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Bio Polymers Market Share

ID: MRFR//2191-HCR | 140 Pages | Author: Anshula Mandaokar| November 2024

The Bio Polymers Market, characterized by the growing demand for sustainable and eco-friendly alternatives, is witnessing a surge in innovative strategies for market share positioning. Companies within this sector deploy various tactics to gain a competitive edge and establish a significant presence in the market.

The moldable plastic is made from chemical compounds has been considered from or combined with microorganisms like bacteria or genetically modified plants. Bioplastics are generally made of thermoplastics from bio-based materials such as sugar, starch, and seaweed. Biopolymers are one of the broadest categories of materials, including bioplastics and natural polymers like silk, wool, or chitosan. Starch, cellulose and alginate are one of the key factors of polysaccharides that have linear or branched polymeric carbohydrates. Natural rubbers like polymers of isoprene, suberin and lignin like complex of polyphenol polymers, cutin and cutan like the complex of polymers of a long lasting chain of fatigue acids, are examples of bio-polymers.

One primary strategy is focused on developing a diverse portfolio of bio-based polymer products. By offering a wide range of solutions catering to different industries and applications, companies can appeal to a broader customer base. This approach involves the creation of bio polymers with versatile properties suitable for various end-use sectors, such as packaging, automotive, and textiles. A diversified product portfolio enables companies to meet the specific needs of diverse industries, attracting a larger customer base and securing a robust market share.

In addition to diversification, companies in the bio polymers market prioritize research and development to enhance product performance and quality. Investing in technology and innovation allows businesses to stay ahead in this dynamic market. Improved bio polymer formulations with enhanced characteristics, such as strength, durability, and heat resistance, not only meet industry standards but also surpass customer expectations. Companies that consistently innovate and introduce novel bio polymers gain a competitive advantage, positioning themselves as industry leaders and capturing a larger market share.

A crucial strategy involves creating strong partnerships and collaborations within the bio polymers ecosystem. This includes forming alliances with raw material suppliers, research institutions, and end-users. Collaborative efforts contribute to a more sustainable supply chain, ensuring a steady flow of high-quality raw materials for bio polymer production. Partnerships with end-users facilitate the development of tailored solutions that precisely meet industry requirements, thereby securing long-term contracts and a stable market share.

Market segmentation is another effective strategy in the bio polymers sector. By identifying and targeting specific applications or industries, companies can optimize their marketing efforts and product development to address the unique needs of each segment. This approach involves creating specialized bio polymers for applications like biodegradable packaging or bio-based textiles. A segmented approach allows companies to position themselves as experts in particular niches, attracting a loyal customer base within each segment and enhancing their overall market share.

Companies also focus on sustainability and environmental consciousness as a strategic approach in the bio polymers market. With increasing awareness and emphasis on reducing carbon footprints, consumers and industries alike seek environmentally friendly alternatives. Bio polymers, being derived from renewable resources, offer a sustainable solution to traditional petroleum-based polymers. Companies that prioritize and communicate their commitment to environmental sustainability can gain favor among eco-conscious consumers, leading to increased market share.

Geographical expansion is a noteworthy strategy for companies aiming to strengthen their market position. By entering new markets or expanding their presence in existing ones, companies can tap into diverse customer bases and adapt their products to regional preferences. Localized marketing and distribution strategies contribute to successful market penetration, allowing companies to establish themselves as key players in different regions and consolidate their market share on a global scale.

Covered Aspects:

Report Attribute/Metric Details
Base Year For Estimation 2022
Historical Data 2018 & 2022
Forecast Period 2023-2030
Growth Rate 15.79% (2023-2030)

Global Bio Polymers Market Overview


The Bio Polymers Market Size was valued at USD 11.50 Billion in 2022. The Bio Polymers industry is projected to grow from USD 14.71 Billion in 2023 to USD 37.16 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 15.79% during the forecast period (2023 - 2030). Moldable plastic is made from chemical compounds has been considered from or combined with microorganisms like bacteria or genetically modified plants. Bioplastics are generally made of thermoplastics from bio-based materials such as sugar, starch, and seaweed. Biopolymers are one of the broadest categories of materials, including bioplastics and natural polymers like silk, wool, or chitosan. Starch, cellulose, and alginate are one of the key factors of polysaccharides that have linear or branched polymeric carbohydrates. Natural rubbers like polymers of isoprene, suberin, and lignin like the complex of polyphenol polymers, and cutin as the complex of polymers of a long-lasting chain of fatigue acids, are examples of bio-polymers.Bio Polymers Market OverviewSource: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Bio Polymers Market Trends




  • A change in customer preference in favor of biodegradable plastics




The market for bioplastics is expanding along with initiatives to reduce the usage of conventional plastics that are non-biodegradable and raise knowledge of sustainable plastic alternatives. Conventional plastics can spend a long time in landfills since they take decades to disintegrate and are mainly made of petroleum. The rate of breakdown of biodegradable plastics by the actions of microorganisms is substantially faster than that of conventional plastics. Biodegradable plastics break down faster when they are discarded and can be absorbed back into the natural system. A greater number of individuals are switching to biopolymers as a result of this rising consumer awareness.


IFF's Pharma Solutions division plans to unveil new products and investments during this year's CPHI in Barcelona in 2023. OSP was fortunate enough to catch up with them before the event begins next week.At the event, IFF will showcase its portfolio of low nitrate solutions for the pharmaceutical business and expect to give visitors a first-hand look at its most recent inventions, such as Methanova, a cell-compatible and filterable methylcellulose for the biotechnology industries.


