The biopolymers market is expected to grow from US$ 4,600 million in 2022 to US$ 14,000 million by 2031; it is estimated to grow at a CAGR of 11.5% from 2022 to 2031.
Biopolymers are polymers that are obtained from living organisms and are entirely biodegradable. A few common examples of biopolymers include proteins, carbohydrates, DNA, RNA, lipids, nucleic acids, and peptides. Since biopolymers are composed of living beings, they are entirely neutral toward carbon and easily recycled or renewed. Biopolymers do not create CO2 pollution because crops absorb the emitted CO2 by them instead of getting released into the atmosphere. There are four different kinds of biopolymers sugar-based biopolymers, cellulose-based biopolymers, synthetic-based biopolymers, and natural polymers.
MARKET DYNAMICS
The packaging and automotive industries are the major consumers of biopolymers. The biopolymers market has witnessed significant growth owing to factors such as a rise in demand from the automotive & packaging industry and a growing need for environment-friendly products. Furthermore, the awareness regarding sustainable products among consumers is creating lucrative opportunities for the biopolymer market. Further, the medical industry is also one of the prominent users of biopolymers for implant purpose due to its characteristics such as biocompatibility, biodegradation, and non-cytotoxicity.
MARKET SCOPE
The "Global Biopolymers Market Forecast to 2031" is a specialized and in-depth study of the biopolymers market with a special focus on the global market trend analysis. The report aims to provide an overview of the biopolymers market with detailed market segmentation on the basis of type and application. The report provides key statistics based on the financial performances of the leading market players. It also offers key trends and opportunities in the market.
Strategic Insights
MARKET SEGMENTATION
The global biopolymers market is bifurcated on the basis of type and application. Based on type, the market is segmented into bio-polyethylene (Bio-PE), polylactic acid (PLA), bio-based polyethylene terephthalate (PET), bio-polyesters, and others. Based on application, the market is segmented into packaging, medical implants, automotive, seed coating, and others.
REGIONAL FRAMEWORK
The global biopolymers market is segmented into five major regions North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America. The report covers analysis and forecast of 18 countries globally, along with current trends and opportunities prevailing in the abovementioned regions.
North America dominates the biopolymers market. The market growth is attributed to the presence of a large number of biopolymers manufacturers and a high adoption rate of biopolymers. A few of the key biopolymers manufacturers in the region include BASF SE, Biopolymer International, Braskem S.A., Corbion NV, and Danimer Scientific. These suppliers witness constant demand from the end use industry. The below figure showcases the revenue growth trend in the global biopolymers market:
Source: The Insight Partners Analysis
The report analyzes factors, such as drivers, restraints, opportunities, and future trends, which impact the biopolymers market. It also provides an exhaustive Porter's five forces analysis, highlighting the factors affecting the biopolymers market in these regions.
IMPACT OF COVID-19 PANDEMIC
Due to the impacts of the COVID-19 pandemic, many industries, such as chemical & materials and automotive, faced unprecedented challenges due to disruptions in the global supply chain that adversely affected the manufacturing, delivery schedules, and sales of various goods. The market size for biopolymers decreased due to a decline in the growth of several industrial sectors. Many production sites were either partially or fully closed to combat the spread of SARS-CoV-2. The COVID-19 pandemic also caused fluctuations in the prices of biopolymers due to a huge gap in supply and demand. However, since 2021, the packaging & automotive industry has been strongly growing, and the growth trend is foreseen to continue in the coming years. Thus, the growing consumption of biopolymers is likely to bolster the market during the forecast period.
Biopolymers Market Report Analysis
CAGR (2023 - 2031)
US$ 5.13 Billion
US$ 12.25 Billion
Report Coverage
Key Players
Regional Overview
Market Segmentation
By Type
By Application
The reports cover key developments in the biopolymers market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, patents, and events. Inorganic growth strategies activities witnessed in the market were acquisitions, partnerships, and collaborations. These activities have encouraged the expansion of business and the customer base of market players. Players operating in the biopolymers market are anticipated to provide lucrative growth opportunities in the coming years owing to the rising demand for biopolymers.
The report includes the profiles of key companies operating in the biopolymers market, along with their SWOT analysis and market strategies. The report also focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, and key development in the past five years.
The list of a few companies engaged in the biopolymers market is mentioned below:
- BASF SE
- Biopolymer International
- Braskem S.A.
- Corbion NV
- Danimer Scientific
- HARBEC, Inc.
- Meredian Holdings Group Inc.
- Metabolix, Inc.
- NatureWorks LLC
- Solanyl Biopolymers
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.
Biopolymers Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 5.13 Billion |
| Market Size by 2031 | US$ 12.25 Billion |
| Global CAGR (2023 - 2031) | 11.50% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Application, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
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The List of Companies
1. BASF SE
2. Biopolymer International
3. Braskem S.A.
4. Corbion NV
5. Danimer Scientific
6. HARBEC, Inc.
7. Meredian Holdings Group Inc.
8. Metabolix, Inc.
9. NatureWorks LLC
10. Solanyl Biopolymers
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