Bio Polymers Market Summary
As per MRFR Analysis, the Global Bio Polymers Market was valued at USD 11.50 Billion in 2022 and is projected to grow from USD 14.71 Billion in 2023 to USD 37.16 Billion by 2030, with a CAGR of 15.79% during the forecast period. The market is driven by a shift towards biodegradable plastics, reducing reliance on conventional non-biodegradable options. The Asia Pacific region is the largest and fastest-growing market, fueled by increasing demand for sustainable materials and favorable government policies. Key applications include packaging, medical equipment, and automotive components, with biodegradable polyesters leading the market share in 2022.
Key Market Trends & Highlights
The Bio Polymers market is witnessing significant trends driven by consumer preferences and technological advancements.
- The market for bioplastics is expanding due to rising consumer awareness of sustainable alternatives to conventional plastics.
- Biodegradable plastics break down faster than traditional plastics, enhancing their appeal in waste management.
- The Bottles segment dominated the market, driven by demand in food, beverage, and pharmaceutical industries.
- Asia Pacific is the largest market, with major consumers including China, Japan, and India, supported by local production capacities.
Market Size & Forecast
2022 Market Size: USD 11.50 Billion
2023 Market Size: USD 14.71 Billion
2030 Market Size: USD 37.16 Billion
CAGR: 15.79%
Largest Regional Market: Asia Pacific.
Major Players
Key companies include Novamont, BASF, Braskem, NatureWorks, Biome Bioplastics, Mitsubishi Chemical Holding Corporation, Biotec, Toray Industries, Plantic Technologies, TotalEngies, and Corbion.
Bio Polymers Market Trends
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A change in customer preference in favor of biodegradable plastics
The market for bioplastics is expanding along with initiatives to reduce the usage of conventional plastics that are non-biodegradable and raise knowledge of sustainable plastic alternatives. Conventional plastics can spend a long time in landfills since they take decades to disintegrate and are mainly made of petroleum. The rate of breakdown of biodegradable plastics by the actions of microorganisms is substantially faster than that of conventional plastics. Biodegradable plastics break down faster when they are discarded and can be absorbed back into the natural system. A greater number of individuals are switching to biopolymers as a result of this rising consumer awareness.
IFF's Pharma Solutions division plans to unveil new products and investments during this year's CPHI in Barcelona in 2023. OSP was fortunate enough to catch up with them before the event begins next week.At the event, IFF will showcase its portfolio of low nitrate solutions for the pharmaceutical business and expect to give visitors a first-hand look at its most recent inventions, such as Methanova, a cell-compatible and filterable methylcellulose for the biotechnology industries.
Gulf Biopolymers Industries (GBI) will join Khalifa Economic Zones Abu Dhabi (KEZAD) Group, a leader in economic zone management, in 2024. GBI will open the Middle East's first factory to make biodegradable and recyclable polylactic acid (PLA) polymers.
Bio Polymers Market Segment Insights
Bio Polymers Type Insights
The market segmentation, based on Type, includes Bio-PE, Bio-PET, Polylactic acid (PLA), Polyhydroxyalkanoate (PHA), Biodegradable Polyesters, and Others. The Biodegradable Polyesters segment holds the majority share in 2022, contributing to the global Bio Polymers revenue. The market for biodegradable plastics has grown, which has relieved recycling pressures and reduced trash creation. In addition to orthopedic devices, wound management, surgical sutures, and drug delivery systems, the category primarily finds uses in packaging, medical equipment, automotive, consumer goods, consumer goods, textiles, and consumer goods. These factors are driving the segment growth in the market.
Bio Polymers Application Insights
Based on Application, the market segmentation includes Films, Bottles, Fibers, Seed Coating, Vehicle Components, Medical Implants, and Others. The Bottles segment dominated the market.
Bio Polymers End-Use Insights
Based on End-Use, the market segmentation includes Packaging, Agriculture, Automotive, Pharmaceutical, Construction, and Others. The Packaging segment is the largest segment of the market. Products are protected with packaging to prevent breakage and contamination while being stored and distributed. The market segment growth is being driven by the rising demand for packaging made of bioplastics and biopolymers in the food and beverage, pharmaceutical, and consumer goods industries. Moreover, rising consumer spending power, an expanding population, and an increase in e-commerce are all elements that are promoting category growth.
