Biopolymers Market Trend (By Type: Biodegradable, Non-Biodegradable/Biobased; By Application: Films, Bottles, Fibers, Seed Coating, Vehicle Components, Medical Implants, Others; By End User: Packaging, Consumer Goods, Automotive & Transportation, Textiles, Agriculture & Horticulture, Others) & Region (North America, Europe, APAC, MEA, South America) - Global Forecast to 2030
Pages: 300 | Jul-2024 Formats | PDF | Category: Chemical and Material | Delivery: 24 to 72 Hours
Biopolymers Market Overview
“The Biopolymers Market Predictable at $32.58 billion in 2022, is estimated to increase at a CAGR of 10.52% from $38.56 billion in 2023 to $90.21 billion by 2030.”
For Insights Consultancy presents an extensive market analysis report titled “Biopolymers Market Report 2024″providing businesses with an edge in competition by providing a thorough analysis of market structures with estimates for various segmentations and segments.
The report also focuses new trends, major drivers, challenges, as well as opportunities. The report provides all necessary information needed to thrive in the Biopolymers industry. This report is about Biopolymers market research provides a complete analysis, which includes a comprehensive analysis of the current and future trends in the market.
Biopolymers, derived from renewable resources like sugar, starch, and kelp, are gaining traction as a sustainable alternative to traditional plastics. These materials are processed into biopolymers, which can be further transformed into a range of products.
Key Characteristics and Applications
- Bio-based Origin: Biopolymers and biopolymers are produced from renewable sources, reducing reliance on fossil fuels.
- Versatility: These materials can be used in various applications, including packaging, automotive components, and consumer goods.
- Environmental Benefits: Biopolymers offer potential advantages in terms of biodegradability and reduced carbon footprint.
Market Drivers
- Growing Environmental Concerns: Increasing awareness of plastic pollution is driving demand for sustainable alternatives.
- Regulatory Pressures: Government regulations promoting bio-based materials are stimulating market growth.
- Technological Advancements: Improvements in biopolymer production processes are enhancing product performance and reducing costs.
While Biopolymers and biopolymers offer promising potential, challenges such as higher production costs and inconsistent biodegradability rates need to be addressed for widespread adoption.
Key Takeaways
Europe had the biggest revenue share of roughly 42.52% in 2022.
In 2022, the bio-based PET segment had a revenue share of roughly 55%.
Biopolymers Market Dynamics
Growth Factors
Polymers and plastics, commonly used in coating and packaging, are primarily produced in the petroleum industry, a non-renewable energy source. This growth in plastic usage raises environmental concerns due to carbon emissions from ozone-depleting chemical discharges and soil and groundwater contamination.
The demand for climate-friendly alternatives is increasing, leading to the development of bio-based plastics and polymers in the near future. These biopolymers degrade when exposed to wetness and intensity, like when small animals are active.
- Land contamination is becoming more prevalent.
- Increased prevalence of chronic diseases as a result of inadvertent ingestion.
- Customers all over the world are becoming more interested in eco-friendly items.
Growth Drivers
Shift in consumer preference towards eco-friendly plastic products-
The market development of Biopolymers is driven by consumer awareness of sustainable plastic solutions and efforts to avoid non-biodegradable ordinary plastics. Conventional plastics, primarily oil-based, take longer to separate and degrade, leading to long landfill stays. Biodegradable polymers degrade faster when discarded and are absorbed back into the natural framework, with faster breakdown rates by microbes.
Biodegradable plastics separate 60% or more in 180 days, compared to traditional plastics which take 1,000 years. This has led to increased landfills and rubbish piles, posing severe ecological threats and negative impacts on the biological system.
Consumer awareness of the negative effects of traditional plastics is driving the use of biodegradable polymers. Common polymers, like PVC, can cause health risks due to their toxic composition. This has led to an increased interest in products that are safe for human health. As a result, growing consumer awareness and administrative legislation are promoting the use of bio-based products like biodegradable plastics and bio-based plastics.
Challenges
Biopolymers are more expensive than regular plastics.
Biopolymers are gaining market share due to their higher cost compared to traditional polymers. The production cost of bio-based polymers is typically 20% to 100% higher than standard polymers, primarily due to the high polymerization cost. PHAs, for instance, have high production costs, low yields, and limited accessibility in various applications. PLAs, with lower production costs, are even more expensive. This is due to the formative stage of Biopolymers and the lack of economies of scale.
Bio-based materials are in the development stage and have not been as widely marketed as their petrochemical counterparts. Currently, biodegradable plastics cost between USD 2/kg and USD 6/kg compared to conventional plastics. This is due to higher R&D and production expenses, limited scope creation, and a significant cost difference compared to conventional oil-based plastics, limiting their entry into many industries.
