Biodegradable Plastics Market worth $23.3 billion by 2026

The global biodegradable plastics market size is projected to reach USD 23.3 billion by 2026 growing at a CAGR of 24.9% from 2021 to 2026. The increasing demand for biodegradable plastics in various end-use segments coupled with stringent regulatory and sustainability mandates concerning healthcare safety is driving the market for biodegradable plastics.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=93

The increase in demand for biodegradable plastics and the growing industrial development in the emerging economies, such as APAC and South America, are driving the market. The key players in this market are BASF (Germany), NatureWorks (US), Total Corbion (Netherlands), Novamont (Italy), Biome Bioplastics (UK), Mitsubishi Chemical Holding Corporation (Japan), Toray Industries (Japan), Plantic Technologies (Australia), Danimer Scientific (US), and Fkur Kunstsoff (Germany). These players have adopted various strategies such as investment & expansion, merger & acquisition, partnership & agreement, and new product launch in order to strengthen their market position.

For instance, in April 2021, NatureWorks announced a new strategic partnership with IMA Coffee, which is a market leader in coffee handling processing and packaging. This partnership aims at increasing the market reach for high-performing compostable K-cup in North America.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=93

BASF is one of the leading market players. The functional materials & solutions segment produces biodegradable plastics for various applications such as automotive manufacturing, packaging, sports & leisure, medical technology, construction, solar thermal energy, and photovoltaics. The company produces a fully synthetic biodegradable polyester. In addition, the company currently produces Ecoflex (PBAT), which is a synthetic biodegradable polyester. The company blends PLA with Ecoflex to produce Ecovio. It has adopted joint ventures as a key strategy to retain its competitiveness in the global market.

Novamont is one of the key players in the biodegradable plastics market. The company provides blends of starch, PCL, and others, including polyesters and oils. It has a dominant patent portfolio and produces PBS, PBSA, and PCL. Also, the company has additional offices and networks in Germany, France, Benelux, Scandinavia, Denmark, the UK, the US, China, Japan, Australia, and New Zealand.  

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=93

About MarketsandMarkets

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
sales@marketsandmarkets.com