Global Bio-Based Polymers Market is Forecast to Touch USD xx Billion by 2027, Growing at a CAGR of xx % During 2020 to 2027
Published | 11 January 2021
According to BlueWeave Consulting, the Bio-Based Polymers market has reached USD xx Million in 2019 and is further projected to reach USD xx billion by 2027, growing at a CAGR of xx% during the forecast period. As per the analysis and studies, the global production for bioplastics was valued at over 1 million tons in 2011. Out of which 60% of the production was BIO-BASED NON-BIODEGRADABLE plastics, as they have a wide spectrum of applications. From soft drinks bottling to durable items and in automotive applications. The innovations and sustainable developments made in the relevant field will grow even more of a production of bioplastics, eventually promoting the market growth by 2020.
Awareness for the Biodegradable polymers
As the plastics or polymers got introduced in the industries, it
has truly the core and has reached every nook, corner around the world. It is
all because polymers are some of the best-engineered materials ever produced.
Now, the increased use of plastics and polymers are getting outnumbered by
their disposability. Therefore, they’re being produced even more than ever
because of their popularity and their hassle-free manufacturing. But since the
idea of biopolymers and bio-based has been coined, the market for its
development, research, and technological trials. All of this could be credited
for that the consumers have grown more socially aware, environmentally
friendly, etc. The first biopolymers were extracted from plants such as corn,
sugarcane, soybeans mash, cellulose, and vegetable oil.
Bio-Based Polymers solve, the problem of disposal of plastics
As mentioned earlier, it is evident that the presence of
synthetic polymers has created an issue and whole new related problems. Also,
the increased dependence on synthetic polymers led to a heightened rise in
environmental risks related to its recycling and disposal. Because these aren’t
decomposed, they are either landfilled or combusted, now on combustion, they
release toxic and harmful greenhouse gases. Into the atmosphere making the
ozone deplete. But in recent years, strict environmental laws and regulations
are made to follow on regulated applications of fossil fuel and related
products. Governments are coming together globally, taking summit meetings, and
bringing various initiatives to encourage the development of biopolymers,
making their market grow as expected.
Europe to triumph the market for Biobased polymers
Europe registered the market in 2019, with a share of 44.9%. The
factors which helped it to sail through well are the presence of stringent
government laws, awareness around single-use plastics, R&Ds turning into
real-time investments, and most importantly environmental concerns. Not only
this, but the big shots of this region are also particularly helping and aiding
the populations by providing their products, in the harsh times of COVID 19.
The competitive landscape for the market is shared by significant market players such as Antron, Potatopak Limited,
Biobag Canada, Beijing Ltd., Toray Industries, Toyota Tsusho, Tianan Biologic
Material Co., M&G Chemicals, PTT Global Chemical Public Company Ltd., Showa
Denko K.K among Others.
The in-depth analysis of the report provides information about
growth potential, upcoming trends, and statistics of the global Bio-based
polymers market size & forecast. The report promises to provide recent
technology trends of the global Bio-based polymer market and industry insights
that help decision-makers to make sound strategic decisions. Furthermore, the
report also analyzes the growth drivers, challenges, and competitive dynamics
of the market.
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