Global Biopolymers Market: Industry Analysis and Forecast (2021-2027)
Global Biopolymers Market size was valued at US$ 4.5 Bn. in 2019 and the total revenue is expected to grow at 15.6 % through 2021 to 2027, reaching nearly US$ 10.74 Bn.
2019 is considered as a base year to forecast the market from 2021 to 2027. 2020’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years' trends are considered while forecasting the market through 2027. 2020 is a year of exception and analyzed especially with the impact of lockdown by region.
Global Biopolymers Market report is an extensive study of the industry, market, and key players. The report aims to define and analyze market sizes, trends, dynamics, and recent developments in several segments and countries in the previous years and to forecast the figures for 2021-2027. The report has analyzed the market in qualitative as well as quantitative ways of the industry in different regions and countries across the globe. The report also highlights drivers, restraints, opportunities, and challenges with detailed analysis responsible for the future growth of the biopolymers market.
Global Biopolymers Market Overview:
The global biopolymers market size was valued at US$ 4.5 Bn. in 2019, and it is expected to grow US$ 10.74 Bn. BY 2027 at a CAGR of 15.6 % during the forecast period.
Biopolymers are organic polymers obtained from the cells of living creatures completely compostable in nature. These biopolymers can be easily reused, recycled, or renewed, producing a better alternative as well as the limitation on the use of petroleum-based polymers. These materials are easy to process and are neutral towards carbon dioxide emission resulting in the safety of the environment against global warming and pollution. A key step towards the conservation of fossil fuels has been taken by initiating the application of biopolymers into different industries across the globe.
COVID–19 Influence on Global Biopolymers Market:
The report has covered a detailed analysis of short term and long term effects of the COVID-19 pandemic about each segment of the global biopolymers market including a plan of various governments across the globe to support the market, the effect of a pandemic on major key players, expected period for rising demand and supply in the industry, and other important factors.
Key Trends:
Thermoplastic starch is a type of biopolymer obtained from the plant materials of non-food crops like rice, potatoes, maize, corn, and others. The combination of thermoplastic starch and polymer develops 100% compostable products like polylactic acid (PLA) and polyethylene. The major market players have named the final product as ‘Eco-alloy’ which is produced by the mixing of polyethylene and polylactic acid.
Polyhydroxyalkanoates (PHAs) are organic polyesters procured by the bacterial fermentation of sugar or lipids. The introduction of (PHAs) in the industry helped to overcome the challenges related to food packaging.
Global Biopolymers Market Dynamics:
Quick exhaustion of petroleum reservoirs
Co-founder of the Oil Depletion Analysis Center in London (ODAC), Colin Campbell carried out an analysis and saw human beings have consumed approximately 943 billion barrels of crude oil in history and approximately only 767 billion barrels are yet to be consumed. The statistics of the analysis are warning as human beings are within reach of time when they will have to survive in the world without oil. Thus, the draining of petroleum reservoirs are forcing companies to invest, invent, and innovate to develop a renewable alternative and it is providing mandatory focus to drive the global biopolymer industry.
Increasing need for the biopolymers for Pharmaceutical Industry
The use of biopolymers in pharmaceutical industries is done for healing injuries or wounds of any size, shape, or depth respectively. The production of hydro-gels involves common biopolymers like Calcium alginate, collagen, gelatin, pectin, and chitosan result in creating moist surroundings for dry wounds or injuries. These biopolymers are also used for dressings of injury or wound. Thus, these key factors are vital growth promoters for the global biopolymer market during the forecast period.
Strict rules and regulations imposed on conventional plastic usage
The officials of various countries like India, China and others have imposed strict laws and regulations on the use of plastic and artificial packaging materials. Thus, this initiative by officials is boosting the growth of the global biopolymer market consistently. The growing perceptions about the hazardous effects of food packaging on consumer health and the rising need for biodegradable packaging materials are also propelling the growth of the global biopolymer market.
The economic use of conventional plastic compared to the use of biopolymer is restraining the growth of the global biopolymer market.
The lifestyles of consumers are changing worldwide, the food industries and pharmaceutical industries are growing at a pace and new product launches in the biopolymer sector are expected to create opportunities for the global biopolymers market during the forecast period.
Biopolymer production is expensive and requires a huge amount of initial investment in comparison to conventional plastic. So, to resolve this challenge the major companies from the market such as BASF SE, Danimer Scientific, Biome Technologies Ltd, and many more are forming joint ventures with agriculture sector companies to grow mutual relations for the development and growth of the global biopolymer market.
For example, it takes about one penny to produce a plastic grocery bag but the cost rises 8% to 10% to produce a biopolymer grocery bag i.e. 8 pennies to 10 pennies per bag.
