Biopolymers Market to Cross $90.21 billion Revenue by 2030

Biopolymers Market Overview

“The Biopolymers Market Predictable at $32.58 billion in 2022, is estimated to increase at a CAGR of 10.52% from $38.56 billion in 2023 to $90.21 billion by 2030.”

Bioplastics are flexible plastics made from bio-based components like sugar, kelp, and starch. They are thermoplastics and are used in the production of biopolymers, which include traditional polymers like silk, chitosan, and fleece. Biopolymers include natural rubbers, suberin, lignin, cutin, and melanin. These materials are created from human and animal waste, plant products, and agricultural waste, which are then reused and transformed into new objects using advanced technology.

Legislators are promoting the use of biodegradable polymers, with major automakers like Ford incorporating biopolymers into their vehicles for internal applications to reduce carbon footprint.

Pulverize, made from sugarcane ethanol, produces bio-based PE, primarily used in films for various industries like horticulture, packaging, and vehicles. Tough guidelines like the Montreal and Kyoto Protocols by EPA and EC are expected to boost interest in bio-based PE. Biopolymers are used in packaging to create contract films, bottles, shed boxes, pockets, biodegradable sacks, and films. These films and holders offer sustainable, environmentally friendly images and specialized properties.

Biopolymers are essential in the consumer products industry due to their warm solidness, adaptability, gas obstruction, water boundary, synthetic compound protection, biocompatibility, and biodegradability. They are used in furniture, outdoor equipment, and personal care items like lipsticks, clean napkins, and lotions.

The global biopolymers market is expected to grow due to factors such as crude oil price fluctuations, limited petroleum access, and biological concerns. Changes in governmental conditions and regulations on fossil fuel waste and plastic usage are also expected to support the market. Despite being a niche market, biopolymers are expected to grow rapidly due to their cost-effectiveness and biodegradability, making them a cost-effective choice for executives. Additionally, biopolymers can help reduce carbon dioxide emissions.

>>> Download Sample Report Now: https://marketreportservice.com/request-sample/biopolymers-market-54423 

Key Takeaways

Europe had the biggest revenue share of roughly 42.52% in 2022.

In 2022, the bio-based PET segment had a revenue share of roughly 55%.

Market Dynamics

Growth Factors

Polymers and plastics, commonly used in coating and packaging, are primarily produced in the petroleum industry, a non-renewable energy source. This growth in plastic usage raises environmental concerns due to carbon emissions from ozone-depleting chemical discharges and soil and groundwater contamination.

The demand for climate-friendly alternatives is increasing, leading to the development of bio-based plastics and polymers in the near future. These biopolymers degrade when exposed to wetness and intensity, like when small animals are active.

• Land contamination is becoming more prevalent.
• Increased prevalence of chronic diseases as a result of inadvertent ingestion.
• Customers all over the world are becoming more interested in eco-friendly items.

Growth Drivers

Shift in consumer preference towards eco-friendly plastic products-

The market development of bioplastics is driven by consumer awareness of sustainable plastic solutions and efforts to avoid non-biodegradable ordinary plastics. Conventional plastics, primarily oil-based, take longer to separate and degrade, leading to long landfill stays. Biodegradable polymers degrade faster when discarded and are absorbed back into the natural framework, with faster breakdown rates by microbes.

Biodegradable plastics separate 60% or more in 180 days, compared to traditional plastics which take 1,000 years. This has led to increased landfills and rubbish piles, posing severe ecological threats and negative impacts on the biological system.

Consumer awareness of the negative effects of traditional plastics is driving the use of biodegradable polymers. Common polymers, like PVC, can cause health risks due to their toxic composition. This has led to an increased interest in products that are safe for human health. As a result, growing consumer awareness and administrative legislation are promoting the use of bio-based products like biodegradable plastics and bio-based plastics.

challenges 

Bioplastics are more expensive than regular plastics.

Bioplastics are gaining market share due to their higher cost compared to traditional polymers. The production cost of bio-based polymers is typically 20% to 100% higher than standard polymers, primarily due to the high polymerization cost. PHAs, for instance, have high production costs, low yields, and limited accessibility in various applications. PLAs, with lower production costs, are even more expensive. This is due to the formative stage of bioplastics and the lack of economies of scale.

Bio-based materials are in the development stage and have not been as widely marketed as their petrochemical counterparts. Currently, biodegradable plastics cost between USD 2/kg and USD 6/kg compared to conventional plastics. This is due to higher R&D and production expenses, limited scope creation, and a significant cost difference compared to conventional oil-based plastics, limiting their entry into many industries.

