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Need to Reduce Dependency on Petrochemicals Fuels Growth of Global Biopolymers Market

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Published on : Feb 07, 2017

ALBANY, New York, Feb 07, 2017: The report delves into the reasons for the rising popularity of biopolymers over petroleum-based polymers leading to the double-digit growth of the biopolymers market. The report presents an in-depth analysis of the market dynamics and technological developments that will have an impact on the growth of the global biopolymers market in the coming years. The report also covers the current competitive structure and how it is expected to change in the next few years.

According to the report, the global biopolymers market is expected to register a CAGR of 16.83% between 2017 and 2021. The report mentions top players in the global biopolymers market, namely Arkema, NatureWorks, Plantic, BASF, and Novamont. Other prominent vendors include Braskem, DuPont, Ecospan, Meredian Holdings Group, Evonik Industries, Toray Industries, and DSM.

The increasing emphasis from governments for the use of biopolymers and the need for efficient plastic waste management is the major factor driving the global biopolymers market. The utilization of biopolymers is regarded as a step toward sustainable development and the need to reduce dependency on petrochemicals, which are nearing exhaustion. Moreover, the emergence of bio-based raw and renewable raw materials and the changing consumer preference for the same is boosting the growth of this market.

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However, the growth of the market is restricted due to certain factors. The cost-effectiveness of conventional plastic over biopolymer based plastics is limiting the production of the latter over the former. The relatively new discovery of biopolymers two decades ago accounts for the limited production capacity of these polymers. The complexity involved in adopting biopolymers over synthetic polymers is also restraining the growth of this market.

Nevertheless, the need for the adoption of sustainable products will present growth opportunities to this market. Polymers are petrochemical derivatives and have been drawing the attention of environmentalists across the world. Currently, polymers account for 80% of the total polymeric production worldwide. However, governments and environmental agencies are striving for the production of biopolymers for a sustainable solution in the long run. The increased focus of automotive manufacturers for the use of biopolymers will be beneficial to the market’s growth.

The report studies the global biopolymers market on the basis of type, end-use, and geography. In terms of type, PLA, biodegradable polyesters, biodegradable starch blends, bio-PE, and bio-PET are the segments of this market. On the basis of end-use, packaging and food services, consumer goods, agriculture and horticulture, and automotive are the segments of the market. The report divides the global biopolymers market into the regional segments of North America, Western Europe, and Rest of the world.

The analysis in the report on the global biopolymers industry is supported by extensive surveys carried out in various stages.

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