- In November 2024, Toray Industries, Inc. signed a memorandum of understanding with PTT Global Chemical Public Company Limited (GC) to explore mass production technology for adipic acid derived from non-edible biomass. This partnership aims to evaluate the feasibility of large-scale production in Thailand and Japan, with a target of producing several thousand metric tons of bio-based muconic and adipic acid annually by 2030
- In November 2024, BASF SE introduced an innovative midsole technology called CircleCELL in collaboration with Mount to Coast, a specialist in ultrarunning footwear. The CircleCELL midsole, made from BASF’s biomass-balanced ecoflex BMB biopolymer, offers 90% greater durability than traditional materials such as polyether block amide (PEBA) while maintaining high energy return, promoting both performance and sustainability
- In September 2024, Danimer Scientific and Ningbo Homelink Eco-iTech launched a home compostable extrusion coating biopolymer branded as Nodax. This PHA-based biopolymer is designed as a liquid barrier for paper cups, providing an eco-friendly alternative to traditional polyethylene coatings
- In April 2024, NatureWorks LLC partnered with IMA Coffee to introduce a turn-key compostable coffee pod solution for Keurig brewers in North America. This collaboration, which started in April 2021, combines NatureWorks’ expertise in Ingeo PLA biopolymer with IMA Coffee’s packaging technology to create a sustainable solution that maintains coffee’s taste and aroma
- In March 2024, Beyond Plastic announced a collaboration with CJ Biomaterials to produce biodegradable plastic-based bottle caps. Made from polyhydroxyalkanoate (PHA), a biopolymer derived from natural sources, this bottle cap enhances the functional properties of traditional plastics while offering environmental benefits
- In February 2024, Balrampur Chini Mills Ltd invested USD 267 million (INR 2,000 crore) in bioplastics and is setting up a PLA plant with a production capacity of 75,000 tons per annum
Frequently Asked Questions
The market is segmented based on Segmentation, By Product Type (Polylactic Acid (PLA), Starch Blends, Biodegradable Polyesters, Polyhydroxyalkanoates (PHA), and Others), Application (Packaging and Bags, Consumer Goods, Agriculture and Horticulture, Textile, and Others) - Industry Trends and Forecast to 2032
.
The Global Biodegradable Plastics Market size was valued at USD 24.82 USD Billion in 2024.
The Global Biodegradable Plastics Market is projected to grow at a CAGR of 19.11% during the forecast period of 2025 to 2032.
The major players operating in the market include BASF, NatureWorks LLC, TotalEnergies, Novamont S.p.A., FkuR.
The market report covers data from the North America.
