Biodegradable Polymers Market Regional Analysis:
APAC Market Statistics
Asia Pacific industry is set to account for largest revenue share of 37% by 2035. The region is focused on reducing plastic pollution, leading to increased demand for eco-friendly products. This further encourages the extensive adoption of bio-based polymers to align with strict regional environmental regulations. The enlarging surge for organic consumer goods is also influencing companies to accelerate renewable polymer production. Global leaders are now expanding their production capacity of renewable polymers to capture such a large market space. For instance, in April 2023, BASF established compounding capacities in China to make Ecovio accessible to customers in Asia Pacific. Qualifying trials aim to extend the company portfolio by introducing innovative biopolymers and services.
India is embarking on significant growth in the biodegradable polymers market due to increased plastic pollution across the country. Government and public health authorities are proactively taking action to help promote compostable products. Thus, it increases the demand for biodegradable polymers to produce organic products. Both domestic and international companies are contributing to offering regulatory-compliant materials. Research and development are also being encouraged to introduce more efficient solutions. For instance, in September 2023, researchers from IASST, Guwahati discovered a flexible biodegradable nanocomposite film PVA-CuO. The optically active polymer performs excellently for stretchable optical devices such as flexible displays, flexible organic LED, and others.
Holding one of the biggest populations in the world, China has been reported to encounter massive plastic pollution. According to a report published by the Asian Development Bank, in June 2023, the PRC generated 590.4 million tons of plastic waste by 2019. This has paved the focus of both national and international environmental organizations. Besides recycling, they are considering the implementation of bioplastics in every sector as an effective solution. The government of China is also contributing to this growth by issuing subsidiary projects. Thus, it further fosters great investment opportunities for the market.
North America Market Analysis
North America is predicted to generate notable revenue from the biodegradable polymers market by the end of 2035. Increasing consumer awareness is influencing industries to restrict the usage of single-use plastics. The regulatory framework also promotes the adoption of renewable alternatives for packaging and other industries. The diverse applications and public-private collaboration are helping to commercialize bioplastics. The market expansion is also propelled by increased research and development in this sector.
The U.S. is projected to register a remarkable adoption rate in the biodegradable polymers market. As obtaining sustainability becomes a priority for industries, the country is predominantly acquiring a larger consumer base for continued growth. Advancements in polymers such as PLA and PHA are inspiring companies to introduce more innovation in this sector. Global leaders are investing to expand their product portfolio to offer affordable materials. For instance, in August 2021, Danimer Scientific acquired Novomer, a biodegradable polymer production house. The strategic move was made to access Novomer’s conversion technology and quality materials to reduce its production cost.
Canada is garnering a lucrative scope of development in the biodegradable polymers market by investing in replacing plastic usage with alternative renewables. Growing demand for sustainable packaging and consumer goods penetrating innovations. The country is positioning itself as a big market participant by fostering collaboration among businesses. Industries are adopting bio-based solutions to meet their sustainability goals and consumer expectations. Moreover, the partnered effort from government and private individuals is presenting a favorable opportunity for global leaders.
