Product Code: PM1615
The global bio-based polymer market size is expected to reach USD 44,045.01 Million by 2032, according to a new study by Polaris Market Research. The report "Bio-Based Polymer Market Share, Size, Trends, Industry Analysis Report, By Product (PET, PA, PEF, PE, PUR, PBS, PHA, PTT, Epoxies, Others); By End-Use; By Region; Segment Forecast, 2024 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
In recent years, there has been a noticeable shift in consumer preference towards bio-based plastics, driven by growing environmental awareness and concerns about the impact of traditional plastics on the planet. This shift reflects a broader global movement towards sustainability and eco-conscious living. Bio-based plastics, derived from renewable sources such as plants, offer a promising alternative to conventional plastics derived from fossil fuels. This change in consumer sentiment has significantly influenced the bio-based polymer market, propelling its growth and innovation. As consumers become more conscious of their ecological footprint, they are actively seeking products and packaging made from bio-based polymers. This demand surge has encouraged manufacturers to invest in research and development, leading to the creation of new and innovative bio-based polymer formulations.
The bio-based polymer market has experienced a remarkable expansion, driven by this shift in consumer preference. This market encompasses a diverse range of polymers, including polylactic acid (PLA), polyhydroxyalkanoates (PHA), and starch-based polymers, all derived from renewable sources. Industries such as packaging, automotive, textiles, and agriculture have embraced these bio-based materials, replacing conventional plastics in various applications. Bio-based polymers not only offer environmental benefits by reducing reliance on fossil fuels but also possess desirable properties such as biodegradability and compostability. As a result, businesses are increasingly adopting bio-based polymers to meet consumer demand for sustainable products while aligning with corporate sustainability goals.
Moreover, the growth of the bio-based polymer market has been further fueled by government initiatives and regulations promoting eco-friendly practices. Many countries have implemented policies encouraging the use of bio-based materials, offering incentives and subsidies to businesses that adopt sustainable practices. These supportive measures have created a conducive environment for the bio-based polymer industry to thrive, fostering innovation and investment in green technologies. Additionally, collaborations between research institutions, biotechnology companies, and manufacturers have accelerated the development of advanced bio-based polymers, addressing specific industry needs and challenges.
In conclusion, the shift in consumer preference towards bio-based plastics has reshaped the landscape of the polymer industry. This change, driven by environmental concerns and a need for sustainable living, has propelled the bio-based polymer market forward. With an increasing number of consumers opting for products made from renewable sources, the market is poised for continuous growth and innovation. As technology advances and awareness spreads, bio-based polymers are likely to play a significant role in shaping a more sustainable future for the planet and meeting the evolving demands of environmentally conscious consumers and industries alike.
Bio-Based Polymer Market Report Highlights
In 2023, the PA segment accounted for the largest market share in the bio-based polymer market. Additionally, the growth in the global automobile market, textile industry development, and increasing consumer demand for eco-friendly products all contribute to the rising demand for bio-based polyamides, as they offer sustainable solutions that align with both environmental goals and industry-specific needs.
The packaging segment is expected to grow at the fastest CAGR during the forecast period. Innovative packaging concepts aim to balance biodegradability with performance, utilizing novel materials in mono- or multilayers to meet specific application requirements this result in increasing the market demand.
In 2023, Europe dominated the largest market. Increasing demand for electric vehicles and rising online shopping has increased demand for bio-based polymer market.
Asia Pacific is expected to grow at the fastest CAGR in bio-based polymer market. Various governments in the Asia-Pacific region are implementing policies and incentives to promote the use of biodegradable packaging and reduce plastic pollution.
The global key market players are BASF SE, Braskem, Natureworks LLC, Novamont S.p.A., Biome Bioplastics, TotalEnergies Corbion, Maip Group, Mitsubishi Chemical Corporation, Plantic, Toray Industries, Inc.
Polaris Market Research has segmented the bio-based polymer market repair report based on product, end-use, and region.
