ALBANY, New York, March 27, 2019 /PRNewswire/ -- The competitive landscape of global biopolymers market is largely oligopolistic in nature, finds Transparency Market Research (TMR). This is because of the increasing dominance of established players in the market. Top players of biopolymers market are ramping their investment in advance technologies to cater vivid demands of end user industries. Along with this, key players are adopting several strategies such as acquisitions and mergers, partnerships, and business expansions to consolidate their market share. For instance- Biome Bioplastics and Futamura, two leading supplier of biopolymers have partnered to demonstrate a range of bio-based and compostable multilayer films on 25 Feb 2019. Some of the other prominent players operating in the global biopolymers market are Galatea Bio Tech, E.l.du Pont de Nemours and Company, Total Corbion, Novamont S.p.A, Danimer Scientific, NatureWorks LLC, Plantic Technologies Ltd., Archer Daniels Midland Company, and BASF SE.
According to a recent market report by TMR, the global biopolymers market is anticipated to rise at an impressive 14.0% CAGR from 2017 to 2025. Rising at this CAGR, the market is projected to attain a valuation of US$7,774.7 mn by 2025. The analysts noted the global biopolymers market at US$2,422.1 mn value in 2016.
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On the basis of geography, Europe accounts for the leading market share in 2016 and is anticipated to continue its hold on the biopolymers market throughout the forecast period. The region is likely to generate revenue of US$3,082.38 mn by the end of 2025. On the basis of types, biodegradable polyesters segment holds major share in the global biopolymers market owing to its features such as high biodegradability and biocompatibility.
A Shift towards Sustainable Packaging to Offer Boost
Packaging is one of the fastest-growing industries across the globe. Packaging is vital aspect in businesses as it protects goods during transportation, storage, distribution, and use. It is indispensable requirement for preserving and moving goods. Packaging cater to various business sectors such as retail, institutional, and industrial. The increasing use of plastics in packaging is a matter of global concern as it poses serious threats to the environment. Both consumers, as well as manufacturers, have realized the importance of maintaining an ecological balance, with the advent of digital media. This is the reason, they have started adopting biopolymers, a sustainable packaging materials. This has resulted in the shift of consumer preference toward recyclable and eco-friendly materials. Owing to this, the demand of biopolymers has increased across the globe.
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Biopolymers are increasingly used for food packaging, pharmaceutical packaging, cosmetics packaging, and shopping bags. The demand for packaging made from bioplastics for wrapping organic food as well as for premium and branded products is on rise. This is expected to drive the global biopolymers market.
Easy Availability of Raw Material to Soar Adoption of Biopolymers
Despite several drivers, growth in the global biopolymers market is likely to suffer from several factors. Some of them are high production cost of biopolymers, lack of production technologies, and low holding strength as compared to plastics.
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Nevertheless, easy availability of feedstocks for manufacturing biopolymers is a strong factor increasing the demand for biopolymers. Furthermore, increasing variety of biopolymers is offering personalization to the end user industries. This is expected to offer a favorable impact in the global biopolymers market during the forecast period.
The study presented here is based on a report by Transparency Market Research (TMR) titled "Biopolymers Market (Type - Bio-PET, Bio-PE, Biodegradable Polyester, Biodegradable Starch Blends, PLA, PTT, and PHA; Application - Packaging, Textiles, Consumer Goods, Agriculture, Automotive, Electronics, and Construction) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017–2025."
The global biopolymers market is segmented based on:
- Biodegradable Polyesters
- Biodegradable Starch Blends
- Consumer Goods
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA
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