Plastic-eating Bacteria Market Size is valued at USD 238.46 Thousand in 2023 and is predicted to reach USD 722.75 Thousand by the year 2031 at a 15.1% CAGR during the forecast period for 2024-2031.
Plastic-eating bacteria are microorganisms capable of degrading plastics, offering a potential solution to mitigate plastic pollution. Discovered in environments such as waste dumps, these bacteria, like Ideonella sakaiensis, can break down specific types of plastics (e.g., PET) into less harmful substances.
The plastic-eating bacteria market is seeing expansion due to the rising investment in sustainability and environmental solutions. Furthermore, more and more trash is ending up in landfills and oceans, and the urgent need to find solutions is driving the plastic-eating bacteria business.
However, the market growth is hampered by the high-cost criteria for the safety and health of the plastic-eating bacteria market and the product's inability to prevent fog in environments with dramatic temperature fluctuations or high plastic-eating bacteria because research, development, and commercialization of related technologies can be quite expensive. There has to be a massive investment over a long period to isolate the correct bacterial strains, genetically modify them to degrade plastic more quickly and more thoroughly, scale production, and construct efficient waste processing facilities. Regulatory clearances add time and money to the already expensive research and testing process. The global market has been hit hard by the COVID-19 pandemic, and many manufacturers have had to close their doors to keep their employees safe from the virus. This has put a damper on the industry's growth prospects.
Competitive Landscape
Some Major Key Players In The Plastic-eating Bacteria Market:
- Carbios
- Pyrowave
- EREMA
- Sidel Group
- Novozymes
- Danimer Scientific
- BioLogiQ
- Tianjin GreenBio Materials
- Full Cycle Bioplastics
- Newlight Technologies.
- Other prominent players
Market Segmentation:
The plastic-eating bacteria market is segmented based on resin and application. The resin segment segmented into polyethylene terephthalate (PET), polyurethane (PUR), and others. By application, the market is segmented into landfills, oceans, lakes, ponds, and others (Land).
Based On The Resin, The Polyethylene Terephthalate (PET) Segment Is Accounted As A Major Contributor To The Plastic Eating Bacteria Market
The polyethylene terephthalate (PET) plastic-eating bacteria market is expected lead with a major global market share in 2022. Many carbonated beverage bottles are made from polyethylene terephthalate (PET) due to its many desirable properties, including its great strength and toughness, resistance to abrasion and heat, lack of creep at high temperatures, resistance to chemicals, and wonderful dimensional stability.
Ponds Segment To Witness Growth At A Rapid Rate.
The pond industry makes up the bulk of acrylic acid ester usage because it serves a variety of needs, including a place to reproduce, food, and shelter. If you want to attract local animals and provide them a place to rest, feed, and hide, you should plant some native plants in and around the water, especially in countries like the US, Germany, the UK, China, and India.
In The Region, The North American Plastic Eating Bacteria Market Holds A Significant Revenue Share.
The North American plastic-eating bacteria market is expected to register the most of the market revenue shares in the near future. It can be attributed to because this area has received substantial funding from the government for research and development. Another factor fueling the market's expansion is the existence of well-funded plastic producers and brand owners looking at eco-friendly options. In addition, Asia Pacific is estimated to grow rapidly in the global Plastic Eating Bacteria Market because of the use of microorganisms that consume plastic and the enforcement of strict regulations regarding waste management.
Recent Developments:
- In October 2023, Carbios and DSEC, announced their partnership to build the first PET recycling plant in the world. De Smet has been responsible for overseeing the project and providing comprehensive engineering, procurement support, and management of the CARBIOS partners to build the plant in Longlaville as per the agreement.
- In Jan 2023, Carbios and Novozymes enhanced their collaboration through a long-term exclusive strategic alliance to maintain global dominance in the biorecycling of PET.
Plastic-eating Bacteria Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 238.46 Thousand |
|
Revenue Forecast In 2031 |
USD 722.75 Thousand |
|
Growth Rate CAGR |
CAGR of 15.1 % from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Resin, Application |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
Carbios, Pyrowave, EREMA, Sidel Group, Novozymes, Danimer Scientific, BioLogiQ, Tianjin GreenBio Materials, Full Cycle Bioplastics, Newlight Technologies. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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