Bio-Based Polymer, Product Outlook (Revenue - USD Million, 2019 - 2032)
- PET
- PA
- PEF
- PE
- PUR
- PBS
- PHA
- PTT
- Epoxies
- Others
Automotive Ceramics, End-Use Outlook (Revenue - USD Million, 2019 - 2032)
- Packaging
- Textile
- Consumer Goods
- Automotive & Transportation
- Agriculture
- Electronics
- Others
Bio-Based Polymer, Regional Outlook (Revenue - USD Million, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Australia
- Rest of Asia Pacific
- Latin America
- Argentina
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
- Rest of Middle East & Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Bio-based Polymers Market Insights
- 4.1. Bio-based Polymers Market - Industry Snapshot
- 4.2. Bio-based Polymers Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Government regulations and policies have been projected to spur product demand
- 4.2.1.2. Shift in consumer preference towards bio-based plastics
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Cost of Production
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. Bio-based Polymers Industry trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Bio-based Polymers Market, by Product
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Bio-based Polymers, by Product, 2019-2032 (USD Million)
- 5.3. PET
- 5.3.1. Global Bio-based Polymers Market, by PET, by Region, 2019-2032 (USD Million)
- 5.4. PA
- 5.4.1. Global Bio-based Polymers Market, by PA, by Region, 2019-2032 (USD Million)
- 5.5. PEF
- 5.5.1. Global Bio-based Polymers Market, by PEF, by Region, 2019-2032 (USD Million)
- 5.6. PUR
- 5.6.1. Global Bio-based Polymers Market, by PUR, by Region, 2019-2032 (USD Million)
- 5.7. PBS
- 5.7.1. Global Bio-based Polymers Market, by PBS, by Region, 2019-2032 (USD Million)
- 5.8. PHA
- 5.8.1. Global Bio-based Polymers Market, by PHA, by Region, 2019-2032 (USD Million)
- 5.9. PTT
- 5.9.1. Global Bio-based Polymers Market, by PTT, by Region, 2019-2032 (USD Million)
- 5.10. Epoxies
- 5.10.1. Global Bio-based Polymers Market, by Epoxies, by Region, 2019-2032 (USD Million)
- 5.11. Others
- 5.11.1. Global Bio-based Polymers Market, by Others, by Region, 2019-2032 (USD Million)
6. Global Bio-based Polymers Market, by End-Use
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Bio-based Polymers Market, by End-Use, 2019-2032 (USD Million)
- 6.3. Packaging
- 6.3.1. Global Bio-based Polymers Market, by Packaging, by Region, 2019-2032 (USD Million)
- 6.4. Textile
- 6.4.1. Global Bio-based Polymers Market, by Textile, by Region, 2019-2032 (USD Million)
- 6.5. Consumer Goods
- 6.5.1. Global Bio-based Polymers Market, by Consumer Goods, by Region, 2019-2032 (USD Million)
- 6.6. Automotive & Transportation
- 6.6.1. Global Bio-based Polymers Market, by Automotive & Transportation, by Region, 2019-2032 (USD Million)
- 6.7. Agriculture
- 6.7.1. Global Bio-based Polymers Market, by Agriculture, by Region, 2019-2032 (USD Million)
- 6.8. Electronics
- 6.8.1. Global Bio-based Polymers Market, by Electronics, by Region, 2019-2032 (USD Million)
- 6.9. Others
- 6.9.1. Global Bio-based Polymers Market, by Others, by Region, 2019-2032 (USD Million)
7. Global Bio-based Polymers Market, by Geography
- 7.1. Key findings
- 7.2. Introduction
- 7.2.1. Bio-based Polymers Market Assessment, By Geography, 2019-2032 (USD Million)
- 7.3. Bio-based Polymers Market - North America
- 7.3.1. North America: Bio-based Polymers Market, by End-Use, 2019-2032 (USD Million)
- 7.3.2. North America: Bio-based Polymers Market, by Product, 2019-2032 (USD Million)
- 7.3.3. Bio-based Polymers Market - U.S.
