The global plastic market is expected to attain a valuation of USD 712 billion in 2023 and is projected to reach USD 1050 billion by 2033, expanding at a CAGR of 4% during the forecast period. The demand for plastic industry is surging across diverse industries, including food & beverage, consumer goods, automotive, and electrical & electronics. …
Tag Archives: Biobased Biodegradable Plastic Industry
Biobased Biodegradable Plastic Industry Anticipates Significant Growth: Expected to Reach US$ 13.6 Billion by 2033 with 10% CAGR
The biobased biodegradable plastic industry is expected to be valued at US$ 5.2 billion in 2023. The market is predicted to expand at a 10% CAGR from 2023 to 2033, reaching US$ 13.6 billion by 2033. Growing public awareness of plastic waste and its negative environmental impact has increased the popularity of biobased biodegradable polymers. Customers and companies are looking for sustainable options that decrease …