PUBLISHER: Grand View Research | PRODUCT CODE: 1633722
PUBLISHER: Grand View Research | PRODUCT CODE: 1633722
The global biopolymers in electrical and electronics market size is anticipated to reach USD 313.41 million by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 16.31% from 2025 to 2030. Rapidly increasing demand for biopolymers across the electrical & electronics manufacturers in line with the adaptation of green electronics for the manufacturing of their products is anticipated to propel the growth of the market.
Rapidly increasing amount of e-waste is a major global concern and is being addressed by various countries. Numerous companies have adopted the use of biopolymers to manufacture their electronic & electrical products and have included them as a part of their sustainability goal. In addition, a rising number of environmental conservation awareness programs are being carried out, keeping both consumers and electronic device manufacturers well-informed regarding the rapid growth of e-waste.
Furthermore, with technological advancement manufacturers are rapidly progressing for developing and launching new products, joint ventures, and other strategic initiatives. For instance, in February 2023, companies including Fraunhofer WKI, Fraunhofer IAP, crosslinking service provider BGS and other industrial partners initiated a joint venture for developing bio-based flame retardant to be used across the electrical & electronics industry.