Partial accessibility of petroleum resources, changeability in crude oil prices, and increasing awareness towards ecological issues are key aspects driving the expansion of the biopolymers market in the coming future.
Global Biopolymers Market: Overview
Polymers and plastics are usually utilized in packaging and coating applications. Around 80 - 85% polymeric materials are generated from the petroleum sector. The growing use of plastics is putting stress on the environment with its growing carbon footprint owing to greenhouse gas production, along with other aspects such as soil and water pollution. Thus, growing need for eco-friendly alternatives is increasing. The increasing stress towards sustainable growth is projected to make a prospect for bio-based polymers and plastics in the coming few years. Governments are supporting and encouraging the usage of biodegradable polymers over conventional polymers to decrease carbon footprint. Some of the automotive companies are now initiating for the utilization of the biopolymers; for example, the Ford Motor Company is making use of biopolymers for their interior applications.
Global Biopolymers Market: Growth Factors
Partial accessibility of petroleum resources, changeability in crude oil prices, and increasing awareness towards ecological issues are key aspects driving the expansion of the biopolymers market in the coming future. Changing ecological regulations on carbon emissions and political conditions and the restrictions on the usage of plastic are also expected to drive the global biopolymers market in the next few years. In spite of being a recessed market, the market is anticipated to experience the considerable growth rate in the coming future. Furthermore, raw materials needed in the production of biopolymers are acquired from agricultural wastes. Thus biopolymer manufacture can be considered as a sustainable substitute in waste managing. Biopolymers can also help in decreasing carbon dioxide production. Due to these benefits, there is an increasing interest in biopolymer production which will subsequently propel the expansion of the global biopolymers market in the coming years.
Global Biopolymers Market: Segmentation
Based on the material type, the biopolymers market is divided into biodegradable polyester, regenerated cellulose, bio polyethylene (Bio-PE), biodegradable starch blends, polyhydroxyalkanoate (PHA), bio-polyethylene terephthalate (Bio-PET), polylactic acid (PLA), and other material types. The global biopolymers market by the application can be widely categorized into automotive, agriculture, consumer products, bottles, textiles, packaging, and other applications.
Global Biopolymers Market: Regional Analysis
Europe anticipates being the major consumer of the biopolymers market. Attributing to the stringent rules and regulations that are implemented in this region it is anticipated that Europe will remain the leading market in the coming future. After Europe, North America is projected to account for a major market share. This region is likely to experience a considerable growth rate in the years to come. The Asia Pacific is anticipated to experience a healthy growth rate in the global biopolymers market in the coming future. This is majorly attributed to the factors such as fast industrialization and the requirement to control pollution from synthetic polymers and plastics in these regions. The Middle East & Africa and Latin America are projected to spend considerably in the research and development of biopolymers in the coming few years thus contributing to the growth of the biopolymers market.
Global Biopolymers Market: Competitive Players
Some of the most important market players in the global biopolymers market are BASF SE, NatureWorks LLC, Danimer Scientific, Novamont SpA, Galatea Bio Tech, Total Corbion, and Plantic Technologies Ltd., among others.
Global Biopolymers Market: Regional Segment Analysis
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