Global Bio Polymers Market Information- by Type (Bio-PE, Bio-PET, Poly lactic acid (PLA), Polyhydroxyalkanoate (PHA), Biodegradable polyesters, and Others), by Application (Films, Bottles, Bottles, Fibers, Seed Coating, Vehicle Components, Medical Implants, and Others), by End Use Industry(Packaging, Agriculture, Automotive, Pharmaceutical, Construction, and Others) and by Region - Forecast till 2023
Pune, India -- (SBWIRE) -- 04/17/2018 -- Segment Analysis
The Global Bio Polymers Market has been segmented into types, application and end use industries. On the basis of types, the global bio polymers market is segmented into bio- polyethylene (PE), bio- polyethylene terephthalate (PET), poly lactic acid (PLA), polyhydroxyalkanoate (PHA), biodegradable polyesters, and others (regenerated cellulose, starch blends). Among all poly lactic acid bio polymer segment is one of the fastest growing segments in the Global Biopolymers Market and will continue to lead the market over the forecasted period. Furthermore, poly lactic acid bio polymers is water-resistant and decomposes within three weeks when subjected to the industrial composting process. Therefore, poly lactic acid bio polymers finds widespread applications in domestic and various end user industry such as, packaging sector, injection molding, film and sheet casting. The increased demand from the bottling and packaging industries is expected to boost the market for poly lactic acid bio polymers in the global biopolymers market.
On the basis of application, the Global Bio Polymers Market is segmented into films, bottles, fibers, seed coating, vehicle components, medical implants, and others (printed circuit boards, audio devices, fuel and exhaust system). Among these applications, bottle, films, and fibers, have cover the largest market followed by seed coating, vehicle components, medical implants, and others.
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Furthermore, on the basis of end user Global Bio Polymer Market is segmented into packaging, agriculture, automotive, pharmaceutical, construction, and others (electronics, personal care, sports), among all packaging industry cover the largest market in addition packaging industry is the main driver of bio polymer market including various application such as, films, bags, sachets, containers and nets.
Packaging products made by biopolymers are used in the packaging of bakery goods juice bottles, dry snacks, meat trays, and fresh food.
Bio Polymers Market Analysis
The Global Bio polymers is expected to witness a significant growth of USD ~ 6.37 billion by 2023 with CAGR of ~12.05 % between 2016 and 2023.
Biopolymers are polymers which is produced from biomass, and also bio-degrade with the action of heat, micro-organisms, and moisture. Biopolymers can be made by left-over starch from a crop that has been grown for foodstuffs. Increased use of Bio-Polymers would reduce the dependence on fossil fuels, another benefit is that biopolymers are easily bio-degradable. Bio polymers plastics, such as biobased PE and biobased PET, are the main drivers of global biopolymers market growth. More than 65% of the bioplastics production capacity worldwide in 2016 was biobased, long-lasting plastics.
Bio Polymers has found in various applications such as films, bottles, fibers, seed coating, vehicle components, medical implants, and others. Increasing in demand of packaging industry is likely to drive the bio polymers market growth. The growing packaging and construction industry on account of developing domestic as well as commercial market particularly in Asia-Pacific and North America has boosted the Global Bio Polymers Market over the forecasted period.
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