Market Analysis by End-Use Industries
Based on the end-use industries, the biodegradable polymers market is segmented into seven categories: packaging, fibers, agriculture, medical, electrical and electronics, automotive and others.
Packaging - Increasingly stringent rules on plastic usage and the rise in consumer awareness of biodegradable polymers are driving the growth of the packaging biodegradable polymers market.
For Example, in India, single-use plastic items, which have low utility and high littering potential, are no longer allowed to be manufactured, imported, stocked, distributed, sold, or used, according to the country’s Plastic Waste Management Amendment Rules, 2021 (Ministry of Environment, Forest and Climate Change, 2022). As a result, the consumption of biodegradable polymers increased dramatically in the Indian market.
Fibers - The growing population and rise in per capita consumption of textile fiber are creating significant demand for biodegradable polymers-based textile fiber in the global economy.
Under the European Green Deal, the European Commission highlights renewable energy, textile recycling, biodegradable polymers, agriculture and biodiversity possibilities to support a circular economy in Europe (The European Green Deal, EC, 2024). Due to this initiative, various European textile producers are creating wood-based biodegradable textile fibers.
Agriculture - The agriculture industry is a bulk buyer of biodegradable polymers for various applications, including mulching films and greenhouses. The growing advancement in agricultural practices and supporting government policies for sustainable plastic create massive opportunities for biodegradable polymer producers in the agricultural end-use industry.
Medical - Biodegradable polymers are used in various medical applications, including implants, drug reservoirs for controlled release of active pharmaceutical ingredients and micelle drug carriers and hydrogels for temporary replacement of tissues, functions and organs.
Advancements in medical practices and the rise in product approvals from government bodies further enhance the importance of biodegradable polymers in the medical industry.
Electrical and Electronics - Growing e-waste and rigorous government mandates for recycling such waste help encourage electrical and electronic manufacturers to use biodegradable polymers in their products.
Automotive - In the automotive industry, biodegradable polymers are used in the production of dashboards and interior and exterior parts of cars. Moreover, vehicle insulation can be made with biodegradable polymers, which can lower carbon emissions and increase energy efficiency.
Others - Others include consumer goods, coating, adhesives and 3D printing industries.
Conclusion
The global market for biodegradable polymers is poised for significant growth, driven by increasing environmental awareness and stringent regulations on plastic use. Embracing biodegradability isn't just a trend; it's a pivotal step towards a cleaner, more sustainable future.
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