Opportunities

Bioplastics and biopolymers market manufacturers in emerging APAC nations are utilizing natural and inorganic approaches for development. Total Corbion established a PLA Plant in Rayong, Thailand in 2019, with a production capacity of 75,000 tons per year. Indonesia is exploring bioplastic alternatives like kelp, while Evoware provides licensed ocean growth-based packaging.

Climate change standards are expected to increase interest in bioplastics in Southeast Asia due to its abundant bio-based feedstock and its proximity to sustainable natural components. The expansion of guidelines and easy access to feedstock will help sustain interest in bioplastics within the estimated time range.

Competitive Landscape of the Biopolymers Market

• Novamont (Italy)
• Biome Bioplastics (UK)
•  Mitsubishi Chemical Holding Corporation (Japan)
•  Biotec (Germany)
• Toray Industries (Japan)
• Plantic Technologies (Australia)
• NatureWorks (US)
• Braskem (Brazil)
• BASF (Germany)
• Total Corbion (Netherlands)

Recent Developments in Biopolymers Market

In April 2021, NatureWorks reported another essential organization with IMA Coffee, which is a market chief in espresso taking care of handling and packaging. This organization targets expanding the market go after high-performing compostable K-cup in North America.

In August 2019, Braskem and Ledesma (Argentina), maker of regular agro-industrial items, have teamed up to convey Ledesma + Bio, which is a line of 100 percent sustainable journals made completely of sugarcane. Such drives are supposed to take special care of the requirements of the bioplastics and biopolymers market.

In October 2022, I'm Green TM biopolymers, which are plastics made from sugarcane, are now being produced by Braskem, the world's largest producer of biopolymers and America's largest resin maker. Braskem is investing over USD 60 million to boost its I'm Green TM biopolymer production capacity by 30%. This demonstrates Braskem's commitment to the circular economy and its objective of becoming carbon neutral by 2050, and it is a crucial step toward a global change in the industry as a whole. The company is also investigating the possibility of setting up a new I'm Green TM biopolymer factory in Thailand

In July 2022, A novel rice-derived biopolymer for mattifying skin care products has been introduced by BASF SE. According to BASF SE's care creation business, Verdessence RiceTouch is a natural sensory powder made from non-GMO rice farmed in the European Union. The newly developed cosmetic ingredient was developed to absorb various oils, hence eliminating greasy flavors in products and skin greasiness

Regional Insights

Europe's commercial dominance is due to strict law and order policies

Europe is the dominant buyer of biopolymers globally, with North America expected to offer significant growth by the end of 2016. Asia Pacific is also expected to experience rapid growth in the global biopolymers market, with Europe expected to remain dominant due to regulations and norms.

Rapid industrialization and the need to control contamination from synthetic plastics and polymers in Latin America, the Middle East, and Africa are driving investment in biopolymer innovation.

Segments Covered in the Biopolymers Market

Biopolymers Market By Type

• Biodegradable
• Non-Biodegradable/Biobased

Biopolymers Market By Application

• Films
• Bottles
• Fibers
• Seed Coating
• Vehicle Components
• Medical Implants
• Others 

Biopolymers Market By End User

• Packaging
• Consumer Goods
• Automotive & Transportation
• Textiles
• Agriculture & Horticulture
• Others

Biopolymers Market By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)

Frequently Asked Questions:

What is the current size of biopolymers market?

The Biopolymers Market Predictable at $32.58 billion in 2022, is estimated to increase at a CAGR of 10.52% from $38.56 billion in 2023 to $90.21 billion by 2030.

What will be the CAGR of global biopolymers market?

The global biopolymers market is poised to grow at a CAGR of 10.52% from 2023 to 2030.

Who are the prominent players operating in the biopolymers market?

The major players operating in the biopolymers market are NatureWorks (US), Braskem (Brazil), BASF (Germany), Total Corbion (Netherlands), Novamont (Italy), Biome Bioplastics (UK), Mitsubishi Chemical Holding Corporation (Japan), Biotec (Germany), Toray Industries (Japan) and Plantic Technologies (Australia)

Which are the driving factors of the biopolymers market?

Biopolymers market is driven by increasing prevalence of chronic diseases due to its consumption by mistake and the rising demand for the eco-friendly products among customers worldwide.

