Biodegradable Plastics Market size is predicted to reach USD 17.81 Billion by 2023

Recent Developments

Mitsubishi Chemical Corporation is a subsidiary company of Mitsubishi Chemical Holdings Corporation. It is a Japanese corporation, which merged with Mitsubishi Pharma Corporation to produce biodegradable products.

Mitsubishi Chemical Corporation had announced that decided to absorb its consolidated subsidiary, The Nippon Synthetic Chemical Industry Co., Ltd. (NSCI; Head office: Osaka-shi, Osaka; President: Katsumi Kimura) upto April 1, 2019

Mitsubishi Chemical Corporatiom announced that an LED-related patent shared by MCC, National Institute for Materials Science has been granted in the U.S. The patent is similar to the LEDs using a nitride-type red phosphor. On January 23, 2015, MCC filed a suit in the Shenzhen Intermediate People's Court alleging that produce of Shield infringed on the patents.

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Market Segmentations

Global Biodegradable Plastics Market worth was USD 10.81 Billion in 2018. It is expected to rise at a CAGR of 10.5% to reach USD 17.81 Billion by 2023.

Report is segmented by

Type           
Polylactic Acid
Polyhydroxyalkanoates
Polybutylene Succinate
Polycaprolactone
Starch-based
Regenerated Cellulose.
End users
Packaging
Textile
Agriculture
Injection Moulding

The biodegradable plastics market is expected to witness a much faster development in comparison to the plastics bundling market. The biodegradable plastics market is a fairly new market anyway; it has to first grab the current pace of the non-biodegradable plastic bundling market.

Geographical Segmentation:

Based on geography, the market is analyzed under many countries namely Asia-Pacific, North America, Europe, the Middle East and Africa, and South America. The European market is large the market by size and Asia-Pacific Biodegradable market is anticipated to grow at the most elevated. 

Key market players in the market are -

Mitsubishi Chemical Corporation
BIO-ON
Plantic
Natur -Tec India Private Limited.

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Scope of the report:

The report gives a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the current market dynamics and trends are discussed in detail at the product level. Further, the performance of the current market at the regional and country-level is measured and the prospects with high growth potential are identified and debated.

The key players in the industry are profiled providing insights on their financial performance, market position and the growth strategies. Comparative analysis on key strategically activities of the market players delineating the key developments like mergers and acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also gives a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.

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This release was published on openPR.