The global Biodegradable Plastic market is studied in detail in the new report on Qualiket Research. The new report studies the Biodegradable Plastic market by profiling its major driving factors and restraining factors, compiling a comprehensive database on the market’s historical growth trajectory and present conditions, and by using easy formulation of calculations and estimations through the use of industry-leading analytical tools and methods.

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Biodegradable plastic is a type of plant based plastic with no hazardous effects on environment. This plastic degrades naturally in base compounds in reasonable amount of time. Hence it is known as biodegradable plastic. Biodegradable plastic is made up of molecules which can break down naturally by the action of micro-organisms. It is divided into various types such as PLA (Polylactic Acid) PBAT (Polybutylene Adipate Terephthalate), PBS (POLYBUTYLENE SUCCINATE), PHA (POLYHYDROXYALKANOATES), Starch Blends, and Others

Market Drivers
Stringent regulations of government on the use of single use plastic coupled with increase in awareness among the people regarding ill -effects of plastic waste considered as the key driving factor which is expected to boost the global biodegradable plastic market growth. Furthermore, increase in use of biodegradable plastic in packaging as well as agricultural industry will positively contribute the market growth. Global biodegradable plastic market is in the inductor phase of industry life cycle and which is expected to explore the new opportunities in next few years. Recently, industry trends are shifting towards bio-based products to reduce dependence on conventional plastic which is expected to propel the market growth during this analysis period.

Market Restraints
However, higher cost of biodegradable plastics than conventional plastic is the major challenging factor which is expected to hinder the global biodegradable market growth during this forecast period.

Market Key Players
Various key players are discussed in this report such as BASF SE, Natureworks, Total Corbion PLA, Mitsubishi Chemical Corporation, Biome Bioplastics, Plantic Technologies, Bio-On, Danimer Scientific, and Novamont S.P.A.

Market Taxonomy
By Type
• PLA (Polylactic Acid)
• PBAT (Polybutylene Adipate Terephthalate)
• PBS (POLYBUTYLENE SUCCINATE)
• PHA (POLYHYDROXYALKANOATES)
• Starch Blends
• Others
By Application
• Packaging
• Agriculture
• Consumer Durable
• Textile
• Others
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

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