodegradable Plastics Market Research Report by Type (PLA, Starch Blends, PHA, PBAT, PBS, Biodegradable Polyesters), End Use Industry (Packaging, Consumer Goods, Textile, Agriculture & Horticulture) and by Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Global trends and forecast from 2022 to 2029
The market is broadly classified into type, end use industry and region. On the basis of type, the market is divided into starch-based, Polylactic Acid (PLA), Polybutylene Adipate Terephthalate (PBAT), Polybutylene Succinate (PBS), Polyhydroxyalkanoates (PHA), and others. Throughout the forecast period, the starch-based segment is expected to lead the market in terms of revenue and volume. End-use sectors such as packaging, vehicles, and agriculture employ starch-based polymers. In terms of revenue, the segment is expected to grow at a CAGR of 10.4 percent during the same time period. PLA-type plastics are also quickly gaining traction in the market. PLA’s lower cost than any other type is a primary reason driving the segment’s growth. Due to the rising use of PHA in medical and other applications, the market for PHA is expected to rise significantly over the forecast period. Tissue engineering, bone marrow scaffolds, and bone plates are some of the other medical applications. PHA is utilised in the creation of compost bags, agriculture foil and films, food and beverage packaging, and consumer items, among other things, fuelling its global growth.
Biodegradable plastics market size was valued at USD 5.9 billion in 2020 and is projected to reach USD 43.95 billion by 2029, growing at a CAGR of 25% from 2022 to 2029.
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