Bio-Based Polymers Market : Encouraging Government Actions Supporting Bio-Based Polymers Are Anticipated To Drive Market Expansion

Bio-Based Polymers Market Overview

According to a recent survey conducted by ChemView Consulting, the Global Plant Based Ice Creams Market grew at a CAGR of 7.5% between 2017-2021 and is estimated to be US$ 8,211.3Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 8.2% and is expected to reach a valuation of US$ 18,058.6Mn by 2032 end.

Due to an increase in demand for green chemicals worldwide, the bio-based polymers market is anticipated to expand significantly during the forecast period. The global market for bio-based polymers is also developing due to factors including strict regulations on the use of synthetic polymers. Since there are many government regulatory agencies close to the European Union, the market for synthetic polymers in Europe is growing slowly while the need for bio-based polymers is growing rapidly.

Additionally, encouraging government actions supporting bio-based polymers are anticipated to drive market expansion. On the other hand, high costs for bio-based polymers are expected to stifle market expansion.

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ChemView Consulting has analyzed that the growing demand for bioplastics is fueled by consumer knowledge of sustainable alternatives and widespread initiatives to stop using conventional plastics that cannot decompose. Traditional plastics, mostly petroleum-based, degrade slowly over many years and spend a lot of time in landfills. When discarded and reincorporated into the natural system, biodegradable polymers degrade more quickly. Additionally, biodegradable polymers decompose significantly more rapidly than conventional plastics because of the actions of microorganisms.

The greatest end-use sector for the utilization of bioplastics and biopolymers is the packaging. They held a 62.5% market share for bioplastics and biopolymers worldwide. The demand for bioplastics and biopolymers in the packaging business has surged due to tightening environmental restrictions and consumer lifestyle changes.

Segments Covered in Report

By Type:

  • Biodegradable
  • PLA
  • Starch Blends
  • PHA
  • PBS
  • Others
  • PCL
  • PBAT
  • Non-Biodegradable/Biobased
  • Others
  • BIO-PP

By End-Use:

  • Packaging
  • Rigid Packaging
  • Flexible Packaging
  • Consumer Goods
  • Electrical Appliances
  • Domestic Appliances
  • Others
  • Automotive & Transportation
  • Interior
  • Exterior
  • Under Hood
  • Textiles
  • Medical & Healthcare Textile
  • Personal care, clothes, and other textiles
  • Agriculture & Horticulture
  • Tapes & Mulch Films
  • Others
  • Others

By Region and Country:

  • North America (U.S., Canada)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
  • Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
  • Africa (South Africa, Nigeria, Egypt, Rest of Africa)

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Key Takeaways from the Bio-Based Polymers Market

  • Based on the type, the packaging is the greatest end-use sector for bioplastics and biopolymers. They held a 62.5% market share for bioplastics and biopolymers worldwide. The demand for bioplastics and biopolymers in the packaging business has surged due to tightening environmental restrictions and consumer lifestyle changes.
  • Based on the region, with a market share of 32.9%, Europe has the fastest-growing market for bioplastics and biopolymers due to rising consumer demand for environmentally friendly plastic products and the region’s quickly expanding population. The expansion of numerous end-use industries in this area has been fueled by increasing consumer purchasing power.

Competition Summary

Key companies covered in the market study are NatureWorks, Braskem, BASF, Total Corbion, Novamont, Biome Bioplastics, Mitsubishi Chemical Holding Corporation, Biotec, Toray Industries, Plantic Technologies

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Report Key Highlights and Coverage

  • Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
  • Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
  • The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
  • Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
  • Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
  • Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
  • Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
  • Key drivers, restraints, opportunities, and emerging trends impact market growth.
  • Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
  • Strategic market analysis, recommendations, and future headways on crucial winning strategies.

About ChemView Consulting

ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have collaborated with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.

What sets ChemView Consulting apart?

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