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The biopolymers market size is estimated to grow by USD 14.93 billion at a CAGR of 10.11% between 2022 and 2027. The volatility in crude oil prices impacts the cost competitiveness of biodegradable plastics, as they are often seen as alternatives to traditional plastics derived from crude oil. Stringent environmental regulations and policies are driving the demand for biodegradable plastics, as they offer a more sustainable solution compared to traditional plastics. The increasing demand for PHA-based biodegradable plastics is driven by their biodegradability and versatility, making them suitable for a wide range of applications.
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This market report extensively covers market segmentation by type (PLA, Bio-PE, Bio-PET, PHA, and starch 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). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report consists of historic market data from 2017 to 2021.
The PLA segment is estimated to witness significant growth during the forecast period. PLA is one of the most widely adopted biodegradable polyesters. It has been found in blood and muscle tissue as a derivative of lactic acid, which is the glucose metabolism product. The synthesis of PLA can be carried out either on a recycled or unrefuelable basis. Chemical polymerization of lactic acid results in the formation of PLA copolymer. PLA is preferred in biopolymeric applications as it is water-resistant.
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The PLA segment was the largest segment and was valued at USD 2.16 billion in 2017. The primary application of PLA is in the packaging sector, and also used as an insulator and is often used as an alternative to polystyrene. PLA's adaptability and natural degradation potential in the environment are some of its benefits as a biopolymer. The demand for PLA is expected to increase during the forecast period, which will boost the growth of the global biopolymers market.
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Europe is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Biopolymers are used in medical devices such as memory enhancers, biocontrol agents, biodegradable implants, and anticancer agents. One of the largest markets for medical devices is in Europe, Germany, France, and Italy. The growth rate in Europe's medical devices market, driven by growing demand from the health sector, is expected to be high over the forecast period. The aging population is primarily responsible for the development of the medical device market in this region. In the food service industry, biopolymers are used for making food packaging materials, owing to their characteristics such as high barrier to flavoring substances, high chemical resistance, and high CO2 barrier. Hence, the growth in the European foodservice market will drive the demand for biopolymers during the forecast period.
The market is driven by the increasing demand for environmentally friendly packaging alternatives and the rising awareness of global warming and its effects. Companies like BASF SE and Braskem are key players in developing bio-based polymers and biodegradable plastics from corn and other feedstocks. These materials offer healing properties for the environment by reducing carbon footprints and harmful effects caused by traditional plastics. Additionally, they find applications in various industries, such as automotive, consumer products, and the biomedical sector, creating emerging revenue pockets and driving the market's growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing demand for PHA-based biodegradable plastics is a driving trend in the market. Due to the rising demand for environmentally friendly packaging across various industries, major plastics and packaging producers are transitioning to biodegradable materials. This shift is driven by increasing government regulations that prohibit the use of non-biodegradable plastic products. Governments are implementing green procurement rules to reduce the harm caused by traditional plastics and promote materials with healing properties. The use of renewable sources, such as biomass and biodiesel raw materials, is also contributing to the growth of the global biodegradable plastics market.
Unlike petroleum and fossil fuels, the raw materials used in biodegradable plastic production are renewable and abundant. The outlook for bioplastic raw materials, which are used to make plastics, is expected to be highly influential due to their environmental friendliness compared to petroleum-based raw materials. This is particularly relevant in the context of carbon footprints, consumer products, conventional plastics, and conventional polymers. The increasing global demand for bioplastics is expected to drive the demand for PHAs (polyhydroxyalkanoates) and other biopolymers in the forecast period.
The high demand for cornstarch due to its cost-effective nature is a primary trend in the market. The increasing demand for cornstarch in the paper sector is one of the most important trends in the global bioplastics market. This is primarily due to the broad application areas of both native cornstarch and modified cornstarch. In the paper industry, cornstarch is frequently used as a filling agent. Paper manufacturers have been looking for cost-efficient alternatives or cheaper fillers due to the high costs of cellulose pulp. These stabilizers are usually used to bind the specially modified starch into the pulp.
Cornstarch is also used as a thickening agent in papermaking. It has excellent moisture-absorbing power. In comparison with stored products, cornstarch also offers a more affordable alternative. The use of cornstarch goes beyond its application in the food and beverage industry. In addition, due to its flexibility, this ingredient is ideal for several applications in the paper sector, thereby increasing demand for cornstarch, which is also expected to strengthen the growth of the global market during the forecast period.
Low market acceptance and consumer awareness is a major challenge faced in a market. One of the main challenges facing the world market for biopolymers is that consumers and end users perceive them to be specialty or niche materials. For biopolymers to be used more widely and for the industry to grow, there needs to be greater acceptability in the marketplace and a greater understanding of the advantages of these materials, such as their renewable and biodegradable nature.
However, comprehensive communication strategies and focused efforts are required to emphasize sustainability, the smaller carbon footprint of biopolymers, and their potential to reduce plastic waste. To tackle this challenge, the development of effective marketing campaigns, working with industry stakeholders, and participating in public policies aimed at promoting wider knowledge and acceptance of bioplastics as substitutes for traditional plastics are needed. A failure to spread this awareness can hinder the adoption of biopolymers and hence pose a challenge to the growth of the global biopolymers market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Archer Daniels Midland Co. - The company offers biopolymers and bioplastics in partnership with LG Chem.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The market is experiencing significant growth, driven by the increasing demand for environmentally friendly packaging alternatives and the rising awareness of the harmful effects of traditional plastics on the environment. Biopolymers, such as alginate, chitosan, and cutin, offer biodegradable and ecologically friendly solutions for various industries, including agriculture, consumer products, and medical equipment. These materials, derived from natural sources like sugarcane and seaweed, are paving the way for a circular economy and reducing carbon footprints. With advancements in technology and innovation, the market is poised for further growth and development in the coming years.
The market is witnessing substantial growth, fueled by the increasing demand for biodegradable and eco-friendly alternatives to conventional plastics. These materials, derived from natural sources such as sugarcane and natural rubbers, are gaining traction in various sectors, including agriculture, biomedical, and packaging. The market is influenced by factors such as customer preference for sustainable products, changes in market regulations promoting environmentally friendly solutions, and government initiatives to reduce the harm caused by traditional plastics. With technological innovations driving the development of new applications and emerging revenue pockets, the biopolymers market is poised for continued expansion.
The market is experiencing significant growth, driven by the rising demand for eco-friendly alternatives in various sectors such as agriculture, biomedical, and packaging. Biodegradable mulch films, bottles, and cutlery are replacing conventional plastics, supported by government initiatives and green procurement rules. Companies are investing in research and development to expand their production capacity and develop newer applications for biopolymers. Factors like economies of scale and development prospects are further propelling market growth. However, challenges such as polymerization costs and hydrolytic stability remain, highlighting the need for continuous technological innovation and strategic market growth analysis.
Market Scope |
|
Report Coverage |
Details |
Page number |
184 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.11% |
Market growth 2023-2027 |
USD 14.93 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
9.36 |
Regional analysis |
Europe, North America, APAC, Middle East and Africa, and South America |
Performing market contribution |
Europe at 33% |
Key countries |
US, China, Japan, Germany, and the UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Archer Daniels Midland Co., Arkema Group, BASF SE, Biome Technologies plc, 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, Yield10 Bioscience Inc., and Braskem SA |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
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