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Biodegradable Plastic Global Market and Trend

Date : 2022-12-07 Reading : 417

Biodegradable plastics are a class of plastics that are caused to degrade by the action of naturally occurring microorganisms such as bacteria, molds (fungi) and algae. The ideal biodegradable plastic is a polymer material with excellent use properties, which can be completely decomposed by environmental microorganisms after disposal and eventually be inorganized to become a component of the carbon cycle in nature. PLA and PBAT are the most important biodegradable materials. PLA accounts for 25% of the global production capacity of the biodegradable plastic and PBAT accounts for 18% market share.

 

The global biodegradable plastics market size was USD 1.05 billion in 2017, growing to USD 1.64 billion in 2022, with a CAGR of 9.3% from 2017 to 2022. The global biodegradable plastics market size is expected to be USD 2.75 billion in 2027, with a CAGR of 10.9% from 2022 to 2027.

 

Figure 2017-2027 Global Biodegradable Plastic Market Size (Billion USD) and CAGR
Europe is the major consumer market for biodegradable plastics globally with 50% share, followed by Asia Pacific and North America with 26% and 23% share respectively.
Biodegradable plastics are mainly used in food (51%), composting bags (21%), foam packaging bags (11%), agriculture and horticulture (10%), and cardboard coatings (5%).

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Biodegradable Plastic Global Market and Trend 

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