Report : Middle East and Africa Bioplastics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Biodegradable and Non-Biodegradable) and Application (Packaging, Agriculture, Consumer Goods, Automotive & Transportation, Textiles, Building & Construction, and Others) Â Â Â Â Â Â
Biodegradable Segment to Dominate MEA Bioplastics Market during 2020–2028
According to a new market research study on “MEA Bioplastics Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and Application” is expected to reach US$ 484.60 million by 2028 from 229.35 US$ million in 2021. The market is estimated to grow at a CAGR of 11.3% from 2021 to 2028. The report provides trends prevailing in the MEA bioplastics market along with the drivers and restraints pertaining to the market growth. Rising focus on innovations and technology advancement is the major factor driving the growth of the MEA bioplastics market. However, issues associated with higher prices and shorter lifetime of bioplastics than traditional plastics hinders the growth of MEA bioplastics market.
MEA bioplastics market is segmented into type, application, and country. Based on type, the market is segmented into biodegradable and non-biodegradable. The biodegradable segment held the largest market share in 2020. Based on application, the MEA bioplastics market has been divided into packaging, agriculture, consumer goods, automotive & transportation, textiles, building & construction, and others. The packaging segment held the largest market share in 2020. Based on country, the MEA bioplastics market is segmented into South Africa, Saudi Arabia, UAE, and rest of MEA. Furthermore, Basf SE; Biome Bioplastics; Braskem S.A.; Mitsubishi Chemical Corporation; Sabic; Teijin Limited; Toray Industries, Inc.; and Total Corbion PLA are among the leading companies in the MEA bioplastics market.
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