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The biopolymers market share is expected to increase by 1294.13 thousand tons from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 6.04%.
This biopolymers market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers biopolymers market segmentations by end-user (packaging and food services sector, agriculture and horticulture sector, consumer goods sector, automotive sector, and others), type (PLA, bio-PE, bio-PET, PHA, and others), and geography (Europe, North America, APAC, MEA, and South America). The biopolymers market report also offers information on several market vendors, including Archer Daniels Midland Co., Arkema SA, BASF SE, Braskem SA, Danimer Scientific, DuPont de Nemours Inc., Evonik Industries AG, Galatea Bio Tech Srl, NatureWorks LLC, and Toray Industries Inc. among others.
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The volatility in crude oil prices is notably driving the biopolymers market growth, although factors such as may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the biopolymers industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Biopolymers Market Driver
The volatility in crude oil prices is a major factor driving the global biopolymers market share growth. The use of crude oil as a carbon feedstock for producing chemicals has dominated the chemical industry. The oil and gas industry is one of the major suppliers of raw materials to the global chemical market. Therefore, any fluctuations in crude oil prices affect the prices of raw materials considerably, thereby affecting the cost of chemicals. The volatility in the prices of raw materials directly affects the revenue and profit margins of manufacturers of chemical products. Consequently, vendors are compelled to reduce the use of petroleum-derived feedstock chemicals and seek alternative solutions to maintain their profit margins. The supply of raw materials can be negatively affected by adverse weather conditions, national emergencies, natural disasters, supply shortages, and other events. The price fluctuations and non-availability of raw materials can affect the cost of the products and operations of the vendors. Essentially, volatility in crude oil prices will boost the demand for biopolymers globally during the forecast period.
Key Biopolymers Market Trend
The increasing preference for eco-friendly packaging is another factor supporting the global biopolymers market share growth. The growth in plastic waste worldwide has led to the enforcement of stringent regulations on the use of plastics. Consumers increasingly prefer eco-friendly plastic products owing to the rising awareness of the health hazards of plastic use. With the growing necessity to reduce plastic waste across the world, governments in developed and developing countries are taking numerous initiatives. The rising global population is also contributing to plastic waste generation across the globe. The growing population in India and China will increase the production of plastic packaging waste because of the use of packaged food and other packaged products. The US generates 80-million-ton plastic packaging waste and the UK generates 2 million tons of plastic packaging waste every year. The rising plastic packaging waste production across the globe has forced vendors to consume more green packaging labels as a strategy for branding as well as customer acquisition. Additionally, the increasing acceptance of sustainable packaging and green products by consumers will drive the biopolymer packaging market, which will support the growth of the global biopolymers market during the forecast period.
Key Biopolymers Market Challenge
The cost-effectiveness of conventional plastics over biopolymers will be a major challenge for the global biopolymers market share growth during the forecast period. One of the biggest challenges for the growth of the global biopolymers market is the cost-competitive inability of biopolymers over conventional plastics. The price of biopolymers is in the range of $3,500-$5,200 per ton, which is higher than that of conventional plastics. The rising prices of renewable raw materials such as glucose, which is used for manufacturing biopolymers, are also hindering the market's growth. The lack of the required supply chain network at upcoming capacity locations is another challenge for the market. One of the main issues in the production of biopolymers is the non-standard production technology, which is still in its nascent stage of development. Different raw materials are being tested for the optimal production of biopolymers. High production costs, owing to the small-scale production by vendors and high R&D costs incurred by vendors, and the substantial price difference between biopolymers and conventional petroleum-based products will hinder the demand for biopolymers during the forecast period.
This biopolymers market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global biopolymers market as part of the global commodity chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the biopolymers market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the biopolymers market encompasses successful business strategies deployed by the key vendors. The biopolymers market is fragmented and the vendors are deploying growth strategies such as organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The biopolymers market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the biopolymers market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global commodity chemicals market includes the following core components:
The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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32% of the market's growth will originate from Europe during the forecast period. Germany and UK are the key markets for the biopolymers market in Europe. Market growth in this region will be faster than the growth of the market in all other regions.
The increasing demand from the healthcare industry will facilitate the biopolymers market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 has reduced the sales of biopolymers in the region, as manufacturing units have been closed to control the spread of the disease. Italy, Spain, Germany, France, Switzerland, the UK, the Netherlands, Austria, Belgium, Norway, Portugal, and Sweden are some of the countries that have been severely affected by the pandemic. The biopolymers manufacturing industry was temporarily shut down, primarily during the first half of 2020, which declined the demand for biopolymers. Weakening economies and disruptions in supply chains were among the primary factors that impacted the growth of the regional market in 2020. However, the region's economy is expected to recover from the COVID-19 crisis due to the availability of COVID-19 vaccines. The ongoing vaccination drives are expected to contain the spread of the disease and result in the full resumption of production operations by the end of 2021.
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The biopolymers market share growth by the packaging and food services sector segment will be significant during the forecast period. The packaging industry is mainly dominated by the global e-commerce industry. The e-commerce industry uses large quantities of foams, carrier bags, and shrink wraps, among others, as packaging materials. The thriving global e-commerce industry will drive the demand for packaging materials, including PHAs, during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the biopolymers market size and actionable market insights on post COVID-19 impact on each segment.
Biopolymer Packaging market - The market share is expected to increase by USD 5.39 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 11.45%.
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Biopolymers Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.04% |
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Market growth 2021-2025 |
1294.13 thousand tons |
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Market structure |
Fragmented |
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YoY growth (%) |
5.70 |
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Regional analysis |
Europe, North America, APAC, MEA, and South America |
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Performing market contribution |
Europe at 32% |
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Key consumer countries |
US, Germany, UK, China, and Japan |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Archer Daniels Midland Co., Arkema SA, BASF SE, Braskem SA, Danimer Scientific, DuPont de Nemours Inc., Evonik Industries AG, Galatea Bio Tech Srl, NatureWorks LLC, and Toray Industries Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Market Segmentation by Type
7 Customer landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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