Polymers have been an inseparable part of many items and materials consumed on a daily basis. They have been observing exponential demand from various industries and sectors over the years. Factors such as durability, price, and adaptability make them one of the preferred materials in numerous industries.
The toxicity quotient of synthetic polymers and the damage caused to the environment by them increases the demand for alternatives to polymers. A feasible alternative for synthetic polymers is biopolymers. The advantages associated with biopolymers regarding the environment will increase their demand across various industries and sectors. Based on these factors, the biopolymers market will observe a stable growth trajectory during the forecast period of 2019-2027.
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Even if synthetic polymers are used on a large scale across infinite applications, there exists a bigger problem: environmental harm. They cause immense harm to the environment as they are not recycled in a systematic way. According to the data from Clean Air Council Organization, U.S. citizens alone use 102.1 bn plastic bags (synthetic polymer) each year.
What is more alarming is that a mere 1 percent of the bags are recycled. As they are not recycled and dumped across landfills, they leach harmful chemicals into the soil and ultimately cause harm to the environment. These statistics highlight the need to adopt biopolymers on a large scale, ultimately contributing to the growth of the biopolymers market.
Transparency Market Research’s (TMR’s) research report on the biopolymers market has every component that will assist the stakeholder in understanding the current scenario. The overall market research survey on biopolymers by TMR suggests a stable growth period.
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According to the TMR experts, the market for biopolymers is prognosticated to expand at 15 percent CAGR during the forecast period of 2019-2027. In the context of valuation, the base oil market is estimated to reach a valuation of US$ 13.2 bn by 2027, the end year of the forecast period, and was valued at US$ 4.2 bn in 2018.
Growing Adoption of Sustainable Packing for Water and Beverage Bottles to Bring Immense Growth Prospects
Many beverage companies are moving toward sustainable packaging due to the changing preferences of the consumers and the rising awareness about the importance of environmental conservation among them. For instance, Coca-Cola, one of the biggest brands in the beverage industry, launched PlantBottle, a fully-recyclable PET bottle developed with 100 percent plant-based material as a part of its sustainable packaging initiative. Such developments will assure positive growth for the biopolymers market during the forecast period.
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Textile Industry to Garner Considerable Growth for the Biopolymers Market
The textile industry utilizes biopolymers for processes ranging from fiber manufacturing to dyeing. Although synthetic polymers are efficient in terms of properties than biopolymers, the depleting resources used for manufacturing synthetic polymers and the rising need for using eco-friendly materials across various industries, the transition has gained substantial momentum. Furthermore, biopolymers have various advantages for textile manufacturing, such as less manufacturing cost and low-weight fabrics. These factors will increase the usage of biopolymers, eventually increasing the growth rate.
Properties of Biopolymers to Boost Adoption Rate
Biopolymers possess excellent properties such as flexibility, barrier to gases, chemical resistance, biodegradability, and thermal stability. These properties are beneficial in producing many consumer goods such as furniture, golf sticks, lipsticks, sanitary napkins, pressed powders, etc. Therefore, the properties of biopolymers will expand the growth landscape of the market.
Some well-entrenched players in the biopolymers market are Archer Daniels Midland Company, Danimer Scientific, Plantic Technologies Ltd, NatureWorks LLC, Galatea Bio Tech., E.I.du Pont de Nemours and Company, BASF SE, Novamont SpA, and FMC BioPolymer A.S.
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