South & Central America Biodegradable Plastics Market

The South & Central America biodegradable plastics market is expected to grow from US$ 475.10 million in 2022 to US$ 1,202.82 million by 2028. It is estimated to grow at a CAGR of 16.7% from 2022 to 2028.

Implementation of Biodegradable Plastics in Biomedical Applications is Drive South & Central America Biodegradable Plastics Market

The packaging industry has been witnessing a significant growth of consumer preference towards sustainable packaging and growing use of biodegradable plastics to substitute fossil-fuel-based plastics. Sustainable packaging that is also known as green packaging that uses materials and manufacturing methods for the packaging of goods has a low impact on both energy consumption and environment. Currently, conventional plastic packaging is widely used in a range of applications, such as FMCG, food & beverages, pharmaceutical, and consumer goods. This increased use of plastic in various applications is responsible for the rise in plastic pollution. Therefore, reuse and recycling of plastic and plastic products are becoming foremost important for innovation and sustainability. Furthermore, conventional plastic is expected to become more expensive in the future with diminishing raw material sources. These factors provide a huge market potential for the adoption of the biodegradable plastic-based packaging products during the forecast period. The PLA and its copolymers are used in a wide range of applications of wound management like healing dental wounds, making surgical sutures and to prevent postoperative adhesions. PLA has also been implemented in the drug delivery system owing to its encapsulation capacity, low toxicity and biocompatibility. All these factors have been estimated to provide wide opportunities for the biodegradable plastics in the coming years.

South & Central America Biodegradable Plastics Market Overview

The biodegradable plastic market in South & Central America region is segmented into Brazil, Argentina, and the Rest of South & Central America. The growth in the region is attributed to increasing government initiatives and availability of cheap raw material. For instance, the Autonomous Government of the City of Buenos Aires, through its Ministry of Environment and Public Space prohibited plastic bags in 2017 and single use plastic straws in 2019 owing to rising environmental challenges and reduce the generation of waste. In addition, rising use of biodegradable plastic in various end use industries in the region has expected to propel the market growth in coming years. Technological advances, increased greenhouse gas emissions, and a greater focus on environmental sustainability and vehicle end life management are fueling the demand for biodegradable plastic in the agriculture industry. Utilizing biodegradable plastic in agriculture has multiple benefits, such as reducing the carbon footprint being generated on the planet since biodegradable plastics have the quality of degrading more quickly and naturally. Moreover, key biodegradable plastic market players in the region are likely to expand their market share by adopting product development and innovation strategies.

South & Central America Biodegradable Plastics Market Revenue and Forecast to 2028 (US$ Million)

South & Central America Biodegradable Plastics Strategic Insights

Strategic insights for the South & Central America Biodegradable Plastics provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

South & Central America Biodegradable Plastics Report Scope

South & Central America Biodegradable Plastics Regional Insights

The geographic scope of the South & Central America Biodegradable Plastics refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

South & Central America Biodegradable Plastics Market Segmentation 

The South & Central America biodegradable plastics market is segmented into type, end user, and country.

Based on type, the South & Central America biodegradable plastics market is segmented into PLA, PHA, starch blends, PBS, PBAT, and others. In 2022, the starch blends segment registered a largest share in the South & Central America biodegradable plastics market.

Based on end-user, the South & Central America biodegradable plastics market is segmented into packaging and bags, agriculture and horticulture, consumer goods, and others. In 2022, the packaging and bags segment registered a largest share in the South & Central America biodegradable plastics market.

Based on country, the South & Central America biodegradable plastics market is segmented into Brazil, Argentina, and the Rest of South & Central America. In 2022, the Rest of South & Central America segment registered a largest share in the South & Central America biodegradable plastics market.

BASF SE; FKuR Kunststoff GmbH; Mitsubishi Chemical Holdings Corp; Novamont SpA; TotalEnergies Corbion BV are the leading companies operating in the South & Central America biodegradable plastics market.