Biopolymer Market

Biopolymer Market Size (2023-2028)

The biopolymer market was valued at $ 666.6 billion in 2022. This market is predicted to experience remarkable expansion with a compound annual expansion rate (CAGR) of 8.3% during the forecast period of 2023-2028

The biopolymer is derived from living organisms that are completely biodegradable. Some common examples of biopolymers are proteins, carbohydrates, DNA, RNA, lipids, nucleic acid, and peptides. They are employed to make items such as pots, tableware, and straws, among others. Current environmental concerns and the rise in plastic waste are high due to the expansion of biopolymer manufacturing companies. The worldwide market for bioplastics and biopolymers has immense expansion potential and is predicted to grow significantly during the foreseen period. This is due to the strong call from the packaging industry and the growing health concerns related to petroleum-based plastics. The worldwide biopolymer market is heavily affected by biopolymers, one of the most organic compounds in the world. The categorization of biopolymers is highly dependent on your end-user industry. This market benefits from a diverse number of end users, including promising users such as the pharmaceutical, healthcare, and food and beverage industries. And in the food and beverage industry, biopolymers are mainly employed to make cellophane sheets that are widely employed for food packaging. In 2021, the worldwide market for biopolymers experienced remarkable expansion, thus its predicted size was $ 12 billion. During the foreseen period 2022 - 2027, the biopolymers market will experience exceptional expansion with a CAGR of 20%.

Biopolymers are biodegradable polymer that helps reduce carbon emissions to the environment. It has a large number of applications in various sectors; Escalating manufacturer emphasis on improving biopolymer properties by changing physical and chemical properties and various parameters is predicted to drive market expansion during the foreseen period. Biopolymer films made from potato peels and fruit pomace waste are 0.3 millimeters thick and can withstand temperatures up to 200 degrees Celsius. They have good resistance to breakage and good elongation capacity.

Biopolymer Market Drivers:

The growing awareness among the population of developed countries about the harmful effects of food packaging materials and the escalating call for environmentally friendly packaging materials are driving the expansion of the worldwide market for biopolymers. Strict government regulations for the use of plastics and conventional packaging materials are also boosting the biopolymer market. Furthermore, fluctuations in the price of oil and its declining sources are leading manufacturers to move towards biopolymers, as the raw materials employed in the production of biopolymers are renewable. Calcium alginate, chitosan, collagen, and gelatine are some examples of biopolymers employed in the pharmaceutical industry for purposes such as controlled drug release, artificial skin, dental materials and cosmetics, among others. Based on the aforementioned pharmaceuticals, the worldwide biopolymer market is predicted to dominate the synthetic polymer market. The expansion of the world market for biopolymers. The raw material for the production of biopolymers is obtained from agricultural residues. It produces a negligible amount of contamination compared to other bioplastic polymers. The growing call for sustainable and renewable biopolymers in packaging and other industries is predicted to drive the expansion of the biopolymers market around the world.

Biopolymer Market Restraints:

However, the low chemical and mechanical resistance and the expensive biopolymer product are predicted to hamper the expansion of the biopolymer market during the foreseen period. The huge need for investment in research and development for the development of biopolymers is one of the main challenges for new entrants.

Opportunities in the Biopolymer Market:

Fluctuating crude oil prices, limited availability of petroleum resources, and awareness of environmental issues are key factors driving the expansion of the worldwide biopolymers market during the foreseen period. Changing political conditions and environmental regulations on carbon emissions and plastic use is also predicted to drive the worldwide biopolymer market during the foreseen period. Although it is a niche market, the biopolymer market is predicted to see significant expansion during the foreseen period. In addition to this, the raw materials necessary for the manufacture of biopolymers are obtained from agricultural waste. Therefore, the production of biopolymers can be a sustainable alternative in waste management. Being biodegradable, biopolymers can also help reduce carbon dioxide emissions. Due to these advantages, there is a growing interest in biopolymer manufacturing, which will consequently drive the expansion of the worldwide biopolymer market over the foreseen period.

Challenges in the Biopolymer Market:

An important issue for the biopolymer market is the amount of initial investment required in the production of the product. Several key market players are actively manufacturing in the biopolymer market of agricultural companies to develop symbiotic relationships for the expansion of the biopolymer market. Low mechanical properties, in accordance with the requirements of the plastics industry, are holding back the expansion of the world market for biopolymers.

BIOPOLYMER MARKET REPORT COVERAGE:

Biopolymer Market Segmentation

Biopolymer Market - By Product:

• Bio-PET (polyethylene terephthalate)

• Bio-PE (polyethylene)

• Polylactic acid (PLA)

• Biodegradable polyesters

• Biodegradable Starch Blends

Biopolymer Market - By Application:

• Packaging
• Fibers
• Cosmetics
• Agricultural seed coatings
• Automotive interior parts
• Medical Implants

Biopolymer Market - By End-User:

• Food and Drinks

• Automobile Industry

• Healthcare

• Farming

• Chemical Industry

• Semiconductors and Electronics

Biopolymer Market - By Region:

• North America

• Europe

• Pacific Asia

• Latin America

• Middle East and Africa

Europe is a major consumer of biopolymers on the world market for biopolymers. Taking into account the laws and regulations of this region, Europe is predicted to remain dominant throughout the foreseen period. After Europe, North America is predicted to account for a significant share by the end of 2021. This region is predicted to experience significant expansion over the foreseen period. Asia-Pacific is predicted to see a strong expansion in the worldwide biopolymers market during the foreseen period. This is mainly attributed to rapid industrialization and the need to reduce pollution from artificial plastics and synthetic polymers in these regions. Latin America, the Middle East, and Africa are predicted to invest in the research and development of biopolymers during the foreseen period.

Impact of Covid-19 on Biopolymer Market:

The worldwide coronavirus pandemic (COVID-19) has led to stock market unpredictability, strict border controls, and a worldwide lockdown, prompting the polymer industry, along with large companies and governments, to rebuild companies supply chains. The entire world is suffering a severe impact on the social and financial sectors, and all worldwide industries face challenges during the COVID-19 pandemic. However, in general, many production lines have closed due to the crisis. Axiom MRC's exclusive COVID-19 impact assessment report explores the COVID-19 epidemic, its impact on worldwide and regional economies, and its implications for the biopolymer industry.

Recent Developments:

• BioLogiQ launches three new biopolymers that improve packaging.

• Biologiq, inc. A bioplastic resin manufacturing company that specializes in eco-friendly plastic products made from renewable resources, has announced that it will launch three new grades of its plant-based plastic, NuplasticQ.

Biopolymers Market key players:

1. BASF SE

2. Danimer Scientific

3. Novamont SpA

4. Galatea Bio Tech

5. Total Corbion

6. Plantic Technologies Ltd.

7. BioPolymer FMC A.S

8. NatureWorks LLC

9. Sigma-Aldrich

10. Biome Technologies Ltd