Bio Polymers Market Comprehensive Research Analysis, Size, Share, Growth, Trends
Posted by Mangesh Mahajan on December 11th, 2019
Global Bio Polymers Marketsize is expected to grow at USD ~6.37 billion by 2023. The market witnessed a significant growth over the forecasted period owing to growing end user industry such as into packaging, agriculture, automotive, pharmaceutical, construction, and others (electronics, personal care, sports).
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The major driving factors of Bio Polymers Market are growing demand from various industrial applications such as films, bottles, bottles, fibers, seed coating, vehicle components, medical implants, and others (printed circuit boards, audio devices, fuel and exhaust system). In addition, the increasing demand from the packaging industry is expected to fuel market growth of Bio Polymers in near future.
Main issues for enhanced physical properties of biopolymers include impact heat resistance, modification, and barrier performance.
Market Research Future (MRFR) recognizes the following companies as the key players in the Global Bio Polymers Market: BASF SE, Braskem S.A, Biome Technologies plc, Plantic Technologies Limited, Bio-on S.p.A., Novamont S.P.A, Toray Industries Inc, Tianjin GreenBio Materials Co.Ltd, Danimer Scientific, Rodenburg Biopolymers, and Others.
Europe region including the countries such as Germany, Italy, France, and UK dominated the Global Bio Polymers Market in terms of consumption, in 2016, and is anticipated to continue the dominance during the forecast period. Growing demand from packaging industry has been the major factors responsible for the high market share of Europe region in the Global Bio Polymers Market in 2016.
The idea of biopolymers was presented by Europe region therefore, the Global Biopolymers Market in this region is comparatively established. Furthermore, the legal framework and strategy of governments of Europe region to provide many subsidies for the use of biopolymers will impel market’s growth in the region. Europe region comprises the largest market segment, occupying 42.6% of the market, with the maximum growth anticipated to make from the region.
APAC accounted for the second largest market of the Global Biopolymers during the forecast period. The major driver for bio polymer in APAC are demand from end user industries such as packaging, pharmaceutical, automotive industry, and stringent government regulation. Whereas, the major restrains of this markets are shortage of raw material and competition from fossil-fuel products. The market is driven by depleting natural resources, demand from end-user industries, and stringent government regulations. However, this market faces certain problems such as lack of commercialization in the developing countries. China is the leading consumer of bio-polymers in 2016 followed by India, Indonesia, and Japan. The Bio-Polymers Market in China will grow at a high rate during the forecast period owing to the huge demand from the end-user industries such as pharmaceutical and automotive. APAC region biopolymers estimated the top five biopolymers in 2016 by production capacity biodegradable starch blends, polyhydroxyalkanoate (PHA), polylactic acid (PLA), biopolyethylene (bio-PE), and biodegradable polyester.
North America holds third position among the regions in the Global Bio Polymers Market during the forecast period of 2016-2023. North America, has around 25% of the overall biopolymer films market share in 2016. In this region leading contributors for biopolymers markets are Canada and US. Latin America and Middle East & Africa are anticipated to invest in the research & development of biopolymers during the forecast period.
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Key Points from Table of Content:
12.1 BASF SE
12.2 Braskem S.A
12.3 Biome Technologies Plc
12.4 Plantic Technologies Limited
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About the AuthorMangesh Mahajan
Joined: July 17th, 2019
Articles Posted: 502
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