NEW YORK, Oct. 18, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape - The Global Biopolymers Market size is estimated to grow by USD 17.11 trillion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of about 10.52% during the forecast period. Volatility in crude oil prices is driving market growth, with a trend towards increasing preference for eco-friendly packaging. However, cost-effectiveness of conventional plastics over biopolymers poses a challenge - Key market players include Archer Daniels Midland Co., Arkema Group., BASF SE, Biome Technologies plc, Braskem SA, Danimer Scientific Inc., DuPont de Nemours Inc., Eastman Chemical Co., Evonik Industries AG, Galatea Bio Tech Srl, KURARAY Co. Ltd., Merck KGaA, Mitsubishi Chemical Corp., NatureWorks LLC, Novamont S.p.A., Rodenburg Biopolymers B.V., Solanyl Biopolymers Inc., Toray Industries Inc., TotalEnergies Corbion bv, and Yield10 Bioscience Inc.
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Forecast period |
2024-2028 |
Base Year |
2023 |
Historic Data |
2018 - 2022 |
Segment Covered |
Type (PLA, Bio-PE, Bio-PET, PHA, and Others), End-user (Packaging and food services sector, Agriculture and horticulture, Consumer goods, Automotive, and Others), and Geography (Europe, North America, APAC, Middle East and Africa, and South America) |
Region Covered |
Europe, North America, APAC, Middle East and Africa, and South America |
Key companies profiled |
Archer Daniels Midland Co., Arkema Group., BASF SE, Biome Technologies plc, Braskem SA, Danimer Scientific Inc., DuPont de Nemours Inc., Eastman Chemical Co., Evonik Industries AG, Galatea Bio Tech Srl, KURARAY Co. Ltd., Merck KGaA, Mitsubishi Chemical Corp., NatureWorks LLC, Novamont S.p.A., Rodenburg Biopolymers B.V., Solanyl Biopolymers Inc., Toray Industries Inc., TotalEnergies Corbion bv, and Yield10 Bioscience Inc. |
Key Market Trends Fueling Growth
The global biopolymers market is poised for growth due to increasing regulations against plastic use and rising consumer preference for eco-friendly alternatives. The European Commission's proposed rules to ban ten single-use plastic products and fishing gear aim to reduce marine litter, which constitutes 70% of all marine pollution. The EU's ban on microplastics is a significant step towards environmental protection. Population growth in densely populated countries like India and China, with populations of 1.36 billion and 1.40 billion respectively in 2019, will lead to increased plastic packaging waste. In response, vendors are introducing more green packaging labels to cater to consumer demand for sustainable products. Bioplastics, a key component of the biopolymers market, are gaining acceptance as a viable alternative to traditional plastics. These factors will drive the growth of the global biopolymers market during the forecast period.
Biopolymers, also known as bioplastics, are eco-friendly alternatives to traditional petroleum-based plastics. The market for biopolymers is trending due to increasing demand for PHA-based environmental plastics and biodegradable products. These materials are used in various sectors including food, biomedical, and single-use plastic packaging. Key players in the market include Polylactic acid (PLA), Polyhydroxyalkanoate (PHA), Biodegradable Polyesters like Bio PE, Bio PET, Mater Bi, and Origo Bi. Raw materials for biopolymers include renewable resources such as rice, wood, and methanova (methylcellulose). The market is driven by the circular economy and the need for carbon neutral and eco-friendly products. Biopolymers are used in various applications such as medical implants, pharmaceuticals, skin care products, and automotive sector. The bottle segment, films, fibers, seed coating, vehicle components, agriculture, construction, and medical equipment are major end-use industries. Recycling rates for biopolymers are increasing, reducing the carbon footprint and environmental impact. The market is expected to grow in the coming years as more companies adopt sustainable practices and consumers demand eco-friendly alternatives to petroleum-based plastics.
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Market Challenges
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Segment Overview
This biopolymers market report extensively covers market segmentation by
1.1 PLA- PLA, or polylactic acid, is a widely adopted biodegradable polyester derived from lactic acid, a product of glucose metabolism. It can be produced using renewable or non-renewable sources. Through chemical polymerization, lactic acid forms PLA copolymer, a versatile biopolymer. PLA's primary applications include packaging, textiles, hygiene products, agriculture, and insulation. Its water-resistant property and natural degradation in the environment make it an attractive alternative to conventional plastics. The packaging sector dominates PLA's market due to its eco-friendly attributes. PLA's degradation time in the ocean is significantly less than conventional plastics, making it an environmentally friendly choice. This property, along with its versatility, is expected to drive PLA demand and boost the global biopolymers market growth during the forecast period.
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Research Analysis
Biopolymers, also known as bioplastics, are eco-friendly alternatives to traditional petroleum-based plastics. These biodegradable polymers are derived from renewable raw materials such as sugarcane, corn, wood, and standing timber. Biopolymers have gained significant attention due to their lower carbon footprint and environmental impact. The market for biopolymers is expanding rapidly in various sectors including biomedical, food, and recycling. In the biomedical sector, biodegradable polyesters like Polylactic Acid (PLA) and Polyhydroxyalkanoate (PHA) are used for medical implants and pharmaceutical applications due to their biocompatibility. In the food industry, biopolymers are used as packaging materials and in the production of eco-friendly food containers. In the automotive sector, biopolymers are used in the bottle segment to reduce the carbon footprint of plastic bottles. In the cosmetic industry, rice-derived biopolymers like Verdessence RiceTouch are used as matte-finishing agents and cosmetic ingredients. Methanova (methylcellulose) and Bio PE are other types of biopolymers used in various industries. The care creation business is also embracing biopolymers for the production of moldable plastic and Bio Polymers, Bio PET, and Mater Bi are some of the leading biopolymer companies.
Market Research Overview
Biopolymers, also known as bioplastics, are eco-friendly alternatives to traditional petroleum-based plastics. These sustainable materials are derived from renewable resources such as corn, sugarcane, and even rice. One type of biopolymer gaining attention is PHA-based environmental plastics, which are biodegradable and offer similar properties to oil-based plastics. Biopolymers find extensive applications in various sectors including biomedical, food, and single-use plastic packaging. In the biomedical field, they are used for medical implants, pharmaceuticals, and drug delivery systems. The food industry utilizes biopolymers for packaging and as additives in food products. The circular economy is a driving force behind the growth of biopolymers. Recycling rates for traditional plastics remain low, leading to environmental concerns and a carbon footprint. Biodegradable plastics, on the other hand, offer a carbon neutral alternative. Raw materials for biopolymers include PHA, PLA, and biodegradable polyesters such as Bio PE, Bio PET, Mater Bi, and Origo Bi. These materials are used to produce various products including bottles, films, fibers, seed coatings, vehicle components, and even eco-friendly consumer goods. Applications of biopolymers extend to agriculture, construction, medical equipment, textiles, orthopedic devices, wound management, and surgical sutures. However, it's important to note that not all biopolymers are biodegradable. Non-biodegradable biopolymers, such as methanova (methylcellulose), still contribute to environmental impact and carbon footprint. The automotive sector and bottle segment are significant markets for biopolymers, with the potential to reduce the environmental impact of these industries. The future of biopolymers lies in their ability to provide sustainable materials that meet the needs of various industries while minimizing their environmental impact.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio