Biopolymers and Bioplastic Market, 44% of Growth to Originate from Europe, Technavio
NEW YORK, May 1, 2024 /PRNewswire/ -- The global biopolymers and bioplastic market size is estimated to grow by USD 75.14 billion from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 14.36% during the forecast period. Europe is estimated to contribute 44%. to the growth of the global market.
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The Biopolymers and Bioplastic Market report forecasts market growth by revenue at global, regional & country levels from 2017 to 2027.
Region Outlook
- North America
- Europe
- APAC
- South America
- Middle East & Africa
2. Europe - Europe accounts for 44% of the global market growth, driven by a matured market for eco-friendly bioplastics and biopolymers. Consumer demand for sustainable packaging, particularly in urban areas, fuels the production of biodegradable products like waste bags, packaging, bottles, films, and carrier bags. Key players such as Nature Works LLC, ABB technology, and Braskem dominate the industry.
- The EMEA region, notably the US and UK, sees significant utilization of bioplastics in pharmaceutical and food sectors. Regulations like REACH and EPA guide the market, while companies like Ledesma in Rotterdam use sugarcane for production. Asia-Pacific also experiences growth, with bioplastics playing a crucial role in the circular economy through products like mulch films and food containers.
- Government subsidies and regulatory policies promote the use of bio-based resins, fostering sustainability awareness and driving market growth. Innovation and sustainable manufacturing improvements further propel the market forward.
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Research Analysis
The Biopolymers and Bioplastics Market is driven by factors like carbon footprint reduction, compostability, and energy costs. With a growing emphasis on environmental consciousness, big businesses are increasingly investing in bio-based content. Biodegradability is a key factor driving market growth, as it addresses concerns about landfills.
Biodegradable plastics, derived from living organisms like plants and microbes, offer a sustainable solution. Renewable sources such as vegetable fats and oils are being utilized to produce biopolymers, further reducing carbon dioxide and methane emissions. Water and inorganic compounds play crucial roles in the production process. Materials like straw, woodchips, and sawdust are utilized in biopolymer production, contributing to cost-effectiveness. However, border controls pose challenges for international trade in bioplastics.
The financial sector plays a significant role in funding research and development in this field, ensuring continued innovation and market growth.
Market Overview
The biopolymers and bioplastic market is shaped by various factors like carbon footprint, compostability, and energy costs. With a focus on bio-based content and biodegradability, it responds to environmental consciousness. Concerns over landfills drive the demand for biodegradable plastics, which are decomposed by living organisms like plants and microbes.
Renewable sources, including vegetable fats and oils, are key ingredients. Biopolymers, derived from natural sources like straw, woodchips, and sawdust, are gaining traction. However, border controls and inflation affect the market dynamics. Big businesses and the financial sector play a significant role in its growth and development.
The market's progress relies on a balance between environmental concerns and economic viability, while the reduction of carbon dioxide and methane emissions remains a priority. Water and inorganic compounds also play essential roles in the production process.
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Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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