Global Biopolymers Market
Biopolymers are biomass-derived polymers, and furthermore bio-degrade with the activity of heat, microorganisms, and dampness. Biopolymers can be made by left-over starch from a harvest that has been developed for food products. Expanded utilization of bio-polymers would decrease the reliance on petroleum derivatives in the coming years. Bio-polymers are being utilized to grow elite coatings which can enhance the first properties of the plastic layer underneath. There is a growing demand to supplant the manufactured polymers utilized in packaging applications and to decrease the overall amount of plastic utilized. The growing concerns towards sustainable environment is anticipated to offer powerful prospects for biopolymers and plastics in the coming years.
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The report gives a detailed account of the global biopolymers market while providing a rich analysis of the market situation, with in-depth focus on its drivers, opportunities, restraints and trends. The report also looks into the effect of product in related industries and application areas. The global reports provides exhaustive information on the procedures that current vendors in the market could attempt so as to pick up momentum in the business, alongside an examination on entry points for new players. The market intelligence study represents an intensive guide on the global market for biopolymers over the forecast duration mentioned.
As per TMR analysts, the global market for biopolymers is likely to reach an evaluation of US$7,774.7 mn by the end of 2025, rising from US$2,422.1 mn in 2016. Over the forecast period of 2017 to 2025, the market is prognosticated to grow at 14.0% CAGR.
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On the basis of type, the global biopolymers market has been segmented into biodegradable polyesters, bio-PET, biodegradable starch blends, bio-PE, PTT, PLA, PHA, and some others. Out of these, the type of biodegradable polyester holds substantial market share. This could be attributed to the exceptional properties of biocompatibility and biodegradability that it offers. Bio-PE, and bio-PET are also expected to demonstrate high growth potential over the forecast period due to high demand from several applications such as consumer goods, packaging, agriculture, construction, and electronics.
Based on application, the market is segmented into textiles, agriculture, consumer goods, construction, electronics, packaging, and others. Among these, packaging is an application segment that is predicted to witness leading market share in terms of revenue. The growth of this segmented could be ascribed to the sustainability and biodegradability offered by biopolymers. Additionally, agriculture is an application segment that is expected to demonstrate high growth potential over the forecast period, and is expected to surpass demand among all the application segments. The technological advances in agriculture are likely to fuel demand for biopolymers in this application segment in forthcoming years.