Bio-Based Polymer Market Is Expected To Show A Value of USD 12159.17 Million By 2029

Global Bio-Based Polymer Market was valued at USD 7922.90 million in 2021 and is expected to reach USD 12159.17 million by 2029, registering a CAGR of 5.50% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.Europe dominates the bio-based polymer market because of the unrestricted information and government enterprises in the nation have encouraged the application of biodegradable polymers in courier packs, food packaging, cooking assistance, and caddy bin liner bags, among others within the region. On the other hand, Asia-Pacific is estimated to show lucrative growth due to the abundance of raw material, favorable government policies, and increase in demand for bio-based polymers from consumer goods segment within the region.

Bio-based polymers are materials containing at least a fraction of the polymer made from renewable basic ingredients. Bio-based polymers, for example, can be made from corn or sugarcane. The remaining polymers might be made from carbon derived from fossil fuels. They are manufactured from sustainable resources. Biodegradable polymers are products whose physical and chemical qualities deteriorate when exposed to microorganisms, methane, carbon dioxide, and water processes. Bio-based polymers can be biodegradable (such as polylactic acid) or non-biodegradable (for example, biopolyhethylene).

COVID-19 Impact on Bio-Based Polymer Market

The recent outbreak of coronavirus had a negative impact on the bio-based polymer market. The adverse effect on the market can be attributed to the fact that the bio-based polymers are employed in a variety of industries, including packaging, consumer goods, automotive and transportation, and textiles, which were negatively impacted by the pandemic. The various end use industries were also affected by manpower shortages, logistical constraints, material scarcity, and other factors, which had hindered the industry's expansion. Furthermore, as a result of the Covid-19 pandemic's breakout and slow expansion, industries with critical necessities, such as delivering food and goods safely to consumers, are becoming progressively impacted. The severe disruptions in various manufacturing and the supply-chain operations due to the various precautionary lockdowns imposed by governments to curb the spread of disease led to huge financial setback for the market. The global impact has resulted in a substantial decrease in demand for certain forms of packaging that are deemed non-essential. Over the forecast period, the aforementioned determinants will weigh the market's revenue trajectory over the forecast period

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Major Players in Bio-Based Polymer markets are:

Dow (U.S.), NatureWorks LLC (U.S.), Braskem (Brazil), BASF SE (Germany), TotalEnergies Corbion bv (Netherlands), Novamont SpA (Italy), Biome Bioplastics (UK), PTT Global Chemical Public Company Limited (Thailand), Mitsubishi Chemical Holding Corporation (Japan), Biotec (Germany), Mapei S.p.A (Italy), SOLVAY (Belgium), DAIKIN (Japan), Toray Industries, Inc., (Japan), KURARAY CO., LTD. (Japan), Dupont (U.S.) and Plantic (Australia)

Global Bio-Based Polymer Market Segmentation:

The bio-based polymer market is segmented on the basis of type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

Polyethylene
Polyamide
Polylactic Acid
Polyethylene Terephthalate (PET)
Others
Application

Textile
Automotive
Industrial
Agriculture
Packaging

Bio-Based Polymer Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

High Demand From Packaging Industry

One of the most important markets for bio-based polymers is packaging. These polymers provide outstanding clarity and gloss and resistance to food fats and oils and an aroma barrier. They also add stiffness, twist retention, and printability to the package. Bio-based polymers are widely utilized in supermarket fruit and vegetable packaging, bread bags and bakery boxes, bottles, envelopes and display carton windows, and shopping or carrier bags, among other applications. Therefore, high utilization of bio-based polymer in the packaging industry is estimated to carve a way for the market's growth.

Furthermore, the stringent regulatory policies on the consumption of synthetic polymers will further propel the growth rate of bio-based polymer market. Additionally, the favorable government initiatives toward bio-based polymers will also drive market value growth. The decrease in dependency on petroleum resource is projected to bolster the market's growth.

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Opportunities

Eco-Friendly Polymers And Customer Awareness
Furthermore, the increased inclination of the population towards eco-friendly polymers to protect the ecosystem and ordinance on un-degradable polymers in various nations extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the progressing customer awareness in advanced and emerging countries and non-poisonous characteristics of biodegradable polymers will further expand the future growth of the bio-based polymer market.

Restraints/Challenges

High Costs
The high costs as compared to petroleum derivate polymers will create hindrances for the growth of the bio-based polymer market.

Low Awareness

Also, dearth of awareness within the developing regions will prove to be a demerit for the bio-based polymer market. Therefore, this will challenge the bio-based polymer market growth rate.

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Bio-Based Polymer Market Regional Analysis/Insights
The bio-based polymer market is analyzed and market size insights and trends are provided by country, type and application as referenced above.

The countries covered in the bio-based polymer market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Europe dominates the bio-based polymer market because of the unrestricted information and government enterprises in the nation have encouraged the application of biodegradable polymers in courier packs, food packaging, cooking assistance, and caddy bin liner bags, among others within the region. On the other hand, Asia-Pacific is estimated to show lucrative growth due to the abundance of raw material, favorable government policies, and increase in demand for bio-based polymers from consumer goods segment within the region.

Some Points from Table of Content:

Market Overview: It includes six chapters, research scope, major manufacturers covered, market segments by type, Bio-Based Polymer market segments by application, study objectives, and years considered.

Market Landscape: Here, the competition in the Worldwide Bio-Based Polymer Market is analyzed, by price, revenue, sales, and market share by company, market rate, competitive situations Landscape, and latest trends, merger, expansion, acquisition, and market shares of top companies.

Profiles of Manufacturers: Here, leading players of the global Bio-Based Polymer market are studied based on sales area, key products, gross margin, revenue, price, and production.

Market Status and Outlook by Region: In this section, the report discusses about gross margin, sales, revenue, production, market share, CAGR, and market size by region. Here, the global Bio-Based Polymer Market is deeply analyzed on the basis of regions and countries such as North America, Europe, China, India, Japan, and the MEA.

Application or End User: This section of the research study shows how different end-user/application segments contribute to the global Bio-Based Polymer Market.

Market Forecast: Production Side: In this part of the report, the authors have focused on production and production value forecast, key producers forecast, and production and production value forecast by type.

Research Findings and Conclusion: This is one of the last sections of the report where the findings of the analysts and the conclusion of the research study are provided.

TOC of This Report @https://www.databridgemarketresearch.com/toc/?dbmr=global-bio-based-polymer-market

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