Biopolymers Market Trends 2024: Shaping the Future of Sustainable Plastics
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The Biopolymers Global Market Report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Biopolymers Market, 2024 Report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size
The biopolymer market size has grown rapidly in recent years. It will grow from $15.47 billion in 2023 to $17.57 billion in 2024 at a compound annual growth rate (CAGR) of 13.6%. The growth in the historic period can be attributed to increasing environmental concerns, increasing advancements in biopolymer technology, rising demand for eco-friendly packaging, growing awareness of biodegradable alternatives, and increasing consumer preference for sustainable products.
The biopolymer market is expected to see rapid growth in the next few years, reaching $29.45 billion in 2028 at a compound annual growth rate (CAGR) of 13.8%. This growth in the forecast period can be attributed to innovations in bio-based raw materials, increasing investments in biopolymer R&D, expanding applications in automotive and construction, growing adoption of circular economy practices, and the rising demand for biocompatible medical materials. Major trends include demand for high-performance bioplastics, growth in biopolymer applications in 3D printing, eco-conscious products, hybrid biopolymers with enhanced properties, and advances in recycling technologies.
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Scope of Biopolymers Market
The Business Research Company's reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Biopolymers Market Overview
Market Drivers
The rising awareness of plastic pollution is driving the growth of the biopolymer market. Plastic pollution refers to the accumulation of plastic waste in the environment, causing harm to ecosystems, wildlife, and human health. This awareness is driven by environmental campaigns, media coverage, scientific research, and government regulations. Biopolymers play a role by offering eco-friendly alternatives and emphasizing the need for sustainable solutions. For instance, in June 2024, the European Parliament adopted new rules to target marine plastic litter, aiming for 25% recycled content in plastic bottles by 2025 and 30% by 2030.
Market Trends
Major companies in the biopolymer market are developing semi-crystalline polyhydroxyalkanoate (PHA) biopolymers to enhance performance and biodegradability. A semi-crystalline PHA biopolymer offers higher heat stability and rigidity and is used in packaging, agricultural films, and durable goods. For instance, in May 2024, CJ Biomaterials launched PHACT S1000P, a semi-crystalline PHA tailored for applications requiring high heat stability, offering a more rigid option compared to previous products. This eco-friendly biopolymer is TÜV OK-certified for home and industrial composting, as well as marine and soil biodegradability, presenting sustainable solutions for packaging.
The Biopolymers Market Covered in This Report Is Segmented as Follows:
- By Product: Bio-Polyethylene Terephthalate, Bio-Polyethylene, Biodegradable Polyesters, Biodegradable Starch Blends, Polylactic Acid, Polytrimethylene Terephthalate, Polyhydroxyalkanoates, Other Products
- By Application: Films, Bottle, Fibers, Seed Coating, Vehicle Components, Medical Implants, Other Applications
- By End-Use: Packaging, Consumer Goods, Automotive, Textiles, Agriculture, Other End-Uses
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Regional Insights
Asia-Pacific was the largest region in the biopolymer market in 2023 and is expected to be the fastest-growing region in the forecast period. Regions covered in the biopolymers market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Key Companies
Major companies in the biopolymers market include BASF SE, Mitsubishi Chemical Corporation, Braskem S.A., Arkema S.A., Solvay S.A., Avient Corporation, Danimer Scientific Inc., NatureWorks LLC, Avantium N.V., AMSilk GmbH, SECOS Group Limited, BioLogiQ Inc., Total Corbion PLA, CuanTec Ltd., FKuR Kunststoff GmbH, Futerro SA, Mango Materials Inc., Greendot Biopak Pvt. Ltd., Rodenburg Biopolymers BV, and CO2BioClean GmbH.
Table of Contents
- Executive Summary
- Biopolymers Market Report Structure
- Biopolymers Market Trends And Strategies
- Biopolymers Market – Macro Economic Scenario
- Biopolymers Market Size And Growth
... - Biopolymers Market Competitor Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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