1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

3. Executive Summary

3.1. Market Snapshot

4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis 

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

5. COVID 19 Impact on Biopolymers Market 

5.1. COVID-19 Landscape: Biopolymers Industry Impact

5.2. COVID 19 - Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

8. Global Biopolymers Market, By Type

8.1. Biopolymers Market, by Type, 2022-2030

8.1.1 Biodegradable

8.1.1.1. Market Revenue and Forecast

8.1.2. Non-Biodegradable/Biobased

8.1.2.1. Market Revenue and Forecast

9. Global Biopolymers Market, By Application

9.1. Biopolymers Market, by Application, 2022-2030

9.1.1. Films

9.1.1.1. Market Revenue and Forecast

9.1.2. Bottles

9.1.2.1. Market Revenue and Forecast

9.1.3. Fibers

9.1.3.1. Market Revenue and Forecast

9.1.4. Seed Coating

9.1.4.1. Market Revenue and Forecast

9.1.5. Vehicle Components

9.1.5.1. Market Revenue and Forecast

9.1.6. Medical Implants

9.1.6.1. Market Revenue and Forecast

9.1.7. Others

9.1.7.1. Market Revenue and Forecast

10. Global Biopolymers Market, By End User 

10.1. Biopolymers Market, by End User, 2022-2030

10.1.1. Packaging

10.1.1.1. Market Revenue and Forecast

10.1.2. Consumer Goods

10.1.2.1. Market Revenue and Forecast

10.1.3. Automotive & Transportation

10.1.3.1. Market Revenue and Forecast

10.1.4. Textiles

10.1.4.1. Market Revenue and Forecast

10.1.5. Others

10.1.5.1. Market Revenue and Forecast

10.1.6. Agriculture & Horticulture

10.1.6.1. Market Revenue and Forecast

10.1.7. Others

10.1.7.1. Market Revenue and Forecast

11. Global Biopolymers Market, Regional Estimates and Trend Forecast

11.1. North America

11.1.1. Market Revenue and Forecast, by Type

11.1.2. Market Revenue and Forecast, by Application

11.1.3. Market Revenue and Forecast, by End User

11.1.5. Rest of North America

11.1.5.1. Market Revenue and Forecast, by Type

11.1.5.2. Market Revenue and Forecast, by Application

11.1.5.3. Market Revenue and Forecast, by End User

11.2. Europe

11.2.1. Market Revenue and Forecast, by Type

11.2.2. Market Revenue and Forecast, by Application

11.2.3. Market Revenue and Forecast, by End User

11.2.7. Rest of Europe

11.2.7.1. Market Revenue and Forecast, by Type

11.2.7.2. Market Revenue and Forecast, by Application

11.2.7.3. Market Revenue and Forecast, by End User

11.3. APAC

11.3.1. Market Revenue and Forecast, by Type

11.3.2. Market Revenue and Forecast, by Application

11.3.3. Market Revenue and Forecast, by End User

11.3.7. Rest of APAC

11.3.7.1. Market Revenue and Forecast, by Type

11.3.7.2. Market Revenue and Forecast, by Application

11.3.7.3. Market Revenue and Forecast, by End User

11.4. MEA

11.4.1. Market Revenue and Forecast, by Type

11.4.2. Market Revenue and Forecast, by Application

11.4.3. Market Revenue and Forecast, by End User

11.4.7. Rest of MEA

11.4.7.1. Market Revenue and Forecast, by Type

11.4.7.2. Market Revenue and Forecast, by Application

11.4.7.3. Market Revenue and Forecast, by End User

11.5. Latin America

11.5.1. Market Revenue and Forecast, by Type

11.5.2. Market Revenue and Forecast, by Application

11.5.3. Market Revenue and Forecast, by End User

11.5.5. Rest of LATAM

11.5.5.1. Market Revenue and Forecast, by Type

11.5.5.2. Market Revenue and Forecast, by Application

11.5.5.3. Market Revenue and Forecast, by End User

12. Company Profiles

12.1. NatureWorks (US)

12.2. Braskem (Brazil)

12.3. BASF (Germany

12.4. Total Corbion (Netherlands)

12.5. Novamont (Italy)

12.6. Biome Bioplastics (UK)

12.7. Mitsubishi Chemical Holding Corporation (Japan

12.8. Biotec (Germany)

12.9. Toray Industries (Japan)

12.10. Plantic Technologies (Australia)

13. Research Methodology

13.1. Primary Research

13.2. Secondary Research

13.3. Assumptions

14. Appendix

14.1. About Us

14.2. Glossary of Terms

Segments Covered in the Biopolymers Market

Biopolymers Market By Type

• Biodegradable
• Non-Biodegradable/Biobased

Biopolymers Market By Application

• Films
• Bottles
• Fibers
• Seed Coating
• Vehicle Components
• Medical Implants
• Others 

Biopolymers Market By End User

• Packaging
• Consumer Goods
• Automotive & Transportation
• Textiles
• Agriculture & Horticulture
• Others

Biopolymers Market By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)