Market Overview:
The global photodegradable plastic market is expected to grow at a CAGR of 6.5% from 2018 to 2030. The growth in the market can be attributed to the increasing awareness about environmental concerns and the need for sustainable packaging solutions. In addition, the growing demand for biodegradable plastics from end-use industries such as automotive, packing, and bottles manufacturing is also contributing to the growth of this market. Based on type, copolymer accounted for the largest share of the global photodegradable plastic market in 2017. This segment is projected to grow at a CAGR of 7% during the forecast period. Additive was another major type segment in this market and is expected to grow at a CAGR of 5%.
Product Definition:
Photodegradable plastics are designed to break down into environmentally friendly components under the influence of sunlight. They can be used for a wide range of applications, including packaging and agricultural mulch.
Copolymer:
Copolymer is a kind of synthetic resin, which contains two or more kinds of monomers. Copolymers are used in various end-use industries such as construction, packaging and electrical & electronics industries. The global copolymer market size was estimated at USD 23 billion in 2016 and is expected to grow at a CAGR of XX% over the forecast period.
Additive:
Additive manufacturing is also known as 3D printing or additive manufacturing. It is a process of making three-dimensional objects from a digital file which comprises of instructions to create the object. Additive processes are characterized by the ability to grow, shape and build an object without any restrictions on size or shape. The material used in this process changes depending upon what type of machine is used for instance, inkjet printers use liquid resin whereas laser printers use powder formatter.
Application Insights:
The packing industry was the dominant application segment and accounted for over 30% of the global revenue share in 2017. The growth can be attributed to increasing demand from food & beverage, personal care, pharmaceutical industries. Bottles manufacturing followed closely behind with a market share of 29%. bottles are being manufactured using degradable plastics such as polylactic acid (PLA) and polyglycolic acid (PGA).
Photodegradable plastics are used in automotive industry owing to their ability to reduce weight and increase fuel efficiency. They have also been recognized as an effective solution against CO2 emissions which tend to rise during production of vehicles due to combustion process involved. Photodegradable additives have also been recognized as ideal solutions for reducing overall vehicle weight without affecting its performance or durability characteristics while enhancing safety features such as impact strength and chemical resistance properties offered by these additives is expected boost product demand further over the forecast period.
Regional Analysis:
Asia Pacific was the leading regional market in 2017 and is anticipated to continue its dominance over the forecast period. The region accounts for a major share of global population, with China and India being some of the most populous countries in the world. This has led to an increase in demand from end-use industries such as medical, food & beverages, automotive, etc., thereby boosting industry growth.
The photodegradable plastics market is expected to grow at a significant rate owing to various government initiatives promoting investments from domestic as well as foreign players into manufacturing facilities for end-use industries such as packaging or automotive. For instance; In January 2018; Evonik announced plans for constructing a €50 million plant that will focus on producing polymers based on 3D printing technology across Europe’s first industrial 3D printer lab called “Fab 4U†developed by Eureka Fabtech GmbH located near Hanover Germany (figure 1).
Growth Factors:
- Increasing awareness about the benefits of using photodegradable plastics over traditional plastics
- Rising environmental concerns among consumers and businesses alike
- Government initiatives and regulations to promote the use of photodegradable plastics
- Growing demand for biodegradable materials in packaging and other applications
- Technological advancements that make manufacturing photodegradable plastics more cost-effective
Scope Of The Report
Report Attributes
Report Details
Report Title
Photodegradable Plastic Market Research Report
By Type
Copolymer, Additive
By Application
Packing Industry, Automotive Industry, Bottles Manufacturing, Others
By Companies
Covestro, Kraiburg, BASF, Corbion, Cargill(Natureworks), Biome Technologies, Mitsubishi Chemical, Kuraray, Bio-On
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
229
Number of Tables & Figures
161
Customization Available
Yes, the report can be customized as per your need.
Global Photodegradable Plastic Market Report Segments:
The global Photodegradable Plastic market is segmented on the basis of:
Types
Copolymer, Additive
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Packing Industry, Automotive Industry, Bottles Manufacturing, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Covestro
- Kraiburg
- BASF
- Corbion
- Cargill(Natureworks)
- Biome Technologies
- Mitsubishi Chemical
- Kuraray
- Bio-On
Highlights of The Photodegradable Plastic Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Copolymer
- Additive
- By Application:
- Packing Industry
- Automotive Industry
- Bottles Manufacturing
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Photodegradable Plastic Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Photodegradable plastic is a type of plastic that can be broken down by the sun or other natural elements. This type of plastic is often used in products that will be exposed to sunlight, like bottles and packaging.
Some of the key players operating in the photodegradable plastic market are Covestro, Kraiburg, BASF, Corbion, Cargill(Natureworks), Biome Technologies, Mitsubishi Chemical, Kuraray, Bio-On.
The photodegradable plastic market is expected to register a CAGR of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Photodegradable Plastic Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Photodegradable Plastic Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Photodegradable Plastic Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Photodegradable Plastic Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Photodegradable Plastic Market Size & Forecast, 2020-2028
4.5.1 Photodegradable Plastic Market Size and Y-o-Y Growth
4.5.2 Photodegradable Plastic Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Copolymer
5.2.2 Additive
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Packing Industry
6.2.2 Automotive Industry
6.2.3 Bottles Manufacturing
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Photodegradable Plastic Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Photodegradable Plastic Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Copolymer
9.6.2 Additive
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Packing Industry
9.10.2 Automotive Industry
9.10.3 Bottles Manufacturing
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Copolymer
10.6.2 Additive
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Packing Industry
10.10.2 Automotive Industry
10.10.3 Bottles Manufacturing
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Copolymer
11.6.2 Additive
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Packing Industry
11.10.2 Automotive Industry
11.10.3 Bottles Manufacturing
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Copolymer
12.6.2 Additive
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Packing Industry
12.10.2 Automotive Industry
12.10.3 Bottles Manufacturing
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Copolymer
13.6.2 Additive
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Packing Industry
13.10.2 Automotive Industry
13.10.3 Bottles Manufacturing
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Photodegradable Plastic Market: Competitive Dashboard
14.2 Global Photodegradable Plastic Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Covestro
14.3.2 Kraiburg
14.3.3 BASF
14.3.4 Corbion
14.3.5 Cargill(Natureworks)
14.3.6 Biome Technologies
14.3.7 Mitsubishi Chemical
14.3.8 Kuraray
14.3.9 Bio-On
