Biodegradable Film Formers Market Size, Share, Growth, and Industry Analysis by Type (Oil-Based Film Former and Water-Based Film Former) By Application (Sun Care, Skin Care, Color Cosmetics and Others), Regional Insights, and Forecast From 2024 To 2031

Biodegradable Film Formers Market Report Overview

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The global biodegradable film formers market size was USD 30 million in 2022 and is expected to reach USD 294.61 million in 2031, exhibiting a CAGR of 28.7% during the forecast period.

The biodegradable film formers market refers to the industry that focuses on the production and distribution of film-forming materials that are biodegradable in nature. These materials are used in various applications such as packaging, agriculture, personal care products, and others.

Biodegradable film formers are substances that can form a thin film or coating when applied to a surface. They have the ability to break down naturally over time through the action of microorganisms, such as bacteria and fungi, into simpler compounds that do not harm the environment. This is in contrast to traditional film formers, which are often derived from non-renewable resources and can persist in the environment for a long time.

The demand for biodegradable film formers has been increasing in recent years due to growing environmental concerns and regulations related to plastic waste. Biodegradable films offer an eco-friendly alternative to conventional plastic films, as they can degrade without leaving behind harmful residues or contributing to pollution. They are often made from renewable resources such as plant-based polymers, starch, cellulose, or other biodegradable materials.

COVID-19 Impact: Supply Chain Disruptions to Limit the Market Demands

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre- pandemic levels once the pandemic is over.

The pandemic led to disruptions in global supply chains, including raw material sourcing and transportation. Many countries implemented lockdown measures and restrictions on international trade, causing delays and shortages of raw materials for biodegradable film formers. This disrupted the production and availability of these products. The economic slowdown caused by the pandemic led to reduced demand for various products, including biodegradable film formers. Industries such as packaging, cosmetics, and personal care, which are major consumers of biodegradable films, experienced a decline in demand due to closures of non-essential businesses and reduced consumer spending.

LATEST TRENDS

"Regulatory Support and Bans on Single-Use Plastics to Augment the Market Growth"

Growing demand for sustainable packaging: Increasing awareness about environmental concerns and the need to reduce plastic waste has led to a rise in demand for sustainable packaging solutions. Biodegradable film formers, which are derived from natural sources and can break down into non-toxic components, have gained popularity as alternatives to traditional plastic films. Companies are investing in research and development to create new and improved biodegradable film formers. They are exploring various materials such as plant-based polymers, starch blends, cellulose derivatives, and bio-based resins to enhance the performance and biodegradability of the films. Governments and regulatory bodies worldwide are implementing regulations and policies to reduce the consumption of single-use plastics. This has created a favorable environment for the biodegradable film formers market. Bans on plastic bags, straws, and other single-use items have prompted industries to adopt biodegradable alternatives.

Biodegradable Film Formers Market Segmentation

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• By Type Analysis

By type, market is segmented into oil-based film former and water-based film former. The oil-based film former type segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is classified into sun care, skin care, color cosmetics and others. The sun care segment will lead the global share through 2028.

DRIVING FACTORS

"Government Regulations and Policies to Push the Market"

Growing awareness and concern about environmental issues, such as plastic pollution and waste management, are driving the demand for biodegradable alternatives. Biodegradable film formers offer a more sustainable solution compared to conventional synthetic film formers, as they can break down naturally without leaving harmful residues. Governments worldwide are implementing stringent regulations and policies to reduce plastic waste and promote the use of biodegradable materials. These regulations create a favorable environment for the growth of the biodegradable film formers market, as companies and industries strive to comply with the sustainability requirements. Increasing consumer awareness about the environmental impact of plastics has led to a shift in consumer preferences towards eco-friendly products. Biodegradable film formers are gaining popularity among consumers who are looking for sustainable packaging materials in various industries, including food and beverages, personal care, and pharmaceuticals.

"Sustainable Packaging Initiatives to Boost the Market Demands"

Ongoing research and development efforts in the field of biodegradable materials have led to significant advancements in the formulation and properties of biodegradable film formers. Improved performance characteristics, such as strength, flexibility, and barrier properties, have expanded the application scope of these materials, further driving market growth. Many companies and industries are adopting sustainable packaging initiatives to meet their corporate social responsibility goals and cater to the growing demand for eco-friendly products. Biodegradable film formers play a vital role in sustainable packaging solutions, offering alternatives to traditional plastics and contributing to the reduction of carbon footprint.

RESTRAINING FACTORS

"Limited Availability of Raw Material to Slow the Market Growth "

The availability and consistent supply of raw materials for biodegradable film formers can be a challenge. Plant-based polymers, such as polylactic acid (PLA) or polyhydroxyalkanoates (PHA), often require specific crops or feedstocks, which may have limited production capacities. This limited availability can lead to fluctuations in raw material prices and supply chain disruptions.

Biodegradable Film Formers Market Regional Insights

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"North American Market to Grow Exponentially with the Forecasted Period"

North America has been at the forefront of the biodegradable film formers market. The region's stringent regulations on plastic waste management and the growing preference for eco-friendly products have driven the demand for biodegradable film formers. The United States and Canada have seen a surge in the adoption of biodegradable packaging in various industries, including food and beverage, cosmetics, and pharmaceuticals.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

LIST OF TOP BIODEGRADABLE FILM FORMERS COMPANIES

• INOLEX (U.S.)
• Covestro (Germany)
• Dow Inc. (U.S.)
• Roquette (France)
• Ashland (U.S.)
• Nouryon (Netherlands)
• Miyoshi Kasei (Japan)
• Surfatech Corp (U.S.)
• TC USA Inc (U.S.)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.