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What's driving Biopolymers Market Growth? Top Players: BASF SE, Meredian Holdings Group Inc., NatureWorks LLC

06-11-2019 01:39 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Future Market Insights

What's driving Biopolymers Market Growth? Top Players: BASF SE,

Polymers and plastics are generally used in coating and packaging applications. Around 80% polymeric materials are produced from the petroleum industry, while processing fossil fuels. The burgeoning use of plastics is burdening the environment with its increasing carbon footprint due to greenhouse gas emissions, along with other factors such as soil and ground water pollution. Thus arising a need for environment-friendly alternatives. The growing focus towards sustainable development is expected to create an opportunity for bio-based plastics and polymers in the coming years. Biopolymers are polymers that are degradable when subjected to moisture and heat, under the action of micro-organisms. They are made from waste starch, biomass and other renewable feed stock. There are some commercially available polymers (such as polylactic acid, bio-nano composites and polyhydroxyalkanoate, etc.) which are used in the electronics and automotive industries. Governments are encouraging the use of biodegradable polymers over conventional polymers so as to reduce carbon footprint. Some major automotive companies are now opting for biopolymers in their vehicles; for instance, the Ford Motor Company is using biopolymers for interior applications.

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Global Biopolymers Market: Market Participants

Examples of some of the major participants operating in the global biopolymers market are mentioned below:

BASF SE

Braskem S.A.

Meredian Holdings Group Inc.

NatureWorks LLC

Corbion NV

Metabolix, Inc.

Danimer Scientific

Biopolymer International

Solanyl Biopolymers

HARBEC, Inc.

Metabolix Inc.

Global Biopolymers Market: Market Dynamics

Fluctuation in crude oil prices, limited availability of petroleum resources and awareness towards ecological problems are key factors propelling the growth of the global biopolymers market during the forecast period. Changing political conditions and environmental regulations on carbon emissions and plastic usage are also forecasted to boost the global biopolymers market over the forecast period. Despite being a niche market, the biopolymers market is expected to witness significant growth over the forecast period. In addition to this, raw materials required in the manufacturing of biopolymers are obtained from agricultural wastes. Thus biopolymer production can prove to be a sustainable alternative in waste management. Being bio-degradable, biopolymers can also help in reducing carbon dioxide emissions. Owing to these advantages, there is a mushrooming interest in biopolymer manufacturing which will consequently drive the growth of the global biopolymers market over the forecast period.

However, costing is a significant issue for biopolymers. According to the European Bioplastics Association, the cost of biopolymers (owing to the manufacturing cost) is still pretty steep. This could manifest as a major challenge for the global biopolymers market during the forecast period.

Joint ventures with companies for manufacturing and investments in the research and development of biopolymers are the recent trends observed across the globe. Major biopolymer manufacturing companies are located in Western Europe, U.S., Japan and China, among others.

Global Biopolymers Market: Segmentation

On the basis of product type, the global biopolymers market is segmented as below:

Bio-PE

Bio-PET

Poly lactic acid (PLA)

Polyhydroxyalkanoate (PHA)

Biodegradable polyesters

Others (biodegradable starch blends, biodegradable polyesters etc.)

On the basis of application, the global biopolymers market is segmented as below:

Packaging

Bottles

Fibers

Agriculture seed coatings

Automotive interior parts

Others (medical implants)

On the basis of end-use industry, the global biopolymers market is segmented as below:

Automotive

Food & Beverage

Bio-medical

Agriculture

Electrical & Electronics

Aerospace

Others

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Global Biopolymers Market: Regional Outlook

Europe is a major consumer of biopolymers in the global biopolymers market. Attributing to the laws and regulations in this region, Europe is estimated to remain dominant throughout the forecast period. After Europe, North America is forecasted to account for a major share by 2016 end. This region is estimated to witness significant growth during the forecast period. Asia Pacific is projected to witness robust growth in the global biopolymers market over the forecast period. This is mainly attributed to rapid industrialization and the need to curb pollution from manmade plastics and synthetic polymers in these regions. Latin America and Middle East & Africa are expected to invest in the research and development of biopolymers during the forecast period.

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