- 7.3.3.1. U.S.: Bio-based Polymers Market, by End-Use, 2019-2032 (USD Million)
- 7.3.3.2. U.S.: Bio-based Polymers Market, by Product, 2019-2032 (USD Million)
- 7.3.4. Bio-based Polymers Market - Canada
- 7.3.4.1. Canada: Bio-based Polymers Market, by End-Use, 2019-2032 (USD Million)
- 7.3.4.2. Canada: Bio-based Polymers Market, by Product, 2019-2032 (USD Million)
- 7.4. Bio-based Polymers Market - Europe
- 7.4.1. Europe: Bio-based Polymers Market, by End-Use, 2019-2032 (USD Million)
- 7.4.2. Europe: Bio-based Polymers Market, by Product, 2019-2032 (USD Million)
- 7.4.3. Bio-based Polymers Market - UK
- 7.4.3.1. UK: Bio-based Polymers Market, by End-Use, 2019-2032 (USD Million)
- 7.4.3.2. UK: Bio-based Polymers Market, by Product, 2019-2032 (USD Million)
- 7.4.4. Bio-based Polymers Market - France
- 7.4.4.1. France: Bio-based Polymers Market, by End-Use, 2019-2032 (USD Million)
- 7.4.4.2. France: Bio-based Polymers Market, by Product, 2019-2032 (USD Million)
- 7.4.5. Bio-based Polymers Market - Germany
- 7.4.5.1. Germany: Bio-based Polymers Market, by End-Use, 2019-2032 (USD Million)
- 7.4.5.2. Germany: Bio-based Polymers Market, by Product, 2019-2032 (USD Million)
- 7.4.6. Bio-based Polymers Market - Italy
- 7.4.6.1. Italy: Bio-based Polymers Market, by End-Use, 2019-2032 (USD Million)
- 7.4.6.2. Italy: Bio-based Polymers Market, by Product, 2019-2032 (USD Million)
- 7.4.7. Bio-based Polymers Market - Spain
- 7.4.7.1. Spain: Bio-based Polymers Market, by End-Use, 2019-2032 (USD Million)
- 7.4.7.2. Spain: Bio-based Polymers Market, by Product, 2019-2032 (USD Million)
- 7.4.8. Bio-based Polymers Market - Netherlands
- 7.4.8.1. Netherlands: Bio-based Polymers Market, by End-Use, 2019-2032 (USD Million)
- 7.4.8.2. Netherlands: Bio-based Polymers Market, by Product, 2019-2032 (USD Million)
- 7.4.9. Bio-based Polymers Market - Russia
- 7.4.9.1. Russia: Bio-based Polymers Market, by End-Use, 2019-2032 (USD Million)
- 7.4.9.2. Russia: Bio-based Polymers Market, by Product, 2019-2032 (USD Million)
- 7.5. Bio-based Polymers Market - Asia Pacific
- 7.5.1. Asia Pacific: Bio-based Polymers Market, by End-Use, 2019-2032 (USD Million)
- 7.5.2. Asia Pacific: Bio-based Polymers Market, by Product, 2019-2032 (USD Million)
- 7.5.3. Bio-based Polymers Market - China
- 7.5.3.1. China: Bio-based Polymers Market, by End-Use, 2019-2032 (USD Million)
- 7.5.3.2. China: Bio-based Polymers Market, by Product, 2019-2032 (USD Million)
- 7.5.4. Bio-based Polymers Market - India
- 7.5.4.1. India: Bio-based Polymers Market, by End-Use, 2019-2032 (USD Million)
- 7.5.4.2. India: Bio-based Polymers Market, by Product, 2019-2032 (USD Million)
- 7.5.5. Bio-based Polymers Market - Malaysia
- 7.5.5.1. Malaysia: Bio-based Polymers Market, by End-Use, 2019-2032 (USD Million)
- 7.5.5.2. Malaysia: Bio-based Polymers Market, by Product, 2019-2032 (USD Million)
- 7.5.6. Bio-based Polymers Market - Japan
- 7.5.6.1. Japan: Bio-based Polymers Market, by End-Use, 2019-2032 (USD Million)
- 7.5.6.2. Japan: Bio-based Polymers Market, by Product, 2019-2032 (USD Million)
- 7.5.7. Bio-based Polymers Market - Indonesia
- 7.5.7.1. Indonesia: Bio-based Polymers Market, by End-Use, 2019-2032 (USD Million)
- 7.5.7.2. Indonesia: Bio-based Polymers Market, by Product, 2019-2032 (USD Million)
- 7.5.8. Bio-based Polymers Market - South Korea