Opportunities
Biopolymers and biopolymers market manufacturers in emerging APAC nations are utilizing natural and inorganic approaches for development. Total Corbion established a PLA Plant in Rayong, Thailand in 2019, with a production capacity of 75,000 tons per year. Indonesia is exploring bioplastic alternatives like kelp, while Evoware provides licensed ocean growth-based packaging.
Climate change standards are expected to increase interest in Biopolymers in Southeast Asia due to its abundant bio-based feedstock and its proximity to sustainable natural components. The expansion of guidelines and easy access to feedstock will help sustain interest in Biopolymers within the estimated time range.
Segments Covered in the Biopolymers Market
By Type
- Biodegradable
- Non-Biodegradable/Biobased
By Application
- Films
- Bottles
- Fibers
- Seed Coating
- Vehicle Components
- Medical Implants
- Others
By End User
- Packaging
- Consumer Goods
- Automotive & Transportation
- Textiles
- Agriculture & Horticulture
- Others
Competitive Landscape of the Biopolymers Market
- Novamont (Italy)
- Biome Biopolymers (UK)
- Mitsubishi Chemical Holding Corporation (Japan)
- Biotec (Germany)
- Toray Industries (Japan)
- Plantic Technologies (Australia)
- NatureWorks (US)
- Braskem (Brazil)
- BASF (Germany)
- Total Corbion (Netherlands)
Recent Developments in Biopolymers Market
In April 2021, NatureWorks reported another essential organization with IMA Coffee, which is a market chief in espresso taking care of handling and packaging. This organization targets expanding the market go after high-performing compostable K-cup in North America.
In August 2019, Braskem and Ledesma (Argentina), maker of regular agro-industrial items, have teamed up to convey Ledesma + Bio, which is a line of 100 percent sustainable journals made completely of sugarcane. Such drives are supposed to take special care of the requirements of the Biopolymers and biopolymers market.
In October 2022, I’m Green TM biopolymers, which are plastics made from sugarcane, are now being produced by Braskem, the world’s largest producer of biopolymers and America’s largest resin maker. Braskem is investing over USD 60 million to boost its I’m Green TM biopolymer production capacity by 30%. This demonstrates Braskem’s commitment to the circular economy and its objective of becoming carbon neutral by 2050, and it is a crucial step toward a global change in the industry as a whole. The company is also investigating the possibility of setting up a new I’m Green TM biopolymer factory in Thailand
In July 2022, A novel rice-derived biopolymer for mattifying skin care products has been introduced by BASF SE. According to BASF SE’s care creation business, Verdessence RiceTouch is a natural sensory powder made from non-GMO rice farmed in the European Union. The newly developed cosmetic ingredient was developed to absorb various oils, hence eliminating greasy flavors in products and skin greasiness
Regional Insights
Europe’s commercial dominance is due to strict law and order policies
Europe is the dominant buyer of biopolymers globally, with North America expected to offer significant growth by the end of 2016. Asia Pacific is also expected to experience rapid growth in the global biopolymers market, with Europe expected to remain dominant due to regulations and norms.
Rapid industrialization and the need to control contamination from synthetic plastics and polymers in Latin America, the Middle East, and Africa are driving investment in biopolymer innovation.
Frequently Asked Questions:
What is the current size of biopolymers market?
The Biopolymers Market Predictable at $32.58 billion in 2022, is estimated to increase at a CAGR of 10.52% from $38.56 billion in 2023 to $90.21 billion by 2030.
What will be the CAGR of global biopolymers market?
The global biopolymers market is poised to grow at a CAGR of 10.52% from 2023 to 2030.
Who are the prominent players operating in the biopolymers market?
The major players operating in the biopolymers market are NatureWorks (US), Braskem (Brazil), BASF (Germany), Total Corbion (Netherlands), Novamont (Italy), Biome Biopolymers (UK), Mitsubishi Chemical Holding Corporation (Japan), Biotec (Germany), Toray Industries (Japan) and Plantic Technologies (Australia)
Which are the driving factors of the biopolymers market?
Biopolymers market is driven by increasing prevalence of chronic diseases due to its consumption by mistake and the rising demand for the eco-friendly products among customers worldwide.
Key Benefits to Stakeholders:
- This study offers a quantitative examination of Biopolymers Market trends, estimations, and dynamics from 2023-2030 to identify potential opportunities in this space.
- Porter’s five forces study emphasizes the value of buyers and suppliers in helping stakeholders to make profitable business decisions while expanding their network.
- Undergoing in-depth analyses on market size and segmentation is vital in identifying current Biopolymers Market opportunities.
- Each region’s largest countries are mapped according to their revenue contribution for an accurate picture of this global industry.