Global Biopolymers Market Segment Analysis:
On the basis of Product, the global biopolymers market is segmented into five types as follows, bio-polyethylene, bio-polyethylene terephthalate, polylactic acid, bio-degradable polyesters, and others. In 2019, bio-polyethylene terephthalate was dominant segment holding xx% of the overall market share thanks to its properties like reusability, recyclability, and compostable in nature. The composition of bio-polyethylene terephthalate is procured from 30% ethylene glycol and 70% terephthalic acid (TPA) resulting in its use for the production of bottles, sanitary products, carpets, bags, packaging foils, and others. The report has also covered a detailed analysis of each product.
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On the basis of Application, the global biopolymers market is segmented into eight types as follows, packaging, bottles, fibers, seed coating, cosmetics, automotive interior parts, medical implants, and others. In 2019, the packaging segment was dominant segment holding xx% of the overall market share thanks to the consistently growing food packaging industry, high standard of living, and increasing focus on health and hygiene. The report has also covered a detailed analysis of each application.
On the basis of End-Use Industry, the global biopolymers market is segmented into seven types as follows, food and beverages, automotive industry, pharmaceutical, agriculture, semiconductors and electronics, textile industry, and chemical industry. The report has also covered a detailed analysis of each end-use industry.
Global Biopolymers Market Regional Insights:
In 2019, Europe was dominant segment holding xx% of the overall market share and it has the largest market for packaging. Also, strict rules and regulations were applied by the officials on the use of conventional plastic bags. For example, in 2019, the Plastic Bags Directive in European Union (EU) imposed a ban on using more than 90 conventional plastic bags per year by a consumer which was less than Europe’s average of 200 bags per year.
The rapid industrialization, growing standards of living, and rising per capita income in the countries like India, China, and Japan are resulting in the high consumption of products from various industries like cosmetics, pharmaceuticals, automotive, agriculture, and others. Thus, Asia Pacific is creating more opportunities for the growth of the biopolymers market.
The regions of the Middle East and Africa have a healthy agricultural industry and the biopolymers are used for seed coating, silage films, and others. Thus, the Middle East and Africa regions are observing slow but steady progress in the biopolymers market.The report has also covered a detailed analysis of each region.
Global Biopolymers Market 1
The objective of the report is to present a comprehensive analysis of the global Biopolymers market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the global Biopolymers market dynamics, structure by analyzing the market segments and project the global Biopolymers market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Biopolymers market make the report investor’s guide.
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Global Biopolymers Market 2
Global Biopolymers Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Global Biopolymers Market Key Players
• BASF SE
• Danimer Scientific
• Novamont S.p.A.
• Galatea BioTech
• Total Corbion
• Plantic Technologies Ltd.
• FMC BioPolymer A.S
• NatureWorks LLC
• Sigma-Aldrich
• Biome Technologies Ltd.
• Braskem S.A.
• E.I. Du Pont De Nemours and Company
• Archer Daniels Midland Company
• Bio-on S.p.A
• Rodenburg Biopolymers B.V.
• Yield10 Bioscience, Inc.
• Evonik Industries AG
• Solanyl Biopolymers Inc.
• Tianjin Green Bio Materials Co. Ltd.
• Others
Frequently Asked Questions:
1. What is the forecast period of the biopolymers market?
Ans. The forecast period of the biopolymers market is 2021-2027.
2. Which key factors are hindering the growth of the biopolymers market?
Ans. The high production cost is the key factor expected to hinder the growth of the biopolymer market during the forecast period.
3. What is the compound annual growth rate (CAGR) of the biopolymers market for the next 6 years?
Ans. The global biopolymer market is expected to grow at a CAGR of 15.6% during the forecast period (2021-2027).
4. What are the key factors driving the growth of the biopolymer market?
Ans. Quick exhaustion of petroleum reservoirs and rising awareness about the use of biopolymers are the key factors expected to boost the growth of the biopolymer market during the forecast period.
5. Which are the major key players of the biopolymers market worldwide?
Ans. The major key players of the biopolymers market across the globe are as follows, BASF SE, Danimer Scientific, Novamont S.p.A., Galatea BioTech, Total Corbion, Plantic Technologies Ltd., FMC BioPolymer A.S, NatureWorks LLC, Sigma-Aldrich, Biome Technologies Ltd., Braskem S.A., E.I. Du Pont De Nemours and Company, Archer Daniels Midland Company, Bio-on S.p.A, Rodenburg Biopolymers B.V., Yield10 Bioscience, Inc., Evonik Industries AG, Solanyl Biopolymers Inc., Tianjin Green Bio Materials Co. Ltd., and others.
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