The biodegradable plastics market in Europe is forecast to witness 12 percent compound growth during 2014-19, according to TechSci Research’s “Europe Biodegradable Plastics Market Forecast & Opportunities, 2019” report.
The growth in the market is being supported by a range of factors including increasing environmental awareness among consumers, strict implementation of environment friendly laws and growing research and development investments in the bioplastics sector by public as well as private sectors.
“The demand for biodegradable plastics is witnessing a significant rise from conventional end-user industries such as packaging, agriculture and textile,” said Karan Chechi, research director at TechSci Research. “Nevertheless, use of biodegradable plastics, especially in European countries, is also increasing in other niche segments such as medical implants and drug delivery systems.
“In orthopedics, biodegradable plastics are finding use in joint replacements, fracture fixation plates, bone defect fillers, artificial tendons, ligaments, bone cements, etc. Realizing the benefits offered by biodegradable plastics, several research studies are underway to improve the commercial viability of these niche applications.
“The future of biodegradable plastics in Europe is expected to be bright due to imposition of stringent laws mandating significant reduction in plastic bag consumption in the region over the next five years,” he added.