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March 16, 2023March 16, 2023 vijay25

Biodegradable Polymers Market 2023 Investigation and Forecast 2028

Newest Research on “Biodegradable Polymers Market” – Forecast by Top Regions 2023-2028
Biodegradable polymers are the degradable inorganic molecules. They can be either natural or synthetic and can be made of either ester, amide or ether. They find use in many industries such as pharmaceuticals, agriculture, packaging etc.
Report Overview
Due to the COVID-19 pandemic and Russia-Ukraine War Influence, the global market for Biodegradable Polymers estimated at USD 1401.9 million in the year 2022, is projected to reach a revised size of USD 2073.4 million by 2028, growing at a CAGR of 6.7% during the forecast period 2022-2028.
One of the key factors driving the growth of this market is the rise in enhanced consumer appeal to eco-friendly packaging. As consumer focus is changing towards healthier living, the demand for a natural, sustainable, and green product is also increasing. This shift in consumer behavior has compelled the major plastics manufacturers and packaging vendors to explore the possibilities of biodegradable polymers. Moreover, the need to conform with government regulations is forcing vendors to focus on manufacturing biodegradable polymers and promote the products that have sustainable components in the export market. It has also been observed that consumers prefer sustainable options for plastic bags and food packaging. The leaders in the global biodegradable polymers market are North America and Asia Pacific that includes China and Japan. Owing to consumer awareness regarding the use of renewable polymers, Europe has emerged as the leading market for biodegradable polymers. North America is expected to grow considerably during the forecast period, due to the consumer shift and rising crude oil prices. The report mentions that during the forecast horizon, Asia Pacific is estimated to witness rapid growth, with countries such as China and Japan evolving as major markets for biodegradable polymers.
Major Product Types of Biodegradable Polymers covered are:

Synthetic Biodegradable Polymers
Natural Biodegradable Polymers

Major Applications of Biodegradable Polymers covered are:

Pharmaceutical
Agricultural
Biomedical
Packaging
Others

key players operating in the Biodegradable Polymers market

Arkema
BASF
NatureWorks
Novamont
Plantic

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