Global Biopolymers Market is segmented By Material Type (Bio-PET, Starch Blends, Bio-PE, Poly Lactic Acid (PLA), Polyhydroxyalkanoate (PHA), PTT, Others), By Application (Packaging, Electronics, Agriculture, Textiles, Consumer Goods, Automotive, Construction ), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Size, Share Outlook, and Opportunity Analysis, 2022-2029
Biopolymer Market Growth Trends Analysis:
The Global Biopolymer Market is expected to grow at a CAGR of 19% during the forecasting period (2022-2029). Biopolymers are novel materials made of several monomeric units, which are covalently bonded to form a large structure. Raw materials required for the productions of biopolymers are naturally available which includes, starch, natural fibers, and other organic compounds, and are biodegradable.
Superior properties of biopolymers such as biocompatibility and biodegradability are propelling the growth of the market. The easy availability of feedstock for the production of biopolymers is propelling the growth of the global biopolymers market. High costs associated with the production of biopolymers and insufficient infrastructure is expected to impede the growth of the market. Key players are seen highly investing in research and developmental activities for product development and to widen the application area of biopolymers. This factor is again weighing in favor of the global market.
Stringent environmental regulations enacted by the government on the use of plastics for packaging. Increase in consumption of packaged foods in regions such as North America and Europe.
Scope of the report
- Based on the type, the global biopolymers market can be classified into Bio-PET, starch blends, bio-PE, PLA, PHA, PTT, and others. Among all the available biopolymers, biodegradable polyesters and bio-PET biopolymers are anticipated to occupy a significant market share.
- In terms of application, the market has been categorized into packaging, electronics, agriculture textiles, consumer goods, automotive, and construction.
- Geography-wise, the global biopolymer market can be classified into North America, South America, Europe, Asia Pacific, and RoW. Europe is anticipated to hold a major market share due to an increase in environmental awareness and stringent regulations enacted by REACH. North America is expected to hold a significant share in the overall market as the region is home to some key players active in the biopolymer market. Due to rapid industrialization and the rise in concerns related to plastic usage, the biopolymers market in the Asia Pacific is anticipated to grow at a higher rate.
Market Key Companies
- Some of the leading players active in the global biopolymer market are BASF SE, E.l.du Pont de Nemours and Company, Plantic Technologies, Archer Daniels Midland Company, NatureWorks LLC, and Novamont SpA among others. Key players in the biopolymers market are focussing on product development and geographical expansion. In order to achieve this, they are increasingly involved in acquisitions, tie-ups, and collaborations with various regional players and research organizations. For instance, Metabolix Inc. has sold its biopolymer IP domain and certain laboratory equipment to CJ CheilJedang Corp.
- Global Biopolymer Manufacturers
- Suppliers, Dealers, and Distributors of Biopolymers
- Industry Investors/Investment Bankers
- Research Organizations and Academia
- Emerging Companies
- Market Research and Consulting Firms
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