Industry Background:
Biodegradable polymers are also known as biocomposites. These are the polymers degraded by the microorganisms with a definite period of time so that they do not cause any serious problems for the environment. The decomposition reactions involve enzymatic hydrolysis and oxidation. Biodegradable polymers are used in packaging, agriculture, medicine, and other applications. The rising demand in the packaging of food and beverage industries leads to the growth in biodegradable polymers.This growth is primarily driven by The Rising Demand in Eco-Friendly Packaging Industries Leads to the Growth in Biodegradable Polymers and The Rising Demand for Biodegradable Polymers in Preparation of Cosmetics.
Globally, a noticeable market trend is evident The Awareness of Using Biodegradable Polymers for Environmental Safety Is Rising. Major Vendors, such as BASF SE (Germany), Novamont S.P.A. (Italy), Mitsubishi Chemical Corporation (Japan), Natureworks Llc (United States), Arkema S.A. (France), Danimer Scientific (United States), Plantic Technologies Limited (United Kingdom), Merck Group Pharmaceutical Company (Germany), Cardia Bioplastics (Australia), Corbion Chemicals Company (Netherland), Braskem Petrochemical Company (Brazil), LG Chem Ltd. (South Korea), Avantium Company (Netherland) and Carbios Company (France) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 16th August 2021, Danimer Scientific, Inc. a leading next-generation bioplastics company focused on the development and production of biodegradable materials, announced its financial results. and On 20th October 2020, LG Chem launches biodegradable material to rival PP. South Korea’s LG Chem has developed a biodegradable material that the company claims can – for the first time – deliver mechanical properties equivalent to synthetic resins such as polypropylene (PP). The biodegradable material features 100 percent bio content using corn-based glucose and crude glycerol, and LG Chem claims that it has improved flexibility (elongation).
Regulatory Insights:
"This specification is intended to establish the requirements for the labeling of plastic products and materials, including packaging made from plastics, as “compostable” or “compostable in municipal and industrial composting, facilities” or “biodegradable during composting” (for the purposes of this International Standard, these three expressions are considered to be equivalent). The labeling will, in addition, have to conform to any international, and regional, national, or local regulations."
Market Drivers
- The Rising Demand in Eco-Friendly Packaging Industries Leads to the Growth in Biodegradable Polymers
- The Rising Demand for Biodegradable Polymers in Preparation of Cosmetics
Market Trend
- The Awareness of Using Biodegradable Polymers for Environmental Safety Is Rising
Restraints
- Manufacturing Costs Are High
Opportunities
The Use of Biodegradable Polymers in Food and Beverage Industry Is Increasing
Challenges
Biodegradable Polymers May Produce Methane While Degrading That is 80 Times More Harmful than Carbon Dioxide
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Biodegradable Polymers Study Sheds Light on
The Biodegradable Polymers Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Biodegradable Polymers industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Biodegradable Polymers industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.