PUBLISHER: IMARC | PRODUCT CODE: 1468352
PUBLISHER: IMARC | PRODUCT CODE: 1468352
The global bio-based polymer market size reached US$ 8.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 13.3 Billion by 2032, exhibiting a growth rate (CAGR) of 5.6% during 2024-2032.
Bio based polymers refer to resins obtained from biological resources, such as algae, microorganisms, and plants. Synthetized directly or via monomer synthesis followed by polymerization, the primary biomass feedstock used in their manufacturing generally includes biogenic by-products, especially glycerol from biodiesel production. Since these polymers can help replace fossil carbon in the production process with renewable carbon from biomass, they are popularly used as an alternative solution for conventional plastics. Some of the advantages offered by these polymers include improved resistance to food fats, excellent clarity and gloss, a high aroma barrier, and exceptional twist retention and printability. As a result, bio based polymers find widespread applications across a broad array of industries, including food and beverages (F&B), agriculture, textiles, electronics, packaging, and healthcare.
The market is majorly driven by an enhanced focus on sustainable development. With the rising focus on reducing the dependency on conventional plastics, numerous global organizations are now promoting the uptake of biodegradable food-grade alternatives for beverage and snack packaging. Moreover, favorable policies and regulations undertaken by several government bodies across the globe are creating lucrative opportunities for key players in the market. Governments are not only discouraging the adoption of synthetic polymers but also implementing additional charges on the usage of conventional plastics in shopping and packaging applications. The market is further driven by the escalating shift toward green chemicals in multiple end-use industries. Some of the other factors contributing to the market growth include the augmenting preference for green polyethylene (PE) prepared using the process of microbial fermentation and the growing awareness regarding the ease of disposing biodegradable polymers.
IMARC Group provides an analysis of the key trends in each sub-segment of the global bio-based polymer market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on type and application.
Polyethylene (PE)
Polyamide (PA)
Polylactic Acid (PLA)
Polyethylene Terephthalate (PET)
Others
Packaging
Textile
Automotive
Industrial
Agriculture
Others
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Arkema S.A., BASF SE, Biome Bioplastics Limited, Corbion N.V., FKuR Kunststoff GmbH, Kuraray Co. Ltd., Mitsubishi Chemical Holdings Corporation, Novamont S.p.A., Rodenburg Productie B.V., thyssenkrupp AG and Toray Industries Inc.