The development of the packaging industry owing to the rise in trade and growth in population is propelling the market growth.
The global biopolymers market is forecast to reach USD 21.61 Billion by 2026, according to a new report by Reports and Data. Bioplastics and biopolymers are extensively used in the packaging industry. Non-biodegradable plastic products are being replaced with environment-friendly ones. Bio-based raw materials like starch and vegetable crop derivatives are being utilized in order to conform to the stringent government regulations regarding the environment as well as fauna. Hence product quality is maintained, and the carbon footprint of this industry is also smaller than the traditional plastic product manufacturing industries.
The market for biopolymers is influenced by the rising demand for home furnishing products, the evolution of environmentally friendly chemicals required by consumer goods, and development of packaging industries, which require large quantities of biopolymers. Agricultural as well as textile industries, use bioplastics for transportation, and biopolymers for the consumer goods, respectively.
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Top Leading Players in The Global Bioplastics and Biopolymers Market Are:
Corbion NV, Arkema, BASF SE, KURARAY, Eastman Chemical Company, Novamont, NatureWorks LLC, Celanese Corporation, Metabolix Holdings, and Braskem S.A., among others.
Further key findings from the report suggest:
- Bio-Polyethylene terephthalate (Bio-PET) is forecasted to grow with a CAGR of 15.5% in the forecast period. Bio-Polyethylene terephthalate has a smaller carbon footprint, and can be degraded by micro-organisms, and composted. It also uses less energy for production while the goods made from this material are used for manufacturing bottles and food containers.
- In the agro-based industries, Polylactic acid is widely used for packaging. This is because of the bio-degradability of this material. Polylactic acid (PLA) is used mostly in the present times as among the bio-polymers. PLA market is forecasted to grow with a CAGR of 15.8% during the forecast period.
- Asia Pacific is estimated to grow with the highest CAGR of 16.6% during the forecast period. The abundance in the availability of raw materials for production, and the executive norms for shifting from orthodox plastic products, which are detrimental to the environment, to eco-friendly, bio-based ones is leading the market in this region to further growth.
- China became the largest consumer of biopolymers owing to the ever-growing apparel and textile production, and on the huge production of leather and cotton products. China became a leader in the world in apparel production because of its low-cost labor compared with other countries.
Segments covered in the report:
Chemical Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Bio-Polyethylene terephthalate (Bio-PET)
- Starch Blends
- Polylactic Acid (PLA)
- Polyamide
- Polytrimethylene terephthalate (PTT)
- Bio-polyethylene (Bio-PE)
- Others
Product Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Bottles
- Cups
- Cans
- Corrugated Cased
- Boxes
- Plates
- Others
End-User Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Packaging
- Consumer Goods
- Automotive
- Textile
- Agriculture
- Others
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Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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