Bio-based Polymer Market - Forecast(2023 - 2028)

Report Code: CMR 85122 Report Format: PDF + Excel

Bio-based Polymer Market Overview

Bio-based polymers market size is forecast to reach US$29.8 billion by 2027, after growing at a CAGR of 18.2% during 2022-2027. Bio-based polymers are sustainable polymers synthesized from renewable resources such as biomass, starch, and rubber among others. The raw materials of bio-based polymers are obtained from plants and animals or enzymes or microorganisms. Polylactic acid or polylactide is considered biodegradable and compostable. The growing environmental concerns like disposal and recycling of synthetic polymers are one of the major factors driving the market for bio-based polymers during the forecast period. The growing adoption of bio-based materials among end-use industries such as packaging, pharmaceutical, construction, and consumer goods among others is also supporting the market growth for bio-based polymers. Among all bio-based polymers, chitosan is on the rise due to the presence of amino groups on the polymer backbone that distinguishes it as a unique natural cationic polymer.  According to the data published by European Bioplastics in cooperation with the nova-Institute, the global bioplastics production in 2021 reached 2.42 million tonnes. However, the high price of bio-based polymer is likely to hamper the market growth during the forecast period 2022-2027.

COVID-19 Impact

The COVID-19 pandemic impacted different industries; one of the few industries that were primarily hit to some extent was the manufacturing industry. The delay in manufacturing activities and shut down different end-use industries such as textile, personal care, food & beverages in both developed and developing nations impacted the market growth for bio-based polymers during covid-19. However, the bio-based polymers industry faced problems related to the supply chain, lack of workforce, and lack of raw materials supply among others.

Report Coverage

The report: “Bio-based Polymer Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments of the Bio-based Polymer industry.

By Raw Material: Starches, cellulose, Chitin, Gelatin, Others.
By Polymer Type: Polyethylene (PE), Polyamide (PA), Polyethylene terephthalate (PET), Polyurethane, Polybutylene succinate, Polyhydroxyalkanoates (PHAs), Polyethylene Terephthalate, Epoxies, Polyethylene Furanoate, and Others.
By Distribution Channel: Injection Molding, Extrusion, and Others.
By Application: Textile, Automotive & Transportation [Interior, Exterior, and Under Hood], Agriculture, Packaging [Rigid, and Flexible], Building & Construction [Flooring, Windows, Cladding, Pipes, Membranes, and Others], Consumer Goods [Electrical Appliances, Domestic Appliances, and Others], Medical/Healthcare, Food & Beverage, and Others.
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, and New Zeeland, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and Rest of the World (the Middle East and Africa).

Key Takeaways

  • The Asia Pacific is expected to register the highest CAGR of 21.5% during the forecast period (2022-2027). Rapid urbanization, emerging economies, and increasing construction activities are the major factors driving the market growth.
  • The Polyhydroxyalkanoates (PHAs), segment is expected to hold a major market share between the forecast period 2022-2027.
  • Increased focus on bio-based content over biodegradability among end-users are driving the market growth during the forecast period 2022-2027.

 Figure: Asia Pacific Bio-based Polymer Market Revenue, 2021-2027 (US$ Billion)

Bio-based Polymer Market Revenue

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Bio-based Polymer Market Segment Analysis - By Polymer Type

The Polyhydroxyalkanoates segment accounted for approximately 30% of the market share in 2021 and is estimated to grow at a significant CAGR during the forecast period. PHAs can be biodegradable in aquatic, soil, and municipal waste treatment environments and protects the environment and aquatic animals. The growing demand for rigid and flexible packaging among different industries such as food & beverage, and pharmaceutical is driving the demand for the polyethylene segment. Polyhydroxyalkanoate is used in different packaging applications such as carry bags, plastic films, and bottles among others. According to DCC China, the production of bottled drinking water reached a total annual consumption of 49 million metric tons in 2020.

Bio-based Polymer Market Segment Analysis - By End-Use Industry

The packaging segments accounted for approximately 58% of the market share in 2021 and are estimated to grow at a significant CAGR during the forecast period. The change in lifestyle of consumers along with increasing environmental regulations towards usage of synthetic polymers have increased the demand for bio-based polymers in the packaging industry. Plastics offer high durability and impermeability to water, which has driven the demand for polymers in the packaging industry. Packaging applications of bio-based polymers include food packaging, healthcare packaging, cosmetic & personal care packaging, and shopping bags, among others. In July 2020, Japan government has passed a new rule that all retailers be charged a fee for the use of plastic shopping bags, with the exception of biodegradable plastic bags and plastic bags containing at least 25 percent of renewable plant-based materials. According to the article Forbes, the Coca-cola Company produces approximately 3million tonnes of plastic packaging in a year. These are some of the factors driving the market for the packaging industry.

