The Europe bio-degradable plastic market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 12% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Bio-degradable plastics, also referred to as bioplastics, are designed to be decomposed upon exposure to microorganisms into water, carbon dioxide, and biomass under specific conditions. They are primarily produced by using all-natural plant- or animal-based raw materials, such as orange peels, corn oil, switchgrass, soybeans, starch, etc. Various types of bio-degradable plastics include Polybutylene Adipate Terephthalate (PBAT), Polybutylene Succinate (PBS), Polylactic Acid (PLA), Polyhydroxyalkanoates (PHA), etc. These products help in reducing carbon dioxide emissions, lowering manufacturing costs, and minimizing the amount of waste produced. As a result, bio-degradable plastics are widely used across various industries, such as food and beverages, pharmaceuticals, personal & home care, consumer goods, textile, etc.
Increasing consumer concerns towards the negative impact of synthetic plastics on the environment are primarily driving the Europe bio-degradable plastics market. Additionally, the changing preferences from single-use plastic towards recyclable and eco-friendly packaging materials to reduce carbon footprints are also proliferating the product demand. In line with this, the expanding foodservice sector coupled with the continuous replacement of conventional plastics with bio-degradable boxes, cups, plates, etc., is further augmenting the market growth in Europe. Moreover, the emergence of the e-commerce industry has also led to the increasing adoption of bioplastic packaging solutions to support ecological sustainability and reduce landfills. Apart from this, the growing consumer inclination towards lightweight automotive components to enhance fuel efficiency and minimize vehicular emissions is further bolstering the use of bioplastics in the automobile sector. Additionally, the implementation of stringent regulations by the European Commission for banning single-use plastics is promoting the dependence on bio-degradable plastics. In the coming years, continuous technological innovations and extensive R&D activities to enhance the durability and heat-resistance of bioplastics will continue to drive the market growth across the region.
IMARC Group provides an analysis of the key trends in each sub-segment of the Europe bio-degradable plastic market report, along with forecasts for growth at the region level from 2021-2026. Our report has categorized the market based on region, product type and end use industry.
Breakup by Product Type:
Breakup by End Use Industry:
Breakup by Country:
The report has also analysed the competitive landscape of the market with some of the key players being API SpA, BASF SE, Biome Bioplastics (Biome Technologies plc), FKuR Kunstatoff GmbH, Kingfa Sci. & Tech. Co., Ltd, Mitsubishi Chemical Corporation, Natureworks LLC (Cargill Incorporated), Novamont S.p.A, Plantic (Kuraray Co., Ltd) and Toray Industries Inc.
|Base Year of the Analysis||2020|
|Segment Coverage||Product Type, End Use Industry, Country|
|Countries Covered||Germany, France, United Kingdom, Italy, Spain|
|Companies Covered||API SpA, BASF SE, Biome Bioplastics (Biome Technologies plc), FKuR Kunstatoff GmbH, Kingfa Sci. & Tech. Co., Ltd, Mitsubishi Chemical Corporation, Natureworks LLC (Cargill Incorporated), Novamont S.p.A, Plantic (Kuraray Co., Ltd) and Toray Industries Inc.|
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