Global biodegradable polymers market to reach 1845 mln lbs by 2015

Global biodegradable polymers market is expected to reach 1845 mln lbs by 2015, as per Global Industry Analysts Inc. Massive volumes of plastic products are disposed worldwide every year, exerting enormous pressure on the ecological balance. All such plastics form potential candidates for substitution by biodegradable polymers in future. Applications of biodegradable polymers, which were hitherto mostly confined to compostable waste bags/carrier bags, agriculture mulching film, and catering sectors, is rapidly widening to other sectors, including automotive, electronics, toy making, and healthcare. With enhanced processability, extending customer base and improved costs, biodegradable polymers are proving to be environmentally beneficial and economically viable alternative to conventional polymers. These polymers have generated wide scale interest amongst customers and companies alike. The presence of a sizable potential market has opened up a plethora of opportunities for companies within the chemical, agricultural, and plastic sectors. Europe presently accounts for majority of the biodegradable polymers market, as stated by a new market research report on Biodegradable Polymers. However, the soaring landfill prices in the US provide the market with significant growth opportunity. Factors such as fast depletion of petroleum-based raw materials, growing consumer awareness, global warming and increasing concerns over solid waste disposal, would continue to drive demand for biodegradable polymers in the US. In addition, Asian countries, including China and Japan, also exhibit strong growth potential for biodegradable polymers. Growing demand for eco-friendly products, mounting production volume, and the plastic waste control regulation promises a sanguine future for biodegradable polymers in China. Packaging (Loose-fill/Other), which traditionally represented the largest application area for biodegradable polymers, has been losing ground to other emerging applications, such as compost bags, agriculture, and horticulture. Lack of municipal composting facilities, curbside collection, popularity of air filled plastics as well as other materials for packaging protection is limiting the growth of biodegradable polymers in loose-fill packaging applications. This is in turn presenting lucrative opportunities for growth of biodegradable polymers in other major applications such as compost bags. The global market for biodegradable polymers from compost bags application is forecast to grow at a CAGR of 20.9% over the analysis period. Polylactic acid biopolymers and Copolyester-based biopolymers are the most widely used biodegradable polymers used. In addition, there is a continued demand for starch biopolymers in modified form, or blends (starch blended with other polymer or polyolefin). Major suppliers of starch-based biopolymers include Novamont, DuPont, among others.