Biodegradable Plastics Market worth $12.4 billion by 2027

The biodegradable plastics market is projected to reach USD 12.4 billion by 2027, at a CAGR of 15.1%.

The report "Biodegradable Plastics Market by Type (PLA, Starch Blends, Biodegradable Polyesters, PHA), End-use Industry (Packaging & Bags, Consumer Goods, Agriculture & Horticulture), and Region (APAC, Europe, North America, Row) - Global Forecast to 2027".

The growth of the market is attributed to the increasing demand for biodegradable plastics in various end-use industries in emerging economies such as India, China, and Brazil. The increasing adoption of strategies such as new product launches and mergers, acquisitions & partnerships by the key players is also fueling the market.

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On the basis of end-use industry, the packaging & bag segment is estimated to lead the biodegradable plastics market during the forecast period.
Packaging & bags is the largest end-use industry of biodegradable plastics. Thermoset plastics (soy polyurethanes and unsaturated polyester resins) and thermoplastics (PLA, starch blends, PBS, PHA, and cellulose) are the two types of biodegradable plastics mainly used in the packaging industry. Packaging products made from these plastics are mainly used in the packaging of fresh food, dried snacks & candy, bakery goods, water & juice bottles, and meat trays. Biodegradable plastics are also used as coatings for beverages cups and films & card stock.

Increasing use of PLA in the packaging & bags and consumer goods industry is projected to lead the biodegradable plastics market during the forecast period.
PLA is the largest type segment of the biodegradable plastics market, as it is used in various end-use industries such as packaging & bags and consumer goods. PLA is made from renewable resources, and it is compostable as well as biodegradable. It is derived from corn starch (in the US and Canada), tapioca roots, chips, or starch (mostly in Asia), or sugarcane (in RoW). This makes PLA non-toxic and an environmentally friendly material. Plastic products may take up to thousand years to degrade while PLA products biodegrade within 3–6 months in an industrial composting system. The key applications of PLA are thermoformed products, namely, drink cups, takeaway food trays, containers, and planter boxes. It has good rigidity and allows for replacement of polystyrene and PET in such applications. PLA is being adopted rapidly as it is more economical to manufacture PLA as compared with the synthesis of other biodegradable plastics.

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High Temperature Plastics Market, By Application: Highest Growth in Demand is Expected to Be Observed in Transportaion End-Use Industry

According to a new market research report "High Temperature Plastics Market by Type (Fluoropolymers, Polyphenylene Sulphide, Polysulfones, Polyimides and Others), by End-Use industries (Transportation, Electrical & Electronic, Industrial, Medical, and Others) - Global Trends & Forecast to 2019" the high temperature plastics market is projected to grow from $ 9,005.65 million in 2014 to $13,317.95 million by 2019, with a CAGR of 6.8% between 2014 and 2019. It also explains the driving and restraining factors of the global high temperature plastics market with an analysis of trends, opportunities, and challenges.

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The top players of the industry are profiled in detail with their recent developments and other strategic industry activities. These include Solvay S.A. (Belgium), SABIC Innovative Plastics (The Netherlands), E. I. du Pont de Nemours and Company (U.S.), Celanese Corporation (U.S.), Victrex plc. (U.K.), and others.

On the basis of types: The high temperature plastics market is further segmented into sub categories as follows:

• Fluoropolymers
• Polyphenylene Sulfide
• PolySulfone
• Polyimides, and
• Others

On the basis of applications: The high temperature plastics market is further segmented into sub categories as follows:

• Transportation
• Electrical & Electronics
• Industrial
• Medical, and
• Others

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The high temperature plastics market is segmented by type, by application, and by geography. The market size of each region such as North America, Europe, Asia-Pacific, and Rest of the World (RoW) is projected in the report. The key countries such as U.S., China, Germany and Japan are covered and their market size is forecasted along with their growth rates.

Fluoropolymers: Largest market segment

Fluoropolymers is the single-largest segment, holding more than 47% share of the global high temperature plastics market in 2014 and is projected to grow with a CAGR of 5.3% between 2014 and 2019. Asia-Pacific is the largest market for fluoropolymers and North America fallowed to be second largest market in 2014.

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Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : +1-888-600-6441
Email: newsletter@marketsandmarkets.com