Starch-Blended Biodegradable Polymer Market is Expected to Reach $3.4 Billion by 2030-Allied Market Research

According to a new report published by Allied Market Research, titled," Starch-Blended Biodegradable Polymer Market by application: global opportunity analysis and industry forecast, 2021-2030," the global starch-blended biodegradable polymer market size was valued at $1.5 billion in 2020, and is projected to reach $3.4 billion by 2030, growing at a CAGR of 8.2% from 2021 to 2030.

Starch-blended biodegradable polymers are made by mixing water and glycerin with starch, low-density polyethylene, and ethylene-acrylic acid copolymer (EAA). Physical mixing or chemical alterations are used to create these polymers. They are crystalline in nature, and, when used for their original function, can be broken down into natural by-products such as water, biomass, gases (CO2 and N2), and inorganic salts. The biodegradable nature of starch and the physical features of synthetic polymers distinguish them. These eco-friendly polymers are available at affordable prices due to which they are widely replacing petrochemical- and synthetic-based polymers across numerous industry verticals.

Increase in the use of these polymers in a myriad of industries, such as food, packaging, and agriculture, is driving the global starch-blended biodegradable polymer market. Owing to their capacity to prolong the shelf life, they are widely employed in edible films and food packaging, thus decreasing food spoilage and keeping them fresh. Mulch films, greenhouse coverings, and controlled release fertilizer material are all used in the agricultural sector. Moreover, these polymers are important in the realm of medicine for medication delivery and bone tissue engineering. In addition, increase in usage of biodegradable plastics in packaging and shift in consumer preference toward environment-friendly plastic products are some of the major factors anticipated to propel the demand for starch-blended biodegradable plastics. Furthermore, starch-blended biodegradable polymers are environment-friendly and readily available at lower prices as opposed to their petrochemical counterparts. These factors are expected to create a positive impact on the market in the upcoming years. 

The global starch-blended biodegradable polymer market is segmented into application and region. On the basis of application, the market is fragmented into packaging & bags, consumer durables, agriculture & horticulture, textiles, and others. The packaging & bags segment garnered the largest share, owing to rise in utilization of biodegradable plastics majorly in food packaging. 

Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific garnered the largest share, owing to the growing economies of southeast Asia, growing disposable income, easy availability of raw materials used to manufacture biodegradable plastics, and rising population.

The major companies profiled in this report include BASF SE, Corbion N.V., Danimer scientific, Green Dot Bioplastics, Inc., Kuraray Co., ltd., Mitsubishi Chemical Holdings, Novamont, PTT Global Chemical Company Limited, The Dow Inc., and Wuhan Huali Biomaterial Co., Ltd. These players have adopted strategies such as product launch and business expansion to sustain the competition and to strengthen their foothold in the market. 

Key findings of the study

• Region wise, Asia-Pacific is projected to grow at the highest CAGR of nearly 8.6%, in terms of revenue, during the forecast period.
• On the basis of application, the packaging & bags segment accounted for the largest market share in 2020.

Impact of COVID-19 on the global starch blended biodegradable polymer market

COVID-19 is an infectious disease that originated in Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from humans to humans. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020. 

Prior to COVID-19 breakdown, a large number of multinationals such as Danone, Coca-Cola and Nestlé promised to adopt biodegradable plastics under pressure from activists and consumers. However, after COVID-19 outbreak governments across different countries made several changes in their regulations regarding disposable and single-use plastics to prevent further spread of the virus. For instance, the State of Maine postponed its ban on plastic bags until January 2021, thus negatively impacting the market growth. In addition, supply chain disruptions due to irregular transport lead to increasing lead time of raw materials, such as corn starch, thus delaying the entire product process. For instance, according to a report by business standard, the corn starch consumption has reduced by 50% from 400,000 tons to 200,000 tons.