According to Technavio’s latest market research study, the global biodegradable polymers market is expected to grow at a CAGR of more than 21% during the forecast period 2017-2021.
This report by Technavio provides an in-depth analysis of the global biodegradable polymers market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the application type
Source: Technavio
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The top three revenue contributing application segments are discussed below
Biodegradable polymers in the food packaging sector: Biodegradable polymers find application in the manufacture of bottles, loose-fill, cups, pots, bowls, flexible films, and other products. Packaging products made of biodegradable polymers are used in the packaging of fresh food, dry snacks, candy, bakery goods, juice bottles, and meat trays as well as coatings for beverage cups, films, and card stock. Factors such as increased demand from food service providers owing to an increase in on-the-go consumption of food are expected to propel the growth of the biodegradable polymers market in the food packaging sector in the coming years.
“Biodegradable polymers are fast replacing conventional polyolefins in food packaging. In some cases, the performance of biodegradable polymers supersedes PET materials. For instance, the stiffness of PLA-based polymers enables better downgauging in rigid thermoformed packaging compared to PET,” says Ajay Adikari, a lead analyst at Technavio for research on plastics, polymers, and elastomers.
Biodegradable polymers in the foam packaging sector: Biodegradable foam packaging is an ideal replacement for polyethylene (PE) foam packaging that offers protection to glass, metals, porcelain, chrome, mirrors, and other fragile products. During the forecast period, the market for biodegradable polymers in the foam packaging sector is likely to be fueled by the projected upsurge in the demand from the automotive industry.
Biodegradable polymers in the biodegradable bags sector: Increased focus on reduction of plastic waste is causing a shift in preference from the use of low-density polyethylene (LDPE) and high-density polyethylene (HDPE), the preferred materials for the manufacture of carriers and disposable bags. PLA-based polymers address disposing challenges faced by the organic waste sector with a sustainable, compostable solution, and hence are gaining traction in the biodegradable bags sector.
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The top vendors operating in the global biodegradable polymers market are:
- Arkema
- BASF
- NatureWorks
- Novamont
- Plantic
Other prominent vendors in the market include Braskem, Cereplast, DSM, DuPont, Ecospan, Evonik Industries, FP International, Metabolix, Meredian Holdings Group, Toray and Industries.
A more detailed analysis is available in the Technavio report titled, ‘Global Biodegradable Polymers Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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