According to a new market report published by Transparency Market Research "Synthetic and Bio-Based Biodegradable Plastics - Global Industry Analysis, Market Size, Applications, Share, Growth and Forecast, 2011 - 2018", global synthetic and bio-based biodegradable plastics market was worth USD 2.3 billion in 2011 and is expected to reach USD 7.8 billion in 2018, growing at a CAGR of 19.5% from 2011 to 2018. In the overall global market,Europe is expected to maintain its lead position in terms of revenue till 2018.
Europe is expected to enjoy 36.8% of global synthetic and bio-based biodegradable plastics market revenue share in 2018 followed by North America.
The global synthetic and bio-based biodegradable plastics market is driven by growing demand for eco-friendly materials in mainly packaging industry, cheap feedstock supply and its acceptance by the consumers. Globally, biodegradable plastics find its major use in packaging, agriculture and transportation industries.
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Biodegradable plastics market is classified under two markets, synthetic (petroleum derived) biodegradable plastics and renewable (bio-based) biodegradable market. Most of the countries are shifting towards bio-based biodegradable plastics owing to its eco-friendly nature. Although, synthetic biodegradable plastics market is also growing at a steady pace, it still lags behind bio-based alternatives and thus experiencing a slightly decreasing market share.
Over the last decade demand of bio-based biodegradable plastics has increased considerably due to growing demand for eco-friendly materials. Bio-based biodegradable plastics market is segmented on the basis of its types as starch based plastics, polylactic acid (PLA) and polyhydroxyalkanoates (PHA). The market for renewable biodegradable plastics was 1.9 billion in 2011 and it is expected to reach USD 7.0 billion in 2018.
The major geographic markets for biodegradable plastics are Europe, North America and Asia Pacific. Europe enjoys the largest market share of the worldwide synthetic & bio-based biodegradable plastics market in 2012 and is expected to lead till 2018. Asia Pacific market is expected to grow at a CAGR of 25.7% from 2011 to 2018.
This research is specially designed to estimate and analyze the demand and performance of synthetic & bio-based biodegradable plastic products in global scenario. This research provides in-depth analysis of synthetic & bio-based biodegradable plastic product manufacturers, trend analysis by segments and demand by geography. The report covers all the major segments of the global synthetic & bio-based biodegradable plastics market and provides in-depth analysis, historical data and statistically refined forecast for the segments covered. The study presents a comprehensive assessment of the stakeholder strategies and winning imperatives for them by segmenting the global synthetic & bio-based biodegradable plastics market as below:
- Synthetic Biodegradable Plastics by Types:
- Polycaprolactone (PCL)
- Polybutylene Succinate (PBS)
- Bio-Based Biodegradable Plastics by Types:
- Starch based plastics
- Poly Lactic acid (PLA)
- Polyhydroxyalkanoates (PHA)
- Synthetic & Bio-Bases Biodegradable Plastics by Applications:
- Packaging (Rigid, Loose fill, Compost Bags etc.)
- Transportation
- Agriculture
- Electronics
- Textiles
- Others
In addition the report provides a cross-sectional analysis of all the above segments with respect to following geographical markets:
- North America
- Europe
- Asia-Pacific
- Rest of the World (RoW)
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