Press release
Biopolymers Market to Develop New Growth Story 2024 - 2031 | BASF SE, TotalEnergies Corbion, Novamont S.P.A
Biopolymers Market
The Global Biopolymers Market is estimated to be valued at USD 19.46 Bn in 2024 and is expected to reach USD 40.67 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 11.1% from 2024 to 2031.
Market Dynamics:
The biopolymers market is expected to witness significant growth over the forecast period owing to increasing demand from packaging industry. Around 60-70% of bioplastics productions are used in packaging applications. Growing concerns regarding plastic waste and single use plastics have prompted packaging manufacturers to shift toward biodegradable and sustainable packaging options. Additionally, favorable government policies and regulations regarding use of biodegradable polymers are also contributing to the market growth. For instance, European Union has mandated use of biodegradable plastics for certain packaging applications such as plastic carrier bags. Furthermore, efforts by leading companies to increase productions capacities of PLA and other bio-based polymers in order to cater growing demand from end use industries are further expected to propel the market growth during forecast period.
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Growing Demand for Biodegradable and Sustainable Products is Driving the Biopolymers Market
The ever increasing concerns over climate change and environmental degradation has driven the demand for sustainable and biodegradable products. Consumers are increasingly preferring products that have less environmental impact over the ones generated from petroleum sources. Biopolymers offer a sustainable alternative to traditional plastics as they are produced from renewable plant-based sources like corn, sugarcane or cellulosic biomass. Properties of many biopolymers such as polylactic acid (PLA) and polyhydroxyalkanoates (PHA) closely resemble petroleum-based plastics, allowing them to be used in similar applications. Their biodegradability and sustainability is a big advantage driving more manufacturers and brand owners to replace traditional plastics with biopolymers. Food packaging, disposable tableware and shopping bags manufactured using biopolymers are gaining more traction in the market.
Opportunities for Innovation in New Application Areas and Advanced Biopolymer Variants
While PLA, PHA, PBS etc. are the commonly known biopolymer types, there still exists vast room for innovation in discovering and developing newer biomaterial varieties tailored for specific use cases. Biopolymers mimicking properties of specialty plastics like polycarbonate and polyurethane could capture more sophisticated industries. Companies investing in R&D are working on generating biopolymer blends, alloys, composites and films with superior physical and barrier qualities than existing options. Expanding applications from just packaging to fibers, medical devices, automotive and 3D printing presents lucrative opportunities. Furthermore, emerging technologies such as genetic modification, metabolic engineering and synthetic biology may usher in next-generation advanced biopolymers more intelligent than native varieties. Successful commercialization of such innovative bioplastics produced through novel approaches can disrupt as well as stimulate growth in the biopolymers market.
Increasing Demand for Thermoplastic Starch Boosting Starch-Based Biopolymers Market
Thermoplastic starch or TPS is a biodegradable biopolymer derived from starch. It exhibits thermoplastic behavior and can be molded like conventional plastics. TPS processing also requires less energy than production of petro-based polymers. This has driven its use especially in short-life packaging applications. Global starch production has been rising steadily to meet food as well as industrial needs including TPS production. Asia Pacific dominates the major starch surplus regions with ample supply from China and India augmenting TPS manufacturing
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Top Companies Featured in This Report:
★ BASF SE
★ TotalEnergies Corbion
★ Novamont S.P.A
★ Biome Bioplastics Limited
★ BIOTEC Biologische Naturverpackungen GmbH & Co. KG.
★ Plantic Technologies Limited
★ Toray Industries Inc.
★ Arkema
★ Kaneka Corporation
★ Danimer Scientific
★ NatureWorks LLC
★ FKuR
★ Solanyl Biopolymers Inc.
★ Braskem
★ Prime Biopolymers
★ Nurel
★ Futerro
★ Mitsubishi Chemical Group Corporation
★ PTT MCC Biochem Co., Ltd.,
Market Segmentation:
By Product Type:
★ By Type: Bio-PE, Bio-PET, PLA, PHA, Biodegradable Plastics, and Others
★ By End-Use Industry: Packaging, Textile, Automobile & Transport, Electronics & Electricals, Coatings & Adhesives, Agriculture & Horticulture, and Others (Building & Construction, etc.)
By Applications:
★ By Applications : Films, Bottle, Fibers, Seed Coating, Vehicle Components, Medical Implants, and Others
Key Regions/Countries Classified as Follows:
» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Key Inquiries Addressed in this Report include:
📈 What was the size of the Biopolymers Market in 2024, and what is the projected value by 2031?
📈 What is the present global market landscape for the Biopolymers Market?
📈 What strategies offer optimal opportunities for growth maximization in the business?
📈 What recent trends are shaping the Biopolymers Market?
📈 How does the market share of Biopolymers Market revenue, sales, and size vary across specific geographical regions?
📈 Who are the prominent industry players in the Biopolymers Market?
📈 Which segment of the Biopolymers Market is experiencing heightened demand?
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the Biopolymers sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
💎 Request For Customization at: @ https://www.coherentmarketinsights.com/insight/request-customization/2508
Author Bio:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)
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