IMARC Group, a leading market research company, has recently releases report titled “Bio-Based Polymer Market Report by Type (Polyethylene (PE), Polyamide (PA), Polylactic Acid (PLA), Polyethylene Terephthalate (PET), and Others), Application (Packaging, Textile, Automotive, Industrial, Agriculture, and Others), and Region 2024-2032”, Offers a comprehensive analysis of the industry, which comprises insights on the bio-based polymer market growth.
How Big is the Bio-Based Polymer Market?
The global bio-based polymer market size reached US$ 8.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 13.3 Billion by 2032, exhibiting a growth rate (CAGR) of 5.6% during 2024-2032.
Industry Overview of Bio-Based Polymer
Bio-based polymers are derived from natural sources like algae, microorganisms, and plants. They are created either directly or through the synthesis of monomers, followed by polymerization. These polymers primarily utilize biogenic by-products, particularly glycerol obtained from biodiesel production, as their raw material. The appeal of bio-based polymers lies in their ability to replace fossil carbon with renewable carbon from biomass during manufacturing. Noteworthy advantages of these polymers include enhanced resistance to food fats, excellent clarity and gloss, superior aroma barrier, and exceptional twist retention and printability. Consequently, bio-based polymers find extensive applications across diverse industries such as food and beverages, agriculture, electronics, packaging, and healthcare.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/bio-based-polymer-market/requestsample
What are the growth prospects and trends in the bio-based polymer industry?
The market is primarily propelled by a strong emphasis on sustainable progress. As the attention to reduce reliance on traditional plastics increases, numerous global organizations are advocating for the use of biodegradable alternatives for beverage and snack packaging that are safe for consumption. In addition to this, various favorable policies and regulations implemented by governmental and non-governmental organizations across the globe are further opening up profitable opportunities for key players in the market.
Governments are not only discouraging the use of synthetic polymers but also imposing additional fees on the utilization of conventional plastics in shopping and packaging applications. The market is further stimulated by the increasing adoption of environmentally friendly chemicals in various end-use industries.
Factors, such as the growing preference for green polyethylene (PE) produced through microbial fermentation and the rising awareness of the ease of disposing biodegradable polymers are also contributing to the market growth.
Leading Companies Operating in the Global Bio-Based Polymer Industry:
- Arkema S.A.
- BASF SE
- Biome Bioplastics Limited
- Corbion N.V.
- FKuR Kunststoff GmbH
- Kuraray Co. Ltd.
- Mitsubishi Chemical Holdings Corporation
- Novamont S.p.A.
- Rodenburg Productie B.V.
- thyssenkrupp AG
- Toray Industries Inc.
Bio-Based Polymer Market Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Type:
- Polyethylene (PE)
- Polyamide (PA)
- Polylactic Acid (PLA)
- Polyethylene Terephthalate (PET)
- Others
Breakup by Application:
- Packaging
- Textile
- Automotive
- Industrial
- Agriculture
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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