The "United States Biodegradable Plastics Market, Size, Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
United States Biodegradable Plastics Market is expected to reach US$ 2.18 Billion by 2028, with a CAGR of 13.68% during a forecast period of 2022-2028.
The plastics industry is changing. Biodegradable packaging has become an integral part of the global packaging market. The rising consumer awareness of biodegradable packaging has led to tremendous growth in the overall market.
Biodegradable materials can undergo biodegradation, a chemical process during which environmental microorganisms convert materials into natural substances such as carbon dioxide, water, compost. The method of biodegradation depends on the surrounding environmental conditions.
Developing a Low-Cost and Compostable Alternative to Single-Use Plastic
The United States bio plastics industry is on the rise, and it will continue to capture a more market share year after year. For instance, Coca-Cola has introduced a next-generation prototype bottle: 100% plant-based plastic (bPET), excluding cap and label, produced using technologies that are now ready to be commercially scaled across the industry. In addition, bio plastic manufacturers are designing new formulations that meet or exceed the performance standards of traditional plastics. These are the main factors that lead bio plastics will continue a meteoric rise in the plastics industry. As per this research report USA Biodegradable Plastics Industry has crossed the valuation of US$ 1.01 Billion in 2022.
Biodegradable Plastics: A leader in the eco-friendly economy in USA
Since plastics are a prominent material in modern manufacturing, they play an integral role in the switch to a circular economy. Bio plastics manufacturers have come up with several ideas and innovations in the plastics industry to turn into greener bio plastics products. The development of bio resin as an environmentally friendly substitute to polyurethane-based plastic is considered one of the crucial transformations towards a green future. For instance, New York, Boston, and Phoenix have started charging fees for bags below a certain level of thickness. Apart from this, the other USA cities that have also banned plastic bags are Los Angeles, Chicago, Seattle, San Francisco, Washington, Brownsville, and Portland.
Type Insights: Starch Blend Dominates the Segment
Based on type, the USA biodegradable plastics market is bifurcated as PBAT, PBS, PHA, PLA, starch blends, and others. The starch blend segment dominates the U.S. biodegradable plastic market. The PLA biodegradable plastics are also rapidly gaining momentum in their ground arena. The inexpensive cost of PLA (Polylactic Acid) compared to any other Product is a major driving factor for the segment.
Application Insights: Packaging Segment Holds the Largest Share
The United States of America's Biodegradable plastic market is bifurcated based on Applications in packaging, agriculture, consumer goods, and others. The packaging segment holds the largest share of the USA biodegradable plastic market. The adoption of PLA, a potentially recyclable material, is increasing in the biodegradable plastic rigid packaging market.
Flexible packaging solutions, including trays and films, are most suitable for packaging fresh fruits and vegetables as they allow a more extended shelf life. In the present scenario, packaging processes and materials are highly sophisticated and flexible to meet application and preservations requirements. In addition, the biodegradable plastic industry continuously works on enhancing barrier properties such as antimicrobial coating to improve food product preservation.
Companies Insight: What are the takeaways for investors?
Biodegradable are now proven products that consumers are starting to seek when purchasing and creating demand. Momentum is building, and output is on the verge of a dramatic uptick.
Key companies are pouring hefty funds into research & development to introduce novel biodegradable plastic products, which are strong and readily degradable in the natural environment.
On the basis of raw materials, the report has also been segmented into Raw Materials (List of Raw Materials - Starch Based, PLA (Polylactic Acid), PHA (Polyhydroxyalcanoates), PBS (Polybutylene succinate), PBAT (Polybutyleneadipate terephthalate), and Properties of Raw Materials.)
Type - United States Biodegradable Plastic Market
1. Starch Based
2. PLA (Polylactic Acid)
3. PHA (Polyhydroxyalcanoates)
4. PBS (Polybutylene succinate)
5. PBAT (Polybutyleneadipate terephthalate)
Application - United States Biodegradable Plastic Market
2. Consumer Goods
1. BASF AG
2. Dow Chemicals
4. Eastman Chemical Company
5. Green Dot Bioplastics
7. Toray Industries
For more information about this report visit https://www.researchandmarkets.com/r/hqgpwz-states?w=4
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