Bio-based Polymer Market Segment Analysis - By Geography

Asia Pacific region held a significant share in the Bio-based Polymer market in 2021, up to 42%, owing to the rapid growth in packaging, food & beverage, and pharmaceutical industries in the region. The presence of developing nations such as India and China is driving the market growth in the region. Abundant raw material sources and the availability of a workforce also support the regional demand. The presence of leading food & beverage and personal care manufacturing companies such as Nestle, PepsiCo, the Coco-cola company, LOreal SA., The Procter & Gamble., Beiersdorf AG., Unilever PLC., and others are supporting the regional growth during the forecast period. According to the facts published by China Chain Store & Franchise Association, China’s food and beverage (F&B) sector reached approximately US$595 billion in 2019.

Bio-based Polymer Market Drivers:

Growing adoption of eco-friendly polymers among consumers

Growing consumer awareness regarding sustainable plastic solutions and increasing efforts to eliminate the use of non-biodegradable conventional polymers are supporting the market growth of bio-based polymers. Traditional plastics, which are generally petroleum-based take decades to degrade the earth and cause environmental pollution. Bio-based products break down faster and degrade easily into the natural system. Further, the rate of decomposition of biodegradable plastics by the activities of microorganisms is much faster than that of traditional plastics used in the market space. Generally, bio-based polymers break down up to 60% within 180 days or less whereas traditional plastics, take more than 1,000 years to break down completely. The generation of plastic waste and subsequent uncontrolled plastic pollution is one of the major environmental problems, governments and agencies are facing today. SO governments are imposing strict rules regarding the disposal of synthetic plastics. The government is also investing in the development of alternative plastics. The European Commission allotted US114 million to R&D for the development of alternative feedstocks, as part of the Horizon 2020 Research Programme. These are some of the factors driving the market growth for bio-based polymers during the forecast period.

Bio-based Polymer Market Challenges:

Higher prices of bio-based polymers than synthetic polymers

Generally, the production cost of bio-based polymers is 20% to 80% higher than that of the normal polymers due to the high polymerization cost of bio-based polymers. In general, the bio-based materials are still at the development stage and have not been commercialized to the same level as their petrochemical counterparts, which have been developing rapidly for more than 50 years. The bio-based polymers occupy only 1% of total polymers produced globally whereas conventional polymers occupy 99% and are easily available in the marketplace. The cost of bio-based polymers varies from US$2/kg – US$5/kg and whereas traditional polymers are available at US$ 1/kg – US$2/kg. Hence the high price of bio-based polymers is hampering the market growth during the forecast period.

Bio-based Polymer Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Bio-based Polymer market. Major players in the Bio-based Polymer market include

  1. BASF SE
  2. PTT Global Chemical Public Company Limited
  3. DowDuPont
  4. Arkema Group
  5.  Mitsubishi Chemical Holdings Corporation
  6. Corbion
  7. Teijin Limited
  8. Toray Industries, Inc.
  9.  Kuraray Co., Ltd.
  10. Bio-On
  11.  Novamont SpA
  12. Finasucre SA.
  13. Other Companies

Recent Developments

  • In October 2021, SABIC launched a new portfolio of bio-based ULTEM™ resins that offer sustainability benefits while delivering exactly the same high performance and processability as incumbent ULTEM materials. ULTEM materials find its applications in consumer electronics, aerospace, automotive, and other industries where high temperature, dimensional stability, or demanding mechanical performance is required.

