MARKET OVERVIEW:
dia degradable materials market is experiencing robust growth, propelled by increasing environmental consciousness and stringent government regulations against single-use plastics. The market has witnessed a compound annual growth rate (CAGR) of over 12% between 2019 and 2023, with food packaging emerging as the dominant application segment.
Recent bans on plastic carry bags below 120 microns have created significant opportunities for alternatives like polylactic acid (PLA) and polybutylene succinate (PBS). Major FMCG companies are committing to 100% recyclable or compostable packaging by 2025, further
MARKET INSIGHT & GROWTH DRIVERS:
2024 CAGR 2032
The market growth is driven by increasing environmental regulations against single-use plastics and rising consumer demand for sustainable materials. . USD 1.2 billion USD 3.1 billion 17.17%
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MARKET DYNAMICS
Stringent Environmental Regulations
Accelerate Demand for Sustainable Packaging Solutions
India's push towards sustainable development is accelerating the adoption of degradable materials, particularly in packaging. The government has implemented stringent regulations banning single-use plastics in multiple states, creating a direct demand for biodegradable alternatives. Recent policy initiatives like the Extended Producer Responsibility (EPR) framework mandate companies to incorporate eco-friendly packaging solutions, driving substantial market growth. The Indian biodegradable plastics market size is projected to expand significantly, supported by such regulatory
MARKET OPPORTUNITIES
The Indian agriculture industry offers tremendous growth opportunities with increasing adoption of biodegradable mulch films. These films enhance soil moisture retention and eliminate plastic contamination issues associated with conventional polyethylene films. Several state governments are subsidizing the transition to biodegradable agricultural films, creating a favorable market environment. With India's vast agricultural land area spanning over 155 million hectares, even modest penetration rates would translate to substantial market expansion.
COMPANY MISSION
Boron neutron capture therapy (BNCT) is emerging as a promising cancer treatment modality, particularly for difficult-to-treat tumors like glioblastoma. Japan has led clinical adoption with over 200 patients treated since 2020, while China and Europe are ramping up clinical trials. The precision targeting capability of boron-10, when irradiated with low-energy neutrons, minimizes damage to healthy tissues - a significant advantage over conventional radiotherapy. Pharmaceutical companies are investing in boron-containing drug development, with several boron-10 based compounds currently in Phase II/III trials for various oncology indications.
REGIONAL MARKET OUTLOOK
North America
The North American market is characterized by strong regulatory pressures and consumer demand for sustainable alternatives to conventional plastics. The U.S., which dominates regional consumption, is witnessing accelerated adoption due to policies like extended producer responsibility (EPR) frameworks and state-level bans on single-use plastics. Major manufacturers such as BASF and Teleflex have established production facilities to serve this growing segment. .
Europe
Europe stands at the forefront of the fossil-based biodegradable plastics market, driven by stringent EU directives like the Single-Use Plastics Ban and circular economy action plans. Germany and France account for over 45% of regional demand, with packaging and agriculture being key application areas. The presence of global players like Novamont and Corbion ensures a steady supply of compliant materials. However, the market faces headwinds from
COMPETITIVE LANDSCAPE
• BASF India Limited (Germany/India)
• NatureWorks LLC (U.S.)
• Total Corbion PLA (Netherlands/Thailand)
• Envigreen Biotech India Pvt. Ltd. (India)
These companies represent some of the major key players driving innovation and growth in the market, contributing significantly to global supply and competitive dynamics.
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