MARKET OVERVIEW:
The global Plastarch Material (PSM) market size was valued at USD 897 million in 2023 and is projected to reach USD 1,313.53 million by 2030, growing at a CAGR of 5.60% during the forecast period.
North America accounted for USD 233.73 million in 2023, with an anticipated CAGR of 4.80% from 2024 to 2030. The increasing demand for biodegradable plastics, stringent government policies, and rising consumer awareness regarding sustainable materials are key factors driving market expansion..
MARKET INSIGHT & GROWTH DRIVERS:
The market growth is driven by increasing environmental regulations, corporate sustainability commitments, and consumer demand for eco-friendly packaging solutions.. USD 897 million USD 1,313.53 million 5.60%
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MARKET DYNAMICS
Stringent Environmental Regulations
Accelerating Adoption of Renewable Plastics
Environmental Concerns: Growing environmental awareness and the push to reduce plastic waste are key drivers for PSM adoption. Regulatory Support: Governments worldwide are implementing stringent regulations promoting biodegradable plastics.
Consumer Preference: Increasing consumer inclination towards sustainable packaging solutions fuels market demand.
Technological Advancements: Innovations in biodegradable polymer blends enhance PSM performance, making it suitable for diverse applications..
MARKET OPPORTUNITIES
Growing Packaging Industry: Increased demand for sustainable packaging solutions in food, beverages, and ecommerce presents new growth avenues.
R&D Investments: Ongoing research into enhanced PSM formulations offers opportunities for improved performance and broader applications. Corporate Sustainability Initiatives: Businesses are incorporating biodegradable materials to meet sustainability targets and improve brand perception.
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 region held USD 233.73 million of the global market in 2023.
Strong governmental regulations and consumer demand for sustainable materials fuel growth.
The U.S. leads the market due to its advanced waste management infrastructure and eco-friendly product policies. Europe
Europe enforces strict regulations on plastic use, driving demand for biodegradable alternatives like PSM.
Countries like Germany, France, and the UK are significant adopters of sustainable packaging solutions
COMPETITIVE LANDSCAPE
• • NatureWorks LLC
• • Novamont S.p.A
• • Biome Bioplastics
• • Plantic Technologies Ltd.
• • BASF SE
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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