Biodegradable polymers Market Size was valued at USD 3,501.36 million in 2023. The Biodegradable polymers industry is projected to grow from USD 3,718.93 million in 2024 to USD 5,987.79 million by 2032, exhibiting a compound annual growth rate (CAGR) of 7.47% during the forecast period (2024 - 2032). The use of biodegradable polymers in various end-use industries, majorly in packaging, is projected to boost the demand for biodegradable polymers during the forecast period. The use of containers, films, and trays in the packaging industry is expected to drive the global biodegradable polymer market in the coming years. The favorable government policies supporting biodegradable polymers also bolster global market growth. Moreover, the growing demand for biodegradable polymers in the medical industry is accelerating the market growth.
However, the high cost and lack of quality standards of biodegradable polymers along with rising concerns regarding the disposal of biodegradable polymers are expected to hamper the global biodegradable polymer market.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Polymers have been utilized extensively for the past 50 years to make packaging materials due to their high performance and ease of production. Packaging plays a significant role in day-to-day life. Packaging serves many purposes, including protection, safety, improved usage, appealing looks, optimal design, and particular customer needs. The packaging exists only to serve a single purpose. It is either removed in order to begin using the product it contains, or it is discarded as soon as the package content runs out.
Packaging waste, particularly that made of non-biodegradable polymers, has become a significant part of municipal solid waste, raising environmental concerns. Discarded packaging is also a visible source of litter, creating a significant waste management concern. Polyethylene (PE) is the most extensively used petroleum-based polymer in packaging applications. PE and other petroleum-based polymers are exceedingly difficult to degrade after disposal on land or the shore, resulting in different amounts of contamination.
To tackle this problem, much attention has been made in recent years to develop biodegradable polymers such as biopolymers from renewable resources, which is also driven by global environmental awareness. Biopolymers are made from natural resources such as starch, cellulose, chitosan, and proteins derived from plants and animals. Because of their environmental friendliness, these natural polymers are appealing alternatives to non-biodegradable, petroleum-based, or synthetic plastic packaging materials. Cellulose and starch are two of the most prevalent biopolymers used in packaging materials such as films, containers, and others. These biodegradable biopolymers have grown in popularity due to their renewable, ecologically friendly, biodegradable, and biocompatible properties.
The Biodegradable polymers Market segmentation, based on type has been segmented as PLA, Starch Blends, PHA, Others. Among these, the Starch blends is projected to dominate the Biodegradable polymers Market revenue through the projected period.
Based on End-Use Industry, the Biodegradable polymers Market is segmented as Packaging, Consumer Goods, Textile, Agriculture & Horticulture, Others. Out of which the Packaging segment dominated base year market and is also projected to be holding a dominating share in the forecasted period as well.
Biodegradable polymers Regional Insights
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By Region, the study segments the Biodegradable polymers market into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. The Asia-Pacific market accounted for a comparatively significant revenue share in 2022. Biodegradable polymers are widely used in the packaging industry in applications such as food & beverage packaging, cosmetics packaging, and other product packaging. The packaging industry has dominated the biodegradable polymer market owing to their biodegradability and high strength. Apart from packaging, the biodegradable polymer is widely used in textile, consumer goods, agriculture & horticulture, and other sectors. In agriculture & horticulture, the biodegradable polymer has unique benefits. Biodegradable mulching films are making significant progress in these sectors: producing pure foods with minimal pesticide use and is a powerful sales argument in vegetable-growing or organic farming. Ploughing in mulching films after usage, rather than collecting them from the field, wiping off the soil, and returning them for recycling, is more feasible and improves the operation's profitability. Biodegradable mulching films are now extremely well-matched to the location and fruit.
In consumer goods, plastics are used in a large proportion of consumer electrical gadgets. Nowadays, casings, circuit boards, and data storage are made of plastic to keep appliances light and mobile while being tough and durable. There is an increase in demand for biodegradable polymers in consumer goods due to their biodegradability nature to decompose the product easily after use. Moreover, due to increasing awareness regarding the environmental benefits of biodegradable polymers, their use has increased in day-to-day life.
