Emerging Applications of Biopolymers across Various End Use Industries Drive the Demand for Biopolymers Market

 


Biopolymers are natural polymers derived from renewable biomass sources such as corn starch or sugarcane. They are sustainable and biodegradable in nature. Biopolymers are increasingly used in packaging, textiles, consumer durables and personal care products due to their properties of sustainability and degradability. They provide an eco-friendly alternative to plastics derived from petroleum sources.

The global Biopolymers Market is estimated to be valued at US$ 17428.96 Mn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The growth of the biopolymers market is majorly driven by the emerging applications of biopolymers across various end use industries like packaging, textiles, agriculture and consumer durables. There is growing demand for eco-friendly and sustainable materials and biopolymers fit that criteria well. Factors like bans on single use plastics and policies pushing for adoption of renewable materials are adding to growth. Biopolymers can effectively replace fossil fuel based plastics without compromising on performance or functionality. The advantages of biodegradability and renewability are spurring applications of biopolymers.

Segment Analysis

The global biopolymers market is dominated by the packaging and food services segment. This segment accounts for over 40% of the total market share currently due to the rising awareness about environment-friendly packaging materials among consumers as well as producers. Biopolymers are increasingly being used as an alternative to plastics in packaging applications such as food packaging films and bags. Compostable and biodegradable nature makes biopolymers suitable for single use as well as disposable food packaging products.

Key Takeaways

The Global Biopolymers Market Size is expected to witness high growth over the forecast period owing to stringent regulations regarding the use of plastics and policies encouraging the adoption of biodegradable and sustainable materials.

Regional analysis
Asia Pacific region currently holds the largest share in the global biopolymers market and is expected to maintain its dominance during the forecast years. The growth in this region is driven by countries like China, India, South Korea, Indonesia, and Japan due to growing awareness about advantages of sustainable polymers and favourable government policies supporting the use of renewable biomass derived polymers.

Key players operating in the biopolymers market are BASF SE, NatureWorks LLC, Braskem S.A., Novamont S.p.A., Du Pont, Plantic Technologies Ltd, Archer Daniels Midland Company, Danimer Scientific, Bio-on S.p.A., and Rodenburg Biopolymers B.V. BASF and NatureWorks are the leading players with strong product portfolio and global presence across developed markets.

For More Insights, Read: https://www.newsstatix.com/biopolymers-market-size-share-and-growth-forecast-2023-2030/

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