- The Biopolymers Market research report offers a thorough examination of its major players. As such, purchasing this report provides many advantages to any organization looking to enter this competitive industry.
Reasons to Purchase Biopolymers Market Report:
- Current and Future Prospects of Biopolymers Market in both developed and emerging markets.
- Porter’s Five Force Analysis to help analyze various perspectives within this market. Major regions should experience rapid increases during this time.
- Uncover the most up-to-date industry developments, Biopolymers Market shares, and top market players’ strategies.
Research Methodology:
To estimate and validate the size of the Biopolymers Market as well as several of its dependent submarkets in its entirety, both top-down and bottom-up methodologies were used. Secondary research identified key players within the market while primary sources and verified primary sources provided an accurate picture of all percentage share breakdowns and splits within this global industry.
Table of Contents
- Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
- Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
- Executive Summary
3.1. Market Snapshot
- Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
- COVID 19 Impact on Biopolymers Market
5.1. COVID-19 Landscape: Biopolymers Industry Impact
5.2. COVID 19 – Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
- Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
- Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
- Global Biopolymers Market, By Type
8.1. Biopolymers Market, by Type, 2022-2030
8.1.1 Biodegradable
8.1.1.1. Market Revenue and Forecast
8.1.2. Non-Biodegradable/Biobased
8.1.2.1. Market Revenue and Forecast
- Global Biopolymers Market, By Application
9.1. Biopolymers Market, by Application, 2022-2030
9.1.1. Films
9.1.1.1. Market Revenue and Forecast
9.1.2. Bottles
9.1.2.1. Market Revenue and Forecast
9.1.3. Fibers
9.1.3.1. Market Revenue and Forecast
9.1.4. Seed Coating
9.1.4.1. Market Revenue and Forecast
9.1.5. Vehicle Components
9.1.5.1. Market Revenue and Forecast
9.1.6. Medical Implants
9.1.6.1. Market Revenue and Forecast
9.1.7. Others
9.1.7.1. Market Revenue and Forecast
- Global Biopolymers Market, By End User
10.1. Biopolymers Market, by End User, 2022-2030
10.1.1. Packaging
10.1.1.1. Market Revenue and Forecast
10.1.2. Consumer Goods
10.1.2.1. Market Revenue and Forecast
10.1.3. Automotive & Transportation
10.1.3.1. Market Revenue and Forecast
10.1.4. Textiles
10.1.4.1. Market Revenue and Forecast
10.1.5. Others
10.1.5.1. Market Revenue and Forecast
10.1.6. Agriculture & Horticulture
10.1.6.1. Market Revenue and Forecast
10.1.7. Others
10.1.7.1. Market Revenue and Forecast
- Global Biopolymers Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Type
11.1.2. Market Revenue and Forecast, by Application
11.1.3. Market Revenue and Forecast, by End User
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Type
11.1.5.2. Market Revenue and Forecast, by Application
11.1.5.3. Market Revenue and Forecast, by End User
11.2. Europe
11.2.1. Market Revenue and Forecast, by Type
11.2.2. Market Revenue and Forecast, by Application
11.2.3. Market Revenue and Forecast, by End User
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Type
11.2.7.2. Market Revenue and Forecast, by Application
11.2.7.3. Market Revenue and Forecast, by End User
11.3. APAC
11.3.1. Market Revenue and Forecast, by Type
11.3.2. Market Revenue and Forecast, by Application
11.3.3. Market Revenue and Forecast, by End User
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Type
11.3.7.2. Market Revenue and Forecast, by Application
11.3.7.3. Market Revenue and Forecast, by End User
11.4. MEA
11.4.1. Market Revenue and Forecast, by Type
11.4.2. Market Revenue and Forecast, by Application
11.4.3. Market Revenue and Forecast, by End User
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Type
11.4.7.2. Market Revenue and Forecast, by Application
11.4.7.3. Market Revenue and Forecast, by End User
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Type
11.5.2. Market Revenue and Forecast, by Application
11.5.3. Market Revenue and Forecast, by End User
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Type
11.5.5.2. Market Revenue and Forecast, by Application
11.5.5.3. Market Revenue and Forecast, by End User
- Company Profiles
12.1. NatureWorks (US)
12.2. Braskem (Brazil)
12.3. BASF (Germany
12.4. Total Corbion (Netherlands)
12.5. Novamont (Italy)
12.6. Biome Biopolymers (UK)
12.7. Mitsubishi Chemical Holding Corporation (Japan
12.8. Biotec (Germany)
12.9. Toray Industries (Japan)
12.10. Plantic Technologies (Australia)
- Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
- Appendix
14.1. About Us
14.2. Glossary of Terms
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