Biopolymers Market Is Expected To Witness Significant Growth Over The Forecast Period 2020-2027

Biopolymers are polymeric materials produced from feedstock such as crops including corn and sugar cane or standing timber and residual wood. Biopolymers are biodegradable in nature, unlike conventional polymers or plastics that lead to various environmental issues such as pollution and global warming. This is turn is increasing awareness regarding use of bio-based polymers and is expected to boost growth of the global biopolymers market over the forecast period.

Among product type, the bio-based polyethylene terephthalate (PET) segment accounted for the largest market share in 2018. This is owing to properties of bio-based PET such as recyclability and biodegradability. The composition of this biopolymer is derived from 30% of plant-based ethylene glycol and 70% of terephthalic acid (TPA, derived from fossil). Bio-based PET is used in production of bottles, bags, cosmetic containers, carpets, sanitary products, foils, and others.

Among application, the packaging segment accounted for significant market share in the global biopolymers market in 2018, owing to growing food-packaging industry. For instance, according to the report published by World Packaging Organization in 2017, the global packaging market was valued at US$ 820 billion in 2016, out of which food and beverage segments contributed 51% and 18%, respectively.

Moreover, in 2018, BioLogiQ, Inc., a bioplastic resin manufacturing company specializing in environmentally friendly plastic products, announced to launch three new grades of plant-based plastic named as ‘NuPlastiQ BioPolymers’ for different end-use applications.

Major players operating in the global biopolymers market include, BASF SE, NatureWorks LLC, Braskem S.A., Novamont S.p.A., E.I. Du Pont De Nemours and Company, Plantic Technologies Ltd, Archer Daniels Midland Company, Danimer Scientific, Bio-on S.p.A., and Rodenburg Biopolymers B.V.

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Market Dynamics

Among end-use industry, the packaging segment is expected to witness significant market share in the global biopolymers market. Biopolymers are mainly used in packaging applications. The packaging sector is witnessing increasing demand for plastics. For instance, according to Plastics and Composites Sector Report (2015) of Academy of Sciences Malaysia, worldwide plastic demand is expected to reach 600 million tons by 2050. Biopolymers are sustainable alternative to convention plastics and are increasingly used in packaging industry, which in turn is expected to fuel growth of the market over the forecast period.

Among regions, Europe accounted for a significant market share in 2018, owing to increasing presence of key players in the region. For instance, in 2017, Novamont acquired remaining 22% of the packing company, JV Mater Biopolymer. This acquisition helped Novamont to access JV Mater Biopolymer’s packing facility in Patrica, Italy. The plant manufactures ‘Origo-Bi’ bio polyester, which is used in Novamont’s biodegradable and compostable bioplastics.

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