Global Biodegradable Films Market Analysis 2022
The Global Biodegradable Films Market is expected to reach $2.76 billion by 2028 growing at a CAGR of 11.6% from 2021 to 2028. Biodegradable films refer to plastics that are degraded by microorganisms into carbon dioxide (or methane), biomass under certain conditions, and water. These films can be used with various other similar fillers such as waste paper, wood flour, and lime and they could be used in various granulation sizes and colors to change the external appearance of the material. Biodegradable films eliminate the need for removal and disposal while alleviating the negative environmental impact and can provide benefits to plastic mulch.
Factors such as the growing awareness regarding plastic waste and its adverse impact on the environment, growing demand from the food packaging industry, and high demand from the agriculture & horticulture sector are driving the growth of the market. However, higher cost of biodegradable films compared to conventional plastic films is restraining the growth of the market.
Based on type, the starch blends segment is going to have a lucrative growth during the forecast period which can be attributed as starch blends are considered as excellent biodegradable fillers for their thermal stability property and for making minimal interference with the melt-flow properties of most materials. They can be used to reduce the cost and accelerate the biodegradation of composite materials.
The key vendors mentioned are Taghleef Industries, Walki Group Oy, Kingfa Sci. & Tech. Co., Ltd., BioBag Americas, Inc., BASF SE, Futamura Chemical Co. Ltd., Cortec Corporation, Bi-Ax International Inc., Clondalkin Group, Plascon Group, Polystar Plastics Ltd, Avery Dennison Corporation, Armando Alvares, British Polythene Industries PLC, AEP Industries Inc. and Barbier Group
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