Gulf Biopolymers Industries (GBI) will join Khalifa Economic Zones Abu Dhabi (KEZAD) Group, a leader in economic zone management, in 2024. GBI will open the Middle East's first factory to make biodegradable and recyclable polylactic acid (PLA) polymers.


Bio Polymers Market Segment Insights


Bio Polymers Type Insights


The market segmentation, based on Type, includes Bio-PE, Bio-PET, Polylactic acid (PLA), Polyhydroxyalkanoate (PHA), Biodegradable Polyesters, and Others. The Biodegradable Polyesters segment holds the majority share in 2022, contributing to the global Bio Polymers revenue. The market for biodegradable plastics has grown, which has relieved recycling pressures and reduced trash creation. In addition to orthopedic devices, wound management, surgical sutures, and drug delivery systems, the category primarily finds uses in packaging, medical equipment, automotive, consumer goods, consumer goods, textiles, and consumer goods. These factors are driving the segment growth in the market.


Bio Polymers Application Insights


Based on Application, the market segmentation includes Films, Bottles, Fibers, Seed Coating, Vehicle Components, Medical Implants, and Others. The Bottles segment dominated the market.


Bio Polymers End-Use Insights


Based on End-Use, the market segmentation includes ​​Packaging, Agriculture, Automotive, Pharmaceutical, Construction, and Others. The Packaging segment is the largest segment of the market. Products are protected with packaging to prevent breakage and contamination while being stored and distributed. The market segment growth is being driven by the rising demand for packaging made of bioplastics and biopolymers in the food and beverage, pharmaceutical, and consumer goods industries. Moreover, rising consumer spending power, an expanding population, and an increase in e-commerce are all elements that are promoting category growth.


Figure 2: Bio Polymers Market, by Type, 2022 & 2030 (USD Million)Bio Polymers Market, by Type, 2022 & 2030Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Bio Polymers Regional Insights


By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia Pacific region is currently the largest and fastest-growing market for biopolymers. This can be attributed to various factors, including the growing demand for sustainable materials, increasing environmental concerns, and favorable government policies and regulations supporting the use of bio-based products. Countries such as China, Japan, and India are the major consumers of bio-polymers in the Asia Pacific region, driven by the growing demand for bio-based packaging, textiles, automotive, and construction materials. The region also has a significant production capacity for bio-polymers, with several leading manufacturers located in countries such as China, Thailand, and Malaysia.


Figure 3: BIO POLYMERS MARKET SHARE BY REGION 2022 (%)BIO POLYMERS MARKET SHARE BY REGIONSource: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Bio Polymers Key Market Players & Competitive Insights


Major market players are spending a lot of money on R&D to increase their product lines, which will help the market grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Bio Polymers industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.


Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Bio Polymers industry to benefit customers and expand the market sector. Major market players, including Mitsubishi Chemical Holding Corporation, Biotec, Toray Industries, Novamont, BASF, and others, are attempting to increase market demand by funding R&D initiatives.


Toray Industries, Inc. is a multinational corporation. Toray operates through various business segments, including Fibers & Textiles, Performance Chemicals, Carbon Fiber Composite Materials, Environment & Engineering, and Life Science. The Fibers & Textiles segment is the largest segment of Toray's business, producing synthetic fibers and textiles for use in clothing, industrial materials, and automotive components. The Performance Chemicals segment produces a range of specialty chemicals used in electronics, construction, and other industries. The Carbon Fiber Composite Materials segment produces carbon fiber reinforced plastics (CFRP) used in aerospace, automotive, and sporting goods applications. The Environment & Engineering segment produces membranes for use in water purification and wastewater treatment, systems, and equipment for producing and supplying energy. The Life Science segment is focused on developing pharmaceuticals and medical devices, including biodegradable polymers and other materials used in medical applications.


Novamont is a global leader in the development and production of bioplastics and biodegradable materials. The company's mission is to promote a sustainable and circular economy by developing products that are fully biodegradable and compostable. Novamont produces a range of bioplastics, including Mater-Bi, a biodegradable biopolymer made from renewable sources such as cornstarch, and Origo-Bi, a biodegradable polyester. These materials are used in various applications, such as packaging, agriculture, and disposable products.


Key Companies in the Bio Polymers market include



  • Novamont

  • BASF

  • Braskem

  • NatureWorks

  • Biome Bioplastics

  • Mitsubishi Chemical Holding Corporation

  • Biotec

  • Toray Industries

  • Plantic Technologies

  • TotalEngies Corbion


Bio Polymers Industry Developments


March 2022: NatureWorks signed an agreement with ABB technology for the automation of a new bioplastics plant in Thailand. The advancements are aimed at expanding the production capacity of polylactic acid (PLA) to cater to the growing industry demand for sustainable materials.


Bio Polymers Market Segmentation


Bio Polymers Type Outlook



  • Bio-PE

  • Bio-PET

  • Polylactic acid (PLA)

  • Polyhydroxyalkanoate (PHA)

  • Biodegradable Polyesters

  • Others


Bio Polymers Application Outlook



  • Films

  • Bottles

  • Fibers

  • Seed Coating

  • Vehicle Components

  • Medical Implants

  • Others


Bio Polymers End-Use Outlook



  • Packaging

  • Agriculture

  • Automotive

  • Pharmaceutical

  • Construction

  • Others


Bio Polymers Regional Outlook




  • North America



    • US

    • Canada


     




  • Europe



    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe


     




  • Asia-Pacific



    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific


     




  • Rest of the World




    • Middle East




    • Africa




    • Latin America





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