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Europe Biodegradable Plastics Market Research Report - Segmentation By Type, Application & Region | Industry Analysis on Size, Share, Trends, Growth & Forecast Report | (2023-2028)

Published: March, 2023
ID: 7678
Pages: 130
Formats: report pdf report excel report power bi report ppt

Europe Biodegradable Plastics Market Size (2023-2028):

The Europe Biodegradable Plastics Market is required to ascend at a CAGR of 10.65% over the anticipated period 2023-2028

Europe holds a prominent portion of the worldwide biodegradable plastics market. Severe natural guidelines forced by the legislature forbid the work of oil-based plastics and the developing mindfulness concerning the earth among the populace is significantly driving the market in the locale. Additionally, in Italy, the utilization of plastic sacks has been denied, and in nations like Germany and Ireland, the charge is collected for the use of oil-based plastic packs.

Market Drivers and Restraints:

Clean-up endeavours taken up by European governments are one of the key drivers for the development of Europe's biodegradable plastic market. The strong government strategies for biodegradable plastics worldwide have additionally impelled the utilization of these plastics.

Bans on customary plastics in a few nations, innovative and administrative help, and business conditions are a couple of the components that further lift the market growth. For case, in March 2019, the European parliament cast a ballot to boycott single-utilize plastic straws, stirrers, plastic cutlery, and cotton buds as a piece of clearing law against plastic waste that inevitably dirties the seas and plunders sea shores.

EUROPE BIODEGRADABLE PLASTICS MARKET REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2022 – 2028

Base Year

2022

Forecast Period

2023 - 2028

CAGR

10.65%

Segments Covered

By Type,  Application, and Region.

 

Various Analyses Covered

Global, Regional and Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

Market Leaders Profiled

API SpA, BASF S.E, FKuR Kunststoff GmbH, Biome Bioplastics, Novamont S.p.A, Kingfa Sci, Tech. Co., Ltd, NatureWorks LLC, Mitsubishi Chemical Corporation, Plantic Technologies Limited, Total Corbion PLA, and Others.

 

Market Segmentation:

Europe Biodegradable Plastics Market - By Type:

  • Polylactic Acid (PLA)
  • Polybutylene Adipate Terephthalate (PBAT)
  • Polybutylene Succinate (PBS)
  • Polyhydroxyalkanoates (PHA)
  • Starch blends
  • Others

Starch blends accounted for a prominent section of the European market due to the increasing adoption in various packaging and agriculture activities. The packing sector has witnessed rapid developments in recent years with the increasing usage of starch blends. In addition, the polylactic acid segment is determined to expand with considerable growth in the local market in the following years.

Europe Biodegradable Plastics Market - By Application:

  • Packaging
  • Agriculture
  • Textile
  • Consumer durable
  • Others.

The packaging segment held the dominant portion in the local and international marketplace with increasing adoption in end-user industries like food & beverages and. The growing consumer preference for bio-based packaging materials is touted to accelerate the expansion of this market in the foreseen period. Besides, the agriculture sector is anticipated to develop with a noteworthy growth rate in the outlook period with the increasing government and private investments in increasing agricultural land across the world.

Europe Biodegradable Plastics Market - By Region:

  • Germany
  • France
  • Italy
  • UK
  • Russia
  • The rest of Europe

Germany accounted for a significant portion of the Europe biodegradable plastic market, which is trailed by Italy.

France is another prominent area in Europe that offers lucrative growth potential. Germany is viewed as one of the significant economies in Europe, where the utilization of bio-plastics has expanded at a fast rate. It is among the primary who has given confirmation identified with biodegradable plastics. The interest in biodegradable plastic is rising to advance condition maintainability. In addition, being an eco-accommodating substitute of ordinary plastic, they are progressively being requested by end-use ventures.

Impact of COVID-19 on Europe Biodegradable Plastic Market:

The suspended development of vehicles over the globe is relied upon to disturb the activities of various organizations, which is influencing the market development in the estimated time frame. Complete shutdown in the downstream tasks leads to high stock expense. Moreover, delays in up-and-coming ventures and speculation cuts will adversely affect the development.

The quick development of single-use plastics in the cover and gloves industry will additionally influence the market development for biodegradable plastics. Postponement in key endorsements, for example, delay in new plant resolution because of tourism warnings, money hazards, and quelled interest in rising nations may obstruct the development.

Market Key Players:

  1. API SpA
  2. BASF S.E
  3. FKuR Kunststoff GmbH
  4. Biome Bioplastics
  5. Novamont S.p.A
  6. Kingfa Sci
  7. Tech. Co., Ltd
  8. NatureWorks LLC
  9. Mitsubishi Chemical Corporation
  10. Plantic Technologies Limited
  11. Total Corbion PLA

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