WELLESLEY, Mass., June 07, 2018 (GLOBE NEWSWIRE) -- The biodegradable polymers market continues to gain significant interest due to government policies toward green and ecofriendly products. Also, a shift in consumer preference from conventional packaging to environment-conscious materials is boosting growth in the biodegradable polymers market, according to an updated report by BCC Research .
The biodegradable polymers industry is characterized by new technologies, tightening environmental restraints and unstable oil prices, according to the report Biodegradable Polymers: Global Markets and Technologies Through 2022 . The report estimates that the global market for biodegradable polymers to be measured at 484.7 kilotons in 2017 and 984.8 kilotons by 2022, indicating a compound annual growth rate (CAGR) of 15.2%.
This diverse market has yet to realize its full potential due to obstacles such as high prices, the lack of an industrial infrastructure and the varying production standards across the globe. Overall, the global commerce is expected to grow significantly because of high demand across a broad range of end-user industries.
Research Highlights
- The medical application segment of biodegradable polymers is expected to grow the fastest among applications.
- The packaging segment accounted 78.5% of the global market’s total value in 2017.
- The Asia-Pacific market is expected to achieve the highest growth rate (19.2% CAGR), in terms of value.
“The increasing environmental related norms and regulation towards the use of synthetic packaging materials across the regions has created a positive market outlook for the bio-based and sustainable packaging materials applications. The various applications of the biodegradable polymers are packaging, fibers/fabrics, agriculture, medical, food service, electrical and electronics, automotive and others. Increased competition and development in formulation technology and product development are continuing to stimulate growth in the global market,” stated the report.
Editors/reporters requesting analyst interviews should contact Eric Surber at press@bccresearch.com .
About BCC Research BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com . Follow BCC Research on Twitter at @BCCResearch .
