An estimated $ 23.3 billion in biodegradable plastic market by 2026 – Special Report by MarketsandMarkets ™

Chicago, September 10, 2021 According to a new market research report »Perishable Plastic Market By type (PLA, Starch Blends, PHA, Biodegradable Polyesters), End Use Industry (packaging, consumer goods, textile, agriculture and horticulture), and region (APAC, Europe, North America & RoW) – Global forecast until 2026Published by MarketsandMarkets, Global Biotech Plant Market Size from $ 7.7 billion A.D. 2021 $ 23.3 billion At a CAGR of 24.9% between 2026, 2021 and 2026.

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Biodegradable plastics are called biodegradable (degradation is caused by the action of micro-organisms such as bacteria, fungi and algae). The biodegradable plastic market includes both biodegradable biodegradable plastics and synthetic / petrochemical-based biodegradable plastics. The market is growing rapidly around the world due to increased awareness of the use of non-biodegradable plastics and strict government regulations. Biodegradable plastics are used in packaging, consumer goods, textiles and other end-use industries in agriculture and horticulture.

The PLA type captures the core market value based on its value

PLA is the largest segment of the biodegradable plastic market, with a wide range of uses in various finishing industries such as packaging and bags and consumer goods. PLA is made from renewable resources, and is perishable and also perishable. He is a corn starch (in the United States and Kannada), Tapiyo roots, chips or starch (usually Asia), Or sugar cane (by RoW). This makes PLA a non-toxic and environmentally friendly material. The key applications of PLA are heat-based products, such as drinking cups, serving trays, containers and plant boxes. Good rigidity and allows to replace polystyrene and PET in such applications. PLA is gaining momentum because it is more economical to produce compared to other biodegradable plastics.

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In terms of value, the packaging segment is expected to play a major role in the biodegradable plastic market during the forecast period.

Packaging Biodegradable Plastic is one of the end-to-end industries dominating the market. Biodegradable plastics are increasingly being replaced by conventional plastics to solve environmental problems. Thermoset plastics (soy polyurethane and incomplete polyester resins) and thermoplastics (PLA, starch compounds, PBS, PAA and cellulose) are two main types of biodegradable plastics used in the packaging industry. The use of biodegradable plastics is on the rise in applications such as bottles, films, clamp cartons, garbage bags, carrying bags, melt films and food items.

Europe Between 2021 and 2026, it is projected to be the fastest growing market for biodegradable plastics.

Europe Between 2021 and 2026, it is expected to be the fastest growing market for biodegradable plastics. Political and economic conditions have pushed biodegradable plastics into the market. Strict government standards and economic conditions have also led to the destruction of the perishable plastic market. These factors have led to the development of biodegradable plastics in the region through collaborative research.

The key players in this market are BASF (Germany), NatureWorks (USA), Total Corporate (Netherlands), Novamont (c.Italy), Biome Bioplastics (UK), Mitsubishi Chemical Content Corporation (Japan), Toray IndustriesJapan), Plant technologies (Australia), Danimer Scientific (USA), and Fikur Kunsoff (ed.Germany).

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