Bio-Based Polymer Market (By Raw Material: Polyethylene (PE), Polyamide (PA), Polylactic Acid (PLA), Polyethylene Terephthalate (PET), Others; By End Use: Textile, Automotive, Industrial, Agriculture, Packaging, Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027

The global bio-based polymer market is anticipated to grow at a CAGR of around 5.6% during the forecast period 2020 to 2027 and to reach around US$ 10.7 Bn by 2027.

Market Dynamics

Stringent government regulation related to lower the use of synthetic polymer and adoption of plant based polymer products by manufacturers are major factors expected to drive the growth of global market. In addition, flourishing construction and automotive sector across the globe and players approach towards lowering the carbon footprints is resulting in demand for eco-friendly products this is another important factor expected to further support the growth of target market.

Major players are investing high for R&D activities, along with product development activities and innovative product offerings are among other factors expected to further augment the growth of target market.

• In 2019, Arkema a manufacturer of specialty chemicals and advanced materials introduced bio-based Synolac resins for construction industry. This is expected to help the company to enhance the customer base and increase the profit ratio.
• In 2019, BASF SE a largest chemical producer across the globe launched ecovio is a high-quality and versatile bioplastic. This is expected to help the company to expand the product portfolio and enhance the profit ratio.

In addition, players focus on business expansion through strategic merger and acquisition and new plant setup in order to expand business presence is another factor expected to further support the growth of target market.

• In 2019, Arkema a manufacturer of specialty chemicals and advanced materials launched its new bio-based polyamide plant in Singapore. This is expected to help the company to expand the business presence and enhance customer base.

However, factors such as high cost associated to operation and lack of developed supply- value chain are expected to hamper the growth of global bio-based polymer market.

Rapid technological advancements by major players, high investment for R&D activities and innovative product offerings are factors responsible to create new opportunities for players operating in the target market over the forecast period. In addition, players approach towards developing countries in order to track the untapped market is another factors expected to revenue support the growth of target market.

Bio-Based Polymer Market Segment Analysis, 2019

The global bio-based polymer market is segmented into raw material and end use the raw material segment is further bifurcated into polyethylene (PE), polyamide (PA), polylactic acid (PLA), polyethylene terephthalate (PET), and others. Among end use the automotive sector is expected to account for significant revenue share in the global market.

Segment Analysis by Region

The market in North America is expected to account for significant revenue share owing to stringent government regulation related to use of polymer. In addition, favorable government policies, increasing awareness activities is resulting in demand for plant base polymer products this is another important factor expected to further support the growth of target market.

Asia Pacific is expected to witness faster growth in the near future owing to flourishing automotive sector and demand for plant environment friendly products from manufactures. In addition, favorable business policies and player approach towards developing countries in order to increase the profit share and enhance the business presence is another important factor expected to further support the growth of target market in this region.

Competitive Landscape

The global market is highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.

Report coverage

The market research study on “Bio-Based Polymer Market (Raw Material: Polyethylene (PE), Polyamide (PA), Polylactic Acid (PLA), Polyethylene Terephthalate (PET), and Others; End Use: Textile, Automotive, Industrial, Agriculture, Packaging, and Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027”, offers a detailed insights on the global bio-based polymer market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global bio-based polymer market segment by raw material, end use and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global bio-based polymer market size and segment markets by raw material, end use and geography along with the information on companies operating in the market. The bio-based polymer market analysis is provided for major regional market including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report. The players profiled in the report PTT Global Chemical Public Company Limited, Arkema Group, BASF SE, DowDuPont, Corbion, and Mitsubishi Chemical Holdings Corporation.

Market Segmentation

Market By Raw Material

• Polyethylene (PE)
• Polyamide (PA)
• Polylactic Acid (PLA)
• Polyethylene Terephthalate (PET)
• Others

Market By End Use

• Textile
• Automotive
• Industrial
• Agriculture
• Packaging
• Others

Market By Region

North America

• US
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest if Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Meddle East & Africa