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Biodegradable Plastics Market Worth $6.12 Billion by 2023 - Exclusive Report by MarketsandMarkets™

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MarketsandMarkets

17 Oct, 2018, 10:30 GMT

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CHICAGO, October 17, 2018 /PRNewswire/ --

According to the new market research report "Biodegradable Plastics Market by Type (PLA, Starch Blends, Biodegradable Polyesters, PHA), End Use Industry (Packaging & Bags, Consumer Goods, Agriculture & Horticulture), and Region (APAC, Europe, North America, Rest of the World) - Global Forecast to 2023", published by MarketsandMarkets™, the Biodegradable Plastics Market is projected to grow from USD 3.02 billion in 2018 to USD 6.12 billion by 2023, at a CAGR of 15.1%. The growth of the market is attributed to the increasing demand for biodegradable plastics in various end-use industries in emerging economies such as India, China, and Brazil. The increasing adoption of strategies such as new product launches and mergers, acquisitions & partnerships by the key players is also fueling the market.

     (Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg )

Don't miss out on business opportunities in Biodegradable Plastics Market.

Speak to Our Analyst and gain crucial industry insights that will help your business grow.
https://www.marketsandmarkets.com/speaktoanalyst.asp?id=93

Browse in-depth TOC on "Biodegradable Plastics Market"

66 - Tables
33 - Figures
112 - Pages

View detailed Table of Content here: https://www.marketsandmarkets.com/Market-Reports/biodegradable-plastics-93.html

Packaging & Bag: The largest end-use industry of biodegradable plastics 

Packaging & bags is the largest end-use industry of biodegradable plastics. Thermoset plastics (soy polyurethanes and unsaturated polyester resins) and thermoplastics (PLA, starch blends, PBS, PHA, and cellulose) are the two types of biodegradable plastics mainly used in the packaging industry. Packaging products made from these plastics are mainly used in the packaging of fresh food, dried snacks & candy, bakery goods, water & juice bottles, and meat trays. Biodegradable plastics are also used as coatings for beverages cups and films & card stock.

Request for Free Sample Report @ https://www.marketsandmarkets.com/requestsample.asp?id=93

PLA: The largest type segment of the Biodegradable Plastics Market 

PLA is the largest type segment of the Biodegradable Plastics Market, as it is used in various end-use industries such as packaging & bags and consumer goods. PLA is made from renewable resources, and it is compostable as well as biodegradable. It is derived from corn starch (in the US and Canada), tapioca roots, chips, or starch (mostly in Asia), or sugarcane (in RoW). This makes PLA non-toxic and an environmentally friendly material. Plastic products may take up to thousand years to degrade while PLA products biodegrade within 3-6 months in an industrial composting system. The key applications of PLA are thermoformed products, namely, drink cups, takeaway food trays, containers, and planter boxes. It has good rigidity and allows for replacement of polystyrene and PET in such applications. PLA is being adopted rapidly as it is more economical to manufacture PLA as compared with the synthesis of other biodegradable plastics.

APAC: The fastest-growing Biodegradable Plastics Market 

APAC is expected to be the fastest-growing Biodegradable Plastics Market during the forecast period. The growing packaging & bags industry in APAC has offered significant opportunities for the growth of the Biodegradable Plastics Market in the region. The increasing use of biodegradable plastics in various end-use industries, such as packaging & bags, consumer goods, agriculture & horticulture, and textile, is driving the Biodegradable Plastics Market in APAC.

Major players such as NatureWorks (US), BASF (Germany), Total Corbion PLA (Netherlands), Mitsubishi Chemical Corporation (Japan), and Biome Bioplastics (UK) have adopted development strategies such as expansions, mergers, acquisitions & partnerships, and new product launches to achieve growth in the Biodegradable Plastics Market.

Browse Adjacent Markets @ Green Bio Chemicals Market Research Reports & Consulting

About MarketsandMarkets™  

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com


Research Insight: https://www.marketsandmarkets.com/ResearchInsight/biodegradable-plastics-market.asp

Visit Our Website: https://www.marketsandmarkets.com

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