Asia Pacific Biodegradable Plastic Market Key Players and Opportunities by 2027

The Asia Pacific biodegradable plastic market is accounted to US$ 731.0 Mn in 2018 and is expected to grow at a CAGR of 16.6% during the forecast period 2019 – 2027, to account to US$ 2,916.1 Mn by 2027.

China is dominating the Asia Pacific biodegradable plastic market followed by Japan. The market for biodegradable plastic is growing in China due to rising concerns from consumers over the impact plastic products have on the environment. The rising concerns over plastic use may lead to regulators banning single-use, non-biodegradable plastics such as cutlery and packaging in the country. Chinese plastic manufacturers are responsible for the highest share of global plastic production are now looking to develop more biodegradable plastic products.

Asia Pacific Biodegradable Plastic Market

Market Insights

Growing awareness of the adverse effects attributed to conventional plastics

The customers in developed and developing countries have become more aware of the ill effects of conventional plastics on their lifestyle and the environment. Various organizations are working toward bringing transformation in the handling of plastics, through strategic planning, communication, consumer awareness campaigns, documentary films, education, cleanup campaigns, raising business awareness, scientific research, entrepreneurial innovation, legislation, and sustainability. The key aim is to increase the understanding of users regarding plastic pollution, thereby encouraging the invention of more sustainable solutions, and empowerment of more people and business organizations to take action to stop plastic pollution. Therefore, the revolution in consumer demand on the basis of environmental awareness, packaging convenience, and sustainable plastic production systems is boosting the global biodegradable plastic market growth.

Type Insights

Based on type, the Asia Pacific biodegradable plastic market is bifurcated as PHA, PLA, starch blends, biodegradable polyesters and others. The starch blend segment dominated the Asia Pacific 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 combination of starch and polyolefin produces a single material carrying the biodegradation properties of starch with the thermal, mechanical and barrier properties of polyolefin. Starch has been receiving increasing attention as raw material for the manufacturing of films due to the lack of the availability of the conventional film-forming resins. The low permeability of starch films has made it an element of choice for the food packaging application

End User Insights

The Asia Pacific 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 Asia Pacific biodegradable plastic market. The biodegradable plastics have found a profound place in the packaging and bags sector considering the growing demand for biodegradable plastic from the packaging sector due to its properties like being stronger and convenient to use as compared to the traditional plastics. Rigid packaging is implemented by manufacturers of cosmetic goods, as well as beverage bottles, among others. Materials including bio-PE, PLA, or bio-PET, are commonly used in rigid biodegradable plastic packaging.

Rest of Asia Pacific Biodegradable Plastic Market by Type

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Asia Pacific Biodegradable Plastic Market: Strategic Insights

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New product development, market initiatives and merger and acquisition were observed as the most adopted strategies in Asia Pacific biodegradable plastic market. Few of the recent developments in the Asia Pacific Biodegradable plastic market are listed below:

2019:

Total Corbion PLA opened its bio plastics plant in Rayong, Thailand. It has the production capacity of 75,000 tons/year

2018:

BASF SE started a pilot project, namely Ecovio Plus, in Kalyani, West Bengal (India) to promote the organic waste carrier bags made up of biodegradable plastics, Ecovio.

2018:

Mitsubishi Chemical Corporation announced that Japan Pulp and Paper Co., Ltd. would start selling their paper cups made up of Biodegradable plastic products, BioPBS.                            

ASIA PACIFIC BIODEGRADABLE PLASTIC MARKET SEGMENTATION

By Type   

• PHA
• PLA
• Starch Blends
• Biodegradable Polyesters
• Others

By End User

• Packaging and Bags
• Agriculture and Horticulture

• Consumer Goods
• Textile
• Others

By Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of Asia Pacific

Company Profiles

• API SpA
• BASF S.E.
• FKuR Kunststoff GmbH
• Balson Industries
• Novamont S.p.A.
• Kingfa Sci. & Tech. Co., Ltd.
• GuangDong Huazhilu Biological Material Co., Ltd.
• Mitsubishi Chemical Corporation
• Plantic Technologies Limited
• Total Corbion PLA

Report Scope

Asia Pacific Biodegradable Plastic Market Regional Insights

The regional trends and factors influencing the Asia Pacific Biodegradable Plastic Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Asia Pacific Biodegradable Plastic Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Asia Pacific Biodegradable Plastic Market Report Scope

Asia Pacific Biodegradable Plastic Market Players Density: Understanding Its Impact on Business Dynamics

The Asia Pacific Biodegradable Plastic Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Asia Pacific Biodegradable Plastic Market are:

1. API SpA
2. BASF S.E
3. FKuR Kunststoff GmbH
4. Balson Industries
5. Novamont S.p.A.

Disclaimer: The companies listed above are not ranked in any particular order.