Bio-degradable Polymers Market Size (2024 - 2029)

The bio-degradable polymers market is experiencing significant growth, driven by favorable government policies and increased usage in flexible packaging. Despite challenges such as higher costs compared to petroleum-based alternatives, the market is expanding due to the material's advantages, including reduced toxicity and improved patient compliance. The temporary disruptions in production during 2020 had a notable impact on demand and supply, affecting global economic growth. However, niche applications in industries like shale gas, hygiene products, and fishing gear present future opportunities for market expansion.

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Market Size of Bio-degradable Polymers Industry

Bio-Degradable Polymers Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR (2024 - 2029) 21.10 %
Fastest Growing Market Asia Pacific
Largest Market Europe
Market Concentration Medium

Major Players

Bio-degradable Polymers Market Major Players

*Disclaimer: Major Players sorted in no particular order

Bio-degradable Polymers Market Analysis

The Bio-degradable Polymers Market size is estimated at 0.71 Million tons in 2024, and is expected to reach 1.85 Million tons by 2029, growing at a CAGR of 21.10% during the forecast period (2024-2029).

Bio-degradable polymers are advantageous over non-bio-degradable polymers as they are less toxic, have lesser side effects, help to improve patient compliance, and maintains the stabilization of the drug. Therefore, temporary halt in the global production of industrial and consumer goods had repercussion not only on the demand, but also production of bio-degradable polymers. Such market scenario being witnessed in 2020 is indicated to trim the global economic growth by 3% to 6% during the year.

  • A major factor driving the market studied is the favorable government policies which promote bio-plastics. Additionally, tremendous usage in flexible packaging is likely to favor the market growth.
  • On the flipside, the higher price of bio-degradable polymers compared to petroleum-based polymers is expected to hinder the market growth.
  • Bio-degradable plastics are increasingly finding usage in niche applications, such as in shale gas industry (where they are used during hydro-fracking), hygiene products, and in fishing gears, among other applications, these are projected to act as an opportunity for the market in future.

Bio-degradable Polymers Industry Segmentation

Bio-degradable polymers are produced both naturally and synthetically, mostly consisting of different functional groups such as ester, amide, and other functional groups. These polymers are also increasingly used for various applications due to less or no carbon footprint.

The bio-degradable polymers market is segmented by product type, end-user industry, and geography. By product type, the market is segmented into starch-based plastics, polylactic acid, polyhydroxyalkanoates, and cellulose derivatives. By end-user industry, the market is segmented into agriculture, textile, consumer goods, packaging, healthcare, and other end-user industries. The report also covers the market size and forecasts for the bio-degradable polymers market in 15 countries across major regions.

For each segment, the market sizing and prediction have been made based on volume (tons).

Type
Starch-based Plastics
Polylactic Acid (PLA)
Polyhydroxy Alkanoates (PHA)
Polyesters (PBS, PBAT, and PCL)
Cellulose Derivatives
End-User Industry
Agriculture
Textile
Consumer Goods (Consumer Electronics)
Packaging
Healthcare
Other End-User Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
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Bio-degradable Polymers Market Size Summary

The biodegradable polymers market is poised for significant growth, driven by increasing demand for eco-friendly alternatives to traditional plastics. These polymers offer advantages such as reduced toxicity and improved patient compliance, making them suitable for various applications, including flexible and rigid packaging. The market is experiencing a shift due to favorable government policies promoting bioplastics and their extensive use in flexible packaging. However, the higher cost of biodegradable polymers compared to petroleum-based options presents a challenge to market expansion. Despite this, niche applications in industries like shale gas, hygiene products, and fishing gear present opportunities for future growth. The packaging industry, particularly in regions like Europe, North America, and developing areas such as Asia-Pacific, South America, and the Middle East, is expected to be a major driver of market demand.

In Asia-Pacific, China stands out as a significant player in the biodegradable polymers market, with its large-scale production and export capabilities. The country's focus on using renewable resources like corn and sugar to develop biodegradable plastics aligns with global trends towards sustainable packaging solutions. The Chinese market for flexible packaging is growing rapidly, fueled by economic development, urbanization, and a shift towards eco-friendly consumer products. Additionally, advancements in agricultural practices, such as the use of biodegradable plastic film mulching, contribute to the market's expansion. The global market is partly consolidated, with key players like NatureWorks LLC, Novamont S.p.A, BASF SE, Total Corbion PLA, and Eastman Chemical Company leading the way in innovation and production. Recent developments, such as NatureWorks' introduction of Ingeo 6500D for nonwoven applications, highlight the ongoing efforts to expand the use of sustainable materials across various sectors.

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Bio-degradable Polymers Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Favorable Government Policies Promoting Bio-plastics

      2. 1.1.2 Increasing Usage in Flexible Packaging

      3. 1.1.3 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Higher Price Compared to Petroleum-based polymers

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value-Chain Analysis

    4. 1.4 Porters Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 Type

      1. 2.1.1 Starch-based Plastics

      2. 2.1.2 Polylactic Acid (PLA)

      3. 2.1.3 Polyhydroxy Alkanoates (PHA)

      4. 2.1.4 Polyesters (PBS, PBAT, and PCL)

      5. 2.1.5 Cellulose Derivatives

    2. 2.2 End-User Industry

      1. 2.2.1 Agriculture

      2. 2.2.2 Textile

      3. 2.2.3 Consumer Goods (Consumer Electronics)

      4. 2.2.4 Packaging

      5. 2.2.5 Healthcare

      6. 2.2.6 Other End-User Industries

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle East & Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle East & Africa

Bio-degradable Polymers Market Size FAQs

The Bio-degradable Polymers Market size is expected to reach 0.71 million tons in 2024 and grow at a CAGR of 21.10% to reach 1.85 million tons by 2029.

In 2024, the Bio-degradable Polymers Market size is expected to reach 0.71 million tons.

Bio-degradable Polymers Market Report Snapshots

Bio-degradable Polymers Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)