Latin America Biodegradable Plastics Market

Latin America Biodegradable Plastics Market Size 2028:

The Latin America Biodegradable Plastics market size was about USD 2.9 Billion in 2022. It is expected to rise at a CAGR of 8.8% to reach USD 4.1 Billion by 2028.

Plastics that break down in nature by the activity of microorganisms are known as biodegradable plastics. Halfway crude materials, for example, polylactic corrosive, polyhydroxyalkanoates, polybutylene succinate (PBS), polycaprolactone (PCL), starch, and recovered cellulose are utilized to produce biodegradable plastics. The manufacture of biodegradable plastics involves the fermentation of sugar to deliver polylactic corrosive (PLA) or polyhydroxyalkanoates (PHA), which is then changed over into biodegradable plastics. Biodegradable plastics require appropriate natural conditions to function effectively.

The biodegradable plastics market is expected to witness much faster growth in comparison to the plastics bundling market. The biodegradable plastics market is a moderately new market anyway; it has to first catch the current pace of the non-biodegradable plastic bundling market. The food packaging and beverage packaging market are relied upon to provide a significant push in driving the general biodegradable packaging market. Be that as it may, the absence of government initiatives, particularly in developed nations is relied upon to control the development of the market.

Market Segmentation:

On the basis of Type:

• Polylactic Acid

• Polyhydroxyalkanoates

• Polybutylene Succinate

• Polycaprolactone

• Starch-based

• Regenerated Cellulose.

On the basis of the Application:

•  Packaging

• Textile

• Agriculture

• Injection Moulding

• Others 

Regional Analysis:

• Brazil

• Chile

• Mexico

• Argentina

• Columbia

The Latin American Market has huge untapped potential due to cheap labor costs, developing economies, and increasing per capita spending with the ever-rising populace.

Major companies playing their trade in the Latin America Biodegradable Plastics Market include

• Mitsubishi Chemical Corporation

• Biome Bioplastics

• BIO-ON

• Nature Works LLC

• FKuR

• Corbion

• BASF SE

• Plantic

• Natur -Tec India Private Limited