The North America biodegradable plastic market is accounted to US$ 806.9 Mn in 2018 and is expected to grow at a CAGR of 14.0% during the forecast period 2019 – 2027, to account to US$ 2,622.4 Mn by 2027.
U.S. is dominating the North America biodegradable plastic market followed by Canada. The market for biodegradable plastic is growing in U.S. due to increasing concerns by the consumers over the impact plastic products have on the environment. The manufacturers have come up with several innovations in the case of plastics to turn it up into greener products. The development of bioresin as an environmentally friendly substitute to polyurethane-based plastic is considered to be one of the important transformations towards the green future. New York City has also supported the bans on no-biodegradable plastics by imposing strict guidelines for recycling plastic bags. Also, cities like Boston and Phoenix, have started charging fees or banning bags below a certain level of thickness. Apart from this, the other cities which have banned the use of plastic bags in U.S. are Chicago Seattle, Los Angeles, Austin and San Francisco, Washington, Brownsville, and Portland.
Exhibit: North America Biodegradable Plastic Market
Market Insights
Growing awareness of the adverse effects attributed to conventional plastics
The customers in developed and developing countries have been notified of the ill effects of conventional plastics on their lifestyle and the environment. As a result, they demand more environmentally friendly products, which leads to a depreciation in the use of crude oil and natural gas, that results in the reduction carbon footprints. The biodegradable plastics are amalgamated using renewable resources as well as fossil raw materials, such as cellulose ester, PLA, PHA, starch derivatives, and copolyesters (PBS, PBAT, etc.). Various organizations are engaged in bringing transformation in the handling of plastics, through strategic planning, communication, consumer awareness campaigns, documentary films, education, clean up campaigns, raising business awareness, scientific research, entrepreneurial innovation, legislation, and sustainability.
Type Insights
Based on type, the North America biodegradable plastic market is bifurcated as PHA, PLA, starch blends, biodegradable polyesters and others. The starch blend segment dominated the North America biodegradable plastic market. The starch blend polymer bio-blends are biodegradable polymeric materials which are composed of cellulosic-based biomaterials that can be degraded by enzymes and microorganisms. The mixture of starch and polyolefin produces a single material carrying the biodegradation properties of starch with the thermal, mechanical and barrier properties of polyolefin. The common starches that are used are rice starch, sago and tapioca starch, whereas the polyolefin used are polypropylene and polyethylene. Starch is a naturally occurring polymer that is found in plants such as corn, rice and potatoes in the form of water-insoluble granules and has been receiving growing attention as raw material for the production of films due to the lack of the availability of the conventional film-forming resins.
End User Insights
The North America Biodegradable plastic market is bifurcated based on end user into packaging and bags, agriculture and horticulture, consumer goods, textile and others. The packaging and bags segment accounted for the largest share in the North America biodegradable plastic market. The adoption of PLA, being a potentially recyclable material, is gaining an upsurge for the biodegradable plastic rigid packaging market. Flexible packaging solutions including, trays and films that are most suitable for the packaging of fresh fruits and vegetables as they allow a more extended shelf life. In the present scenario, packaging processes and materials are highly sophisticated and flexible to meet application and preservations requirements. The biodegradable plastic industry is continuously working on enhancing barrier properties such as antimicrobial coating to attain improved preservation of food products.
Exhibit: North America Biodegradable Plastic Market by Type
Strategic Insights
New product development, market initiatives and merger and acquisition were observed as the most adopted strategies in North America biodegradable plastic market. Few of the recent developments in the North America Biodegradable plastic market are listed below:
2018: Sealed Air Corporation would start offering their packaged food items in the U.S., Mexico and Canada. These packaging materials are made up of bio based materials of Plantic Technologies Limited.
2019: NatureWorks and its partners will showcase new, innovative Ingeo PLA biomaterials that demonstrate how Ingeo can be tailored to enhance performance attributes critical to the 3D market like heat and impact resistance or clean incineration for foundry applications.
2017: Green Dot Bioplastics developed its new biodegradable plastic, Terratek BD2114. It is basically created for the making of plantable pots.
NORTH AMERICA BIODEGRADABLE PLASTIC MARKET SEGMENTATION
By Type
By End User
By Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 806.9 Million |
| Market Size by 2027 | US$ 2,622.4 Million |
| CAGR (2019 - 2027) | 14.0% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Type
|
|
Regions and Countries Covered
|
|
| North America | US, Canada, Mexico |
| Market leaders and key company profiles |
|
The North America Biodegradable Plastic Market is valued at US$ 806.9 Million in 2018, it is projected to reach US$ 2,622.4 Million by 2027.
As per our report North America Biodegradable Plastic Market, the market size is valued at US$ 806.9 Million in 2018, projecting it to reach US$ 2,622.4 Million by 2027. This translates to a CAGR of approximately 14.0% during the forecast period.
The North America Biodegradable Plastic Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Biodegradable Plastic Market report:
The North America Biodegradable Plastic Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Biodegradable Plastic Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Biodegradable Plastic Market value chain can benefit from the information contained in a comprehensive market report.
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