Growing Environmental Concerns Changing the Dynamics of the Global Biodegradable Medical Plastics Market

Arkema Group, BASF SE, Corbion, Evonik Industries AG, and Koninklijke DSM N.V., among others, are the major players in the global market for biodegradable medical plastics.

As per the analysis by Expert Market Research, the global biodegradable medical plastics market is estimated to grow in the forecast period of 2022-2027 at a CAGR of 11.9%.

Plastics that can decompose into water, carbon dioxide, and biomass by the activity of living organisms, typically bacteria, are referred to as biodegradable plastics. They are, therefore, frequently manufactured employing renewable raw materials, microorganisms, petrochemicals, or a combination of all three.

The rising demand for biodegradable medical plastics from the healthcare industry for environment-friendly and sustainable products has positively influenced the suppliers. It has encouraged them to manufacture biodegradable medical plastics by utilising raw materials attained from plants, which is expected to aid the growth of the biodegradable medical plastics market. Further, it is feasible to reuse the waste produced during hemp processing to generate hemp-based biodegradable plastics. The demand for biodegradable medical plastics has fuelled as consumers are aiming to reduce the amount of plastic generated from the medical sector with growing environmental concerns.

Moreover, because of the changing consumer preference toward eco-friendly products, coupled with the rising usage of biodegradable plastics for packaging, the biodegradable medical plastics market is expected to boost over the coming years.

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Top 5 Global Biodegradable Medical Plastics Companies:

Arkema Group

Arkema Group is a speciality chemical and advanced materials company. The company provides biobased materials, adhesives, coatings, and composites, along with healthcare and sports equipment solutions. The company designs materials to address the ever-increasing demand for sustainable and innovative materials, propelled by the challenges of new energies along with technologies, the reduction of resources, mobility, and growing urbanisation.

BASF SE

BASF SE is a global leading chemical company. The company produces chemicals for a sustainable future. It aims at environmental protection along with social responsibility and economic success. With innovation and science, the company enables its customers to meet current as well as future needs of society.

Corbion

Corbion is a global market pioneer for lactic acid and its derivatives. The business is a leading supplier of emulsifiers, minerals, vitamins, and algal components along with blends of useful enzymes. They use their excellent knowledge of fermentation and other techniques to propose environmentally friendly approaches to food preservation, food production, human health, and global warming. The company prioritises performance, quality, innovation, and safety.

Evonik Industries AG

Evonik is among one of the global leading speciality chemicals companies. The company produces electric car batteries that perform better along with aircraft that are greener, 3D printers more efficient, and medications more effective. The broad variety of prospects expands from innovative and creative research through international management, all the way to production. The company is dedicated to offering the most comprehensive and flexible array of biodegradable materials and application services to the medical device sector.

Koninklijke DSM N.V.

A multinational corporation, Koninklijke DSM N.V. provides nutrition, health, and bioscience services with the goal of enhancing the wellbeing of people, animals, and the environment. The company aims to generate brighter lives for all. The company’s products, coupled with solutions, deliver solutions to some of the biggest challenges of the world while simultaneously producing environmental, societal, and economic value for all its stakeholders’ incorporating customers, shareholders, society at large as well as employees.

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.