Global Degradable Materials Market Size By Type Of Material, By Application, By End-User Industry, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Global Degradable Materials Market Size By Type Of Material, By Application, By End-User Industry, By Geographic Scope And Forecast
Degradable Materials Market Size And Forecast
Degradable Materials Market size was valued at USD 101.16 USD Billion in 2023 and is projected to reach USD 159.38 USD Billion by 2031,growing at a CAGR of 6.45%during the forecast period 2024-2031.
Global Degradable Materials Market Drivers
The market drivers for the Degradable Materials Market can be influenced by various factors. These may include
Environmental ConcernsThe need for degradable materials is being driven by the increasing knowledge of the environmental effects of non-degradable materials.
Supportive Laws and Regulations Promoting Biodegradable Materials Supportive laws and regulations encouraging the use of biodegradable materials instead of conventional non-degradable ones can spur market expansion.
Customers PreferencesOne important factor is the growing inclination of consumers for environmentally friendly goods and packaging materials.
Corporate Sustainability InitiativesA lot of businesses are establishing sustainability objectives, and one of them is usually using biodegradable materials in their goods and packaging.
Technological Advancements Market growth is being fueled by the development of more economical and effective degradable materials brought about by ongoing technological breakthroughs.
Waste Management IssuesThe use of degradable materials is being pushed by the necessity to solve waste management issues, particularly in highly populated areas.
Impact of Efficient End-of-Life Solutions on the Sustainability of Degradable Materials Availability of efficient end-of-life choices, such composting and biodegradation, for degradable materials is a major factor.
Cost Competitiveness As the price of manufacturing degradable materials drops, so does their ability to compete with conventional materials and spur market expansion.
Global Degradable Materials Market Restraints
Several factors can act as restraints or challenges for the Degradable Materials Market. These may include
CostParticularly in areas where prices are sensitive, the cost of producing degradable materials may prevent them from being as widely used as conventional materials.
PerformanceCertain applications may be limited by the fact that some degradable materials may not perform or last as long as conventional materials.
Navigating Regulatory Complexities Regulations and standards for degradable materials can be complicated and expensive to comply with, which puts some businesses at a disadvantage when trying to enter the market.
Challenges in Market ExpansionMarket expansion may be hampered by customers’ ignorance of the advantages and appropriate disposal techniques of biodegradable materials.
Infrastructure Insufficient recycling or composting infrastructure can restrict the disposal alternatives for biodegradable materials, which will make them less appealing to both consumers and businesses.
Supply Chain Restraints Difficulties in the supply chain or a lack of raw materials might affect the manufacture and distribution of biodegradable goods.
End-of-Life Issues Adoption can be discouraged by worries about how well degradable materials work in actual settings and how they affect soil, water, and wildlife.
Global Degradable Materials Market Segmentation Analysis
The Global Degradable Materials Market is Segmented on the basis of Type of Material, Application, End-User Industry and Geography.
Degradable Materials Market, By Type of Material
Biodegradable PlasticsPlastics that can be broken down by microorganisms into natural substances such as water, carbon dioxide, and compost.
Biodegradable PolymersPolymers that undergo degradation through the action of living organisms, typically bacteria or fungi.
Starch-based MaterialsMaterials made from starch, which can be broken down by enzymes into simpler compounds.
Degradable Materials Market, By Application
PackagingUse of degradable materials in packaging to reduce environmental impact and promote sustainability.
AgricultureIncorporation of degradable materials in agricultural practices, such as mulching films and soil erosion control.
BiomedicalApplication of degradable materials in medical devices, drug delivery systems, and tissue engineering.
OthersVarious other applications where degradable materials offer environmental benefits, such as in textiles and consumer goods.
Degradable Materials Market,By End-User Industry
Food and BeverageUse of degradable materials in food packaging and related applications to reduce plastic waste.
HealthcareApplication of degradable materials in medical devices, pharmaceutical packaging, and other healthcare-related products.
Consumer GoodsIncorporation of degradable materials in consumer products to promote sustainability and reduce environmental impact.
OthersVarious industries adopting degradable materials for different purposes, such as automotive, electronics, and construction.
Degradable Materials Market, By Geogrsaphy
North AmericaMarket conditions and demand in the United States, Canada, and Mexico.
EuropeAnalysis of the DEGRADABLE MATERIALS MARKET in European countries.
Asia-PacificFocusing on countries like China, India, Japan, South Korea, and others.
Middle East and AfricaExamining market dynamics in the Middle East and African regions.
Latin AmericaCovering market trends and developments in countries across Latin America.
Key Players
The major players in the Degradable Materials Market are
Metabolix Inc
BASF SE
Amcor
Natureworks LLC
Biome Technologies PLC
Mistubishi Chemical Corp
Plantic Technologies Limited
Bio-On SRL
Smurfit Kappa
Tianan
Tetra Pak International SA
Report Scope
REPORT ATTRIBUTES
DETAILS
Study Period
2020-2031
Base Year
2023
Forecast Period
2024-2031
HISTORICAL PERIOD
2020-2022
UNIT
Value (USD Billion)
Key Companies Profiled
Metabolix Inc, BASF SE, Amcor, Natureworks LLC, Biome Technologies PLC, Mistubishi Chemical Corp, Plantic Technologies Limited, Bio-On SRL.
Segments Covered
By Type Of Material, By Application, By End-User Industry, And By Geography.
Customization scope
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Research Methodology of Market Research
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support
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