Global Biopolymers Market: Highlights
- The global biopolymers market is projected to grow at a CAGR of more than 15% between 2019 and 2027. Easy availability of raw materials for the production of biopolymers has been the primary driver of the global biopolymers market. Stringent regulations against plastic usage and carbon emissions are anticipated to boost the biopolymers market.
- Biopolymers are bio-degradable in nature and defined as the polymers which are found in or derived from living organisms. Biopolymers are synthesized from starch, sugar, natural fibers and other organic compounds in varying compositions to provide substitutes for conventional polymers.
- Biopolymers provide characteristics which assists in solving the problem of conventional polymer disposal. Biopolymers have distinct functions of storage of energy, cellular construction and preservation. Biopolymers can be renewed as they are carbon neutral and owe the property of sustainability.
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- Increase in awareness regarding environment protection has propelled the demand for sustainable packaging. Moreover, changing lifestyles is expected to fuel the demand of biopolymer based products.
- Factors such as technological advents and rise in investments in research and development of biopolymers are projected to be the growth opportunities for biopolymers market. However, high cost of biopolymer production technology hampers the growth of biopolymers market.
Global Biopolymers Market: Segmental Trends
- Biodegradable polyesters accounted-for the highest share of the market in 2018 while bio-PET segment anticipated for the fastest growth during the forecast period. Biodegradable polyesters are widely used in medicine and pharmaceutical technology such as for drug delivery systems, wound closure, surgical sutures, implants, and tissue engineering
- Bio-PET, bio-PE and PLA types are prominently used in packaging industry, owing to their resistance to oil-based products and sealing ability at lower temperatures.
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Global Biopolymers Market: Regional Highlights
- Europe held the largest share of the global biopolymers market in 2018. Growth in this region can be primarily attributed to increasing focus on sustainable packaging materials. High degree of environmental awareness and imposition of stringent government norms by European Union to boost environmental friendly products are the determinants responsible to drive the biopolymers European market.
- Asia Pacific is anticipated to be the fastest growing market for biopolymers during the forecast period. Rapid industrialization and changing behavioral patterns among consumers are elements accountable to drive the Asia Pacific Market.
- North America has significant share in the biopolymers market due to the strong presence of biopolymer manufacturers in this region. Expansions by key players such as BASF SE and Du Pont in the U.S. are estimated to boost the market in North America. Similarly, Middle East & Africa, and Latin America are also developing regions and expected to witness remarkable growth during the forecast period.
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Global Biopolymers Market: Competition Landscape
- Key players in the global biopolymers market are expected to benefit primarily from the investments in packaging, agriculture, and consumer goods industries. Prominent players in the biopolymers market include BASF SE, E.I.du Pont de Nemours and Company, FMC BioPolymer A.S., Plantic Technologies Ltd., Archer Daniels Midland Company, NatureWorks LLC, Novamont SpA, Danimer Scientific, Total Corbion, Galatea Bio Tech, among others.
- The competition is relatively high with an already established players dominating the market but there are few other small players who are actively participating in the market.
- High growth potential in the next few years is attracting new local and international players to the market
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