Biopolymers Market - Forecast (2021 - 2026)
As per a report by IndustryARC on the global polymers market, its size in 2018 was evaluated to be staggering $666.6 billion in the year 2018. This market is foreseen to experience a noticeable growth with a compound annual growth rate (CAGR) of 5.1%. The global polymers market is getting majorly disrupted by biopolymers- one of the world’s most organic compounds. The categorization of biopolymers is largely dependent on its end-user industry. This market enjoys a varied number of end-users including some promising ones such as pharmaceutical, healthcare, and food and beverage industry. In the medical industry, biodegradable polyesters are extremely useful in manufacturing surgical implants. And in the food and beverage industry, biopolymers are primarily used for manufacturing cellophane sheets that are massively utilized for food packaging.
In the year 2018, the global biopolymer market experienced noticeable growth, which is why its evaluated size was at $12 billion. During the forecast period of 2019-2025, the biopolymer market will undergo an outstanding growth with a CAGR of 19%.
Biopolymers Market Outlook:
Biopolymers, simply are polymers that are obtained from living organisms and are completely biodegradable. Some common examples of biopolymers include proteins, carbohydrates, DNA, RNA, lipids, nucleic acids, and peptides. Since these are composed out of living beings, they are completely neutral towards carbon and can be easily recycled or renewed. Biopolymers do not create any carbon dioxide pollution because crops absorb the CO2 emitted by them instead of getting released in the atmosphere. There are four different kinds of biopolymers- sugar based biopolymers, cellulose based biopolymers, synthetic based biopolymers, and natural polymers. The European Biomass Industry Association in its namesake continent has made several efforts to increase the usage of biopolymers in the market. Their efforts have paid off since it is reflected by Europe’s 2018 share in the global biopolymer market, which stood at 55%.
Biopolymers Market Growth Drivers:
Increasing Use In The Pharmaceutical Industry For Biomedical Appications
Biopolymers are now being credited with their extensive use in the pharmaceutical industry for healing of wounds of any shape, size, or depth. Some common biopolymers such as gelatin, chitosan, pectin, and alginate are used in the production of hydrogels and which help in creation of a moist environment for wounds which are dry. These biopolymers are also being used for wound dressings. These factors are acting as esteemed growth drivers for the global biopolymer market.
Biopolymers Market Challenges:
A significant issue for the biopolymer market is the amount of initial investment required in production of the product. Key market players are trying to combat this challenge by establishing joint ventures with agricultural companies in order to develop symbiotic relationships for growth of biopolymers market.
In the year 2018, the global biopolymer market experienced noticeable growth, which is why its evaluated size was at $12 billion. During the forecast period of 2019-2025, the biopolymer market will undergo an outstanding growth with a CAGR of 19%.
Biopolymers Market Outlook:
Biopolymers, simply are polymers that are obtained from living organisms and are completely biodegradable. Some common examples of biopolymers include proteins, carbohydrates, DNA, RNA, lipids, nucleic acids, and peptides. Since these are composed out of living beings, they are completely neutral towards carbon and can be easily recycled or renewed. Biopolymers do not create any carbon dioxide pollution because crops absorb the CO2 emitted by them instead of getting released in the atmosphere. There are four different kinds of biopolymers- sugar based biopolymers, cellulose based biopolymers, synthetic based biopolymers, and natural polymers. The European Biomass Industry Association in its namesake continent has made several efforts to increase the usage of biopolymers in the market. Their efforts have paid off since it is reflected by Europe’s 2018 share in the global biopolymer market, which stood at 55%.
Biopolymers Market Growth Drivers:
Rapid Depletion Of Petroleum Reserves
According to analysis done by Colin Campbell, co-founder of the Oil Depletion Analysis Centre in London, around 944 billion barrels of oil has been extracted in human history. And only 764 billion reserves are yet to be extracted from. These statistics are alarming as humans are not far away from a time when they will have to completely depend on a world without oil. Depletion of petroleum reserves is providing necessary impetus to the global biopolymers market as companies are under pressure to innovate, invest, and invent.
According to analysis done by Colin Campbell, co-founder of the Oil Depletion Analysis Centre in London, around 944 billion barrels of oil has been extracted in human history. And only 764 billion reserves are yet to be extracted from. These statistics are alarming as humans are not far away from a time when they will have to completely depend on a world without oil. Depletion of petroleum reserves is providing necessary impetus to the global biopolymers market as companies are under pressure to innovate, invest, and invent.
Increasing Use In The Pharmaceutical Industry For Biomedical Appications
Biopolymers are now being credited with their extensive use in the pharmaceutical industry for healing of wounds of any shape, size, or depth. Some common biopolymers such as gelatin, chitosan, pectin, and alginate are used in the production of hydrogels and which help in creation of a moist environment for wounds which are dry. These biopolymers are also being used for wound dressings. These factors are acting as esteemed growth drivers for the global biopolymer market.
Biopolymers Market Challenges:
A significant issue for the biopolymer market is the amount of initial investment required in production of the product. Key market players are trying to combat this challenge by establishing joint ventures with agricultural companies in order to develop symbiotic relationships for growth of biopolymers market.
Biopolymers Market Key Players Perspective:
Several key market players are actively manufacturing in the biopolymers market including ASF SE, Danimer Scientific, Novamont SpA, Galatea Bio Tech, Total Corbion, Plantic Technologies Ltd., FMC BioPolymer A.S, NatureWorks LLC, Sigma-Aldrich, and Biome Technologies Ltd.
Several key market players are actively manufacturing in the biopolymers market including ASF SE, Danimer Scientific, Novamont SpA, Galatea Bio Tech, Total Corbion, Plantic Technologies Ltd., FMC BioPolymer A.S, NatureWorks LLC, Sigma-Aldrich, and Biome Technologies Ltd.
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