Biodegradable Plastics Market Size & Share Demand Rising at 13% CAGR
Increasing environmental problems caused by plastic use, consisting of toxic pollutants that are harmful to crops, animals, and humans, are driving the use of biodegradable plastics. Floating plastic waste that can withstand thousands of years in water will lead to growth in the market. L The demand for this sector is driven by strict rules by a number of federal and government bodies to eliminate plastic waste and encourage the use of biodegradable plastics. The Green Packaging Regulations are that the packaging industry and the various FMCG companies need to accept biodegradable packaging in order to meet the requirements of this sector, which are in effect driving their growth.
PLA is the largest class of the biodegradable plastics industry as it is used in many end-use industries, such as packaging & bags, and consumer products. PLA is organic and biodegradable, which makes PLA non-toxic and environmentally friendly. Degradation of plastic products may take up to 1,000 years, while PLA materials may biodegrade in industrial composting within 3–6 months. It has excellent rigidity and makes it possible to replace polystyrene and PET in these applications. PLA is quickly adopted as the production of PLA is cheaper than the synthesis of other biodegradable plastics that drives the market growth.
The use of biodegradable plastics is motivated by growing environmental problems caused by the use of plastics consisting of toxic pollutants that are harmful to crops, animals, and humans. Floating plastic waste that can withstand water for thousands of years can contribute to the growth of the market. The demands of this sector are driven by strict regulations on plastic waste management and biodegradable plastics by a number of federal and government agencies.