Growing Preference of Ecofriendly Products Driving Global Biopolymers Market

Plastics and polymers are at the backbone of coating and packaging applications that is utilized by a number of end use industries, but since these materials are produced by processing fossil fuels, water management and environmental concerns regarding carbon footprint is escalating. As a result, biopolymers are developed, which are degradable when subjected to heat and moisture and are made from waste starch, biomass, and other renewable feed stock. Owing to the prosperity of various end-use industries and growing environment concerns, the market for biopolymers is flourishing. A recent business and commerce study by Transparency Market Research (TMR) has projected that the demand in the global biopolymers market will increment at an impressive CAGR of 14.0% during the forecast period of 2017 to 2025. The report has evaluated that the biopolymers market, across the world, held opportunities worth US$2,422.1 mn in 2016 and estimates it to reach a valuation of US$7,774.7 mn by 2025.

Which factors will favor or obstruct the market’s prosperity?

Some of the key factors augmenting the demand in the global biopolymers market are: increasing focus on bio-based content ahead of biodegradable content, favorable government policies and regulations to promote ecofriendly products, and increasing concern of human health and increased preference among consumers for eco-friendly packaging. On the other hand, cost-effectiveness of conventional plastic over bioplastics, complexity in adopting biopolymers over synthetic polymers, and performance issues are challenging the market for biopolymers from attaining its true potential. Nevertheless, the vendors operating in this market will gain new opportunities from increasing acceptance in Asian countries, development of new applications, development of sustainable production, surge in global plastic bottle production, and gradual shift of the automotive manufacturers towards biopolymers.


Which market segments are promising greater profits in the near future?


Based on product type, the market for biopolymers gains maximum demand for bio-PET, bio-PE, and biodegradable polyesters, significantly more than other segments including biodegradable starch blends, PLA, PTT, PHA, and others. Application-wise, while textiles, consumer goods, agriculture, automotive, electronics, and construction, packaging continues to be the primary application and is anticipated to remain so throughout the forecast period.

Which region is serving maximum demand for biopolymers?

Currently, Europe is the most lucrative region for the vendors operating in the global biopolymers market, with the demand projected to increment at a CAGR of 13.78% during the said forecast period. By the end of 2025, Europe biopolymers market is estimated to be worth US$3,082.38 mn. That being said, Asia Pacific is anticipated to turn into a highly profitable region towards the end of the forecast period, owing to rapid industrialization along with changing lifestyle and increasing disposable income of urban populations in India and China. North America will continue to account for a substantial share of the demand, albeit the growth rate would be moderate.

What is the nature of competition among the market leaders?

The global biopolymers market is moderately consolidated in nature with a handful of vendors holding majority shares. Some of the prominent vendors are E.l.du Pont de Nemours and Company, BASF SE, FMC Biopolymer A.S., Archer Daniels Midland Company, Plantic Technologies Ltd., NatureWorks LLC, Danimer Scientific, Novamont SpA, Total Corbion, and Galatea Bio Tech. 

0 comments:

Post a Comment

Note: only a member of this blog may post a comment.

Latest Post

Market Research Reports