Bio-Based Polymer Production Market

Plastic materials can be made through chemical compound processing that includes microbes like modified bacteria or plants. Bioplastics originate from thermoplastics and bio-based materials including sugar, starch and seaweed. The term biopolymers contains both bioplastics plus natural polymers that include silk wool and chitosan. Starch, cellulose, and alginate stand out as the major polysaccharide types that exist either as straight or branched chains of polymeric carbohydrates. Bio-polymers include natural rubber made from isoprene polymers and lignin resembling polyphenol molecules along with suberin and cutin which are polymer chains of fatigue acid.

The anticipated Global Bio-Based Polymer Production market size is poised to reach USD XX. XX Million by 2024, with a projected escalation to USD XX.XX Million by 2032, reflecting a compound annual growth rate (CAGR) of X.X% during the forecast period.

Market Dynamics:

Driver:

Market expansion for bio-based polymers results from consumer understanding of better plastic materials plus active attempts to replace traditional non-degradable plastics. Petroleum-based plastics form the bulk of the traditional types and they remain as waste for many years resulting in environmental damage. Bio-based products decompose quickly into the natural environment. When microorganisms act on biodegradable plastics they decompose them considerably faster than standard market plastics do. Most bio-based polymers degrade about 60% of their mass in half a year or less but regular plastics need above one thousand years to decompose fully. Plastic waste production and its uncontrolled pollution have become essential environmental concerns that governments and agencies need to address. SO nations have created strong controls for how to get rid of synthetic plastics. The authorities put money into research on plastic materials that exist as alternatives.

Restraint:

Bio-based polymers need more than 20% to 80% extra production expenses compared to petroleum-based polymers due to their higher polymerization costs. Bio-based materials have not reached the commercial scale because their development started later than the fast advancements of petroleum-based polymers over the past 50 years. The market consists of 1% bio-based polymers and 99% petroleum-derived polymers which provide wide availability to companies. Bio-based polymers currently sell for between US$2 and US$5 per kilogram while normal polymers stay between US$1 and US$2 per kilogram. The rising market costs of bio-based polymers slow down market growth until the forecast ends.

Opportunity:

Due to public interest and environmental programs bioplastics emerge as an increasing market because people want to reduce plastic usage and use eco-friendly plastic replacements. The traditional plastic waste items stay in landfill sites for many years since their petroleum base needs decades to break down. Plastic materials that respond to natural breakdown by microorganisms decompose much faster than ordinary plastics. Biodegradable plastics return to nature faster after being thrown away because microorganisms can process them. This enhanced customer knowledge leads more people to embrace biopolymers as an alternative.

Key Players:

·         BASF SE

·         PTT Global Chemical Public Company Limited

·         DowDuPont

·         Arkema Group

·          Mitsubishi Chemical Holdings Corporation

·         Corbion

·         Teijin Limited

·         Toray Industries, Inc.

·          Kuraray Co., Ltd.

·         Bio-On

·          Novamont SpA

·         Finasucre SA.

·         Others

Recent Development:

·         On October 2021 SABIC released its new bio-based ULTEM™ resins which provide sustainability advantages without losing their standard high performance. ULTEM materials work well for both consumer electronic and aerospace industry product designs along with automotive and more demanding engineering projects that need high temperatures and mechanical strength.

·         NatureWorks agreed in March 2022 with ABB technology to automate production of bioplastics at their Thailand plant. The new technology systems aim to boost polylactic acid (PLA) production levels based on industry market growth demands for eco-friendly materials.

Segment Insights:

By Polymer Type

The Polyhydroxyalkanoates market sector held 30% of total sector value in 2021 but will expand with a high growth rate over the next years. The biodegradable ability of PHAs in various environmental settings protects both Earth life and its water ecosystem. Increasing need for resistant and stretchable packaging formats by food & beverage and pharmaceutical firms pushes up demand for polyethylene materials. Businesses use Polyhydroxyalkanoate to make different types of packaging components including carrying bags, plastic sheets, and bottles. In 2020 DCC China recorded the 49 million metric tons of bottled drinking water consumption.

