United States Biodegradable Plastics Market, Size, Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis
Renub Research's latest report, "United States Biodegradable Plastics Market, Size, Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis" the United States Biodegradable Plastics Market is estimated to reach US$ 2.18 billion by 2028. The United States is the richest developed country on Earth. The growing demand for greener and safer products is triggering innovations in the U.S. bio plastics industry. Biodegradable plastics are the type of plastics that undergo decomposition over some time under composting conditions. The global biodegradable plastics market accounts for less than 1% of the overall plastics market.
However, it is expected to proliferate over the next five years. One percent of the 360 million annually manufactured plastic tons can be listed as bio-plastics. The market for biodegradable plastic is growing in the U.S. due to increasing growth driven by continuous R&D activities, increased environmental awareness, and stringent environmental regulations. However, the high cost of biodegradable plastics has been a significant barrier to the market's growth.
New dried snacks & candy, bakery products, food packaging meat trays, and water & juice cups are widely used in packaging materials made from these bioplastics. In addition, biodegradable plastics are also used to coat the cup and as drink films & card collections.
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The two most important commercial, biodegradable polymers are polylactic acid (PLA) and starch-based polymers. The cost of making biodegradable plastics is relatively highly associated with traditional plastics. This is because most plants used to produce bioplastic are usually modified. Due to the intermediate steps, developing polylactic acid (PLA) is expensive.
Products designated "biodegradable plastics" can also be vague-new standards are being imposed. As of now, many biodegradable products are not indeed environmentally friendly-biodegradable can mean that in proper conditions, the product can be degraded by microbes with no set timetable. New standards will limit degradation time from 90 to 180 days.
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According to EPA (U.S. Environmental Protection Agency) in Feb 2022, the National Recycling Strategy in November 2021 reaffirmed the goal to increase the recycling rate to 50 percent by 2030 in the U.S. The Strategy identifies actions and strategic objectives needed to create a more resilient, stronger, and cost-effective U.S. municipal solid waste recycling system effective. Using renewables rather than fossil-based materials, they have an ecological advantage compared with traditional plastics regarding a smaller carbon footprint and reduced resource depletion. They also pledge the solution to the rapidly pressing problem of plastic waste on land and sea to the point that they will be biodegradable in natural environments.
PLA biodegradable plastics Market dominates the highest share
The PLA biodegradable plastics market dominate the highest percentage. PLA is known as eco-friendly plastics. Multiple process intermediate phases also involve metals and create waste. PLA is a bio-based and biodegradable polymer built from lactic acid molecules. It's made of renewable resources such as corn or sugar cane. Being a thermoplastic polyester, it softens when heated and hardens when cooled. It can be cooled and heated several times without changing its mechanical and chemical properties.
PLA has a lower production cost than conventional plastic materials but is still more expensive. Due to its flexibility and other technical properties, PLA can technically compete with traditional plastics and is therefore suitable for a wide range of applications, from single-used packaging to durable consumer goods. Additionally, Starch can decrease the carbon footprint of conventional resins because it can substitute petroleum-based polymers with natural ones. Starch-based plastics are highly degradable, allowing them to be used alongside a compostable polymer without hindering the degradation process.
Packaging segment holds the largest share of the USA biodegradable plastic market:-
A wide range of polymers is used or produced as bioplastics. Bioplastics have become more advanced in applications, such as manufacturing aerospace parts for extreme environments, beyond the initial plain packaging applications. This involved the invention of novel molecules, the combination of molecules, the quest for novel polymers, and eventually, efforts to produce petro-plastics similar to thermoplastics but using bio-based recycled raw materials; the packaging segment holds the largest share of the USA biodegradable plastic market.
Even achieving plastic's optimum mechanical properties for its purpose is another significant setback. It is a problem with food packaging, PET bottles, and plastics for general use, e.g., cages, dishes, cutlery, etc. Most polymers lack enough mechanical strength and functionality for particular electric and thermal conductivity applications. Thus, 95% of polymers combine composites with inorganic/organic additives. No one polymer generally has the necessary properties for some use. Still, the transformation of these polymers, mixture with polymers, and other substances to form an optimum composite has not been improved. These are much more important than petroleum plastics in the production of bioplastics.
Competitive Landscape:-
U.S. bio-degradable plastic market was divided into Analysis (BASF AG, Dow Chemicals, DuPont, Eastman Chemical Company, Green Dot Bioplastics, Novamont, Toray Industries, and Westrock)" provides a detailed industry analysis of Biodegradable Plastic Market in the United States.
Market Summary:-
- By Material Type:- The report covers Material type in 6 viewpoints( Starch Based, PLA( Polylactic Acid,)PHA( Polyhdroxyalcanotes), PBS( Polybutylene succinate), PBAT (Polybutyleneadipate terephthalate) and Others.)
- By Application Type:- The Report covers the U.S. Biodegradable Plastic Market by Material type in 4 viewpoints( Packaging, Consumer Goods, Agriculture, and Others)
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