The global bio-based polymer market size reached US$ 8.1 Billion in 2023. Looking forward, the market is projected to reach US$ 13.3 Billion by 2032, exhibiting a growth rate (CAGR) of 5.66% during 2023-2032.
Bio based polymers refer to resins obtained from biological resources, such as algae, microorganisms, and plants. Synthetized directly or via monomer synthesis followed by polymerization, the primary biomass feedstock used in their manufacturing generally includes biogenic by-products, especially glycerol from biodiesel production. Since these polymers can help replace fossil carbon in the production process with renewable carbon from biomass, they are popularly used as an alternative solution for conventional plastics.
Some of the advantages offered by these polymers include improved resistance to food fats, excellent clarity and gloss, a high aroma barrier, and exceptional twist retention and printability. As a result, bio based polymers find widespread applications across a broad array of industries, including food and beverages (F&B), agriculture, textiles, electronics, packaging, and healthcare.
The market is further driven by the escalating shift toward green chemicals in multiple end-use industries. Some of the other factors contributing to the market growth include the augmenting preference for green polyethylene (PE) prepared using the process of microbial fermentation and the growing awareness regarding the ease of disposing biodegradable polymers.
2. What is the expected growth rate of the global bio-based polymer market during 2024-2032?
3. What are the key factors driving the global bio-based polymer market?
4. What has been the impact of COVID-19 on the global bio-based polymer market?
5. What is the breakup of the global bio-based polymer market based on the type?
6. What is the breakup of the global bio-based polymer market based on the application?
7. What are the key regions in the global bio-based polymer market?
8. Who are the key players/companies in the global bio-based polymer market?
Bio based polymers refer to resins obtained from biological resources, such as algae, microorganisms, and plants. Synthetized directly or via monomer synthesis followed by polymerization, the primary biomass feedstock used in their manufacturing generally includes biogenic by-products, especially glycerol from biodiesel production. Since these polymers can help replace fossil carbon in the production process with renewable carbon from biomass, they are popularly used as an alternative solution for conventional plastics.
Some of the advantages offered by these polymers include improved resistance to food fats, excellent clarity and gloss, a high aroma barrier, and exceptional twist retention and printability. As a result, bio based polymers find widespread applications across a broad array of industries, including food and beverages (F&B), agriculture, textiles, electronics, packaging, and healthcare.
Bio-Based Polymer Market Trends
The market is majorly driven by an enhanced focus on sustainable development. With the rising focus on reducing the dependency on conventional plastics, numerous global organizations are now promoting the uptake of biodegradable food-grade alternatives for beverage and snack packaging. Moreover, favorable policies and regulations undertaken by several government bodies across the globe are creating lucrative opportunities for key players in the market. Governments are not only discouraging the adoption of synthetic polymers but also implementing additional charges on the usage of conventional plastics in shopping and packaging applications.The market is further driven by the escalating shift toward green chemicals in multiple end-use industries. Some of the other factors contributing to the market growth include the augmenting preference for green polyethylene (PE) prepared using the process of microbial fermentation and the growing awareness regarding the ease of disposing biodegradable polymers.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global bio-based polymer market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on type and application.Breakup by Type:
- Polyethylene (PE)
- Polyamide (PA)
- Polylactic Acid (PLA)
- Polyethylene Terephthalate (PET)
- Others
Breakup by Application:
- Packaging
- Textile
- Automotive
- Industrial
- Agriculture
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being Arkema S.A., BASF SE, Biome Bioplastics Limited, Corbion N.V., FKuR Kunststoff GmbH, Kuraray Co. Ltd., Mitsubishi Chemical Holdings Corporation, Novamont S.p.A., Rodenburg Productie B.V., thyssenkrupp AG and Toray Industries Inc.Key Questions Answered in This Report
1. What was the size of the global bio-based polymer market in 2023?2. What is the expected growth rate of the global bio-based polymer market during 2024-2032?
3. What are the key factors driving the global bio-based polymer market?
4. What has been the impact of COVID-19 on the global bio-based polymer market?
5. What is the breakup of the global bio-based polymer market based on the type?
6. What is the breakup of the global bio-based polymer market based on the application?
7. What are the key regions in the global bio-based polymer market?
8. Who are the key players/companies in the global bio-based polymer market?
Table of Contents
1 Preface3 Executive Summary10 Value Chain Analysis12 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Bio-Based Polymer Market
6 Market Breakup by Type
7 Market Breakup by Application
8 Market Breakup by Region
9 SWOT Analysis
11 Porters Five Forces Analysis
13 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Arkema S.A.
- BASF SE
- Biome Bioplastics Limited
- Corbion N.V.
- FKuR Kunststoff GmbH
- Kuraray Co. Ltd.
- Mitsubishi Chemical Holdings Corporation
- Novamont S.p.A.
- Rodenburg Productie B.V.
- thyssenkrupp AG
- Toray Industries Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 135 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 8.1 Billion |
| Forecasted Market Value ( USD | $ 13.3 Billion |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
