The biodegradable polymers market was valued at $7.9 billion in 2023, and is projected to reach $55.2 billion by 2033, growing at a CAGR of 21.5% from 2024 to 2033.
Biodegradable polymers are a class of polymers that not only decompose faster when discarded but can also be easily recycled. One of the key benefits of using biodegradable polymers to produce plastic bags is the significant reduction of carbon emissions during the production process, thereby mitigating greenhouse gas emissions. They find their major application in the medical and pharmaceutical sectors. For instance, biodegradable polymers are widely used in surgical sutures and implants. In addition, they have been used as carriers in drug delivery systems. Furthermore, the use of biodegradable biopolymers to manufacture containers and packaging in the food industry is one of the major applications.
The growth of the global biodegradable polymers market is majorly driven by alarming increase in environmental concerns and rise in government initiatives to reduce conventional plastic waste. For instance, with effect from September 30, 2021, the Government of India enforced manufacturers to increase the thickness of plastic carry bags from 50 microns to 75 microns and to 120 microns with effect from the December 31, 2022. This initiative enabled the reuse of plastic due to increase in thickness. In addition, rise in consumer preference toward eco-friendly products is driving the demand for biodegradable polymers. However, high production cost of biodegradable polymers as compared to conventional plastic acts as a key deterrent factor of the global market. Moreover, the blend of traditional and bio-based plastics complicates waste management, as they make sorting and recycling processes more difficult and less efficient. Traditional plastics and bio-based plastics often require different recycling methods, and improper disposal can lead to contamination, reducing the quality of recycled materials and increasing processing costs. To overcome this concern, researchers from Lawrence Berkeley National Laboratory (Berkeley Lab) and the Joint BioEnergy Institute (JBEI) partnered with X - the moonshot incubator under Alphabet, Google's parent company, in November 2023. The aim is not just to bypass the challenging separation process but also to enhance the final product's environmental impact. Such developments are expected to open new avenues for the expansion of the global market during the forecast period. Furthermore, increase in adoption of green chemistry approaches to produce biodegradable polymers from renewable resources is expected to offer lucrative opportunities for the growth of the market. For instance, in June 2024, melanin from cuttlefish ink was discovered as a potent source for eco-friendly materials by Japanese researchers. According to the findings, melanin plays a vital role in the synthesis of biopolymers, and is expected to become a valuable biomass resource in the coming years.
The global biodegradable polymers market is segmented into polymer type, application, and region. On the basis of polymer type, the market is divided into polylactic acid, polyhydroxyalkanoates, starch blends, polybutylene succinate, and polyhydroxyurethanes. By application, it is segregated into packaging, agriculture, medical, consumer goods, textile, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By application, the packaging segment is expected to lead throughout the forecast period.
Region wise, biodegradable polymers are expected to gain high prominence in Europe in the coming years.
Biodegradable polymers are a class of polymers that not only decompose faster when discarded but can also be easily recycled. One of the key benefits of using biodegradable polymers to produce plastic bags is the significant reduction of carbon emissions during the production process, thereby mitigating greenhouse gas emissions. They find their major application in the medical and pharmaceutical sectors. For instance, biodegradable polymers are widely used in surgical sutures and implants. In addition, they have been used as carriers in drug delivery systems. Furthermore, the use of biodegradable biopolymers to manufacture containers and packaging in the food industry is one of the major applications.
The growth of the global biodegradable polymers market is majorly driven by alarming increase in environmental concerns and rise in government initiatives to reduce conventional plastic waste. For instance, with effect from September 30, 2021, the Government of India enforced manufacturers to increase the thickness of plastic carry bags from 50 microns to 75 microns and to 120 microns with effect from the December 31, 2022. This initiative enabled the reuse of plastic due to increase in thickness. In addition, rise in consumer preference toward eco-friendly products is driving the demand for biodegradable polymers. However, high production cost of biodegradable polymers as compared to conventional plastic acts as a key deterrent factor of the global market. Moreover, the blend of traditional and bio-based plastics complicates waste management, as they make sorting and recycling processes more difficult and less efficient. Traditional plastics and bio-based plastics often require different recycling methods, and improper disposal can lead to contamination, reducing the quality of recycled materials and increasing processing costs. To overcome this concern, researchers from Lawrence Berkeley National Laboratory (Berkeley Lab) and the Joint BioEnergy Institute (JBEI) partnered with X - the moonshot incubator under Alphabet, Google's parent company, in November 2023. The aim is not just to bypass the challenging separation process but also to enhance the final product's environmental impact. Such developments are expected to open new avenues for the expansion of the global market during the forecast period. Furthermore, increase in adoption of green chemistry approaches to produce biodegradable polymers from renewable resources is expected to offer lucrative opportunities for the growth of the market. For instance, in June 2024, melanin from cuttlefish ink was discovered as a potent source for eco-friendly materials by Japanese researchers. According to the findings, melanin plays a vital role in the synthesis of biopolymers, and is expected to become a valuable biomass resource in the coming years.
The global biodegradable polymers market is segmented into polymer type, application, and region. On the basis of polymer type, the market is divided into polylactic acid, polyhydroxyalkanoates, starch blends, polybutylene succinate, and polyhydroxyurethanes. By application, it is segregated into packaging, agriculture, medical, consumer goods, textile, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
On the basis of polymer type, the polylactic acid segment is expected to dominate the market by 2033.By application, the packaging segment is expected to lead throughout the forecast period.
Region wise, biodegradable polymers are expected to gain high prominence in Europe in the coming years.
Competition Analysis
Competitive analysis and profiles of the major players in the global biodegradable polymers market include BASF SE, NatureWorks LLC, Novamont S.p.A., TotalEnergies Corbion, Mitsubishi Chemical Group Corporation, Natur-Tec, Polysciences Inc, Danimer Scientific, FKuR, and Evonik Industries AG. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.Additional benefits you will get with this purchase are:
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Key Market Segments
By Material Type
- Polylactic Acid
- Polyhydroxyalkanoates
- Starch Blends
- Polybutylene Succinate
- Polyhydroxyurethanes
By Application
- Packaging
- Agriculture
- Medical
- Consumer Goods
- Textile
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- Rest of LAMEA
Key Market Players
- BASF SE
- NatureWorks LLC
- Novamont S.p.A.
- TotalEnergies Corbion
- "Mitsubishi Chemical Group Corporation. "
- Natur-Tec
- Polysciences Inc
- Danimer Scientific
- FKuR
- Evonik Industries AG
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET LANDSCAPE
CHAPTER 4: BIODEGRADABLE POLYMERS MARKET, BY MATERIAL TYPE
CHAPTER 5: BIODEGRADABLE POLYMERS MARKET, BY APPLICATION
CHAPTER 6: BIODEGRADABLE POLYMERS MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Companies Mentioned
- BASF SE
- NatureWorks LLC
- Novamont S.p.A.
- TotalEnergies Corbion
- Natur-Tec
- Polysciences Inc
- Danimer Scientific
- FKuR
- Evonik Industries AG
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 300 |
| Published | July 2024 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value ( USD | $ 7.9 billion |
| Forecasted Market Value ( USD | $ 55.2 billion |
| Compound Annual Growth Rate | 21.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 4 |