Relevant Reports

Report Code: CMR 0214 

Report Code: CMR 21241

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Bio-based Polymer Market- Market Overview
    1.1 Definitions and Scope 
2. Bio-based Polymer  Market- Executive Summary
    2.1 Key Trends by Material
    2.2 Key Trends by Polymer Type
    2.3 Key Trends by Process
    2.4 Key Trends by Application
    2.5 Key Trends by Geography
3. Bio-based Polymer Market– Comparative analysis 
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Bio-based Polymer  Market - Startup Companies Scenario Premium 
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Bio-based Polymer Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Bio-based Polymer  Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes 
7. Bio-based Polymer  Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Bio-based Polymer  Market – By  Material (Market Size -US$ Million/Billion)
    8.1 Starches
    8.2 Cellulose
    8.3 Chitin 
    8.4 Gelatin 
    8.5 Others
9. Bio-based Polymer  Market – By Polymer Type(Market Size -US$ Million/Billion)
    9.1 Polyethylene (PE)
    9.2 Polyamide (PA)
    9.3 Polyethylene terephthalate (PET)
    9.4 Polyurethane 
    9.5 Polybutylene succinate
    9.6 Polyhydroxyalkanoates (PHAs)
    9.7 Polyethylene Terephthalate 
    9.8 Epoxies
    9.9 Polyethylene Furanoate
    9.10 Others
10. Bio-based Polymer  Market – By Process (Market Size -US$ Million/Billion)
    10.1 Injection Molding 
    10.2 Extrusion
    10.3 Others
11. Bio-based Polymer  Market – By Application (Market Size -US$ Million/Billion)
    11.1 Textile
    11.2 Automotive & Transportation
        11.2.1 Interior
        11.2.2 Exterior
        11.2.3 Under Hood
    11.3 Agriculture 
    11.4 Packaging
    11.5 Building & Construction
        11.5.1 Flooring
        11.5.2 Windows
        11.5.3 Cladding
        11.5.4 Pipes
        11.5.5 Membranes
        11.5.6 Others
    11.6 Consumer Goods
        11.6.1 Electrical Appliances
        11.6.2 Domestic Appliances
        11.6.3 Others
    11.7 Medical/Healthcare
    11.8 Packaging
        11.8.1 Rigid 
        11.8.2 Flexible 
    11.9 Food & Beverage
    11.10 Others
12. Bio-based Polymer  Market - By Geography (Market Size -US$ Million/Billion)
    12.1 North America
        12.1.1 USA
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 UK
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Netherlands
        12.2.6 Spain
        12.2.7 Russia
        12.2.8 Belgium
        12.2.9 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 Japan
        12.3.3 India
        12.3.4 South Korea
        12.3.5 Australia and New Zealand
        12.3.6 Indonesia
        12.3.7 Taiwan
        12.3.8 Malaysia
        12.3.9 Rest of APAC
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Colombia
        12.4.4 Chile
        12.4.5 Rest of South America
    12.5 Rest of the World
        12.5.1 Middle East
            12.5.1.1 Saudi Arabia
            12.5.1.2 UAE
            12.5.1.3 Israel
            12.5.1.4 Rest of the Middle East
        12.5.2 Africa
            12.5.2.1 South Africa
            12.5.2.2 Nigeria
            12.5.2.3 Rest of Africa
13. Bio-based Polymer  Market– Entropy
    13.1New Product Launches
    13.2M&As, Collaborations, JVs and Partnerships
14. Bio-based Polymer  Market – Industry/Segment Competition Landscape Premium
    14.1 Company Benchmarking – Major Companies
    14.2 Market Share at Global Level - Major companies
    14.3 Market Share by Key Region - Major companies
    14.4 Market Share by Key Country - Major companies
    14.5 Market Share by Key Application - Major companies
    14.6 Market Share by Key Product Type/Product category - Major companies
15. Bio-based Polymer Market – Key Company List by Country Premium Premium
16. Bio-based Polymer Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10  Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"    

LIST OF TABLES

1.Global MARKET SEGMENTATION Market 2019-2024 ($M)
2.Global COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
2.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2019-2024 ($M) - Global Industry Research
3.Global MARKET SEGMENTATION Market 2019-2024 (Volume/Units)
4.Global COMPETITIVE LANDSCAPE Market 2019-2024 (Volume/Units)
4.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2019-2024 (Volume/Units) - Global Industry Research
5.North America MARKET SEGMENTATION Market 2019-2024 ($M)
6.North America COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2019-2024 ($M) - Regional Industry Research
7.South America MARKET SEGMENTATION Market 2019-2024 ($M)
8.South America COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
8.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2019-2024 ($M) - Regional Industry Research
9.Europe MARKET SEGMENTATION Market 2019-2024 ($M)
10.Europe COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
10.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2019-2024 ($M) - Regional Industry Research
11.APAC MARKET SEGMENTATION Market 2019-2024 ($M)
12.APAC COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
12.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2019-2024 ($M) - Regional Industry Research
13.MENA MARKET SEGMENTATION Market 2019-2024 ($M)
14.MENA COMPETITIVE LANDSCAPE Market 2019-2024 ($M)
14.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Bio-based Polymer Market Revenue, 2019-2024 ($M)
2.Canada Bio-based Polymer Market Revenue, 2019-2024 ($M)
3.Mexico Bio-based Polymer Market Revenue, 2019-2024 ($M)
4.Brazil Bio-based Polymer Market Revenue, 2019-2024 ($M)
5.Argentina Bio-based Polymer Market Revenue, 2019-2024 ($M)
6.Peru Bio-based Polymer Market Revenue, 2019-2024 ($M)
7.Colombia Bio-based Polymer Market Revenue, 2019-2024 ($M)
8.Chile Bio-based Polymer Market Revenue, 2019-2024 ($M)
9.Rest of South America Bio-based Polymer Market Revenue, 2019-2024 ($M)
10.UK Bio-based Polymer Market Revenue, 2019-2024 ($M)
11.Germany Bio-based Polymer Market Revenue, 2019-2024 ($M)
12.France Bio-based Polymer Market Revenue, 2019-2024 ($M)
13.Italy Bio-based Polymer Market Revenue, 2019-2024 ($M)
14.Spain Bio-based Polymer Market Revenue, 2019-2024 ($M)
15.Rest of Europe Bio-based Polymer Market Revenue, 2019-2024 ($M)
16.China Bio-based Polymer Market Revenue, 2019-2024 ($M)
17.India Bio-based Polymer Market Revenue, 2019-2024 ($M)
18.Japan Bio-based Polymer Market Revenue, 2019-2024 ($M)
19.South Korea Bio-based Polymer Market Revenue, 2019-2024 ($M)
20.South Africa Bio-based Polymer Market Revenue, 2019-2024 ($M)
21.North America Bio-based Polymer By Application
22.South America Bio-based Polymer By Application
23.Europe Bio-based Polymer By Application
24.APAC Bio-based Polymer By Application
25.MENA Bio-based Polymer By Application