Reports and Data has recently published a novel report on global Synthetic and Bio-Based Biodegradable Plastics Market achieved a size of USD 5.9 billion in 2022. It is projected to expand to USD 8.3 billion by 2032, with a remarkable compound annual growth rate (CAGR) of 15.6% over the forecast period.

The escalating awareness among consumers regarding the adverse environmental impacts of traditional plastics is a significant driver behind the growing demand for sustainable packaging materials. This surge in demand is propelled by the imperative need for eco-friendly packaging solutions in response to stringent government regulations aimed at reducing plastic waste and promoting the adoption of biodegradable materials.

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Major Companies:

  • BASF SE
  • Dow Chemical Company
  • NatureWorks LLC
  • Mitsubishi Chemical Corporation
  • Cereplast Inc.
  • Biome Technologies PLC
  • Evonik Industries AG
  • Tianan Biologic Materials Co., Ltd.
  • Plantic Technologies Limited
  • Cardia Bioplastics Limited

Strategic Development:

  • In 2020, BASF SE announced the launch of a new line of bio-based biodegradable plastics called Ecovio EA. These plastics are made from renewable resources such as corn starch and can decompose naturally without harming the environment. The launch was aimed at expanding BASF's product offerings in the biodegradable plastics market.
  • In 2020, NatureWorks LLC announced the launch of a new line of bio-based biodegradable plastics called Ingeo Biopolymer. These plastics are made from renewable resources such as corn and can decompose naturally without harming the environment. The launch was aimed at expanding NatureWorks' product offerings in the biodegradable plastics market.
  • In 2020, Mitsubishi Chemical Corporation announced the launch of a new line of synthetic biodegradable plastics called DURABIO. These plastics are made from renewable resources such as plant-derived isosorbide and can decompose naturally without harming the environment. The launch was aimed at expanding Mitsubishi Chemical's product offerings in the biodegradable plastics market.

 Key questions addressed in the report:

  • What is the expected market size of the global Synthetic and Bio-Based Biodegradable Plastics market during the forecast period?
  • What CAGR is the global market expected to register during the forecast period?
  • Which key factors are expected to boost global market growth between 2021 and 2028?
  • What are the key restraints that are expected to hamper global market growth?
  • Which regional market is expected to register robust CAGR during the forecast period?
  • Which key players are operating the global Synthetic and Bio-Based Biodegradable Plastics market?

Synthetic and Bio-Based Biodegradable Plastics Market Segmentation:

By Type Outlook: 

  • Polyesters
  • Polyhydroxyalkanoates
  • Polylactic Acid
  • Others

By Application Outlook: 

  • Packaging
  • Agriculture
  • Consumer Goods
  • Others

 Key Regional Markets Covered in the Report:

  • North America (U.S.A., Canada, Mexico)
  • Europe (Italy, U.K., Germany, France, Rest of Europe)
  • Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
  • Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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