Global Biodegradable Plastics Market 2012-2016 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-24 06:39:02
The Global Biodegradable Plastics market is to grow at a CAGR of 19.60 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing demand for more eco-friendly packaging materials. The growth of the packaging industry is influenced by the need for non-toxic biodegradable plastics, which in turn has resulted in the increased demand for biodegradable plastics. The Global Biodegradable Plastics market has also been witnessing the increased investment in new plants and research facilities for developing new biodegradable plastics in a cost effective manner. However, the high production costs associated with biodegradable plastics, which in turn results in the rise of finished product prices could pose a challenge to the growth of this market.
The major trend witnessed by the Global Biodegradable Plastics market is the adoption of citywide composting by big cities around the world, particularly in North America and Western Europe. These cities have realized the need for reduction in greenhouse gas emissions by decreasing the waste materials disposed in landfills and incinerators. Since, biodegradable plastics can be easily composted in a period of few months, the space used for landfills have reduced dramatically. This will result in reduction of methane emission to the atmosphere. Decrease in the release of methane in the environment, which is about 72 times more potent than carbon dioxide as a greenhouse gas over a period of 20 years, will reduce the detrimental effects of plastics on the environment.
One of the major drivers in this market is the increasing demand for more eco-friendly packaging materials. The growth of the packaging industry is influenced by the need for non-toxic biodegradable plastics, which in turn has resulted in the increased demand for biodegradable plastics.
One of the major challenges in this market is the large production costs associated with biodegradable plastics, which in turn results in the rise of finished product prices.Key vendors dominating this space include BASF SE, Cereplast, NatureWorks LLC, and Novamont S.p.A.
Other vendors mentioned Arkema Group, ECM BioFilms Inc., E. I. du Pont de Nemours and Company, Innovia Films Ltd., Metabolix Inc., Mitsubishi Plastics Inc., Plantic Technologies Ltd., Purac Biochem BV.
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