By End-use

The packaging part of the market used 58% of all spaces in 2021 and experts foresee it expanding rapidly through the outlook period. Growing environmental laws about plastics use plus consumer life style modifications push producers toward bio-based plastics for packaging products. The demand for polymers in packaging increased due to their ability to stay strong while blocking liquid. Bio-based polymers serve different packaging markets including food, medical supplies, cosmetic products, personal care products, and shopping bags. The Japanese government started charging retailers for providing plastic shopping bags effective July 2020 except for biodegradable plastic bags and plastic bags containing plant-based renewable content of at least 25% in July 2020. The Forbes article reports the Coca-Cola Company produces 3 million tons of plastic packaging each year. Many factors fuel the growth of the packaging market right now.

Regional Insights:

In 2021 the Asia Pacific region owned 42% of the Bio-based Polymer market because food and beverage producers across Asia Pacific accelerated their operations. India and China boost the market development in their area because they are emerging countries. The Bio-based Polymer market growth in the region benefits from large supplies of materials plus workers available for production. The region grows because several top food & beverage and personal care firms including Nestle, PepsiCo, the Coca-Cola Company, LOreal SA, Unilever Group, and others support this expansion throughout the forecast period. China Chain Store & Franchise Association showed that F&B businesses generated US$595 billion in 2019.  

Segmentation:

By Raw Material

·         Starches

·          cellulose

·          Chitin

·          Gelatin

·          Others

By Polymer Type

·         Polyethylene (PE)

·          Polyamide (PA)

·          Polyethylene terephthalate (PET)

·          Polyurethane

·          Polybutylene succinate

·          Polyhydroxyalkanoates (PHAs)

·          Polyethylene Terephthalate

·          Epoxies

·          Polyethylene Furanoate

·          Others

By Distribution Channel

·         Injection Molding

·         Extrusion

·         Others

By Application

·         Textile

·          Automotive & Transportation Agriculture

·          Packaging

·          Building & Construction Consumer Goods

·          Medical/Healthcare

·          Food & Beverage

·          Other

By Region

North America

·         USA

·         Canada

·         Mexico

Europe

·         France

·         UK

·         Spain

·         Germany

·         Italy

·         Rest of Europe

Asia Pacific

·         China

·         Japan

·         India

·         South Korea

·         Rest of Asia Pacific

Middle East & Africa

·         GCC

·         South Africa

·         Rest of the Middle East & Africa

South America

·         Brazil

·         Argentina

·         Rest of South America

What to Expect from Industry Profile?

1.       Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the Bio-Based Polymer Production market in the world.

2.       Use the PORTER’s Five Forces analysis to determine the competitive intensity and therefore market attractiveness of the Global Bio-Based Polymer Production market.

3.       Leading company profiles reveal details of key Bio-Based Polymer Production market players’ global operations, strategies, financial performance & recent developments.

4.       Add weight to presentations and pitches by understanding the future growth prospects of the Global Bio-Based Polymer Production market with forecast for the decade by both market share (%) & revenue (USD Million).

FAQ’s

1) Which are the key drivers supporting the growth of the Bio-Based Polymer Production market?

·         The growth of the packaging industry is driving the market value.

2) Which region is expected to grow at the highest rate in the next five years?

·         Asia Pacific is expected to grow at a CAGR of XX% in the next five years.

2) What is the total CAGR expected to be recorded for the Bio-Based Polymer Production market during the forecast period?

·         The Global Bio-Based Polymer Production Market is poised to grow at a CAGR of XX.XX% from 2024 to 2032.

3) Who are the major companies dominating the Global Bio-Based Polymer Production Market?

·         BASF SE, PTT Global Chemical Public Company Limited, DowDuPont, Arkema Group, Mitsubishi Chemical Holdings Corporation are the major players of the market.

4) What is the estimated market revenue for the Global Bio-Based Polymer Production Market in 2032?

·         The estimated revenue for the Global Bio-Based Polymer Production Market in 2032 is USD XX.XX Million.