Global Biodegradable Plastic Bags And Sacks Sales Will Increase To 141919 MT In 2024 From 114144 MT In 2016 With CAGR Of 2.76%
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Currently, there are several producing companies in the world biodegradable plastic bags and sacks industry. The main players are BioBag, Novolex, EnviGreen, BASF, Plastiroll and Sahachit, etc. The global sales of biodegradable plastic bags and sacks will increase to 141919 MT in 2024 from 114144 MT in 2016 with CAGR of 2.76%.
In consumption market, North America and Europe are the mainly consumption regions due to the bigger demand of downstream applications. In 2017, these two regions occupied 82.48% of the global consumption volume in total.
Biodegradable plastic bags and sacks has three types, which include polylactic acid (PLA), polyhydroxyalkanoate (PHA) and starch blends, etc. And each type has different applications relatively with different properties. With biodegradable effect of biodegradable plastic bags and sacks, the downstream application industries will need more biodegradable plastic bags and sacks products. So, biodegradable plastic bags and sacks has a huge market potential in the future.
The major raw material for biodegradable plastic bags and sacks is biodegradable polymer. Fluctuations in the price of the upstream product will impact on the production cost of biodegradable plastic bags and sacks. The production cost of biodegradable plastic bags and sacks is also an important factor which could impact the price of biodegradable plastic bags and sacks.
We tend to believe this industry is a rising industry, and the consumption increasing degree will show a smooth growth curve. And the price presents fluctuation according to the economy development status and international competition. Also, there is fluctuation in gross margin.