Biodegradable Plastics Market Manufactures and Key Statistics Analysis 2015-2023
May 20, 2020
The demand within the global biodegradable plastics market is growing on account of advancements in green packaging. Plastic manufacturing has witnessed a downfall post the turn of the 21st century. Several countries and regions have banned the use of plastics in green zones, and this has placed a toll on plastic manufacturers. However, near irreplaceability of plastics across multiple industries such as packaging and retail has shifted the focus towards biodegradable plastics. This factor, coupled with the development of eco-friendly standards across the globe, has driven market demand.Transparency Market Research (TMR) finds that the global biodegradable plastic market shall expand at a whopping CAGR of 9.9% over the period between 2015 and 2023. Furthermore, the total revenues within the global biodegradable plastics market shall touch US$17.66 bn by 2023-end, rising up from a value of US$9.10 bn in 2016. Growing inclination of industrial and residentials units towards the use of biodegradable plastic shall aid market growth.Biodegradable plastic can be disposed through the process of composting. Several cases of improper composting have landed biodegradable plastics in landfills. This factor has led energy scientists to develop errorless methods for composting and plastic recycling. Hence, the global biodegradable plastics market is expected to grow with advancements in the domains of composting, calcination, and incineration.Several researchers assert that the use of biodegradable plastics is a pragmatic solution to inhibit plastic pollution. Furthermore, the need for smooth transition from plastic usage to biodegradable alternatives mandates the use of biodegradable plastics at this intermediate stage. However, researchers are on the lookout to find the right mix of methods for manufacturing and using biodegradable plastics. The revenue index of the global biodegradable plastics market is expected to improve in the years to follow.Request a PDF Brochure @ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=9158Industries of National Significance as Key Users of Biodegradable PlasticsThe demand within the global biodegradable plastics market is slated to reach new heights in the years to follow. Industries of national importance have become sound consumers of biodegradable plastics. The agriculture sector has emerged as a prominent user of biodegradable plastics in recent times. Moreover, biodegradable plastics are also used in large volumes across the textile industry. The aforementioned factors are a key consideration for vendors operating in the global market. The leading vendors are likely to expand their reigns to new and unexplored territories and industries.Some of the leading players in the global biodegradable plastics market are Mitsubishi Chemical Corporation, BASF SE, NatureWorks LLC, and Biome Bioplastics.Request a COVID-19 Impact Analysis @ https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=9158Explore Transparency Market Research’s award-winning coverage of the global Chemicals and Materials Industry.