Biopolymers Market Revenue is Projected to Witness a CAGR of 18.6% by 2021 - IndustryARC Analysis

Global Biopolymers Market revenue in 2015 was $6.94 Billion and is projected to witness a CAGR of 18.6% by 2021 with major industry demand stemming from packaging and automotive application

Hyderabad, March 07, 2017 (GLOBE NEWSWIRE) -- The report, "Biopolymers Market: By Type (PLA, Biodegradable starch blends, Biodegradable polyesters, PHA, Bio-PE, Bio-PET); By Application (Rigid packaging, Flexible packaging, Textiles, Consumer goods, Agriculture & horticulture, automotive) - Forecast (2016-2021)", published by IndustryARC, the global Biopolymers Market revenue is forecast to grow at 18.6% CAGR 2021.

Browse 33 Market Tables, 55 Figures spread through 164 Pages and an in-depth TOC on "Biopolymers Market (2016 - 2021)"

Biopolymer is a variant of polymer that can be either bio-based or bio-degradable. It is stated as the most organic compound in the ecosphere. The name “Biopolymer” indicates that it is a bio-degradable polymer. The three major factors that define the evolution of bio-plastic industry are market demand, government mandates and technical maturity. In order to address the challenges of today’s modern scenario and society’s plunging demand for better sustainable solutions, many companies have started focusing upon the green aspect of the bio based plastics. As with conventional plastics, bio-plastics have a very broad application spectrum. Bio-plastics tend to have a generally very high consumer acceptance. It derives its use in various commercial applications which includes packaging, textiles, consumer goods, agriculture & horticulture, automotive and many more. Owing to the great packaging solutions with entirely novel functionalities, like biodegradability/ compostability, new materials such as PLA, PHA, cellulose or starch-based materials are used in consistently in packaging. Bioplastics are conquering entire packaging sector right from a niche product in organic trade to premium packaging for branded goods.

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Various factors are driving the inclination toward bioplastics. Consumers are expressing improved attentiveness in green products, healthier lifestyles along with restoring the environment. Consequently, businesses are reacting to government agencies, Non-Governmental Organizations (NGOs) and consumer demands for more eco-friendly products instigating the use of bioplastic instead of conventional polymers. Recently there is an increasing demand for environmentally friendly products in various applications such as packaging, textiles, automotive and more. Following this trend, many companies are coming forward with the introduction of eco-friendly bioplastics made up of natural feed stocks such as starch obtained from potatoes, sugarcane and more. Packaging is the major application served by bioplastics. Rigid plastic packaging find its use in products such as bottles and jars made from PET, which is the most extensively used resin

High Consumer demand & Acceptance (Eco-marketing) coupled with the rising concern for human health and safety worldwide has also led to increased consumption of biopolymers.

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Packaging market has humungous growth that can be attributed to the assured growth in biopolymers sector across the world. Biopolymers find its major use in applications such as flexible and rigid packaging. Packaging is the major application served by bioplastics. The prevalent usage is in beverages and food, however rigid plastic is likewise used in packaging of household, pharmaceutical and personal care products. Bioplastics packaging offers the same qualities as conventional packaging, while exposing much greater sustainability features.

The market in 2015 was $6.94 Billion and is dominated by Europe which is poised to exhibit the fastest growth due to favorable microeconomic conditions like government regulations and financial conditions like increasing FDI investments. The European bio-plastics market is projected to grow at a high rate of more than 20% per year owing to internal as well as external bio-plastic factors. Europe is the largest regional market for bio-plastic packaging with 39% of global tonnage consumed in 2013. This is equivalent to 182 thousand tonnes, of which the majority is used for non-food packaging products. Moreover, Thailand and China are the growth frontiers for the biopolymers manufacturers providing a huge market to be tapped in APAC. The bio-plastics industry is an enormous business opportunity in Thailand due to rich supply of biomass, supporting industries, active industry and government cooperation, supportive government policy, and the nation’s strategic location. The biopolymers market in Brazil is anticipated to grow at a CAGR of 17.61% during the forecast period 2016 to 2021.

Following key players were also covered as part of the market landscape analysis:

  • NatureWorks LLC
  • Braskem S.A.
  • Roquette
  • Novamont
  • Arkema

The market has also been analyzed for four geographic regions which include North America, APAC, Europe and Rest of the World.

Why buy this report?

  • Get a detailed picture of the biopolymers market.
  • Pinpoint growth sectors and identify factors driving change.
  • Understand the competitive environment, the market's major players and leading brands.
  • A five-year forecast method is used in order to assess how the market is predicted to develop.

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