Bio Polymers Market Research Report - Global Forecast till 2030

Bio Polymers Market Research Report Information By Type (Bio-PE, Bio-PET, Polylactic acid (PLA), Polyhydroxyalkanoate (PHA), Biodegradable Polyesters, Others), By Application (Films, Bottles, Fibers, Seed Coating, Vehicle Components, Medical Implants, Others), By End-Use (Packaging, Agriculture, Automotive, Pharmaceutical, Construction, Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030.

ID: MRFR/CnM/2191-HCR | 140 Pages | Author: Anshula Mandaokar | February 2024         

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Global Bio Polymers Market Overview


The Bio Polymers Market Size was valued at USD 11.50 Billion in 2022. The Bio Polymers industry is projected to grow from USD 14.71 Billion in 2023 to USD 37.16 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 15.79% during the forecast period (2023 - 2030). Moldable plastic is made from chemical compounds has been considered from or combined with microorganisms like bacteria or genetically modified plants. Bioplastics are generally made of thermoplastics from bio-based materials such as sugar, starch, and seaweed. Biopolymers are one of the broadest categories of materials, including bioplastics and natural polymers like silk, wool, or chitosan. Starch, cellulose, and alginate are one of the key factors of polysaccharides that have linear or branched polymeric carbohydrates. Natural rubbers like polymers of isoprene, suberin, and lignin like the complex of polyphenol polymers, and cutin as the complex of polymers of a long-lasting chain of fatigue acids, are examples of bio-polymers.
Bio Polymers Market Overview
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Bio Polymers Market Trends




  • 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.


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)
Bio Polymers Market, by Type, 2022 & 2030
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 (%)
BIO POLYMERS MARKET SHARE BY REGION
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



  • Novamont

  • BASF

  • Braskem

  • NatureWorks

  • Biome Bioplastics

  • Mitsubishi Chemical Holding Corporation

  • Biotec

  • Toray Industries

  • Plantic Technologies

  • TotalEngies Corbion


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



  • Bio-PE

  • Bio-PET

  • Polylactic acid (PLA)

  • Polyhydroxyalkanoate (PHA)

  • Biodegradable Polyesters

  • Others


Bio Polymers Application Outlook



  • Films

  • Bottles

  • Fibers

  • Seed Coating

  • Vehicle Components

  • Medical Implants

  • Others


Bio Polymers End-Use Outlook



  • Packaging

  • Agriculture

  • Automotive

  • Pharmaceutical

  • Construction

  • Others


Bio Polymers Regional Outlook




  • North America



    • US

    • Canada


     




  • Europe



    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe


     




  • Asia-Pacific



    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific


     




  • Rest of the World




    • Middle East




    • Africa




    • Latin America





Report Scope:

Report 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




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.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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