What is the Upcoming Trends for the Bio-based Polymers Market?

The Global Bio-based Polymers Market is projected to reach USD 41.61 billion by 2028, growing at a CAGR of 13.5% during the forecast period.

What are Bio-based Polymers and what are their uses?

Bio substantial materials are plant-derived and biodegradable. Bio-based plant polymers, such as corn, sugarcane, vegetable oil, and cellular soya and others are all produced from bio-based polymers. The next-generation polymers are also known to reduce the use of fossil fuels. The bio-based polymers used in the textiles, containers and other uses have been originally developed, cellulose and starch.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. BASF SE
2. Dow DuPont
3. PTT Global Chemical Public Company Limited
4. Arkema company
5. Corbion
6. Mitsubishi Chemical Holdings Corp.
7. Teijin limited
8. Kuraray Co. Ltd.
10. Toray Industries Inc.

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Increase in green chemicals demand to drive the market for Bio-based Polymers

During the forecasting timeframe, the global bio-based polymer market is expected to increase substantially as green chemical demand raises globally. In turn, the growth of the biofuels sector worldwide is motivated by factors such as strict regulatory policies on the consumption of synthetic polymers. Therefore, in Europe, synthetic polymers are seeing slow growth rates and the demand for bio-based polymers is increasing significantly. The European Union is closer to a large group of public regulatory bodies.

Therefore, the development of the bio-based polymers industry is anticipated to be fuel for constructive government initiatives against bio-based polymers. Rather, high prices are expected to curtail the development of the demand for bio-based polymers.

Polyethylene category to dominate the bio-based polymers market

Due to mass development as well as high demand in the end-use sectors, the polyethylene category is expected to dominate the bio-based polymers markets on a type-based basis. When oil prices rise, dehydration from ethanol provided by microbial fermentation has become a product of microbial polyethylene (PE) or green polyethylene (PE). As such, the demand is increasing at a faster rate for bio-based polyethylene.

The packaging category should be the main bio-based polymer market based on the product. These polymers display outstanding clearness and brightness, food fats/oils tolerance and scent barrier. We also provide the package with rigidity, twist stability and printability. Organic polymers are used in grocery containers, bread and pastry boxes, bottles and carton envelopes and show frames, and shopping or holding bags, among others, of fruit & vegetables. In the European and North American countries, the bio-based polymer packaging market is growing rapidly.

The FDA and associated organizations are increasingly intervening with regard to food safety and are encouraging the use in beverage and snacking of biodegradable and food-grade plastic. The restaurant chains and food processing industries adopt biodegradable materials to food packaging more and more. Consumer awareness, particularly in emerging economies, is also rising rapidly regarding food health, as certain plastics have shown carcinogenicity.

The extension of the food packaging requirements of numerous food and safety organizations is projected to increase in emerging regions such as Asia Pacific, South America, and the Middle East, in the short term. In fact, the improved ease of disposal of biodegradable polymers has raised its increasing demand in the packaging industry.

Western Europe is expected to dominate the bio-based polymers market. The use of biodegradable polymers in carry-on bags, food packaging, food service (cutlery, etc.) and organic waste paddy, among others, was promoted by the public awareness and government initiatives in the region. Various countries in the region have focused on selling more environmentally friendly packaging. This has increased the demand in the packaging industry for polylactic acid.

The packaging industry currently accounts for GBP 11 billion in annual sales and hires over 85,000 workers in the United Kingdom. It accounts for approximately 3 percent of UK production, which contributes significantly to the GDP of the region. Much of the country's packaging sector belongs to non-Unified Kingdom firms. The ever-growing need for small packaging is expected to raise the market for bio-based polymers through the forecast period as well as the increasing consumption habit with shifts in lifestyles.

Key Factors Impacting Growth of Bio-Based Polymers Market:
o Expansion in demand for Green Chemicals Globally.
o Strict regulatory policy on the use of Synthetic Polymers.
o Promoting government initiatives on Bio-Based Polymers.

Interesting Developments in the Bio-Based Polymers Market:

o In December 2017, BASF SE (Germany), which is the first organization on the market to manufacture EPS using BASF's biomass equilibrium Strategy, started to sell biomass-balanced styrene. Following special balancing, the technique T?V S?D-certified at the start of the production process can be used to replace the fossil resources necessary for the production of Styropor with entirely renewable resources.

o Evonik (Germany) launched the innovative bio-based transparent polyamide concept in February 2018 which combines safety, function, and design for child glasses.

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What Does This Report Provide?

This research gives a detailed overview of the global biological polymers market during the forecast period from qualitative and quantitative points of view. It also delivers complex metrics that have potential market effects over the forecast period and comprehensive analysis of the world's leading firms in the bio-based sector for polymers.

Market Segmentation:

By Type:
o Biodegradable Starch Blends
o Polylactic Acid (PLA)
o Bio-polyethylene Terephthalate (Bio-PET)
o Polyhydroxyalkanoate (PHA)
o Bio-polyethylene (Bio-PE)
o Biodegradable Polyesters
o Others

By Application:
o Packaging
o Textiles
o Consumer Goods
o Automotive & Transportation
o Agriculture & Horticulture
o Building & Construction
o Electrical & Electronics
o Others

By Region:

o North America
By Country (US, Canada, Mexico)
By Type
By Application

o Western Europe:
By Country (Germany, UK, France, Spain, Rest of Western Europe)
By Type
By Application

o Eastern Europe:
By Country (Russia, Turkey, Rest of Eastern Europe)
By Type
By Application

o Asia Pacific
By Country (China, Japan, India, Rest of Asia Pacific)
By Type
By Application

o Middle East:
By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
By Type
By Application

o Rest of the World
By Region (South America, Africa)
By Type
By Application

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This release was published on openPR.