Biodegradable Polymers Market to Grow by USD 3.98 Billion during 2020-2024

Strategic Insights -

The biodegradable polymers market is expected to grow significantly during the forecast period, driven by increasing consumer appeal for eco-friendly packaging and a focus on sustainable production. Market research firm Technavio has predicted that the market will witness a compound annual growth rate (CAGR) of almost 17% during the forecast period. The market is segmented by product, geography, and application, with key players including Arkema SA, BASF SE, and Braskem SA.

Key Takeaways:

  • The biodegradable polymers market is expected to grow by USD 3.98 billion during 2020-2024.
  • The market will witness a neutral impact during the forecast period due to the widespread growth of the COVID-19 pandemic.
  • The biodegradable polymers market is driven by enhanced consumer appeal offered by eco-friendly packaging and a focus on sustainable production.
  • Key players in the market include Arkema SA, BASF SE, and Braskem SA.
  • The market is segmented by product (PLA, starch-based polymer, and others), geography (Europe, North America, APAC, South America, and MEA), and application (food packaging, foam packaging, biodegradable bags, and agriculture).
  • The biodegradable polymers market is expected to grow at a CAGR of almost 17% during the forecast period.
  • Organizations across the globe are gradually flattening their recessionary curve by leveraging technology, leading to a growth in market size.

Statistics:

  • The biodegradable polymers market is expected to grow by USD 3.98 billion during 2020-2024.
  • The market will witness a neutral impact during the forecast period due to the widespread growth of the COVID-19 pandemic.
  • The biodegradable polymers market has a CAGR of almost 17% during the forecast period.
  • The market is segmented by product, geography, and application, with key players including Arkema SA, BASF SE, and Braskem SA.
  • The market is driven by enhanced consumer appeal offered by eco-friendly packaging and a focus on sustainable production.

Sources:

  • Technavio. "Global Biodegradable Polymers Market 2020-2024". Business Wire. Retrieved from https://www.businesswire.com/news/home/20201203006057/en/.
  • Technavio. "Global Biodegradable Polymers Market 2020-2024". Business Wire. Retrieved from https://www.technavio.com/talk-to-us?report=IRTNTR44384.
  • Business Wire. "Technavio Announces 50% Discount on All Reports". Business Wire. Retrieved from https://www.businesswire.com/news/home/20201203006057/en/.