Bio-Based Polymers Market, By Type (Biodegradable Starch Blends, Polylactic Acid, Bio-polyethylene T

Published Date: | Report Code : MT2058828

X

The Global Bio-based Polymers Market is projected to reach USD 41.61 billion by 2028, growing at a CAGR of 13.5% during the forecast period.

Bio-Based Polymers MarketBio-based Polymers Market

Bio-based materials are derived from plants and are biodegradable. Similarly, bio-based polymers are also derived from plants such as corn, sugarcane, vegetable oil, soybeans or cellulose, and others. These polymers are also known as next-generation polymers, which are used to reduce the use of fossil fuels. Cellulose and starch were the initially invented bio-based polymers used in the textile, packaging construction, and other applications.

The global bio-based polymer market is expected to grow significantly during the forecast period due to an increase in demand for green chemicals across the globe. Furthermore, factors such as stringent regulatory policies on synthetic polymers consumption drive the development of the worldwide bio-based polymer industry. European Union has proximity to a large number of government regulatory bodies; therefore, synthetic polymers in Europe are witnessing sluggish growth rate and demand for bio-based polymers is rising significantly. Furthermore, favorable government initiatives toward bio-based polymers are expected to fuel the growth of bio-based polymers market. On the contrary, high prices associated with them are expected to restrain the growth of bio-based polymers market.

Based on type, the polyethylene segment is expected to dominate the bio-based polymers market during the forecast due to mass production as well as significant demand in end-use industries. With an increase in oil prices, microbial polyethylene (PE) or green polyethylene (PE) is now being manufactured by dehydration of ethanol that is produced from microbial fermentation. Therefore, demand for bio-based polyethylene is growing at a faster pace.

Bio-based Polymers Market

Bio-based Polymers Market

Based on the application, the packaging segment is expected to be the largest bio-based polymers market. These polymers exhibit excellent clarity and gloss, resistance to food fats/oils, and aroma barrier. Additionally, they also provide stiffness, twist retention, and printability to the packaging. Bio-based polymers are majorly used in fruit and vegetable packaging in the supermarkets, for bread bags and bakery boxes, bottles, envelopes and display carton windows, and shopping or carrier bags, among others. The bio-based polymer market for packaging is growing rapidly in the European and North American regions. The increasing intervention of FDA and related organizations, in terms of food safety, is largely promoting the usage of biodegradable and food grade plastics for beverage and snack consumption. The restaurant chains and food processing industries are increasingly adapting the biodegradable materials for food packaging. Consumer awareness is also rising rapidly, especially in the emerging economies, in terms of food safety, as some plastics are proven carcinogenic. The growth in developing regions, like Asia-Pacific, South America, and the Middle East, is expected to increase in the near future due to the improving food packaging standards of various food and safety organizations. Moreover, the higher ease of disposing of biodegradable polymers has further added to its growing demand from the packaging industry.

Western Europe is expected to dominate the global bio-based polymers market share. Public awareness and government initiatives in the region have supported the use of biodegradable polymers in carrier bags, food packaging, food services (cutlery, etc.), and organic waste caddy liners, among others. Various countries in the region have been focusing on offering more eco-friendly packaging. This has increased the demand for polylactic acid from the packaging sector. Currently, the packaging sector in the United Kingdom has annual sales of GBP 11 billion, and it employs more than 85,000 people. It represents about 3% of the United Kingdom’s manufacturing and is a major contributor to the country’s GDP. Non-United Kingdom-based companies own much of the country’s packaging industry. The growing need for small size packaging and the growing consumption habits with the change in lifestyles are anticipated to propel the demand for bio-based polymers over the forecast period.

Key Factors Impacting Growth of Bio-Based Polymers Market:

    • Increase in demand for green chemicals across the globe
    • Stringent regulatory policies on synthetic polymers consumption
    • Favorable government initiatives toward bio-based polymers
    • High prices associated with bio-based polymers

Key Developments:

    • In December 2017, BASF SE (Germany) started offering packaging made from biomass-balanced Styropor®.The Styropor MB used is the first on the market to produce EPS (expandable polystyrene) using the biomass equilibrium strategy of BASF. After special balancing, the TÜV SÜD-certified technique can be used at the beginning of the manufacturing phase to substitute the fossil resources required to produce Styropor completely with renewable resources.
    • In February 2018, Evonik (Germany) introduced an innovative bio-based transparent polyamide concept that unites safety, function, and design for children’s glasses

What Does This Report Provide?

This report provides a detailed understanding of the global bio-based polymers market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with a potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the bio-based polymers market.

Market Segmentation:

By Type:

    • Biodegradable Starch Blends
    • Polylactic Acid (PLA)
    • Bio-polyethylene Terephthalate (Bio-PET)
    • Polyhydroxyalkanoate (PHA)
    • Bio-polyethylene (Bio-PE)
    • Biodegradable Polyesters
    • Others

By Application:

    • Packaging
    • Textiles
    • Consumer Goods
    • Automotive & Transportation
    • Agriculture & Horticulture
    • Building & Construction
    • Electrical & Electronics
    • Others

By Region:

    • North America
      • By Country (US, Canada, Mexico)
      • By Type
      • By Application
    • Western Europe:
      • By Country (Germany, UK, France, Spain, Rest of Western Europe)
      • By Type
      • By Application
    • Eastern Europe:
      • By Country (Russia, Turkey, Rest of Eastern Europe)
      • By Type
      • By Application
    • Asia Pacific
      • By Country (China, Japan, India, Rest of Asia Pacific)
      • By Type
      • By Application
    • Middle East:
      • By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
      • By Type
      • By Application
    • Rest of the World
      • By Region (South America, Africa)
      • By Type
      • By Application

Companies Covered: Major Companies profiled in the report which are key players in the global bio-based polymers market BASF SE, DowDuPont, PTT Global Chemical Public Company Limited, Arkema Group, Corbion, Mitsubishi Chemical Holdings Corporation, Teijin Limited, Kuraray Co., Ltd., Toray Industries Inc., Bio-On, NovamontSpA, and Finasucre SA...

Historic Year

2016, 2017

Base Year

2018

Forecast Period

2019-2028 

CAGR % (2019-2028)

13.5%

Reasons to Buy This Report:

    • Market size estimation of the global bio-based polymers market on a regional and global basis.
    • The unique research design for bio-based polymers market size estimation and forecast.
    • Profiling of major companies operating in the bio-based polymers market with key developments.
    • Broad scope to cover all the possible segments helping every stakeholder in the market.

Customization:

We provide customization of the study to meet specific requirements:

    • By Segment
    • By Sub-segment
    • By Region/Country

For more information, contact: [email protected]

License Offering

Single User (PDF)

3850

Multi User (PDF)

5150

Enterprise User (PDF)

7650

Get Regional Report USD 2000 Only

Your personal details are secure. Privacy Policy

Buy Chapters of Sections

Avail customized purchase options to meet your exact research needs.

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities
Detailed Coverage

Detailed scope covering all the major segments in the market

Meticulous Data Validations

In line data validations to ensure data precision

Recommendations

Market recommendations supporting decision making processes

Analyst Support

Round the clock analyst support to resolve your queries

Free Customization

Up to 15% additional free customization to meet your specific requirements

15% Free Customization

Share your Requirements

Questions?  Speak to an Analyst

Your personal details are secure. Privacy Policy