Europe Biodegradable Plastics Market to be dominated by utilization of biodegradable plastics in textile industry through 2028
Initiatives taken by
government regarding biodegradable plastics are the major drivers for the Europe
Biodegradable Plastics Market.
According to TechSci Research
report, “Europe Biodegradable plastics Market –Industry Size, Share, Trends,
Competition, Opportunity and Forecast, 2018-2028”, the Europe Biodegradable Plastics Market is anticipated
to register a high CAGR during the forecast period. This can be ascribed to
collaborations and partnerships among leading companies with a diverse approach
to merge the expertise of individual companies and to strengthen their position
in the market.
Biodegradable plastics,
also referred to as bioplastics, are derived from renewable resources such as
corn starch, sugarcane, and potato starch. These materials naturally decompose,
effectively mitigating the long-lasting environmental impact associated with
traditional synthetic textiles. The textile industry is facing pressure to
transition towards eco-friendly materials that align with consumer values,
making biodegradable plastics an appealing alternative. Europe's rigorous
environmental regulations have paved the way for the adoption of biodegradable
materials. Policies that promote circular economy practices and reduce plastic
waste have incentivized the textile industry to seek alternatives to
conventional materials. The collaboration between textile researchers and
bioplastic manufacturers has resulted in the development of biodegradable
fabrics with desirable properties. Innovations range from biodegradable fibers
to textiles that can be composted after their useful lifespan.
Browse over XX market data Figures and spread through 110 Pages and an in-depth TOC on "Europe Biodegradable Plastics Market.”
The textile industry
generates significant waste during production and post-consumer use.
Biodegradable textiles contribute to waste reduction as they naturally break
down and do not accumulate in the environment. Europe is at the forefront of
integrating biodegradable plastics into the textile industry. Initiatives such
as the European Strategy for Plastics in a Circular Economy and collaborations
between bioplastic manufacturers and fashion brands are driving innovation and
raising awareness. European governments have recognized the urgent imperative
to address plastic pollution and have taken proactive measures to incentivize
the adoption of biodegradable plastics. Several European countries and the
European Union (EU) have implemented or proposed bans on single-use plastics
such as straws, cutlery, and stirrers. By fostering a market demand for
biodegradable alternatives, these bans stimulate innovation and growth in the
biodegradable plastics sector. Governments have introduced eco-labeling
programs and certification standards for biodegradable plastics, providing
consumers with accurate information about the environmental benefits of such
products and fostering their acceptance in the market. As part of the European
Green Deal, the European Commission has announced plans to propose new
legislation on packaging, packaging waste, and bioplastics. These proposals aim
to enhance the regulation and management of biodegradable plastics and promote
their responsible use. The evolution of Europe's biodegradable plastics market
is heavily influenced by the power of collaborations and partnerships.
Successful partnerships span the entire supply chain, from raw material
suppliers to manufacturers, distributors, and retailers. Cooperation ensures a seamless
flow of biodegradable materials, encourages adoption, and enhances the overall
market dynamics.
One recent collaboration
in the realm of biodegradable plastics in Europe involves TotalEnergies
Corbion. They have announced that their Luminy Polylactic Acid (PLA)
bioplastics have successfully met the stringent criteria of EU regulations.
This collaboration aims to develop and promote bioplastics that comply with
European standards. Another notable partnership involves Borealis and Ecopost,
who are working together to scale up the collection and recycling of Kenyan
plastic waste, including biodegradable plastics. The primary objective of this
partnership is to advance the recovery and recycling of biodegradable plastics,
thereby contributing to a more sustainable approach to plastic waste
management.
However, limited
infrastructure for composting and recycling along with lack in availability of
biodegradable plastics are expected to slow down the growth of the market in
the coming years.
The Europe Biodegradable
Plastics Market segmentation is based on Type, Application, By Company, and
Region.
Some of the major
companies operating in the Europe Biodegradable Plastics Market include:
- EASTMAN CHEMICAL COMPANY
- BASF SE
- DOW INC.
- FKUR KUNSTSTOFF GmbH
- MINIMA TECHNOLOGY CO.
LTD.
- SOLANYL BIOPOLYMERS INC.
- Mitsubishi Chemical
Europe GmbH
- NOVAMONT S.P.A
- Danimer Scientific Inc.
- Toray International Inc.
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“Certain countries,
particularly the Germany, are projected to exert significant demand for biodegradable
plastics in Europe. The growth in the competitive landscape and the presence of
well-established companies in the market, committed to enhancing their biodegradable
plastics productivity each year, are expected to contribute to a remarkable
growth of the Europe Biodegradable Plastics Market in the forecast period,"
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based Global management consulting firm.
Europe Biodegradable
Plastics Market By Type (Starch-Based, Polylactic Acid
(PLA), Polybutylene Adipate Terephthalate (PBAT), Polybutylene Succinate (PBS),
Polyhydroxyalkonate (PHA), Others), By Application (Packaging,
Agriculture, Consumer Goods, Others), By Region, Competition, Forecast and
Opportunities, 2029 has evaluated the future growth potential of Europe
Biodegradable Plastics Market and provides statistics & information on
market size, structure, and future market growth. The report intends to provide
innovative market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Europe
Biodegradable Plastics Market.
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