United State- Report Ocean (150+ country’s markets analyzed, function on 1,00000+ published and forthcoming reports every year.] presents a research report and top winning strategies for the Biodegradable Polymer Market. Best subject matter experts, researchers, and market research professionals organized this report in order to ensure that the information in it is compiled from the most authentic sources and that the forecast is of the highest accuracy. To forecast market growth, specialists employ a variety of methodologies and analytical approaches, including S.W.O.T. (analysis methods), P.E.S.T.E.L. analysis, and regression analysis. The Biodegradable Polymer study also looks at the various regulations and policies that the firm has implemented. This report discusses the industry in terms of research technology and precise prospective utilization, innovation, and future advancements in the Biodegradable Polymer Market.
The global biodegradable polymer market size was US$ 1.6 billion in 2021. The global biodegradable polymer market is forecast to grow to US$ 2.5 billion by 2030 by growing at a compound annual growth rate (CAGR) of 7.5% during the forecast period from 2022 to 2030.
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Biodegradable polymers are polymers (plastics) derived from fossil fuels that decompose to develop carbon dioxide and water through a natural and artificial process.
Factors Influencing the Market
Biodegradable polymers find a wide range of applications across various end-use verticals, such as healthcare, agriculture, consumer goods, etc. Thus, these factors will contribute to the growth of the global biodegradable polymers market during the forecast period.
Growing income, majorly in developing economies, will contribute to the growth of the global biodegradable polymers market during the forecast period. In addition, the fact that these polymers are used in a variety of healthcare applications, such as surgical sutures, tissue regeneration, wound dressings, and enzyme immobilization will pave the path for market growth. Apart from that, growing healthcare expenditure across the world will contribute to the growth of the global biodegradable polymers market during the study period.
Growing emphasis by government bodies to reduce plastic waste and recycle plastic products will also escalate the demand for biodegradable polymer during the study period. On the contrary, high manufacturing costs for biodegradable polymers may restrict the growth of the market during the forecast period.
COVID-19 Impact Analysis
The COVID-19 pandemic has significantly surged health consciousness among people. The demand for efficient biodegradable products is steeply increasing to save the environment and limit the hazardous effects of non-biodegradable plastic. As a result, it will bring potential growth opportunities for the biodegradable polymers market during the study period. However, the flagging of R&D activities due to sudden economic disruptions negatively affected the global biodegradable polymer market.
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Europe is forecast to hold the largest share in the global biodegradable polymers market in terms of region. The growth of this market is attributed to growing technological advancements, rising consumer awareness, and increasing government initiatives to surge the adoption of renewable polymers across all industries. Further, growing consumer inclination towards environment-friendly packaging and products will benefit this regional biodegradable polymer market during the study period.
The Asia-Pacific biodegradable polymer market is forecast to register a significant growth rate, owing to the growing population and rising healthcare expenditure in the region. Further, the rising employment rate will also increase the demand for efficient consumer goods. Thus, it will offer ample growth opportunities for the biodegradable polymers market. In addition, growing concerns over the hazardous impact of non-biodegradable plastic in the region will also benefit the biodegradable polymers market in the region.
Competitors in the Market
• Novamont S.p. A.
• BASF SE
• Rodenburg Polymers
• Total Corbion PLA bv
• Plantic Technologies
• Danimer Scientific
• Mitsubishi Chemical
• Toray Industries
• Other Prominent Players
The global biodegradable polymer market segmentation focuses on Product, End-User, and Region.
• Starch-based Plastics
• Polylactic Acid
• Polyhydroxy Alkenoates
• Cellulose Derivatives
• Consumer Goods
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By Regional Outlook
● North America
o The U.S.
o The UK
o Rest of Western Europe
o Rest of Eastern Europe
● Asia Pacific
o Australia & New Zealand
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Rest of South America
What are the key findings of the report?
This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
The report offers the current state of the market and future prospects for various geographical regions.
This report provides both qualitative and quantitative information about the competitive landscape of the market.
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