CHICAGO, Jan. 17, 2020 /PRNewswire/ -- According to the new market research report "Biodegradable Polymers Market for Extrusion Coating, By Type (PLA, Starch, PBS, PHA), Substrate (Paper & Paperboard, Cellulose Films), Application (Rigid Packaging, Flexible Packaging, Liquid Packaging) Country - Forecast to 2024", published by MarketsandMarkets, the Biodegradable Polymers Market size is expected to grow from USD 403 million in 2019 to USD 829 million by 2024, at a CAGR of 15.5% during the forecast period.
Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=134449707
Browse in-depth TOC on "Biodegradable Polymers Market"
37 - Tables
28 - Figures
94 - Pages
View Detailed Table of Content Here:
https://www.marketsandmarkets.com/Market-Reports/biodegradable-polymer-market-134449707.html
The major factors driving the market include high demand from various packaging applications, such as rigid packaging, flexible packaging, and liquid packaging and stringent environmental regulations against the use of non-biodegradable polymers in the European region.
The PLA segment is the largest type of biodegradable polymers for extrusion coating.
Among the different types of biodegradable polymers for extrusion coating available, the PLA segment is the fastest-growing type. PLA can be safely used for the packaging of hot soup, coffee, and other hot beverages. It is often blended with starch to increase its biodegradability and reduce its cost. The key applications of PLA used for extrusion coating are dairy containers, disposable tableware, agricultural mulch films, milk & juice cartons, and planter boxes. PLA is being adopted rapidly as it is easily available and economical to manufacture as compared with other biodegradable polymers. These factors are expected to drive the biodegradable polymers market for extrusion coating during the forecast period.
The paper & paperboard segment is the largest substrate of biodegradable polymers for extrusion coating.
Among the different substrates available in the biodegradable polymers market for extrusion coating, paper & paperboard is the fastest-growing segment. PLA, PBS, and other biodegradable resins are used to extrude craft papers that are used in applications such as wrapping, grocery bags, sacks, and specialty packaging. Paper & paperboard is lightweight, recyclable, low-cost, and has an added advantage of improving the visual appearance of a product. The market in this segment is expected to grow in the coming years due to the increasing demand from the packaging industry.
Request Sample Pages:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=134449707
The flexible packaging application is expected to register the highest CAGR in the European biodegradable polymers market for extrusion coating during the forecast period.
The flexible packaging segment of the biodegradable polymers market for extrusion coating is the fastest-growing application. It is used in various industrial and consumer products. Many brands are shifting from rigid packaging to flexible packaging as it offers various advantages, such as longer shelf-life, low cost, consumer-friendliness, the capability of retaining the freshness of products, requirement of less energy, eco-friendliness, and others. In Europe, the demand for flexible packaging is expected to be driven by the food industry, specifically bakery and cereals segments of the industry.
Italy is expected to hold the largest market share in the European biodegradable polymers market for extrusion coating during the forecast period.
Italy is expected to account for the largest market share for Biodegradable Polymers Market for extrusion coating in Europe and is expected to offer significant growth opportunities to the overall market during the forecast period. The demand in the country is driven by the use of flexible packaging for various products, such as biscuits, snacks, noodles, and pasta, among others. In addition, Italy also provided expansion opportunities for the major players in the market. Bio-On (Italy) has started a new biodegradable and bioplastic production facility at Castel San Pietro Terme, Bologna (Italy). The new plant has been established to produce 100% natural and biodegradable special PHA bioplastics to be used in niche applications.
NatureWorks LLC (US), BASF SE (Germany), Total Corbion PLA (Netherlands), Mitsubishi Chemical Holdings Corporation (Japan), Biotech (Germany), Novamont S.P.A. (Italy), Biome Bioplastics (UK), Toray Industries (Japan), Bio-On (Italy), and Plantic Technologies (Australia), are the leading biodegradable polymers manufacturers for extrusion coating, in Europe.
Browse Adjacent Markets: Green Bio Chemicals Market Research Reports & Consulting
Related Reports:
Biodegradable Plastics Market by Type (PLA, Starch Blends, Biodegradable Polyesters, PHA), End Use Industry (Packaging & Bags, Consumer Goods, Agriculture & Horticulture), and Region (APAC, Europe, North America, Rest of the World) - Global Forecast to 2023
Extrusion Coating Market by Material Type (LDPE, EVA, PP), Substrate (Paper & Paperboard, Polymer Films, Aluminum Foil), and Region - Global Forecast to 2022
About MarketsandMarkets
MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/biodegradable-polymer-market.asp
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/biodegradable-polymer.asp
Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
