Global Biodegradable Plastic Additives Market Insights Forecasts to 2033

• The Global Biodegradable Plastic Additives Market Size was Estimated at USD 1.38 Billion in 2023
• The Market Size is Expected to Grow at a CAGR of around 8.04% from 2023 to 2033
• The Worldwide Biodegradable Plastic Additives Market Size is Expected to Reach USD 2.99 Billion by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

The Global Biodegradable Plastic Additives Market Size is anticipated to exceed USD 2.99 Billion by 2033, Growing at a CAGR of 8.04% from 2023 to 2033. The integration of biodegradable additives with bioplastics, implementation of biodegradability standards for single-use plastics, and increased emphasis on food safety and non-toxicity are driving the market for biodegradable plastic additives.

Market Overview

The biodegradable plastic additives market refers to the industry making additives that aid in the natural breakdown of plastics. Biodegradable plastic additives are degradation initiator chemicals that speed up the breakdown of plastics into compost or soil. They can be added to conventional plastics to make them degrade more quickly after disposal. These additions include substances like polylactic acid (PLA), polyhydroxyalkanoates (PHA), and starch-based polymers. The critical issue of plastic pollution may be resolved with the help of biodegradable plastic additives. Businesses can create eco-friendly items that lessen the impact of plastic waste on the environment by implementing these additives into the manufacturing process. Government incentives and subsidies including tax rebates and grants for encouraging the development of eco-friendly alternatives, offering biodegradable plastic additives market growth opportunities. 

Report Coverage

This research report categorizes the biodegradable plastic additives market based on various segments and regions forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the biodegradable plastic additives market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the biodegradable plastic additives market.

Driving Factors

The increasing focus on the safety and non-toxicity of plastic in food packaging and consumer goods is driving the biodegradable plastic additives market. The incorporation of ecologically friendly additives that provide a healthier option over conventional plastics is propelling the market growth for biodegradable plastic additives. The increasing threat of various ill effects associated with pollution that leads to a surging need for sustainable alternatives for managing plastic pollution is propelling the biodegradable plastic additives market.

Restraining Factors

The lack of established supply chains and competition posed by fossil-based alternatives that are more accessible and affordable are challenging the biodegradable plastic additives market.

Market Segmentation

The biodegradable plastic additives market share is classified into chemistry type and application.

• The bio-based aromatic segment dominates the biodegradable plastic additives market and is expected to witness the fastest CAGR growth during the forecast period.

Based on the chemistry type, the biodegradable plastic additives market is classified into bio-based aromatic and bio-based non-aromatic. Among these, the bio-based aromatic segment dominates the biodegradable plastic additives market and is expected to witness the fastest CAGR growth during the forecast period. It is a chemical compound derived from renewable biomass sources like plants added to plastics to enhance their biodegradability while containing aromatic rings within its molecular structure. The increasing preference for economic and environmental sustainability is contributing to propelling the biodegradable plastic additives market.

• The plasticizers segment dominated the market with the largest revenue share of 51.50% in 2023 and is anticipated to register significant CAGR growth during the forecast period.

Based on the application, the biodegradable plastic additives market is classified into plasticizers, flame retardants, impact modifiers, antioxidants, antimicrobials, UV stabilizers, and others. Among these, the plasticizers segment dominated the market with the largest revenue share of 51.50% in 2023 and is anticipated to register significant CAGR growth during the forecast period. Biodegradable plastic additives are used as plasticizers to improve the flexibility of plastics and reduce their environmental impact. The rising need for flexible and eco-friendly alternatives to conventional plastic materials is driving the market demand.

Regional Segment Analysis of the Biodegradable Plastic Additives Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Europe is anticipated to hold the largest share of the biodegradable plastic additives market over the predicted timeframe.

Europe is anticipated to hold the largest share of the biodegradable plastic additives market over the predicted timeframe. The stringent environmental regulations about plastic waste via single-use plastics directive fostering advanced sustainability market are contributing to driving the biodegradable plastic additives market. The region’s robust investment in R&D has catalyzed technological advancements for the development of biodegradable additives which are propelling the regional market growth.

Asia Pacific is expected to grow at the fastest CAGR growth of the biodegradable plastic additives market during the forecast period. The increasing government regulations aimed at curbing plastic waste, particularly in China and India are propelling the market for biodegradable plastic additives. The need for additives and other biodegradable solutions owing to the environmental issues caused by plastic pollution is driving the market demand.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the biodegradable plastic additives market along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• DIC Corporation
• Cargill Inc.
• ADEKA Corporation
• Avient Corporation
• BASF
• Croda International Plc.
• Stora Enso
• UPM-Kymmene OYJ
• Clariant AG
• Emery Oleochemicals
• Greenchemicals S.r.l.
• Dow
• Evonik Industries AG
• LANXESS
• Solvay
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In March 2024, Baerlocher USA, part of the Baerlocher Group, a leading global supplier of plastics additives, and Innoleics, a U.S. innovator in bio-based plasticizers, announced a new partnership agreement. Under the terms of the deal, Baerlocher USA distributes Innoleics' full line of bio-based plasticizers for flexible polyvinyl chloride (PVC) applications to the U.S. market, providing customers with greater access to these innovative, sustainable materials.

• In September 2023, BASF announced the launch of the industry’s first biomass balance offerings for plastic additives. The initial offerings, including Irganox 1010 BMBcert and Irganox 1076 FD BMBcert, are certified by TÜV Nord for mass balance according to the International Sustainability and Carbon Certification (ISCC PLUS).

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the biodegradable plastic additives market based on the below-mentioned segments:

Global Biodegradable Plastic Additives Market, By Chemistry Type

• Bio-Based Aromatic
• Bio-Based Non-Aromatic

Global Biodegradable Plastic Additives Market, By Application     

• Plasticizers
• Flame Retardants
• Impact Modifiers
• Antioxidants
• Antimicrobials
• UV Stabilizers
• Others

Global Biodegradable Plastic Additives Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa