Biodegradable Plastics Market to reach US$17.66 bn by the end of 2023 | Page 2

Biodegradable Plastics Market

REPORT DESCRIPTION

Biodegradable
Plastics
(Polylactic
Acid
(PLA),
Polyhydroxyalkanoates (PHA), Polybutylene Succinate (PBS),
Polycaprolactone (PCL), Starch-based, and Regenerated
Cellulose) Market for Packaging, Textile, Agriculture, Injection
Molding, and Other Applications - Global Industry Analysis,
Size, Share, Growth, Trends and Forecast 2015 - 2023
A larger of companies in the global market for biodegradable plastics are concentrated in North
America and Europe. In 2014, BASF SE, Corbion, and NatureWorks LLC had collectively accrued a
share of approximately 33% of the total market volume. As per a research report recently published
by Transparency Market Research, a collective segment of electronics, medical, and others are
expected to take up focus from key biodegradable plastics manufacturers around the world.
The degree of competition is expected to remain moderate over the coming years due to the high
price sensitivity of raw materials and production process, along with the diverse pricing strategies
adopted by prominent players.The global market for biodegradable plastics is expected to expand at
a very optimistic CAGR of 9.9% within a forecast period from 2015 to 2023, in terms of revenue. This
revenue is projected to reach US$9.10 bn by the end of 2016 and US$17.66 bn by the end of 2023.

View Exclusive Global Strategic Business Report:
http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=9158
Starch-based biodegradable plastics are expected to overtake polylactic acid-based biodegradable
plastics, which is currently the dominant product segment in the global market. By the end of 2023,
starch-based biodegradable plastics as a product segment is expected to reach US$6.36 bn, owing to
a growing use in the industries of medical, textiles, and packaging.
A massive proportion of biodegradable plastics is taken up in packaging processes globally. By the
end of 2023, and estimated US$10.59 bn is expected to be generated from the application of
biodegradable plastics in packaging.
Europe Continues to Lead Consumption of Biodegradable Plastics

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Transparency Market Research