Biopolymers Market - Size, Share, Outlook, and Opportunity Analysis, 2018-2026

Biopolymers Market - Size, Share, Outlook, and
Opportunity Analysis, 2018-2026
Biopolymers are polymeric materials produced from feedstock such as crops including corn
and sugar cane or standing timber and residual wood. Biopolymers are biodegradable in
nature, unlike conventional polymers or plastics that lead to various environmental issues
such as pollution and global warming. This is turn is increasing awareness regarding use of
bio-based polymers and is expected to boost growth of the global biopolymers market over
the forecast period.
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Among product type, the bio-based polyethylene terephthalate (PET) segment accounted for
the largest market share in 2018. This is owing to properties of bio-based PET such as
recyclability and biodegradability. The composition of this biopolymer is derived from 30%
of plant-based ethylene glycol and 70% of terephthalic acid (TPA, derived from fossil).
Bio-based PET is used in production of bottles, bags, cosmetic containers, carpets, sanitary
products, foils, and others.
Among application, the packaging segment accounted for significant market share in the
global biopolymers market in 2018, owing to growing food-packaging industry. For instance,
according to the report published by World Packaging Organization in 2017, the global
packaging market was valued at US$ 820 billion in 2016, out of which food and beverage
segments contributed 51% and 18%, respectively.
Europe accounted for significant market share in the global biopolymers market in 2018,
owing to increasing governmental initiatives to restrict use of conventional plastic. For
instance, under the Plastic Bags Directive in European Union (EU), consumers cannot use
over 90 bags (conventional plastic bags) per year by 2019, which is lower than the EU
average of 200 bags a year. Moreover, in France, The Energy Transition for Green Growth
Act, which was effective from January 2017, banned use of conventional plastic bags for
fruits and vegetables packaging. Therefore, restrictions imposed on the use of conventional
plastic bags is expected to propel growth of the biopolymers market in Europe.
However, high production cost that leads to even higher cost of biopolymers is expected to
restrain the market growth. Biopolymers are 2.5 to 7.5 times more expensive than
conventional major petroleum-based plastics. For instance, bio-based ethylene is more costly
than a petroleum-based ethylene. Therefore, high cost of biopolymers is expected to limit
growth of the biopolymers market over the forecast period.
The global biopolymers market was valued at US$ 9131.9 Million in 2018, and is expected to
register a CAGR of 13.8% in terms of revenue over the forecast period (2019 – 2027), to
reach US$ 28,101.7 Million by 2027.
Asia Pacific accounted for significant market share in the global biopolymers market in 2018,
and expected to witness significant growth over the forecast period. This is owing to growing
packaging industry in the region. Significant growth in the packaging industry is expected to
increase demand for plastics, which in turn is expected to boost the market growth. For
instance, according to India Brand Equity Foundation report on Engineering and Capital
Goods, published in September 2017, demand for plastics used in packaging in India is
expected to reach 9 million tons by 2020.
Furthermore, key players in the market are focused on adopting strategies such as technology
development to strengthen their footprint in the global biopolymers market. For instance, in
2016, Natur-Tec and NatureWorks introduced a jointly developed technology that lowers the
cost of compostable serviceware, while increasing its performance. The platform is based on
low carbon footprint Ingeo biopolymer that produces heat resistant serviceware with rigidity
and higher toughness than either polypropylene (PP) or polystyrene (PS)
Moreover, in 2018, BioLogiQ, Inc., a bioplastic resin manufacturing company specializing in
environmentally friendly plastic products, announced to launch three new grades of
plant-based plastic named as ‘NuPlastiQ BioPolymers’ for different end-use applications.
Major players operating in the global biopolymers market include, BASF SE, NatureWorks
LLC, Braskem S.A., Novamont S.p.A., E.I. Du Pont De Nemours and Company, Plantic
Technologies Ltd, Archer Daniels Midland Company, Danimer Scientific, Bio-on S.p.A., and
Rodenburg Biopolymers B.V
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The research report on Biopolymers Market is segmented by Product Type, by Application and by Region - Size, Share, Outlook, and Opportunity Analysis, 2018-2026