Figure 2: Bio Polymers Market, by Type, 2022 & 2030 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Bio Polymers Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia Pacific region is currently the largest and fastest-growing market for biopolymers. This can be attributed to various factors, including the growing demand for sustainable materials, increasing environmental concerns, and favorable government policies and regulations supporting the use of bio-based products. Countries such as China, Japan, and India are the major consumers of bio-polymers in the Asia Pacific region, driven by the growing demand for bio-based packaging, textiles, automotive, and construction materials. The region also has a significant production capacity for bio-polymers, with several leading manufacturers located in countries such as China, Thailand, and Malaysia.
Figure 3: BIO POLYMERS MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Bio Polymers Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the market grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Bio Polymers industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Bio Polymers industry to benefit customers and expand the market sector. Major market players, including Mitsubishi Chemical Holding Corporation, Biotec, Toray Industries, Novamont, BASF, and others, are attempting to increase market demand by funding R&D initiatives.
Toray Industries, Inc. is a multinational corporation. Toray operates through various business segments, including Fibers & Textiles, Performance Chemicals, Carbon Fiber Composite Materials, Environment & Engineering, and Life Science. The Fibers & Textiles segment is the largest segment of Toray's business, producing synthetic fibers and textiles for use in clothing, industrial materials, and automotive components. The Performance Chemicals segment produces a range of specialty chemicals used in electronics, construction, and other industries. The Carbon Fiber Composite Materials segment produces carbon fiber reinforced plastics (CFRP) used in aerospace, automotive, and sporting goods applications. The Environment & Engineering segment produces membranes for use in water purification and wastewater treatment, systems, and equipment for producing and supplying energy. The Life Science segment is focused on developing pharmaceuticals and medical devices, including biodegradable polymers and other materials used in medical applications.
Novamont is a global leader in the development and production of bioplastics and biodegradable materials. The company's mission is to promote a sustainable and circular economy by developing products that are fully biodegradable and compostable. Novamont produces a range of bioplastics, including Mater-Bi, a biodegradable biopolymer made from renewable sources such as cornstarch, and Origo-Bi, a biodegradable polyester. These materials are used in various applications, such as packaging, agriculture, and disposable products.
Key Companies in the Bio Polymers market include
- Mitsubishi Chemical Holding Corporation
Bio Polymers Industry Developments
March 2022: NatureWorks signed an agreement with ABB technology for the automation of a new bioplastics plant in Thailand. The advancements are aimed at expanding the production capacity of polylactic acid (PLA) to cater to the growing industry demand for sustainable materials.
Bio Polymers Market Segmentation
Bio Polymers Type Outlook
- Polyhydroxyalkanoate (PHA)
Bio Polymers Application Outlook
Bio Polymers End-Use Outlook
Bio Polymers Regional Outlook
| Attribute/Metric |
Details |
| Market Size 2022 |
USD 11.50 Billion |
| Market Size 2023 |
USD 14.71 Billion |
| Market Size 2030 |
USD 37.16 Billion |
| Compound Annual Growth Rate (CAGR) |
15.79% (2023-2030) |
| Base Year |
2022 |
| Market Forecast Period |
2023-2030 |
| Historical Data |
2018 & 2022 |
| Market Forecast Units |
Value (USD Million) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Material, Product, Application, End-User, and Region |
| Geographies Covered |
North America, Europe, Asia Pacific, and Rest of the World |
| Countries Covered |
The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled |
Novamont SpA, BASF SE, Braskem, NatureWorks LLC, Biome Bioplastics, Mitsubishi Chemical Holding Corporation, Biotec, Toray Industries, Plantic Technologies, TotalEngies Corbion |
| Key Market Opportunities |
Industrialization Increased standard of living in countries |
| Key Market Dynamics |
Increasing demand for biopolymers by bioplastic manufacturers to produce bioplastic films Rising demand for biopolymers |
Bio Polymers Market Highlights:
Frequently Asked Questions (FAQ) :
The Bio Polymers Market size was valued at USD 11.50 Billion in 2022.
The global market is projected to grow at a CAGR of 15.79% during the forecast period, 2023-2030.
Asia Pacific had the largest share of the Bio Polymers Market.
The key players in the market are Novamont SpA, BASF SE, Braskem, NatureWorks LLC, Biome Bioplastics, Mitsubishi Chemical Holding Corporation, Biotec, Toray Industries, Plantic Technologies, TotalEngies Corbion.
The Biodegradable Polyesters category dominated the market in 2022.
The Packaging segment had the largest share of the global market for Bio Polymers.
