Bio-Sourced Polymers Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
In recent decades, progress in chemical processing and biotechnology has enabled the production of novel bio-sourced polymers, including polyhydroxyalkanoate and polylactic acid that have gained much traction from several industrial players. With a potential to replace petroleum-sourced polymers, novel bio-sourced polymers can help solve some of the acutest problems caused by the overuse of petroleum-sourced polymers, such as soil and water pollution, potential health impact, and overreliance on petroleum. In comparison to oil-sourced polymers, bio-sourced polymers are in their infancy and are currently used in niche instead of mass packaging markets.
Bio-sourced polymers are paving way for a promising near horizon for a viable source of novel materials in a leaner low carbon society, thereby are likely to witness hefty traction in the forthcoming years. The demand for bio-sourced polymers is expected to grow on the back of favorable regulatory outlook. Rising environmental concerns and rigorous regulations that propel adoption of green and sustainable materials in tandem with growing consumer preference for environment-friendly products, are fueling the growth of bio-sourced polymers market. Further, the global interest in bio-sourced polymers has accelerated in recent years owing to the desire and need to identify non-fossil fuel-sourced polymers.
Bio-Sourced Polymers Market- Notable Developments
Some of the most prominent competitors operating in the competitive landscape of global bio-sourced polymers market include –
Bio-Sourced Polymers Market Dynamics
Impeccable Substitute to Petroleum-Sourced Polymers
Petroleum-sourced polymers are highly resilient to natural decomposition and harm the ecosystem considerably. The surge in environmental concerns, shortfall of oil, and lack of biodegradability have propelled the R&D of bio-sourced polymers as a substitute to petroleum-sourced polymers. As bio-sourced polymers are eco-friendly, they are finding immense applications in diverse industries, including textile, transportation, automotive, packaging, and others. Bio-sourced polymers’ ability to be used in place of petroleum-sourced polymers is set to bring traction to bio-sourced polymers market in the forthcoming years.
Packaging Industry Continues to be the Key Consumer
A large slice of globally produced bio-sourced polymers go to the packaging industry, packaging being the largest end-user application for bio-sourced polymers. Bio-sourced polymers continue to get lucrative applications in packaging industry as they improve water resistance and enhance processing as well as mechanical properties. Extensive adoption of bio-sourced polymers primarily for rigid as well as flexible packaging, continue to trigger sales of bio-sourced polymers. Bio-sourced polymers are highly adopted in packaging industry, since packaging is meant for short time use and is needed in hefty quantities.
Asia-Pacific Emerges Highly Lucrative Region with Persistent Demand
Asia-Pacific continues to be a lucrative region for bio-sourced polymers owing to the extensive adoption of bio-based ethanol for chemical building blocks in the region. This expanding utilization has led to the formation of significant production facilities for bio-sourced MEG in Taiwan and India, and for bio-ethylene precursor for PE, MEG, in Brazil. With many SMEs converters which can’t afford vital substitutes for the processing equipment in place, the share for Asia-Pacific region is likely to grow in bio-sourced polymers market in forthcoming years.
Unique Growth Strategies Remain Paramount
To capitalize on the growing trend for bio-based and green materials, players in bio-sourced polymers market are increasingly indulging into forming joint ventures, alliances, and are acquiring local players to expand their customer outreach. Moreover, several bio-sourced polymers market players have been taking initiatives to educate consumers regarding the benefits of adopting bio-sourced materials, which is further bringing traction to bio-sourced polymers market.
Bio-Sourced Polymers Market –Segmentation
By Product Type:
The bio-sourced polymers study presents reliable qualitative and quantitative insights into:
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
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Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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