Bio-based Polymers Market 2024 Emerging Trends and Will Generate New Growth Opportunities with a CAGR of 12.3% 2030 | Braskem, Novamont, Kingfa Sci.&Tech, BASF

QY Research's latest report 'Bio-based Polymers Market 2024 Report' is a cornerstone of global industries, serving as a foundational element for various sectors such as manufacturing, construction, healthcare, and agriculture. This expansive market encompasses a wide array of products, including specialty chemicals, polymers, metals, ceramics, and composites, among others. From enabling technological advancements to driving innovation and sustainability initiatives, the Bio-based Polymers market plays a pivotal role in shaping the modern world economy. This report provides an in-depth exploration of the trends, challenges, and opportunities within this dynamic market landscape.

The global Bio-based Polymers market was valued at US$ 3587 million in 2023 and is anticipated to reach US$ 8286 million by 2030, witnessing a CAGR of 12.3% during the forecast period 2024-2030.

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The report throws light on the competitive landscape, segmentation, geographical expansion, and revenue, production, and consumption growth of the Bio-based Polymers market. Bio-based Polymers Market Size, Growth Analysis, Industry Trend, and Forecast, offers details of the factors influencing the global business scope. This report provides future products, joint ventures, marketing strategy, developments, mergers and acquisitions, marketing, promotions, revenue, import, export, CAGR values, the industry as a whole, and the particular competitors faced are also studied in the large-scale market.

Global key players of Bio-based Polymers include Braskem, Novamont, Kingfa Sci.&Tech, BASF, NatureWorks, etc. The top five players hold a share about 45%. Europe is the largest market, and has a share about 36%, followed by China and Latin America with share 33% and 11%, separately. In terms of product type, Biodegradable is the largest segment, occupied for a share of 60%. In terms of application, Packaging Industry has a share about 35 percent.

Bio-based Polymers Market competitive landscapes provide details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breath, application dominance, technology lifeline curve. The data points provided are only related to the company's focus related to Bio-based Polymers markets. Leading global Bio-based Polymers market players and manufacturers are studied to give a brief idea about competitions.

The Bio-based Polymers market size, estimations, and forecasts are provided in terms of revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Bio-based Polymers market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided. For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.

Market Drivers:

The international community has basically reached a consensus that the main channel to address climate change is to develop a low-carbon economy. Fields such as biodegradable materials will become the main driving force leading the low-carbon development of the global chemical industry. Against this backdrop, it is expected that foreign markets represented by Europe and North America will continue to maintain a strong demand for biodegradable materials. With the growing demand for global biodegradable materials, my country's exports and domestic sales of biodegradable materials will continue to increase and maintain rapid growth. There are bioplastic substitutes for almost all traditional plastic materials and corresponding applications. Due to the strong development of polymers such as PHA (polyhydroxyalkanoate), polylactic acid (PLA), bio-based PA (polyamide) and the steady growth of bio-based polypropylene (PP), production capacity will continue to increase significantly in the next five years.

Market Restraint:

The IMF predicts that the world economy will continue to grow at a rate of 3.2% in 2024 and 2025, the same growth rate as in 2023. Economic growth in advanced economies will accelerate slightly, from 1.6% in 2023 to 1.7% in 2024 and 1.8% in 2025, but will be offset by a slight slowdown in growth in emerging market and developing economies. Offsetting this, the latter's growth is expected to fall from 4.3% in 2023 to 4.2% in 2024 and 2025. The forecast for global economic growth five years from now is 3.1%, the lowest level in decades. In addition, the global political landscape continues to be turbulent, and the Russia-Ukraine conflict has profoundly affected the future geopolitical landscape of the world. There is a profound geopolitical background and historical origin behind the Russia-Ukraine conflict. It is the result of the combined effect of multiple factors such as history and culture, ethnic conflicts, geopolitics, and the game of great powers. The situation in the Middle East continues to deteriorate, and the global political landscape is increasingly fragmented.

Market Opportunity:

Economists expect global inflation to decline in the coming years. In 2024, global inflation is expected to reach 4.6%, slow to 4.4% in 2025, and reach 4.0% in 2027. However, the report also believes that price pressures in many countries remain high, and further escalation of geopolitical conflicts may lead to another rise in inflation. It is expected that in about a quarter of developing countries, the annual inflation rate will exceed 10% in 2024.

Top Market Leader Included:

Braskem
Novamont
Kingfa Sci.&Tech
BASF
NatureWorks
DuPont
TotalEnergies Corbion
Zhejiang Hisun Biomaterials
Arkema
EMS-GRIVORY
Evonik
Cathay Biotech Inc

Detailed of Bio-based Polymers Market Segmentation: -

Segmentation By Type :-

Bio-Degradable
Non-Degradable

Segmentation By Application : -

Packaging
Agriculture
Automotive
Consumer Products
Others

Bio-based Polymers Market Geography: -

By Region

United States

Canada
Mexico
Brazil
China

APAC

Japan
South Korea
China
ASEAN
India

EMEA

Europe
Middle East
Africa

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Key Features Of The Study:-

ᗒ This report provides in-depth analysis of the global Bio-based Polymers market, and provides market size (us$ million) and cagr for the forecast period (2024-2030), considering 2022 as the base year.

ᗒ This report profiles key players in the global Bio-based Polymers market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Bio-based Polymers sales data, market share and ranking.

ᗒ This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.

ᗒ This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.

ᗒ The global Bio-based Polymers market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.

Important questions answered in the report includes of:

ᗒ How will the market for the Bio-based Polymers Market industry grow in 2024?

ᗒ Which well-known major companies will drive the market's growth?

ᗒ Which size of business held the biggest market share for data center?

ᗒ What is the market's Compound Annual Growth Rate (CAGR) for the 2024-2030 forecast period?

ᗒ What is the primary factor driving the market's expansion?

ᗒ In the market, which region held the highest market share?

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