Global Bio-Based Polymer Market, By Type (Polyethylene, Polyamide, Polylactic Acid, Polyethylene Terephthalate (PET), Others), Application (Textile, Automotive, Industrial, Agriculture, Packaging, Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
The global bio-based polymer market is anticipated to expand significantly over the forecast period due to increased demand for green chemicals globally. Furthermore, factors such as tight regulatory policies on the usage of synthetic polymers boost the worldwide bio-based polymer market's growth and expansion.
Global Bio-Based Polymer Market was valued at USD 7922.90 million in 2021 and is expected to reach USD 12159.17 million by 2029, registering a CAGR of 5.50% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Bio-based polymers are materials containing at least a fraction of the polymer made from renewable basic ingredients. Bio-based polymers, for example, can be made from corn or sugarcane. The remaining polymers might be made from carbon derived from fossil fuels. They are manufactured from sustainable resources. Biodegradable polymers are products whose physical and chemical qualities deteriorate when exposed to microorganisms, methane, carbon dioxide, and water processes. Bio-based polymers can be biodegradable (such as polylactic acid) or non-biodegradable (for example, biopolyhethylene).
Report Scope and Market Segmentation
2022 to 2029
2020 (Customizable to 2019 - 2014)
Revenue in USD Million, Volumes in Units, Pricing in USD
By Type (Polyethylene, Polyamide, Polylactic Acid, Polyethylene Terephthalate (PET), Others), Application (Textile, Automotive, Industrial, Agriculture, Packaging, Others)
U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
Market Players Covered
Dow (U.S.), NatureWorks LLC (U.S.), Braskem (Brazil), BASF SE (Germany), TotalEnergies Corbion bv (Netherlands), Novamont SpA (Italy), Biome Bioplastics (UK), PTT Global Chemical Public Company Limited (Thailand), Mitsubishi Chemical Holding Corporation (Japan), Biotec (Germany), Mapei S.p.A (Italy), SOLVAY (Belgium), DAIKIN (Japan), Toray Industries, Inc., (Japan), KURARAY CO., LTD. (Japan), Dupont (U.S.) and Plantic (Australia)
Bio-Based Polymer Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
- High Demand From Packaging Industry
One of the most important markets for bio-based polymers is packaging. These polymers provide outstanding clarity and gloss and resistance to food fats and oils and an aroma barrier. They also add stiffness, twist retention, and printability to the package. Bio-based polymers are widely utilized in supermarket fruit and vegetable packaging, bread bags and bakery boxes, bottles, envelopes and display carton windows, and shopping or carrier bags, among other applications. Therefore, high utilization of bio-based polymer in the packaging industry is estimated to carve a way for the market's growth.
Furthermore, the stringent regulatory policies on the consumption of synthetic polymers will further propel the growth rate of bio-based polymer market. Additionally, the favorable government initiatives toward bio-based polymers will also drive market value growth. The decrease in dependency on petroleum resource is projected to bolster the market's growth.
- Eco-Friendly Polymers And Customer Awareness
Furthermore, the increased inclination of the population towards eco-friendly polymers to protect the ecosystem and ordinance on un-degradable polymers in various nations extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the progressing customer awareness in advanced and emerging countries and non-poisonous characteristics of biodegradable polymers will further expand the future growth of the bio-based polymer market.
- High Costs
The high costs as compared to petroleum derivate polymers will create hindrances for the growth of the bio-based polymer market.
- Low Awareness
Also, dearth of awareness within the developing regions will prove to be a demerit for the bio-based polymer market. Therefore, this will challenge the bio-based polymer market growth rate.
This bio-based polymer market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the bio-based polymer market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Bio-Based Polymer Market
The recent outbreak of coronavirus had a negative impact on the bio-based polymer market. The adverse effect on the market can be attributed to the fact that the bio-based polymers are employed in a variety of industries, including packaging, consumer goods, automotive and transportation, and textiles, which were negatively impacted by the pandemic. The various end use industries were also affected by manpower shortages, logistical constraints, material scarcity, and other factors, which had hindered the industry's expansion. Furthermore, as a result of the Covid-19 pandemic's breakout and slow expansion, industries with critical necessities, such as delivering food and goods safely to consumers, are becoming progressively impacted. The severe disruptions in various manufacturing and the supply-chain operations due to the various precautionary lockdowns imposed by governments to curb the spread of disease led to huge financial setback for the market. The global impact has resulted in a substantial decrease in demand for certain forms of packaging that are deemed non-essential. Over the forecast period, the aforementioned determinants will weigh the market's revenue trajectory over the forecast period.
On the brighter side, the market has now revived with year-on-year growth across regions such as China, Europe, and the United States. However, demand is expected to remain mild in the next years without a viable answer. The industry has experienced supply chain delays in Chinese components export, large-scale manufacturing interruptions, and assembly facility closures.
Global Bio-based Polymer Market Scope
The bio-based polymer market is segmented on the basis of type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Polylactic Acid
- Polyethylene Terephthalate (PET)
Bio-Based Polymer Market Regional Analysis/Insights
The bio-based polymer market is analyzed and market size insights and trends are provided by country, type and application as referenced above.
The countries covered in the bio-based polymer market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Europe dominates the bio-based polymer market because of the unrestricted information and government enterprises in the nation have encouraged the application of biodegradable polymers in courier packs, food packaging, cooking assistance, and caddy bin liner bags, among others within the region. On the other hand, Asia-Pacific is estimated to show lucrative growth due to the abundance of raw material, favorable government policies, and increase in demand for bio-based polymers from consumer goods segment within the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Bio-Based Polymer Market Share Analysis
The bio-based polymer market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to bio-based polymer market.
Some of the major players operating in the bio-based polymer market are
- Dow (U.S.)
- NatureWorks LLC (U.S.)
- Braskem (Brazil)
- BASF SE (Germany)
- TotalEnergies Corbion bv (Netherlands)
- Novamont SpA (Italy)
- Biome Bioplastics (UK)
- PTT Global Chemical Public Company Limited (Thailand)
- Mitsubishi Chemical Holding Corporation (Japan)
- Biotec (Germany)
- Mapei S.p.A (Italy)
- SOLVAY (Belgium)
- DAIKIN (Japan)
- Toray Industries, Inc., (Japan)
- KURARAY CO., LTD. (Japan)
- Dupont (U.S.)
- Plantic (Australia)
Research Methodology: Global Bio-Based Polymer Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The stage includes the obtainment of market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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