BIODEGRADABLE PLASTICS MARKET ANALYSIS

Market News

Global Biodegradable Plastics Market: Key Developments

• On April 2021, NatureWorks a manufactures of bio plastics announced a partnership with IMA Coffee. IMA coffee is involved in packaging designs and manufactures soft and hard pods machines, this partnership’s objective is to increase the market reach for high-performing compostable K-cup in North America.
• On 9 February 2022, Bioplastics International introduced water-soluble PVA. The material is developed to be used as a replacement to plastics. It can be used for manufacturing water-soluble PVA bags and packaging films. The material is being used in the healthcare sector for drug delivery systems, artificial organs, wound management, and contact lenses owing to its biodegradability, biocompatibility, and non-toxicity.
• On 25 January 2022, TerraVerdae Bioworks announced the acquisition of PolyFerm Canada. The acquisition main objective was to at enhance the company’s PHA technology portfolio. The acquisition allowed the company to develop advanced biodegradable bio plastic products to cater to the growing biodegradable plastics market demand for sustainable alternatives to products.
• On January 2022, Vikas Ecotech Limited announced an investment in environment-friendly Bio Plastics (PHA) technology. The company is also in the process of collaborating with Aurapha Private Ltd. for the manufacturing of biodegradable plastics. PHAs would be manufactured using renewable resources and will be bio-degradable in nature.