Oxo-biodegradable plastic packaging is made by adding bio-additive such as starch to conventional plastics such as polypropylene, polyethylene, and polystyrene during injection molding and extrusion process. Oxo-biodegradable plastic packaging products quickly fragment into smaller pieces, called micro-plastics. Generally, garbage bags, shopping bags, and other such products are made with oxo-biodegradable plastics.
MARKET DYNAMICS
Rising inclination towards environmental-friendly products is expected to boost the demand for oxo-biodegradable plastic packaging. Moreover, increasing demand from household for disposal of garbage is also expected to propel the market growth over the coming years. However, studies have shown that oxo-biodegradable plastics are neither recyclable nor compostable. This factor is expected to potentially hamper the market growth over the coming years.
MARKET SCOPE
The "Global Oxo-biodegradable Plastic Packaging Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a particular focus on the global market trend analysis. The report aims to provide an overview of the oxo-biodegradable plastic packaging market with detailed market segmentation based on material, product type, and end use. The global oxo-biodegradable plastic packaging market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading oxo-biodegradable plastic packaging market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global oxo-biodegradable plastic packaging market is segmented into material, product type, and end use. By material, the oxo-biodegradable plastic packaging market is classified into polypropylene, polyethylene, polystyrene, and others. By product type, the oxo-biodegradable plastic packaging market is classified into shopping bags, garbage bags, and others. By end use, the oxo-biodegradable plastic packaging market is classified into residential, industrial, and commercial.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It provides an overview and forecast of the global oxo-biodegradable plastic packaging market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 concerning five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America. The oxo-biodegradable plastic packaging market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally, along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the oxo-biodegradable plastic packaging market from both demand and supply side. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five regions, namely; North America, Europe, APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the oxo-biodegradable plastic packaging in these regions.
MARKET PLAYERS
The report covers vital developments in the oxo-biodegradable plastic packaging as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others, such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnerships & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from the luxury lipsticks are anticipated to witness lucrative growth opportunities in the future with the rising demand for luxury lipsticks in the global market. Below mentioned is the list of few companies engaged in the oxo-biodegradable plastic packaging market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the oxo-biodegradable plastic packaging market. Besides, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last three years, the critical development in the past five years.
- EPI Environmental Technologies Inc.
- Wells Plastics Ltd.
- Willow Ridge Plastics Inc.
- Symphony Polymers Private Limited.
- Newtrans USA Company
- Licton Industrial Corp.
- Mondi Group
- Cereplast Inc.
- NatureWorks LLC
- Biome Bioplastics