Asia-Pacific Marine Degradable Polymers For Fisheries Products Market - Industry Trends and Forecast to 2029

Market Analysis and Size

The marine degradable polymers for fisheries products widely covers the equipment and tool such as hooks, lines, sinkers and floats, fishing nets, rods, reels, spears and gaffs, and others. Degradable polymers are widely used in almost all industries for various applications in almost every industry.

These materials are used to make fishing nets to catch fish and reduce the possibility of ghost fishing. Data Bridge Market Research analyses that the marine degradable polymers for fisheries products market is expected to reach the value of USD 7,749.07 thousand by the year 2029, at a CAGR of 5.5% during the forecast period. " Polybutylene Succinate (PBS)" accounts for the most prominent material segment in the respective market owing to the rise in marine degradable polymers for fisheries products. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Market Definition

Degradable polymers are polymers that break down or decompose naturally by the bacterial decomposition process. These materials are eco-friendly and aim to reduce carbon footprint. Using these materials aims to reduce the plastic pollution in the sea and water fields which hamper the overall fish production market. These materials possess desirable properties, such as high chemical stability, moisture barrier, and thermoplastic characteristics. There are various materials of marine degradable polymers for fisheries products.

Regulatory Framework

• Sustainable Fisheries Act of 1996- This act promotes healthy habitats for commercial and recreational fisheries. It strengthens requirements to prevent overfishing and sets standards for fishery management plans to determine stock status. A 2002 update to Essential Fish Habitat (EFH) regulations allowed fishery management councils to designate Habitat Areas of Particular Concern, specific areas within EFH that have extremely important ecological functions and/or are especially vulnerable to degradation.

COVID-19 had a Minimal Impact on Asia-Pacific Marine Degradable Polymers for Fisheries Products Market

COVID-19 impacted various manufacturing industries in the year 2020-2021 as it led to the closure of workplaces, disruption of supply chains, and restrictions on transportation. However, no significant impact was noticed on the marine degradable polymers for fisheries products in Asia-Pacific operations and supply chain, as the import and export of vaccines and essential goods led to the increasing demand for marine degradable polymers for fisheries products. The growing awareness and governmental push for the research and development and introduction of eco-friendly and sustainable marine degradable polymers for fisheries products are increasing the growth of marine degradable polymers for fisheries products market.

Market Dynamics of the Asia-Pacific Marine Degradable Polymers For Fisheries Products Market Include:

Drivers

• Gaining popularity due to rising awareness towards implementation of low carbon foot

Low carbon footprint materials focus on the low content of carbon in them. The lower the carbon content, the less will be the rate of carbon footprint. The main cause of increased carbon footprint rate in ocean or water filed is plastic nets and fish catching equipment that remains in the water and harms the ecosystem of water. Awareness regarding the need for low carbon footprint materials is increasing where several initiatives such as using degradable nets and degradable fish catching equipment are used to catch fish is acting as a driver for the market.

• Growing fish demand in direct consumer

Several benefits for fish and sea creatures will create a demand for it across the globe. With growing stressful life and mental issues, the demand for fish as a pet is growing. Stressful life and negligence for health can contribute to heart health issues where consumption of fish will helps to lower heart issue risks. This will overall generate demand for fish and sea creatures across the globe and will help to grow the market.

• Increasing awareness about ghost fishing

Rising awareness about ghost fishing, problem detection, and its solution will promote a safe and healthy water ecosystem. Technological use to detect and solve the problem will encourage the increasing demand for healthy fishes and sea creatures. This will help to increase the demand for marine degradable polymers for the making of fisheries products.

• Shifting towards of growing phase out of single-use plastic

There have been initiatives in several countries towards the removal of the use of single use plastics utilized mostly for consumer goods in the stores. Governments all over the world have set up certain norms and regulations in order to ban plastic use as they cause a plethora of pollution and diseases. Thus, phasing out single use plastics for fishing gears and introducing degradable fishing gears is an important step toward environmental conservation bringing in the market at a rapid rate. This is expected to act as one of the major drivers for the market.

Opportunity

• Growing importance of bio-based polymers as a replacement for conventional counterparts

One of the major reasons for the disrupted water system is "ghost nets." These nets are considered as accidentally or intentionally lost, abandoned, or discarded in the marine environment. These abandoned nets entangle fish and other animals and have devastating effects on them and marine ecosystems. This issue created awareness among everyone, and many organizations are taking initiatives such as Innovative Fishing Gear for Oceans (INdIGO) to reduce this issue.

Restraints/Challenges

• Fluctuating climate dynamics

Most of the population consumes fish as food and keeps them as pets. Due to several health benefits of eating fish, people prefer to eat it. Keeping fish as pets relaxes the mind, increases concentration, and promotes a healthy heart. But climatic changes changing the temperature of water bodies result in depleting quality of fish and some dies impacting whole fish production and its trading. Thus climate changes hamper the temperature of water of sea water which results in the unstable health of marine creatures. Due to this, creatures suffer from bad health, and some die, resulting in a disrupted marine ecosystem. Thus, fluctuating climate dynamics may hinder the growth of the market.

• High cost associated with the manufacturing of biodegradable polymers

The price hike of raw materials hampers the company's business. It disturbs the overall financial flow of the manufacturers and their companies. Price hike results in low product and distribution. Sometimes due to price hikes, manufacturers opt for low-quality raw materials, which impacts their production and quality and results in hampering their business. Moreover, the prices of the products made with degradable materials are high than non-degradable materials. This is the major cause of the high demand for non-degradable products in the market as compared to degradable products. Thus, the high cost associated with manufacturing biodegradable polymers and their products is considered a challenge for the market.

This Asia-Pacific marine degradable polymers for fisheries products market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Asia-Pacific marine degradable polymers for fisheries products market, contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.

Asia-Pacific Marine Degradable Polymers for Fisheries Products Market Scope

Asia-Pacific marine degradable polymers for fisheries products market is segmented on the basis of product and material. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Material

• Polybutylene Succinate (PBS)
• Polybutylene Adipate Terephthalate (PBAT)

On the basis of material, the Asia-Pacific marine degradable polymers for fisheries products market is segmented into polybutylene succinate (PBS) and polybutylene adipate terephthalate (PBAT).

Product

• Gillnet
• Dollyrope
• Fishing Trap
• Bottom Trawl

On the basis of product, the Asia-Pacific marine degradable polymers for fisheries products market is segmented into gillnet, dollyrope, fishing trap, and bottom trawl.

Asia-Pacific Marine Degradable Polymers For Fisheries Products Market Regional Analysis/Insights

Asia-Pacific marine degradable polymers for fisheries products market is analyzed, and market size insights and trends are provided by country, product, and material, as referenced above.

The countries covered in the Asia-Pacific marine degradable polymers for fisheries products market report are Japan, China, South Korea, India, Singapore, Thailand, Indonesia, Malaysia, Philippines, Australia & New Zealand and Rest of Asia-Pacific.

China is expected to dominate the Asia-Pacific marine degradable polymers for fisheries products market due to rising awareness of the implementation of low carbon foot in the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as downstream and upstream value chain analysis, technical trends and porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Asia-Pacific Marine Degradable Polymers For Fisheries Products Market Share Analysis

The Asia-Pacific marine degradable polymers for fisheries products market competitive landscape provides details by a competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to Asia-Pacific marine degradable polymers for fisheries products market.

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