North America Biodegradable Plastic Market Statistics, Trends, Size, Share, Regional Analysis by Key Players

 


The North America biodegradable plastic market is accounted to US$ 806.9 Mn in 2018 and is expected to grow at a CAGR of 14.0% during the forecast period 2019 – 2027, to account to US$ 2,622.4 Mn by 2027.

U.S. is dominating the North America biodegradable plastic market followed by Canada. The market for biodegradable plastic is growing in U.S. due to increasing concerns by the consumers over the impact plastic products have on the environment. The manufacturers have come up with several innovations in the case of plastics to turn it up into greener products. The development of bioresin as an environmentally friendly substitute to polyurethane-based plastic is considered to be one of the important transformations towards the green future. North America Biodegradable Plastic Market New York City has also supported the bans on no-biodegradable plastics by imposing strict guidelines for recycling plastic bags. Also, cities like Boston and Phoenix, have started charging fees or banning bags below a certain level of thickness. North America Biodegradable Plastic Market Apart from this, the other cities which have banned the use of plastic bags in U.S. are Chicago Seattle, Los Angeles, Austin and San Francisco, Washington, Brownsville, and Portland.

📚 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲@ https://www.businessmarketinsights.com/sample/TIPRE00007052

North America Biodegradable Plastic Strategic Insights

North America Biodegradable Plastic Market Strategic insights for the North America Biodegradable Plastic provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. North America Biodegradable Plastic Market A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

📚𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭 𝐋𝐢𝐧𝐤 @ https://www.businessmarketinsights.com/reports/north-america-biodegradable-plastic-market

𝐓𝐡𝐞 𝐋𝐢𝐬𝐭 𝐨𝐟 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬

API SpA

BASF S.E.

FKuR Kunststoff GmbH

Green Dot Bioplastics

NatureWorks LLC.

Novamont S.p.A.

Kingfa Sci. & Tech. Co., Ltd.

Mitsubishi Chemical Corporation

North America Biodegradable Plastic Market: Current Trends and Future Outlook

North America Biodegradable Plastic Market The biodegradable plastic market in North America is gaining significant traction due to the growing awareness of environmental issues and the increased demand for sustainable alternatives to traditional petroleum-based plastics. North America Biodegradable Plastic Market Biodegradable plastics, made from renewable resources, decompose naturally through microbial action over time, thereby reducing the long-term environmental impact compared to conventional plastics that persist in landfills for centuries. This market, driven by legislative support, technological advancements, and shifting consumer preferences, is expected to experience robust growth in the coming years.

Market Overview

The biodegradable plastic market in North America is part of the global shift towards more sustainable materials. As awareness about the environmental harm caused by plastic waste grows, North America Biodegradable Plastic Market biodegradable plastics present a viable alternative to address the growing concerns of plastic pollution. In 2021, the North American biodegradable plastic market was valued at approximately USD 1.5 billion, and it is projected to grow at a compound annual growth rate (CAGR) of around 12% from 2022 to 2030.

North America Biodegradable Plastic Market This market consists primarily of two types of biodegradable plastics: bioplastics made from plant-based materials such as starch, polylactic acid (PLA), and polyhydroxyalkanoates (PHA), and biodegradable plastics derived from fossil fuels, like polybutylene succinate (PBS). Among these, PLA has gained significant market share, particularly in packaging applications, due to its versatility, biodegradability, and compostability.

Factors Driving the Market Growth

1. Environmental Concerns and Plastic Pollution

The increasing environmental awareness and growing concern over the negative impact of plastic waste on ecosystems and wildlife are key factors driving the demand for biodegradable plastics. Traditional plastics take hundreds of years to degrade, causing significant pollution in landfills, oceans, and other ecosystems. In contrast, biodegradable plastics can break down within a short period, reducing the environmental burden. This growing concern about plastic waste has encouraged both consumers and manufacturers to look for more sustainable alternatives.

2. Government Regulations and Policies

Governments across North America have recognized the need to address plastic pollution, and various regulations and policies have been introduced to promote the use of biodegradable plastics. For instance, in 2020, Canada introduced a ban on single-use plastics, including bags, straws, and cutlery, with plans to phase out other plastic products over time. Such government measures provide a favorable environment for the growth of the biodegradable plastics market.

In the U.S., several states have enacted legislation to limit plastic use and encourage the development of eco-friendly alternatives. For example, California has implemented regulations that restrict the use of non-recyclable plastics, while New York has passed laws banning single-use plastic bags. These regulatory frameworks are pushing manufacturers to develop biodegradable plastic products that comply with the new laws.

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications

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