Demand of Global Biodegradable Polymer Market Size Will Grow to USD 9 Billion by 2026: Facts & Factors
New York, NY, March 11, 2021 (GLOBE NEWSWIRE) — Facts and Factors have published a new research report titled “Biodegradable Polymer Market By Type (Polymers with Carbon Backbones, Polymers with Hydrolyzable Backbones, Natural Polymers) and By Application (Packaging, Agricultural, Medical, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” .
“According to the research report, the global Biodegradable Polymer Market was estimated at USD 3.5 Billion in 2019 and is expected to reach USD 9 Billion by 2026. The global Biodegradable Polymer Market is expected to grow at a compound annual growth rate (CAGR) of 15% from 2019 to 2026”.
Polymers are compounds that are formed through chemical reactions and have high molar mass. Degradation is a process in which the products undergo a physical and chemical transformation that also results in a change of physical and mechanical properties. Biodegradation polymers generally breakdown into natural byproducts with the help of naturally occurring microbes such as algae, bacteria, and fungi. Biodegradable polymers are eco-friendly, non-toxic, and do not cause any kind of harm to the environment or other living things. Due to its non-toxic properties, its degradation can be controlled and it is capable to maintain its integrity until it is completely degraded.
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- 2020 Updated Report Introduction, Overview, and In-depth industry analysis
- COVID-19 Pandemic Outbreak Impact Analysis Included
- 190+ Pages Research Report (Inclusion of Updated Research)
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- 2020 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of table & figures
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
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Key Questions Answered in this Report
1) What was the impact of COVID-19 on the Biodegradable Polymer Market?
2) What is the market size, share of the Biodegradable Polymer Market?
3) Who are the top market players in Biodegradable Polymer Market?
4) What will be the future market of the Biodegradable Polymer Market?
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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Impact Analysis of COVID-19 Pandemic on Businesses: Know Short Term and Long Term Impact
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Rising emissions due to the dumping of petroleum products have raised concerns for the protection of the environment and natural resources and the use of biodegradable products is driving the demand for biodegradable polymers. In addition, biodegradable polymers are triggering the demand due to sustainable development policies, and government initiatives to concentrate on the use of eco-friendly polymers which is bolstering the market growth. Furthermore, the increasing price of raw materials used in the manufacture of petroleum products helps to increase demand. Conversely, restricted uses of biodegradable polymers, high production costs, and inconsistencies in the final product are obstacles to the market. Nonetheless, raw materials for the manufacture of biodegradable polymers are cost-effective and end-users of biodegradable polymers are on the rise.
The major key players in the biodegradable polymer market are as follows:
- Cortec group
- Mitsui Chemicals
- BIOTEC GmbH& Co
- FP International
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The major types of biodegradable polymers are polymers with hydrolyzable backbone, natural polymers, and polymers with a carbon backbone. Polymers with a hydrolyzable backbone are further classified into polyglycolic acid (PGA), polyurethanes, polyamides, polycaprolactone (PCL), and others, out of which polyglycolic acid (PGA) is used widely in manufacturing loose-fill packaging, food packaging, compost bags, and plastic bottles as a result of the shifting preference of consumers towards eco-friendly plastic products. The biodegradable polymers are used are packaging, agricultural, medical, and other applications. These polymers are widely used for packaging due to the new demographic conditions, growing demands of customers and their purchasing powers, increase in consumption of packaged food products, and increase in the use of medical and pharma equipment across the globe.
The report study further includes an in-depth analysis of industry players’ market shares and provides an overview of leading players’ market position in the Biodegradable Polymer sector. Key strategic developments in the Biodegradable Polymer market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the Biodegradable Polymer market are appropriately highlighted in the report.
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Polymers are those compounds that consist of an extended link of monomers and are formed through chemical reactions with high molar mass. Biodegradable polymers are non-toxic and eco-friendly products that generally break down into simple, natural, and reusable products. These biodegradable polymers are in huge demand due to the rising concern for environmental conservation and the demand for eco-friendly products that cause less harm to the environment and other living things. Governments of many countries are encouraging their citizens to switch to a sustainable lifestyle and use biodegradable products. These biodegradable polymers are largely used in the field of packaging as there is a never-ending demand of consumers for various products that are generally packed, stored, and transported from one location to another.
The Biodegradable Polymer market research report delivers an acute valuation and taxonomy of the Biodegradable Polymer industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the Biodegradable Polymer industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the Biodegradable Polymer industry is provided for the leading economies of the world.
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The Biodegradable Polymer market is segmented based on Type and Application. On the basis of type segmentation, the market is classified into Polymers with Carbon Backbones, Polymers with Hydrolyzable Backbones, Natural Polymers. In terms of Application segmentation, the market is bifurcated into Packaging, Agricultural, Medical, and Others.
The European region is predicted to dominate the market due to the increasing awareness among the citizens in using products that are safe for the environment. Countries of this region are focusing on green technology and advancing manufacturing that can reduce carbon emissions. The governments of different countries in this region are creating awareness among the citizens on the consequences of plastic use and other products that contains harmful chemicals and encouraging people to change the purchasing behavior and switch to a more sustainable lifestyle.
Browse the full “Biodegradable Polymer Market By Type (Polymers with Carbon Backbones, Polymers with Hydrolyzable Backbones, Natural Polymers) and By Application (Packaging, Agricultural, Medical, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” report at https://www.fnfresearch.com/biodegradable-polymer-market-by-type-polymers-with-carbon-744
This report segments the Biodegradable Polymer market as follows:
Global Biodegradable Polymer Market: By Type Segmentation Analysis
- Polymers with Carbon Backbones
- Polymers with Hydrolyzable Backbones
- Natural Polymers
Global Biodegradable Polymer Market: By Application Segmentation Analysis
Key Insights from Primary Research
- As per the views shared by our primary respondents, the Biodegradable Polymer market is expected to grow at a CAGR of around 15%.
- Through the primary analysis. The market for Biodegradable Polymer was valued at around USD 3.5 Billion in 2019.
- The category of “Polymers with hydrolyzable backbone”, on the basis of type segmentation was among the top category that generated the maximum revenue share.
- The category of “Packaging”, on the basis of application segmentation, was considered to be the leading revenue generator in 2019.
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