Product Code: 66466
The market for Bio-based Polymer is expected to grow at a CAGR of 5.33% during the forecast period of 2019 - 2024. One of the major factors driving the market is the increasing demand for sustainable plastics. Higher price compared to petroleum-based polymers is expected to hinder the growth of the market studied.
- Packaging industry dominated the market in 2018 and is expected to grow during the forecast period.
- Increasing applications of biodegradable plastics are likely to act as an opportunity in the future.
- Europe dominated the market across the globe with the largest consumption from countries such as France and the United Kingdom.
Key Market Trends
Increasing Demand from Packaging Industry
- Packaging is one of the largest markets for bio-based polymers. These polymers exhibit excellent clarity and gloss, resistance to food fats/oils, and aroma barrier. Additionally, they also provide stiffness, twist retention, and printability to the packaging.
- Bio-based polymers are majorly used in fruits and vegetable packaging in the supermarkets, for bread bags and bakery boxes, bottles, envelopes and display carton windows, and shopping or carrier bags, among others.
- The bio-based polymer market for packaging is growing rapidly in the European and North American regions. The increasing intervention of FDA and related organizations, in terms of food safety, is largely promoting the usage of biodegradable and food grade plastics for beverage and snack consumption.
- The restaurant chains and food processing industries are increasingly adapting the biodegradable materials for food packaging. Consumer awareness is also rising rapidly, especially in the emerging economies, in terms of food safety, as some plastics are proven carcinogenic.
- The growth in developing regions, like Asia-Pacific, South America, and the Middle East, is expected to increase in the near future, due to the improving food packaging standards of various food and safety organizations.
- Moreover, the higher ease of disposing of biodegradable polymers has further added to its growing demand from the packaging industry.
Europe Region to Dominate the Market
Europe region dominated the global market share in 2018. Public awareness and government initiatives in the region, have supported the use of biodegradable polymers in carrier bags, food packaging, food services (cutlery, etc.), and organic waste caddy liners, among others. Various countries in the region has been focusing on offering more eco-friendly packaging. This has increased the demand for polylactic acid from the packaging sector. Currently, the packaging sector in the United Kingdom has annual sales of GBP 11 billion and it employs more than 85,000 people. It represents about 3% of UK's manufacturing and is a major contributor to the country's GDP. Non-UK-based companies own much of the country's packaging industry. The growing need for small size packaging and growing consumption habits with the change in lifestyles are anticipated to propel the demand for bio-based polymers over the forecast period.
The bio-based polymer market is consolidated and is dominated by very few players. Some of these major players include BASF SE, Covestro AG, BIOTEC, CNano Technology Ltd, and NatureWorks LLC.
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Table of Contents
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Drivers
- 4.1.1 Environmental Factors Encouraging a Paradigm Shift
- 4.1.2 Growing Demand for Biopolymers in Flexible Packaging
- 4.2 Restraints
- 4.2.1 Availability of Cheaper Alternatives
- 4.3 Industry Value-Chain Analysis
- 4.4 Porters 5 Force Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
- 4.5 Sugarcane Based Bio-Polymers
5 MARKET SEGMENTATION
- 5.1 Type
- 5.1.1 Biodegradable Starch Blends
- 5.1.2 Polylactic Acid (PLA)
- 5.1.3 Bio-Polyethylene Terephthalate (Bio-PET)
- 5.1.4 Polyhydroxyalkanoate (PHA)
- 5.1.5 Bio-Polyethylene (Bio-PE)
- 5.1.6 Biodegradable Polyesters
- 5.1.7 Other Types
- 5.2 Application
- 5.2.1 Rigid Packaging
- 5.2.2 Flexible Packaging
- 5.2.3 Textiles
- 5.2.4 Consumer Goods
- 5.2.5 Automotive and Transportation
- 5.2.6 Agriculture and Horticulture
- 5.2.7 Building and Construction
- 5.2.8 Electrical and Electronics
- 5.2.9 Others (Medical)
- 5.3 Geography
- 5.3.1 Asia-Pacific
- 188.8.131.52 China
- 184.108.40.206 India
- 220.127.116.11 Japan
- 18.104.22.168 South Korea
- 22.214.171.124 Rest of Asia-Pacific
- 5.3.2 North America
- 126.96.36.199 United States
- 188.8.131.52 Canada
- 184.108.40.206 Mexico
- 5.3.3 Europe
- 220.127.116.11 Germany
- 18.104.22.168 United Kingdom
- 22.214.171.124 Italy
- 126.96.36.199 France
- 188.8.131.52 Rest of Europe
- 5.3.4 South America
- 184.108.40.206 Brazil
- 220.127.116.11 Argentina
- 18.104.22.168 Rest of South America
- 5.3.5 Middle East & Africa
- 22.214.171.124 Saudi Arabia
- 126.96.36.199 South Africa
- 188.8.131.52 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share Analysis**
- 6.3 Strategies Adopted by Leading Players
- 6.4 Company Profiles
- 6.4.1 ARKEMA GROUP
- 6.4.2 BASF SE
- 6.4.3 BIO-ON (Minerv)
- 6.4.4 Braskem
- 6.4.5 M&G Chemicals
- 6.4.6 Maynard & Harris Plastics (RPC M&H Plastics)
- 6.4.7 MCPP
- 6.4.8 Meron
- 6.4.9 NatureWorks LLC
- 6.4.10 Novamont S.p.A.
- 6.4.11 Polyone
- 6.4.12 Rodenburg Biopolymers
- 6.4.13 TEIJIN FRONTIER CO., LTD.
- 6.4.14 Indorama Ventures Public Company Limited
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Growing Awareness of Sugar Cane Polythene Benefits in Comparison to Oil-based Polythene