- 7.5.8.1. South Korea: Bio-based Polymers Market, by End-Use, 2019-2032 (USD Million)
- 7.5.8.2. South Korea: Bio-based Polymers Market, by Product, 2019-2032 (USD Million)
- 7.6. Bio-based Polymers Market - Middle East & Africa
- 7.6.1. Middle East & Africa: Bio-based Polymers Market, by End-Use, 2019-2032 (USD Million)
- 7.6.2. Middle East & Africa: Bio-based Polymers Market, by Product, 2019-2032 (USD Million)
- 7.6.3. Bio-based Polymers Market - Saudi Arabia
- 7.6.3.1. Saudi Arabia: Bio-based Polymers Market, by End-Use, 2019-2032 (USD Million)
- 7.6.3.2. Saudi Arabia: Bio-based Polymers Market, by Product, 2019-2032 (USD Million)
- 7.6.4. Bio-based Polymers Market - UAE
- 7.6.4.1. UAE: Bio-based Polymers Market, by End-Use, 2019-2032 (USD Million)
- 7.6.4.2. UAE: Bio-based Polymers Market, by Product, 2019-2032 (USD Million)
- 7.6.5. Bio-based Polymers Market - Israel
- 7.6.5.1. Israel: Bio-based Polymers Market, by End-Use, 2019-2032 (USD Million)
- 7.6.5.2. Israel: Bio-based Polymers Market, by Product, 2019-2032 (USD Million)
- 7.6.6. Bio-based Polymers Market - South Africa
- 7.6.6.1. South Africa: Bio-based Polymers Market, by End-Use, 2019-2032 (USD Million)
- 7.6.6.2. South Africa: Bio-based Polymers Market, by Product, 2019-2032 (USD Million)
- 7.7. Bio-based Polymers Market - Latin America
- 7.7.1. Latin America: Bio-based Polymers Market, by End-Use, 2019-2032 (USD Million)
- 7.7.2. Latin America: Bio-based Polymers Market, by Product, 2019-2032 (USD Million)
- 7.7.3. Bio-based Polymers Market - Mexico
- 7.7.3.1. Mexico: Bio-based Polymers Market, by End-Use, 2019-2032 (USD Million)
- 7.7.3.2. Mexico: Bio-based Polymers Market, by Product, 2019-2032 (USD Million)
- 7.7.4. Bio-based Polymers Market - Brazil
- 7.7.4.1. Brazil: Bio-based Polymers Market, by End-Use, 2019-2032 (USD Million)
- 7.7.4.2. Brazil: Bio-based Polymers Market, by Product, 2019-2032 (USD Million)
- 7.7.5. Bio-based Polymers Market - Argentina
- 7.7.5.1. Argentina: Bio-based Polymers Market, by End-Use, 2019-2032 (USD Million)
- 7.7.5.2. Argentina: Bio-based Polymers Market, by Product, 2019-2032 (USD Million)
8. Competitive Landscape
- 8.1. Expansion and Acquisition Analysis
- 8.1.1. Expansion
- 8.1.2. Acquisitions
- 8.2. Partnerships/Collaborations/Agreements/Exhibitions
9. Company Profiles
- 9.1. BASF SE
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.1.4. Recent Development
- 9.2. Braskem
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.2.4. Recent Development
- 9.3. Natureworks LLC
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.3.4. Recent Development
- 9.4. Novamont S.p.A.
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.4.4. Recent Development
- 9.5. Biome Bioplastics
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.5.4. Recent Development
- 9.6. TotalEnergies Corbion
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.6.4. Recent Development
- 9.7. Maip Group
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.7.4. Recent Development
- 9.8. Mitsubishi Chemical Corporation
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.8.4. Recent Development
- 9.9. Plantic
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.9.4. Recent Development
- 9.10. Toray Industries, Inc.
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Product Benchmarking
- 9.10.4. Recent Development