The Biodegradable polymers Market is characterized by the presence of many global, regional, and local vendors. The market is highly competitive with all the players competing to gain maximum market share. Rapid advancements in processes, manufacturing and the growing application of Biodegradable polymers in end-use industries are the key factors that affect global market growth. The vendors compete based on cost, product quality, availability, and reliability of the products. The vendors must provide cost-effective and high-quality Biodegradable polymers to compete in the market. The competitive scenario is fragmented between tier-1 and tier-2 companies.
The growth of market players is dependent on market conditions, government regulations, and industry development. Thus, the players should focus on expanding their production capacities to meet the demand and enhancing their services. BASF SE, Total Corbion, NatureWorks, Biome Bioplastics, Novamont S.p.A, Evonik Industries, Toray Industries, Inc., Cortec Corporation, Plantic Technologies, Arkema, among others are the major companies in the market that compete in terms of quality, price, and raw materials incorporated. These players are primarily focusing on the development of more sophisticated and advanced products. Although the international players are dominating the market, regional and local players with small market shares also have a moderate presence. The international players with presence across the globe, with established manufacturing units or sales offices, have strengthened their presence across major regions such as North America, Europe, and Asia-Pacific.
BASF SE: BASF aims to develop and offer sustainable solutions that are environmentally friendly and help reduce carbon emissions. The company is committed to reducing its own carbon footprint and helping its customers to do the same. BASF invests heavily in research and development to create innovative products and technologies that meet the changing needs of its customers. The company is focused on developing new solutions in areas such as renewable energy, energy storage, and electric mobility. BASF is constantly evaluating its portfolio of products and services to ensure that it is aligned with its strategic goals. The company is divesting non-core businesses and investing in areas where it sees growth potential.
Total Corbion: Total Corbion aspires to improve its position in innovation and technology, and the business hopes to support the development of industries that are geared toward the future. The company aims to strengthen its leadership position by offering biodegradable polymers. It focuses on securing a leading position by leveraging the full portfolio and expanding into adjacent areas. Furthermore, A reputation for innovation, operational excellence, and dedication to environmental and safety protection polymers has been established by the company. As a measure of the maturity of technology, the business has already secured multiple collaborations product launches with significant international industrial brands in various fields.
June2022: BASF has launched a new biopolymer named Verdessence for cosmetic and persona care applications. The product is made to attain smooth and powdery light skin feel made from non-GMO rice produced in European region.
April 2023: Corbion has collaborated with Danimer company for the supply of PLA category products for manufacture of compostable products. The collaboration is expected to expansion of production capacity of PLA products across the globe.
March 2023: Biome Bioplastics has been funded with £248,000 to complete the development phase and reach commercial production of its biodegradable tree shelter project. The Company aims at developing and testing of a new series of biodegradable tree shelters to be made from the Company’s novel bioplastics.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 3,501.36 million |
| Market Size 2024 | USD 3,718.93 million |
| Market Size 2032 | USD 5,987.79 million |
| Compound Annual Growth Rate (CAGR) | 7.47 % (2024-2032) |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2019 & 2021 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By on Feedstock, type, application, and region, and By Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, and South America |
| Countries Covered | US, Canada, Mexico, Germany, France, UK, Italy, Spain, China, Japan, India, South Korea, Saudi Arabia, UAE, South Africa, Brazil, Argentina |
| Key Companies Profiled | •           BASF SE•           Total Corbion•           NatureWorks•           Biome Bioplastics•           Novamont S.p.A•           Evonik Industries•           Toray Industries, Inc.•           Cortec Corporation•           Plantic Technologies•           Arkema |
| Key Market Opportunities | ·      Increasing demand for biodegradable polymers in the packaging industry·      Favourable government policies supporting biodegradable polymers |
| Key Market Dynamics | ·      Rapid growth in demand for biodegradable polymers in the medical sector |
Biodegradable Polymer Market Highlights:
Frequently Asked Questions (FAQ) :
USD 3,501.36 million in 2023
7.47%
Asia-Pacific
BASF SE, Total Corbion, NatureWorks, Biome Bioplastics, Novamont S.p.A, Evonik Industries, Toray Industries, Inc., Cortec Corporation, Plantic Technologies, and others.
Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
