Press release
Biopolymers Market Growth Prospects, Key Vendors, Future Scenario Forecast 2027
Biopolymers Market
Among product type, the bio-based polyethylene terephthalate (PET) segment accounted for the largest market share in 2018. This is owing to properties of bio-based PET such as recyclability and biodegradability. The composition of this biopolymer is derived from 30% of plant-based ethylene glycol and 70% of terephthalic acid (TPA, derived from fossil). Bio-based PET is used in production of bottles, bags, cosmetic containers, carpets, sanitary products, foils, and others.
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Among end-use industry, the packaging segment is expected to witness significant market share in the global biopolymers market. Biopolymers are mainly used in packaging applications. The packaging sector is witnessing increasing demand for plastics. For instance, according to Plastics and Composites Sector Report (2015) of Academy of Sciences Malaysia, worldwide plastic demand is expected to reach 600 million tons by 2050. Biopolymers are sustainable alternative to convention plastics and are increasingly used in packaging industry, which in turn is expected to fuel growth of the market over the forecast period.
Detailed Segmentation:
Global Biopolymers Market, By Product Type:
Bio-PE
Polylactic Acid (PLA)
Bio-based PET
Bio-polyesters
Others
Global Biopolymers Market, By Application:
Packaging
Medical Implants
Automotive Interior
Seed Coating
Others
Global Biopolymers Market, By End-use Industry:
Automotive
Agriculture
Packaging
Construction
Others
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Key companies covered as a part of this study include, BASF SE, NatureWorks LLC, Braskem S.A., Novamont S.p.A., E.I. Du Pont De Nemours and Company, Plantic Technologies Ltd, Archer Daniels Midland Company, Danimer Scientific, Bio-on S.p.A., and Rodenburg Biopolymers B.V.
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